Guevara car insurance

Iaindan90

Hi has anybody looked in to guevara peer to peer car insurance or currently use it?

Quimoi

Interesting idea, had never heard of it before now.

Out of interest tried to get a quote and ended with a 401 error, a swear word on the screen and a picture of a dog taking a dump. I get that it's in line with the rest of their relaxed, cool website but that has put me off immediately - maybe I'm just not the target demographic...

stator

Sorry, never heard of them but interesting quote system:

InsideInsurance

Its amusing and certainly different but in practice I thought slower to complete than a series of questions you can tab through.

Interested to see who are on the panel but the few dummy details I used all generated errors or declined to quote

David_InsDef

It's gimmicky and you would never be able to change enough people's mindsets to get it to the critical mass it would need to succeed.

When it comes to car insurance people think in the here and now - not, 'how much can I save next year if I sign up to a group this year'.

If you look at the concept, they're trying to encourage people to group buy insurance. Unless they're offering the cheapest available insurance for most of the group (which would make the concept unsustainable a way) - those within the group faced with paying more than they would if they just went and bought the best priced insurance they can get elsewhere, would quickly lose interest.

dacouch

David_InsDef wrote: »

It's gimmicky and you would never be able to change enough people's mindsets to get it to the critical mass it would need to succeed.

When it comes to car insurance people think in the here and now - not, 'how much can I save next year if I sign up to a group this year'.

If you look at the concept, they're trying to encourage people to group buy insurance. Unless they're offering the cheapest available insurance for most of the group (which would make the concept unsustainable a way) - those within the group faced with paying more than they would if they just went and bought the best priced insurance they can get elsewhere, would quickly lose interest.

I can see it appealing to higher risk customers eg young drivers, people with convictions or high performance cars. The problem then being you have pools full of similar high risk drivers and the inevitable claims that entails. The current system means such drivers have their risk diluted by the size of the pool and larger number of lower risk drivers.

I can see it working well for groups such as classic car owners or unusually low risk occupations such as vicars

David_InsDef

dacouch wrote: »

I can see it appealing to higher risk customers eg young drivers, people with convictions or high performance cars. The problem then being you have pools full of similar high risk drivers and the inevitable claims that entails. The current system means such drivers have their risk diluted by the size of the pool and larger number of lower risk drivers.

I can see it working well for groups such as classic car owners or unusually low risk occupations such as vicars

I think it's novel, but comes back to changing people's mindsets. You're probably right, the greatest appeal would be to higher premium risks - and they're higher premium for a reason. I couldn't even see small numbers of good quality risks working - could you see a half dozen classic car owners or vicars sat round a table and buying into this conceptually?

Aretnap

The website certainly doesn't give the impression that the target market is vicars and classic car owners...