Insurance, AGAIN: they ARE scamming us!
23 March 2011, 10:58 PM
#31
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Then what is being done about the claiming frenzy? This is a problem that needs to be dealt with. As the previous post stated it has the potential to get out of hand.
23 March 2011, 10:58 PM
#33
This is just the start of it.
More people unemployed,big increase in cost of living,expensive fuel,second hand cars, sh*t boxes,gas-guzzlers etc, getting cheaper,massive hikes in insurance prices.
It dosn't take a rocket scientist to work out that there will be even more un-insured
drivers on the road.This will spiral out of control soon.
More people unemployed,big increase in cost of living,expensive fuel,second hand cars, sh*t boxes,gas-guzzlers etc, getting cheaper,massive hikes in insurance prices.
It dosn't take a rocket scientist to work out that there will be even more un-insured
drivers on the road.This will spiral out of control soon.
23 March 2011, 11:00 PM
#35
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£100? Screw that, Im cancelling my insurance as I can afford to get caught a few times and when I lose my licence just pay the fines. Crash and Ill claim bankruptcy.
23 March 2011, 11:07 PM
#37
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)Any share holder would reasonably want a return on their investment - RBS owns Direct Line and are just like any shareholder.
And if the word on the street is correct - RBS would sell Direct Line tomorrow if they could get a decent buyer for it.
23 March 2011, 11:07 PM
#38
You know, I wouldn't care but government could, if it wanted, organise 3rd party insurance for everyone at a minimum prfit, like they do in Oz. That would get MOST of the uninsured drivers off the road.
Then those of us who wanted fully comp, protected ncd and foreign use, could pay other insurance companies for the xtras.
But they won't, they just pay lip-service to getting uninsured drivers off the road
After all, the insurance companies tell us they are hardly making any profit on car insurance...................aye, right, that's why every second advert is trying to get new customers and new customers get huge discounts to get them on board.
Then those of us who wanted fully comp, protected ncd and foreign use, could pay other insurance companies for the xtras.
But they won't, they just pay lip-service to getting uninsured drivers off the road
After all, the insurance companies tell us they are hardly making any profit on car insurance...................aye, right, that's why every second advert is trying to get new customers and new customers get huge discounts to get them on board.
23 March 2011, 11:12 PM
#40
You know, I wouldn't care but government could, if it wanted, organise 3rd party insurance for everyone at a minimum prfit, like they do in Oz. That would get MOST of the uninsured drivers off the road.
Then those of us who wanted fully comp, protected ncd and foreign use, could pay other insurance companies for the xtras.
But they won't, they just pay lip-service to getting uninsured drivers off the road
Then those of us who wanted fully comp, protected ncd and foreign use, could pay other insurance companies for the xtras.
But they won't, they just pay lip-service to getting uninsured drivers off the road
Of course insurance companies make money, but maybe not in the way you think (normally from investing the money, trying to make a few £££ before they pay out)
23 March 2011, 11:22 PM
#43
Scooby Regular
Simples....put £500,000 into the treasury and you DO NOT need to insure your car, or any of you cars.....you can self insure
......now where did i put that £500,000
......now where did i put that £500,000
23 March 2011, 11:26 PM
#45
Don't tempt fate. Could happen to any of us, you'd be suprised by some of the stories we hear.
More than once we've had people moan about their price, telling us how good a driver they are, and that they've never had a claim in 20 year of driving.
They don't seem to have much to say when they ring up to report a claim a few months later (and that's happened a few times)
I wish i could say to them ''i though you said you were a good driver?''..... but i've been told not to
More than once we've had people moan about their price, telling us how good a driver they are, and that they've never had a claim in 20 year of driving.
They don't seem to have much to say when they ring up to report a claim a few months later (and that's happened a few times)
I wish i could say to them ''i though you said you were a good driver?''..... but i've been told not to
23 March 2011, 11:26 PM
#46
Scooby Regular
TBH for that kinda money i would be driving a diesel, with 150bhp and the same perfomance......just 5-8 insurance groups lower....in honesty i cannot for the life of me see the point in driving an Impreza without any genuine peformance....no offense of course, just i would go down the diesel route and pay a fraction of the insurance, or smaller car route i.e. pocket rocket. the £1200 excess atually makes driving a risk...2 stupid little error in a few weeks could see you in a VERY weak position financially....all for a 160 bhp car?......i dont think so....
23 March 2011, 11:27 PM
#47
Although i thought it was only £100,000..... but i could be wrong.
