I just got roasted for insurance..big time.

[Frontstep]

Or using their own figures,

they take in (2016) £20.3 Billion and payed out £16.5 Billion.




https://www.statista.com/topics/4560/car-insurance-in-the-uk/

So don't feel too much sympathy for them as unlike most industries we are forced to take their services.

Still driver less cars will at some point decimate their profits Mr Google/Uber et al will probably self insure eventually.

Which does mean there will be a few unemployed Meerkats Bulldogs and Actors.

 

[V6Matty]

3.8 billion sounds like a lot but think how many underwriters, insurers, resellers and so on are having a cut of that number, don't disagree it's a lot of money but compared to other inudstries there isn't really that much profit in it.

 

[tttonyyy]

Following a tip from the moneysavingexpert site, I got different prices by using different comparison sites - from the same insurance companies. What is that all about? And if I went to the insurance companies in question directly it was much higher. (Eh? Aren't they saving on commission for the comparison sites?)

Alas I have two at-fault accidents in my name over the last three years (one slid on ice and rear ended another car, one hit the back of a bus - don't ask). But I do have protected NCD totalling 12 years. I paid 370 fully comp this year.

I remember years ago after getting rear ended myself being incensed after my premium went up, even though I did nothing wrong. And in my opinion the whole NCD thing is just a big scam to sell NCD protection. Extract a bit more cash from the punters.

 

[Jim2]

3.8 billion sounds like a lot but think how many underwriters, insurers, resellers and so on are having a cut of that number, don't disagree it's a lot of money but compared to other inudstries there isn't really that much profit in it.

And Medical, and Legal. How much out of that total could be classified as fraudulent? In Ireland at the moment, we have a very bad claims culture...whiplash claims cost 4-5 time' s higher than in England or the EU. High insurance costs are closing down business's left right and center, to the extent that now it has become an issue for the government, jobs being lost etc. Seriously high awards for the most frivolous of claims....needless to say, there is very little appetite from the legal or medical to change things, the opposite in fact !!! Even when a clearly fraudulent claim gets kicked out of court, is not prosecuted. So if you think that the insurance situation is bad in England ( or anywhere else) think again..

 

[sonic]

Following a tip from the moneysavingexpert site, I got different prices by using different comparison sites - from the same insurance companies. What is that all about? And if I went to the insurance companies in question directly it was much higher. (Eh? Aren't they saving on commission for the comparison sites?)

Alas I have two at-fault accidents in my name over the last three years (one slid on ice and rear ended another car, one hit the back of a bus - don't ask). But I do have protected NCD totalling 12 years. I paid 370 fully comp this year.

I remember years ago after getting rear ended myself being incensed after my premium went up, even though I did nothing wrong. And in my opinion the whole NCD thing is just a big scam to sell NCD protection. Extract a bit more cash from the punters.

I have found the same using different comparison sites.
Did well this year the renewal was £470 two car policy for a SLK200K & a E350CDI. Using the comparison sites on individual cars got it down to £410. Said I would move, my insurers matched the price.

 

[sonic]

And Medical, and Legal. How much out of that total could be classified as fraudulent? In Ireland at the moment, we have a very bad claims culture...whiplash claims cost 4-5 time' s higher than in England or the EU. High insurance costs are closing down business's left right and center, to the extent that now it has become an issue for the government, jobs being lost etc. Seriously high awards for the most frivolous of claims....needless to say, there is very little appetite from the legal or medical to change things, the opposite in fact !!! Even when a clearly fraudulent claim gets kicked out of court, is not prosecuted. So if you think that the insurance situation is bad in England ( or anywhere else) think again..

Last week in Cardiff about 20 were convicted for crash for cash claims. The enquiry had lasted about 5 years.

 

[Jim2]

Last week in Cardiff about 20 were convicted for crash for cash claims. The enquiry had lasted about 5 years.

That's a great result !!! And I sincerely hope that in addition the a prison term, that they will be liable for costs? Take every pound off them. While that is a great result, as I have said...it also pinpoint's another cause of insurance's settling claim's literally on the steps of the Courthouse. high litigation costs..cheaper for the insurance to settle a claim than contest it, But for you, the policy holder, it means massive increase in insurance costs, even if you feel and indeed were in the right, you are not give any say in it. It's a vicious circle..and it need's to be broken, If the insurance company's were prepared to investigate every claim, and if they have any doubt about it being fraudulent then fight it in Court, then it would lead to a decrease in fraudulent claims being presented... but as it stands, cheaper to pay up and shut up.

