Insurance Doubled

System

CoffeeandStitches wrote: »

Insurer had 20 claims from people in red cars in 2015
Insurer had 2 claims from those in blue cards in 2015

Red car = higher premium.

It's also daft. Red was the popular colour in 2015. But Blue is the favoured colour in 2016, so all those high risk drivers in their new blue cars will now be getting lower premiums because the insurers have measured the wrong thing.
They failed to notice that some risks are absolute, whereas some are coincidental and change from year to year. They are using a flawed methodology that will always give them out of date information.

Quentin

madmumof5 wrote: »

He has been put on ESA by dr who says he is not fit for work due to his autism also his car changed before the employment status was updated so no point has been missed......

Check whether his present insurer distinguishes between unemployed and unemployed on medical grounds.

If they do then do some dummy quotes online with "unemployed" and "unemployed on medical grounds" and see if there is a difference.


If there is and it is cost effective to do so (bearing in mind any admin charge his insurer makes for making changes) then get him to inform his insurer of his change in employment status.

forgotmyname

Still unemployed going by what my insurer asked whilst i was off work on the sick.

They said i was still employed if receiving wage slips and not in receipt of benefits. Job seekers and ESA both included in benefits.

Unless he has a job giving him a wage slip then the insurer may still class him as unemployed. Choose not working due to ilness maybe but its probably going to be the same.

CoffeeandStitches

Clifford_Pope wrote: »

It's also daft. Red was the popular colour in 2015. But Blue is the favoured colour in 2016, so all those high risk drivers in their new blue cars will now be getting lower premiums because the insurers have measured the wrong thing.
They failed to notice that some risks are absolute, whereas some are coincidental and change from year to year. They are using a flawed methodology that will always give them out of date information.

Agreed! it would be a more accurate analysis if it was all calculated using specifics as a ratio of total cars on the road against specific incidents. makes my head hurt - I could never be an actuary!