You have to pay for any claim out your own pocket though (or out of the money you've deposited)
23 March 2011, 11:30 PM
#48
Don't tempt fate. Could happen to any of us, you'd be suprised by some of the stories we hear.
More than once we've had people moan about their price, telling us how good a driver they are, and that they've never had a claim in 20 year of driving.
They don't seem to have much to say when they ring up to report a claim a few months later (and that's happened a few times)
I wish i could say to them ''i though you said you were a good driver?''..... but i've been told not to
More than once we've had people moan about their price, telling us how good a driver they are, and that they've never had a claim in 20 year of driving.
They don't seem to have much to say when they ring up to report a claim a few months later (and that's happened a few times)
I wish i could say to them ''i though you said you were a good driver?''..... but i've been told not to
It's plain wrong Moley
23 March 2011, 11:31 PM
#49
Scooby Regular
If you place £500,000 in the state treasury you can self insure....its an old law, and i doubt very popular but it is a fact....I help manage a large fleet (90 tractor units) in the road haulage industry, and as such i need to be considered a "professionally competant person", and this section was covered in a recent course i went on via the FTA and VOSA......
so £500,000 = no insurace = legal. you can just write out your own certificate...although it wont last for much longer i'm sure since claims are now in some cases into the millions....
so £500,000 = no insurace = legal. you can just write out your own certificate...although it wont last for much longer i'm sure since claims are now in some cases into the millions....
23 March 2011, 11:32 PM
#50
Scooby Regular
It is defo £500,000, which in West Yorkshire seems cheap
.....lolClaoims MUST be taken from you deposited funds, which in turn HAVE to be topped back upto half a mill, or your feked
...£100,000 would'nt cover a good 5 car pile up these days...
Last edited by SpecDscooby; 23 March 2011 at 11:33 PM.
23 March 2011, 11:36 PM
#51
I understand where your coming from and id never be so stupid to claim it couldn't happen to me because 'im a good driver' but it doesn't change the fact that people have seen a disgusting rise in insurance premiums just because they have seen a good excuse to make huge profits through the last year or so's happening's!
It's plain wrong Moley
It's plain wrong Moley
What is wrong is the ambulance chasers who get people to put PI claims in where there isn't actually an injury. (we all know it goes on).
23 March 2011, 11:37 PM
#53
Scooby Regular
TBH for that kinda money i would be driving a diesel, with 150bhp and the same perfomance......just 5-8 insurance groups lower....in honesty i cannot for the life of me see the point in driving an Impreza without any genuine peformance....no offense of course, just i would go down the diesel route and pay a fraction of the insurance, or smaller car route i.e. pocket rocket. the £1200 excess atually makes driving a risk...2 stupid little error in a few weeks could see you in a VERY weak position financially....all for a 160 bhp car?......i dont think so....
If I want to upgrade my Fiesta to a Diesel producing a whopping 100bhp I will have to put around £1000 on top. Err, no thanks. I have looked at the BMW 120d but I would have to put in an extra £2000 and it would have around 80,000miles whereas mine has 23,000, just doesnt seem like a good enough deal.
Last edited by SRSport; 23 March 2011 at 11:47 PM.
23 March 2011, 11:39 PM
#54
It was a fair while ago i was told the figures, so couldn't remember what it was
23 March 2011, 11:43 PM
#56
23 March 2011, 11:51 PM
#58
TBH he doesn't deal with accident damaged cars much, more restorations and 'projects', but the occasional accident referral gets him a nice holiday each year
23 March 2011, 11:57 PM
#59
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It is hard to see how a Government insurance scheme would be any cheaper than an Insurance company.
Retail motor insurance is not a great game to be in - Moley is right - the combined cost of operations and claims (the combined ratio) is often above 100% of premium income.
Profit comes purely from the interest earned on the insurance reserves - and for years even that has been poor as interest rates are very low.
Where the money is made is selling add ons such as legal protection (profit £10 per customer), AA or RAC style cover, etc.
Retail motor insurance is not a great game to be in - Moley is right - the combined cost of operations and claims (the combined ratio) is often above 100% of premium income.
Profit comes purely from the interest earned on the insurance reserves - and for years even that has been poor as interest rates are very low.
Where the money is made is selling add ons such as legal protection (profit £10 per customer), AA or RAC style cover, etc.
Last edited by Trout; 23 March 2011 at 11:58 PM.
24 March 2011, 11:33 AM
#60
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Well how much does the scheme in Oz cost? Perhaps they don't encourage fraudulent PI claims by selling details of clients who've had crashes to parasitic lawyers?