Car Insurance is a joke

Paulos77

I never use price comparison sites. I always find them a lot more expensive than going direct. Some a good few hundred pounds more. I have always got a cheaper deal every year going direct to insurers sites, apart from this year where mine has increased by £10 with the insurer i was already with, and they were the cheapest I could find.

The ones I have found are a bit of a joke are these deals where they say get 12 months cover for the price of 10 months. They are always way too expensive and can get 12 months for less than half the price they quote

Rob-C_3

An insurance dream at 27? I don't think so!
An average of £500 sounds very reasonable. What was the cheapest?

brendcam

Ok so i have calmed down a bit now, i wasnt trying to cause an argument just wanted a grumble, but im 28 in a matter of weeks and cant see why it has gone up so much.

I know premiums go up each year, i understand why but what i want to know is what age do they start to come down for a bloke?

Also i tried a lot of companies direct, (inc direct line) they were quoting around £700.

Also why is 3rd party f + t a lot dearer than fully comp?

stator

I was 28 when I renewed the insurance on my 1.3 Fiesta (1996) with 5 years NCB and no accidents so in a similar position to you. My renewal quote from swindon was ridiculous at £500 or so when I paid £300 last year. I managed to get fully comp from Kwik Fit for £230 though using one of the comparison websites. Quite a result in the end, so it's not going up across the board for everyone, maybe your postcode has been reassesed and become more dangerous?

Also I found the same thing this year, TPFT was MORE expensive than fully comp, even with the same insurance, same policy!

DCFC79

Ins co's are businesses who have staff to pay plus other overheads to pay, if you drive without insurance then you are a fool as you will get caught and then you will be in deep doo doo

Quote

balf wrote: »

There is a good reason why people hate insurers almost as much as banks.

David.

Is the reason that most people are morons?

bouncydog1

The companies base their premiums on the results of their book of business. So if they have had a bad year and made losses, the following year they have to try and recoup some of the loss.

They will also be assessing the type of claims they have had - if more are seen as coming from one area, then the base rate for that area will increase - bad luck if you have not had an accident but that is the way it works.

You have two choices - look elsewhere either contacting insurers direct for a quote or using a broker - or pay the premium. Driving without insurance is downright stupid - if you are involved in an accident and cause an injury to somebody else you are likely to be pursued by the insurers to recoup their losses - is losing your home really worth £120?

Nobody wants to pay more but insurers have been hit by the recession in the same way as everybody else - investment income has fallen but overheads are still the same - rent, wages, staff costs etc. They also have to answer to their shareholders who will have little sympathy if they don't get a dividend on their investment or the value of their shares go down because insurers held their rates so as not to upset their policyholders!

dogbot

To address, a bit, the TPO/TPFT issue - most insurers had decided they don't like carrying this line of business because they have found the results to be worse than comp business. Of course the effect is that all the less good risks that were insured TPO etc have just taken out Comp cover, but at least it gives the insurer a bit more control over the claim, making them easier to resolve.

There is also an issue that keeping differnt product lines maintained is expensive - direct or via brokers - as every time you want to make a change or update to something in that product (e.g. how it is rated, the rates themselves etc) there is a cost for each and every change. If you have a lower volume poorly performing product that is very similar to another product that offers higher levels of cover, then you ax the first one. This has left fewer players in the market pushing prices up!

If you are still happy with third party only cover then just select a wacking great excess and self insure that amount of each and every loss suffered to the insured vehicle.

tracy.john

i am a 33 year man with 7 years no claims, no convictions or motor claims and my insurance renwal as gone up from £475 to £675 thats totally out of order and the cheapest quotes i have been getting are around £880.
insurance companys are allowed to make a profit but this is just ripping of the carefull drivers who pay the insurance.
maybe the people who do not have insurance should pay a fine to the court plus what ever the court decides, then a charge which should be equal to there insurance cost would have been. this should then be given to the insurance companies who have had to pay out because of uninsured drivers
instead of US

mikey72

Quote wrote: »

Is the reason that most people are morons?

Is that your professional view of your customers?