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Strange insurance calculations
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I have two cars, which I've just renewed my insurance last week with Admiral on separate policies. A multi car policy was more expensive. I was with Admiral prior but renewed as a new customer rather than take them up with their renewal quote.
I got 3 points for speeding during my last Admiral policy but I didn't declare them until renewal. I compared my quotes with and without my points to see how much I'll be punished and oddly, my premium was £17 cheaper WITH the points added.
In addition to my points making my premium cheaper, I have also added 2 named drivers with a provisional licence and that has also lowered the premiums by a considerable amount. I've begun teaching the two named drivers to drive so you'd think it would increase my risk of a crash/claim.
Why is it these things so obviously make me a more riskier driver and increase the possibility of a claim, decrease my premiums?? It's the strangest thing, not that I'm complaining though.
My premium for car 1 was £650 with just me listed as a driver... then it dropped to £400 with the points and named drivers added. Car 2 (4x4) was £900 then it dropped to £600.
I got 3 points for speeding during my last Admiral policy but I didn't declare them until renewal. I compared my quotes with and without my points to see how much I'll be punished and oddly, my premium was £17 cheaper WITH the points added.
In addition to my points making my premium cheaper, I have also added 2 named drivers with a provisional licence and that has also lowered the premiums by a considerable amount. I've begun teaching the two named drivers to drive so you'd think it would increase my risk of a crash/claim.
Why is it these things so obviously make me a more riskier driver and increase the possibility of a claim, decrease my premiums?? It's the strangest thing, not that I'm complaining though.
My premium for car 1 was £650 with just me listed as a driver... then it dropped to £400 with the points and named drivers added. Car 2 (4x4) was £900 then it dropped to £600.
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It's the wonderful world of Actuarial science. You're not supposed to understand it, just bend over and.... 0
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I compared my quotes with and without my points to see how much I'll be punished and oddly, my premium was £17 cheaper WITH the points added.
They probably found that statistically someone with 3 points for speeding is less likely to do so again.“I may not agree with you, but I will defend to the death your right to make an a** of yourself.”
<><><><><><><><><<><><><><><><><><><><><><> Don't forget to like and subscribe \/ \/ \/0 -
On the news the other day insurance costs are coming down.
It appears there maybe some truth behind it.0
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