Car Insurance Claim Query

tifo

DullGreyGuy said:

tifo said:
Insurers never lose out.

How do insurers never lose out?

Because someone always pays in higher premium, that's calculated in their risk profiles. Even with 'for information only' or non fault claims premiums still go up as you've become a risk and most people pay for where they live even if they've never had an accident. When you ask the insurers, they say "it's your postcode" etc. There's plenty of evidence that insurers profile different people in different ways, some judgmental.

Insurers also waste a lot of money on claims, esp at court. They're just not bothered about costs. I'm talking from many years of experience.

Anyway, this discussion is not about insurers but the OP's accident.

DullGreyGuy

tifo said:

DullGreyGuy said:

tifo said:
Insurers never lose out.

How do insurers never lose out?

Because someone always pays in higher premium, that's calculated in their risk profiles.

So you have an accident and knock a CEO off their bike putting them into a persistent vegetative state which your insurer reserves £3m for the claim... you think your premiums are going to go up to £3m next year? Do you think you'd stay with that insurer if thats what they quoted you? To the next insurer you're just someone who's had a fault claim so charged 20% more not £3m more.

tifo

DullGreyGuy said:

So you have an accident and knock a CEO off their bike putting them into a persistent vegetative state which your insurer reserves £3m for the claim... you think your premiums are going to go up to £3m next year? Do you think you'd stay with that insurer if thats what they quoted you? To the next insurer you're just someone who's had a fault claim so charged 20% more not £3m more.

Come on, you know how insurance works. The liability risk is spread out between the customers depending on their risk profile.

Like i said, this is not a discussion about insurance companies ...