 

[sonic]

That's a great result !!! And I sincerely hope that in addition the a prison term, that they will be liable for costs? Take every pound off them. While that is a great result, as I have said...it also pinpoint's another cause of insurance's settling claim's literally on the steps of the Courthouse. high litigation costs..cheaper for the insurance to settle a claim than contest it, But for you, the policy holder, it means massive increase in insurance costs, even if you feel and indeed were in the right, you are not give any say in it. It's a vicious circle..and it need's to be broken, If the insurance company's were prepared to investigate every claim, and if they have any doubt about it being fraudulent then fight it in Court, then it would lead to a decrease in fraudulent claims being presented... but as it stands, cheaper to pay up and shut up.

I am sure a proceeds of crime application will follow. The problem is these low life's spend it as fast as the steal it, so often there is little left to return.

 

[peterws1957]

Following a tip from the moneysavingexpert site, I got different prices by using different comparison sites - from the same insurance companies. What is that all about? And if I went to the insurance companies in question directly it was much higher. (Eh? Aren't they saving on commission for the comparison sites?)

Alas I have two at-fault accidents in my name over the last three years (one slid on ice and rear ended another car, one hit the back of a bus - don't ask). But I do have protected NCD totalling 12 years. I paid 370 fully comp this year.

I remember years ago after getting rear ended myself being incensed after my premium went up, even though I did nothing wrong. And in my opinion the whole NCD thing is just a big scam to sell NCD protection. Extract a bit more cash from the punters.

I don't actually think that NCD plays much part in the final price you pay nowadays. Particularly if you change Insurers every year. More than one intermediary has told me that the price will vary day by day or even hour by hour.

 

[JimmyTheJock]

I've renewed with "Quote me Happy" and they certainly have.
I've been with them for 3 or 4 years now and the premium has come down by about 10% each of the last 3 years.
For the coming 12 months I'm paying £147:73p which I think is pretty good.
I'm not as young as I used to be and have no convictions (ever) and no claims either (touch wood).
Me only driving as SWMBO has 6 points on her licence as I'm a named driver on her C-class policy which is now costing her about 3 times what I pay!

 

[ajlsl600]

If you read my Morethan saga you will see that I love Insurance companies that saga still carries on and it apparently has gone for "independent legal advice" after I threw a few arguments at them courtesy of a trusty edition of Insurance Law that groaned my way.
My long held belief is that they are bookies.

i sold a 03 sl600 r230 , 500bhp v12. the full comp was 270 for this yr , i bought a 12plate 205 hp ml and same cover is over 350. with full no claims ,i did not expect that ...

 

[A.J.]

Just got a re-newal notice from Tesco and guess what...……….It's within £10.00 of last year

 

[davidsl500]

Mine's due late June and my present insurers renewal quote is £4 more than last year (£153). Best comparison site quote is £146. Are insurers looking to hold onto clients now?

 

[ajlsl600]

maybe. there seems to some difficulty in understanding how these prices are arrived at the recent quote sl600 0f near 270 .last yr 230 and yr before 198 . change car seems to be the starting gun for increasing prices sl was group 50 and ml 38 or so i am told.!!

 

[Namsen10]

Hello,
Which car insurance have you subscribed ?

 

[A.J.]

Hello,
Which car insurance have you subscribed ?

Different insurance company's suit different peoples circumstances Namen. Have a look on 'Compare the market' or similar to find the one that suites you best

 

[mitch-one]

I'm with NFU Mutual, a couple of years ago I had a VW Passat, sold it and bought an Audi s4 avant . They asked for an extra £10

 

[mioba]

Hello,
Which car insurance have you subscribed ?

Best first post ever. Use a comparison site as mentioned to see what the market provides.

 

[grahamcol]

I hate these insurance companies. I’ve recently changed my C280 for a CLK220 and the CLK is about 2 groups higher (out of 50). Hastings quoted a whopping £154 to change cars, 3 months into the policy. That’s 50% of the annual premium for the C280. When l came to actually do the change some 3 weeks later they charged me £174 ! Absolute daylight robbery and profiteering. I’ll be going elsewhere come renewal time. Thieving scum in my opinion.

 

[Namsen10]

Hello,
Which car insurance have you subscribed ?

I would like to know the best car insurance for Mercedes Class E in Singapore.
Has anyone here tried this : https://www.axa.com.sg/car-insurance ?
Thanks !