Non Fault Insurance Claim Ripoff

OnanTheBarbarian

Insurance is a game of risk. Statistics show a party involved in a non-fault accident is more likely to subsequently make a fault claim.

So you are now a riskier proposition to the bookies, sorry I meant insurers. So a higher premium is charged as there are greater odds your daughter will be back for a handout from them, thus reducing their eventual financial exposure due to an increased premium being charged.

ACG

I had a non fault accident in 2012 - its still costing me more now.

Its so crazy that a bloke can admit the sun was in his eyes, admit it was 100% his fault, he pays for the repair so the insurance company do not even have to do a single thing other than note it on my policy and best part of 2 years later its still costing me more.

Im all for paying if im at fault, im even up for paying something extra if there is potential doubt and its 50/50 and cant be proved but when it is without doubt not my fault I really cant get my head around why I should have to pay more.

But it is what it is. I could go and claim for the extra but its just not worth the hassle. I would not have declared it had he not told his insurers as I knew this would happen.

James_B.

Curvybiker wrote: »

James, I do not agree that by fearing my daughter's policy may increase is a 'miserabilists' view when it has been proven to be the case on the program 'Rip Off Britain'.
And I can only assume that you must own an insurance company when you can state 'the companies are not making large profits' to know such a fact.

Oh dear, where to start...

No, I don't own an insurance company, but I do read the financial news, and so can see the reported profits. I'm also aware of the reported profitability of motor policies, which never tends to be large.

And the reason that I used the word "miserabilist" is that under your bizarre worldview (i.e. that it is not "fair" to base premium on risk) you and your daughter have both been paying less for insurance than you ought to have been.

You are reminiscent of the guard in the Shawshank redemption who, after a lottery win, feels cursed because his win is taxable.

Curvybiker

TSx wrote: »

The insurance industry is competitive (which doesn't necessarily equal affordable). The same arguments come up when charges are mentioned. Each company will have it's own view on none-fault claims likely to be backed up by their own statistics. The pricing model used by British insurers is very sophisticated and will be geared around providing the lowest possible premium to individuals as cost is the number one factor which motor insurance is purchased on.

However you price things, the total income will still need to be the same to provide a profit. You could either have (a very simplified example) a driver with a none-fault claim paying an average of £150 and a driver with no incidents at all paying an average of £100, or you could have all drivers paying an average of £125.

If the statistics back this up (and each company will have their own confidential statistics to draw a conclusion from) then is it really a rip off to adjust the premiums accordingly?

I was sitting eating my breakfast; my bike was parked in a parking bay in a car park over the road. Next thing it is knocked over and damaged, the person admits fault (there were many witnesses), I advise my insurers. I have to pay £100 excess upfront, make many long, time consuming phone calls and am without a bike for at least 2 weeks (and that is if it can be fixed, longer if a write off). I am then potentially made to pay extra on future premiums and all because I was sitting eating my breakfast after parking my bike in a parking bay across the road.
Sigh.............. must just be me (and the program Rip Off Britain) that sees the injustice in this!

Curvybiker

ACG wrote: »

I had a non fault accident in 2012 - its still costing me more now.

.............................................

But it is what it is. I could go and claim for the extra but its just not worth the hassle. I would not have declared it had he not told his insurers as I knew this would happen.

I have since be told that a friend had their insurance cancelled as they had not declared an accident/incident and the insurers found out (not sure how, big brother I guess - or google ). Then of course, one of the questions when taking out a policy is 'have you ever had insurance declined or cancelled?' - done for!

Quentin

Curvybiker wrote: »

... all because I was sitting eating my breakfast after parking my bike in a parking bay across the road.
Sigh.............. must just be me (and the program Rip Off Britain) that sees the injustice in this!

Anyone can see there is no injustice at all. Compare your claim against someone else who never needs to claim over their bike getting damaged in that bay.


Who parked the bike in this vulnerable position?


(cf someone sitting at home eating breakfast who has a bike parked safely in a private place to which no-one else has access and thus cannot have it knocked over and damaged)

Quentin

Curvybiker wrote: »

I have since be told that a friend had their insurance cancelled as they had not declared an accident/incident and the insurers found out (not sure how, big brother I guess - or google ). Then of course, one of the questions when taking out a policy is 'have you ever had insurance declined or cancelled?' - done for!

You start the thread, we reply but you don't seem to read the replies! See #5.

hugoshavez

Quentin wrote: »

"No fault" doesn't mean no blame. It means that the insurer was able to get full recompense from the other side.

Of course Quentin's right, but in fairness to the OP, and the countless others who've started similar threads before on the same subject, it does seem to me that the industry does itself no favours by relying on this language.

I wonder if the ABI couldn't come up with something better, that would be more easily understood and provoke less ill-will from customers who come across the issue for the first time.

Curvybiker

James_B. wrote: »

Oh dear, where to start...

No, I don't own an insurance company, but I do read the financial news, and so can see the reported profits. I'm also aware of the reported profitability of motor policies, which never tends to be large.

And the reason that I used the word "miserabilist" is that under your bizarre worldview (i.e. that it is not "fair" to base premium on risk) you and your daughter have both been paying less for insurance than you ought to have been.

You are reminiscent of the guard in the Shawshank redemption who, after a lottery win, feels cursed because his win is taxable.

Sir, not wishing to get into a slanging match but you are for sure a deluded individual to believe for one minute what is written in the papers, Financial or otherwise. Also, you have obviously never owned or run your own company, otherwise you would know that profits can always be amended, lost , hidden, etc etc. (And here was me thinking you owned an insurance company. :rotfl:)

Rip Off Britain should obviously have consulted with you before stating the facts it did on the program.

It is obvious that my view will never agree with yours so I will politely leave it there and back away gracefully.
p.s. Shawshank Redemption is one of my all time favourite films, so you can't be all bad!

Curvybiker

Quentin wrote: »

You start the thread, we reply but you don't seem to read the replies! See #5.

The important thing to realise about all this is that when you have a non fault claim to remember to disclose it when getting new quotes.

There are many threads from those that didn't, then got found out when their history was checked up on leading to issues with their insurer suspecting this was deliberately omitted.

I assume to are referring to the above post and yes I did read this post as I read all the posts on here. I endeavour to respond to all posts out of politeness and if I have something to contribute or discuss further. I replied to this post see #26 as I had been told something similar earlier today that I felt related to post #23.

Before making accusations in future might I suggest you take your own advice and read all the posts.

Also, as a newbie MSE ask if people could be especially nice, clearly a request that seems to have passed you by.