legal cover on car insurance

BertTheRaccoon

This is what the insurers want to achieve - no lawyers at all. Hell insurers can't even deal with their own policyholders in a fair fashion, so what help does a third party lay person have?

http://www.lawgazette.co.uk/news/bypassing-lawyers-would-save-15bn-insurer-claims

And I can guarantee your premiums still won't fall. Premiums haven't moved much in the last 18 months, yet a handful of insurers have reported massive hikes in profits over the last month.

They are taking everyone for mugs, but have the press and the government eating out of their hands.

rs65

BertTheRaccoon wrote: »

the client has to agree to a damages based agreement

Or just pay for legal advice/representation. What is actually wrong with that?

rs65

BertTheRaccoon wrote: »

Premiums haven't moved much in the last 18 months, yet a handful of insurers have reported massive hikes in profits over the last month.

If they have reported profits in the last month, how could prices have dropped in the last 18?

BertTheRaccoon

rs65 wrote: »

Or just pay for legal advice/representation. What is actually wrong with that?

You lose both legs in a RTA, £30k of legal fees are incurred in dealing with your claim. Would you be happy paying £30k out of your own pocket?

BertTheRaccoon

rs65 wrote: »

If they have reported profits in the last month, how could prices have dropped in the last 18?

I'm sorry, I don't follow what you are saying.

I'd say premiums have barely dropped in the last 2-3 years actually.

One of the famous quotes the insurers and their buddies at the ABI like to roll out is that "the number of accidents is falling year on year, but the number of claims being made for injury is increasing" - no !!!! Sherlock. Maybe it's because 95% of insurers have goons on phones incentivised to capture any injury claims and send them to their partner law firms. When the insurers started this, that was when the ratio of PI claims to accidents ramped up massively. The result - more claims and money spent out - premiums go up.

So the insurers did this themselves.

Same rules with credit hire & credit repair. Happy to refer their policyholder onto these services when it is non-fault, which gives rise to the other party's insurer being hosed down for these increased costs.

Insurers are happy to cut each other's throats in this way. Always ready to refer their customers for credit hire etc, yet squeel like pigs when they are on the receiving end of such claims.

I can not see premiums tumbling, only profits soaring.

My personal thoughts, the insurers have managed to dictate policy to the government, much like the banks. "Give us what we want or we'll move our operations offshore"

rs65

BertTheRaccoon wrote: »

I'm sorry, I don't follow what you are saying.

I'd say premiums have barely dropped in the last 2-3 years actually.

They can't drop premiums 2 years ago on the basis they may announce profits in March 2013. Any profits announced this year would affect future premiums not past ones.

BertTheRaccoon

rs65 wrote: »

They can't drop premiums 2 years ago on the basis they may announce profits in March 2013. Any profits announced this year would affect future premiums not past ones.

Understood, but do you honestly believe premiums will be much lower in 12 months + time?

Some are saying only 2% reduction, yet announcing profits of over £450m

rs65

BertTheRaccoon wrote: »

Understood, but do you honestly believe premiums will be much lower in 12 months + time?

Some are saying only 2% reduction, yet announcing profits of over £450m

From what I am seeing at the moment, I believe premiums generally will be higher over the next year - not specifically the private car market though. Insurers are saying they are prepared to lose business as a result of rate increases.

thenudeone

If you have ever worked for an organisation with its roots in the civil service (which is very wide and includes, for example, The Post Office, BT and Capita) you can get legal cover for you plus spouse as part of the £18 fee for membership
http://www.csmaclub.co.uk/shop/moneyshop/motorlegalexpenses

I've used legal cover twice in 25 years. In both cases it did exactly what I expected, and saved a lot of legwork on my part. Whether that's worth £9-40 a year per person is your decision.

tscience

[FONT=&quot]Bad faith insurance claims and lawsuits could cause by varied actions or inactions of an insurance company. Some individuals feel intimidated to fight massive insurance corporations in court. They’re afraid that those massive corporations can use all their connections and might to simply run away from their obligations[/FONT]