Why is comprehensive insurance often cheaper than TPFT ?

Mercdriver

SouthLondonUser wrote: »

I don!!!8217;t want to ask the insurers!!!8230; Do you even listen to yourself?

Who do you think I would be able to speak to if I called the insurers? The head actuary, or some clueless person in a call centre? And what could they possibly ever tell me?

Last year my insurance quoted me about £400 to renew my bike policy; on the website of the same insurer, the price came to ca. £240. Unfair, but understandable !!!8211; the !!!8216;lazy tax!!!8217;. This year it was the other way round: the insurer sent me a renewal quote for £180, but their website quoted £600 (the day after I received the renewal quote in the post). I rang up to ask if there wasn!!!8217;t some kind of error, and the call centre lady said there wasn!!!8217;t: the website price was more than 3x higher than the renewal price. Why? Because the computer said so.

And, by the way, if you had any knowledge of how some of these statistical algorithms work, you!!!8217;d appreciate that more often than not even the insurers !!!8220;don!!!8217;t know!!!8221;, in the sense that most of these algorithms are a non-transparent black box, with which it can be almost impossible to isolate and assess the impact of a single factor.

Are you allowing your computer to fill in your apostrophes? Put them in manually yourself and your posts will be slightly easier to read.

You should try and ask the insurance company. Doubt they will give you chapter and verse though. Then perhaps start a debate in the Moneysaver's Arms.

SouthLondonUser

I had typed the text in Word, copied it over and Windows messed up the characters for some reason. Sorry about that.