car insurance daylight robbery !!!

adamc260

mikey72 wrote: »

You have your (biased) opinion.
I'm sure the op and myself won't be sharing it.
I'll post up how the action's doing.

Do you just like to argue/disagree with people all the time? Can you not accept that sometimes... your opinion isn't ALWAYS correct? Honestly

Clothing companies make record profits, do you moan about them?
Oil firms make record profits, do you moan about them?
Tesco makes record profits for selling food... do you moan about them?

Insurance is a buisness like any other industry, of course they aren't going to do it for nothing but you have to consider that the price increase isn't strictly to boost the profits made and many insurers have been running at a loss for a long time

Arg

bouncyd!!! wrote: »

Insurance companies underwrite their business by class of risk, and whilst they may have made "record profits", the motor books are generally not that profitable, hence the increase in rates.

Whilst there may be a bit of cross-subsidising this cannot go on indefinately. As you are well aware insurers have been hit heavily with the cost of astronomical third party claims - £14m recently publicised in one case - so as a result their reinsurance costs have gone up.

We can go on and on, but there is no single answer - look how other costs have risen progressively over the years, but for some reason individuals expect insurance to continue to reduce. The only way reductions will happen is if cost of claims continuously reduces, which will mean total re-education of the driving public and an about turn from the general attitude of many of the public to fraudulent claims.

Or a change of laws which restrict insurance or what insurers can do.

tforf

why should i be made to pay because the insurance company has had to pay money out for other peoples claims ??? they should be penalized not the likes of me who has never made a claim . how can you say , ` they consider a higher risk ` so i`ve been driving 15 years never made a claim , 11 years no claim bonus ( other 4 on parents) but suddenly im a higher risk driver !!!! i know a person who have been band for drink driving who have had better quotes.

mikey72

adamc260 wrote: »

Do you just like to argue/disagree with people all the time? Can you not accept that sometimes... your opinion isn't ALWAYS correct? Honestly

Clothing companies make record profits, do you moan about them?
Oil firms make record profits, do you moan about them?
Tesco makes record profits for selling food... do you moan about them?

Insurance is a buisness like any other industry, of course they aren't going to do it for nothing but you have to consider that the price increase isn't strictly to boost the profits made and many insurers have been running at a loss for a long time

I wouldn't dream of disagreeing with such an argument.
At least you and lisyloo agree they are increasing profits.
You even appear to concur it's fair to say record profits.

nabber68

I appreciate the argument that costs go up due to 3rd party claims etc etc but if insurance is risk based and if you have had no claims then you ar a 'good' risk, therefore why should a careful claim free driver pay more for their insurance this year than last if they have been claim free?

adamc260

nabber68 wrote: »

I appreciate the argument that costs go up due to 3rd party claims etc etc but if insurance is risk based and if you have had no claims then you ar a 'good' risk, therefore why should a careful claim free driver pay more for their insurance this year than last if they have been claim free?

Because that big pot of money that pays the claims/wages/marketing etc etc gets smaller and smaller... and everyone has to fill it back up! Short and sweet version really. It's unfair but, thats life aint it =/

tforf

so your saying like all them drink drivers , car thieves fraud insurance claims ect ect we all should pay to cover the insurances cost why the idiots get a few hours community service or banged up with 3 meals a day and ps3`s .

lisyloo

At least you and lisyloo agree they are increasing profits.

From 14/15 years of losses yes.
They simply HAVE to.

You even appear to concur it's fair to say record profits.

For the insurance companies - yes (those were your words).
Not for motor insurance specifically.
You should not take things out of context.
You can disagree wiht my opinions, but I am not trying to twist the facts (I have no reason to).

so your saying like all them drink drivers , car thieves fraud insurance claims ect ect we all should pay to cover the insurances cost why the idiots get a few hours community service or banged up with 3 meals a day and ps3`s .

Well morally of course we shouldn't.
However I think you've pretty much summed up how it works in practice.
Those of us who act legally and pay insurance and taxes, always get to subsidise those who don't.
It's morally wrong, but no-one has an instant solution.

Lifes_Grand_Plan

£358 for tpf&t!??!? Jesus where do you live, Helmand Province?

All of a sudden my £229 fully comp doesn't seem so bad.

nabber68

adamc260 wrote: »

Because that big pot of money that pays the claims/wages/marketing etc etc gets smaller and smaller... and everyone has to fill it back up! Short and sweet version really. It's unfair but, thats life aint it =/

Agreed it is unfair I wonder what they could do to make it fairer!:)