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I just got roasted for insurance..big time.

Discussion in 'Insurance' started by Conor, Jan 29, 2019.

  1. Taffy7hfa

    Taffy7hfa Senior Member

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    They have become a law unto themselves, are under regulated and through their use of technology and data bases are acting in collusion with each other to form an invisible and covert monopoly, they are not the only industry guilty of this, but they are probably one of the biggest.
     
  2. Jimbo1959

    Jimbo1959 Senior Member

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    What's happened to the Monopolies Commission?

    Why are they not being investigated?

    Too much money at risk or are the brown envelopes reaching the right pockets?
     
  3. Taffy7hfa

    Taffy7hfa Senior Member

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    The Monopolies Commission is now the CMA and has no teeth, or at least is extremely reluctant to use them.
    Its hard to accuse an industry that has 400 odd companies of being a monopoly, its another example of technology outpacing legislation (and taxation), and yes I do believe that most of our MP's are on the payroll of one business/corporation or another.
     
  4. Jimbo1959

    Jimbo1959 Senior Member

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    I'm just glad to see that I'm not the only one who has similar suspicious thoughts. Swmbo thinks I'm borderline paranoid, lol.
     
  5. bob 6600

    bob 6600 Senior Member

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    No worries, glad to have been of help

    As others have said, it's all a scam. Years ago I had my number plate on a family member's car rather than pay retention fees which were yearly at the time. An uninsured driver hit the car causing minor damage. The insurance company said we will probably wright it off, so we decided not to claim and repaired it ourselves. Fast forward a few years and when I was obtaining a quote, I declared no accidents etc and the insurers said no, you had a claim in 2011 blah blah. After much arguing, they agreed the car wasn't mine (just had my plate on it). Initially they wanted said an incident had taken place and was noted in 2011, even though no claim was made and it would increase my insurance premium as I was at higher risk. All cleared in the end but a load of bollox just to put the price up.
     
  6. flowrider99

    flowrider99 Senior Member

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    Not sure about Ireland but what you are doing (you as named driver and your Dad as main driver) is illegal in the UK.
     
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  7. DSK

    DSK Senior Member

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    Yes I have a few cars and when I get a new one, its easier to have its own fresh policy, 0 ncb etc because its easier to transfer the car to another insurer who offer the best deal at renewal.

    I have done the same again, having a sold one of the cars, meant the NCB expired.... £1200 for insurance on my Mercedes CLS. Got it down to the £560ish via getting quotes from other insurers.

    I would suggest, register on GoCompare, enter your details (they get saved so no need to fill everything out at renewal if there has been no change), get the prices and use those to get yourself a suitable like to like deal.
     
  8. Yugguy

    Yugguy Senior Member

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    I rang direct line today, just to query the wording on the breakdown part of my renewal and they knocked 20 quid off without me even asking.

    Woohoo.
     
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  9. jez430

    jez430 Member

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    Hi.. thing is with insurance, is it's all about the risk . If your a higher risk ie 22yrs old, 6 points, and no no claims, i wouldn't want that sort of customer on the books, so expect to pay a premium..
     
  10. ardaelius

    ardaelius Senior Member

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    I lay odds 100 to 1 those who work for an insurance company have a hefty discount on every thing they have insured, the city of london , the sharks there will strip you clean faster than the sharks in the oceans. And they could not careless. say as least as poss in all things.
     
  11. Kev555

    Kev555 Senior Member

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    I havent owned car in prob 10 years until 2 years ago when i bought a rav4 for a runaround if the van was off the road or heavy snow in winter. never paid anymore than £300 for insurance for the van but couldnt get insurance for less than £500 ( more than the rav4 cost me) and havent had an accident in my life. I realise i am now lucky when i see the prices you guys are quoting.
     
  12. mrmb

    mrmb Senior Member

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    It all depends on the type of car you have. For example W204 2011 Facelift model AMG Sports Edition C200 CDI is in a hight insurance group. However if I would insure a Gold or Focus my insurance would go down from 1190EUR to around 600/700EUR considering I am 25 with 4 year No Claims Bonus and 3 Years as named driver
     
  13. malcolm210

    malcolm210 Senior Member

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    As part of the roll out of indirect taxation IPT is now 12% so don’t go too hard on insurance company price increases it’s not all down to them

    Now you’ve got me started we have VAT on energy and the cost of introducing Smart meters (most of which don’t work properly) added into the price consumers pay. Who decided to let the big six energy companies design and install new meters instead of NG rolling this out confounds me, only politicians could make this mistake....
     
  14. bob 6600

    bob 6600 Senior Member

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    The postcode side is also a scam. Using an example, say postcodes AB1 2CD (good area) and AB1 4GF (not so good area with accidents/thefts). Now if I live in AB1 2CD, it doesn't matter because the whole AB1 postcode is a 'higher risk' area due to accidents/claims/uninsured drivers etc. So, my premium is higher than it should be and the insurance companies have the excuse that the postcode comes up as a higher risk area when actually my full postcode isn't. I've never heard of a car theft in our or any adjacent street, nor any accidents in the 30 years I have been here.
     
  15. OP
    Conor

    Conor Senior Member

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    Guys,

    Just a quick note to share these links. You may be aware of them but they offer some tidy services and may suit some of ye're circumstances.

    * Cuvva < www.cuvva.com > - Temporary cover for drivers, by the day/hour/etc.. Could come in useful.
    * By Miles < https://ByMiles.co.uk > The founder reached out to me after he came across my rant on Twitter.. Basically, you pay a flat rate each year to cover the car sitting undriven. Then after that you pay by the mile.. I believe there are caps so you won't end up with a huge bill. They require you to plug in an OBDII dongle to track usage, which is something I am not overly keen on. I would rather having to only plug in the dongle once a month or so and submit a reading. Also, I wonder what they track. I know companies track the whole shooting gallery, which is lethal imho.

    I am not associated with either of these companies but just thought I would share as they do seem to be innovative enough to mention :)
     
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  16. bob 6600

    bob 6600 Senior Member

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    I know these temporary insurance companies are expensive but WOW! For 28 days they quote just under what I pay for the year! Although I guess no NCDs etc count, but still you would be better off contacting your insurance company and adding a car temporarily.
     
  17. OP
    Conor

    Conor Senior Member

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    True, I guess they are given the nature of the business. I suppose it's not a reasonable comparison to compare a full policy type to temp cover as they really are different things.

    You are right though, I imagine your existing insurer could help you out. But I did ask that question of one of them recently if I could get insured for only a couple of days and they said no -- I had to have an existing policy with another car with them. YMMV.

    I think Cuvva makes it easy too.. like it would be a nice experience where a friend can just borrow my car for the weekend, day, hour etc and buy the insurance as needed through an app and not have to ream through a load of stuff with an agent on phone.
     
  18. bob 6600

    bob 6600 Senior Member

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    Yes you are paying for the convenience although at a premium! As you said, most insurance companies will not let you add a car unless you have a policy with them. If I borrow a friend's car, I just use the 'third party only to drive any other insured vehicle' part of my policy, although as stated it is 3rd party only cover. The only annoying part about being insured with Admiral is that they do have this cover (any vehicle 3rd party as long as it does not belong to you) EXCEPT your spouse's vehicle. No other insurance company I know has this stipulation and whilst I don't drive the wife's car, there are times when I need to like taking it for an MOT etc. Temporary insurance isn't really worth it as if I insure it temporarily for 3 separate occasions I am better of insuring it for the year as a named driver due to admin fees every time.
     

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