Vehicle insurance increased from £100 to £900 after reporting non-fault incident

AdrianC

GingerBob wrote: »

CUE is another of the UK's Big Brother databases which essentially works against the interests of the general public at large. It's stated intention is maybe quite laudable - to tackle insurance fraud. But of course it's used for much more than that; scope creep has set in. The case under discussion here is a classic example.

Cobblers. It does exactly what it says on the tin.

It's a centralised register of insurance information, logging all crashes and claims that insurers have been notified of.

It stops people who have been involved in a collision from lying to other insurers in the future and getting premiums that are lower than they should be, according to the true risk, which ends up with everybody else's premiums rising.

The OP has been in a collision. The premiums he's getting are rising because he's been in a collision. They may also be ending up higher because of his dishonesty in denying the collision than if he were honest about it.

Of course no insurer shares their actuarial information - it lies at the very heart of their business. Personal lines policies like this are not particularly profitable, so insurers try to mitigate the risks they take, to stop "not particularly profitable" turning into "loss-making". That's why a lot of insurers are dropping out of personal lines such as motor insurance.

If insurers see you as low-risk, then they'll charge you a low premium - the three policies we have come to a total of about £400/yr premium, all fully-comp.

lovinituk

GingerBob wrote: »

Moral of the story, NEVER contact an insurance company unless you absolutely have to. For example, if a third party is naming you, or if the repair costs of not doing so are prohibitively large.


I maintain an index of scumbag pond life filth organisations. Right at the bottom, even below TV Licensing and the DVLA, is the insurance industry.

Oh Bob, you do make me laugh

londonTiger

they gave you a £100 on the assumption that you were safe as houses and it would be an easy £100 for them to make. Then they realised you are risky enough to get yourself involved in an accident. Your fault or otherwise.

Now they realised that you are risky enough to get into an accident therefore they put up yur premiums to a realistic figure.

GingerBob_3

lovinituk wrote: »

Oh Bob, you do make me laugh

Thank you. I'm glad you can see the funny side of some serious issues.

lovinituk

GingerBob wrote: »

Thank you. I'm glad you can see the funny side of some serious issues.

Its not the issue that keeps me amused

agrinnall

GingerBob wrote: »

I maintain an index of scumbag pond life filth organisations. Right at the bottom, even below TV Licensing and the DVLA, is the insurance industry.

Can you share your list and the rankings with us so we know which subjects to bring up if we want to get a rant going? Obviously we know the usual suspects but it sounds like the list may be more comprehensive than I'd thought.

lovinituk

agrinnall wrote: »

Can you share your list and the rankings with us so we know which subjects to bring up if we want to get a rant going? Obviously we know the usual suspects but it sounds like the list may be more comprehensive than I'd thought.

I think we determined a while a go that there is not enough capacity on the forum database to hold bobs list

AdrianC

If we mention enough of them in one go, do you think his blood pressure would rise to the point that he explodes?

SuperAllyB

Bad though the insurance industry is, can't believe for one second that they are below Verified by Visa on Bob's list!

AdrianC

What's wrong with VbV, anyway...?