Ridiculous car insurance premium increase by Bank of Scotland

Lewis_Gerolemou

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

oldernonethewiser

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

Lewis_Gerolemou

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

But I driving my own car means I will be less likely to drive my wife's so less chance of having an accident in it and making a claim. I'm not convinced; there's no logic to this.

cw8825

Lewis_Gerolemou said:

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

But I driving my own car means I will be less likely to drive my wife's so less chance of having an accident in it and making a claim. I'm not convinced; there's no logic to this.

Correct but they are concerned about the chances of you having an accident fullstop not just in your wife’s car

The logic isn’t great but it is there 

XRS200

Nope, can't see any logic at all for an increase

Confusedlad

I am in the same position as the OP.  My insurance is definitely cheaper as I am the named driver on my wife's car and her on mine.  Maybe some insurers have different views on this. Try Aviva.

liveletlive

I think insurance companies are out of control. For extremely unfortunate reasons I have had to deal with multiple insurances recently. Not a single one just paid out based on their policy wording. They all tried to dispute it first. At one point we were told my five year old had cancer but the rest of us are free to travel. That was just the tip of the iceberg.

DullGreyGuy

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

Mass market consumer insurance isn't priced on logic but of statistical analysis of past experience.... I have 5m customers who only drive 1 car and I have 3.5m customers that state they have access to more than 1 car. Over the last 10 years those with access to another vehicle have a 5% higher average claim experience (frequency x severity)  hence I will now load policies 5% if they declare they have access to another vehicle. 

If you want to try and rationalise it then my logic would be different... some people will regularly drive 2 cars and so wont be so bad but others will only very occasionally drive the "other vehicle" (and being a named driver you are not the main driver of this vehicle so its likely this is the "other vehicle" to you) and as such not be used to the difference in width, stopping distances etc so may be more likely to have an accident.  

Lewis_Gerolemou

DullGreyGuy said:

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

Mass market consumer insurance isn't priced on logic but of statistical analysis of past experience.... I have 5m customers who only drive 1 car and I have 3.5m customers that state they have access to more than 1 car. Over the last 10 years those with access to another vehicle have a 5% higher average claim experience (frequency x severity)  hence I will now load policies 5% if they declare they have access to another vehicle. 

If you want to try and rationalise it then my logic would be different... some people will regularly drive 2 cars and so wont be so bad but others will only very occasionally drive the "other vehicle" (and being a named driver you are not the main driver of this vehicle so its likely this is the "other vehicle" to you) and as such not be used to the difference in width, stopping distances etc so may be more likely to have an accident.  

5%, mine has been loaded 26%.

cw8825

Lewis_Gerolemou said:

DullGreyGuy said:

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

Mass market consumer insurance isn't priced on logic but of statistical analysis of past experience.... I have 5m customers who only drive 1 car and I have 3.5m customers that state they have access to more than 1 car. Over the last 10 years those with access to another vehicle have a 5% higher average claim experience (frequency x severity)  hence I will now load policies 5% if they declare they have access to another vehicle. 

If you want to try and rationalise it then my logic would be different... some people will regularly drive 2 cars and so wont be so bad but others will only very occasionally drive the "other vehicle" (and being a named driver you are not the main driver of this vehicle so its likely this is the "other vehicle" to you) and as such not be used to the difference in width, stopping distances etc so may be more likely to have an accident.  

5%, mine has been loaded 26%.

So is it the amount of increase or the fact it has increased That you disagree with?

as in if it was £5 would you accept that

DullGreyGuy

Lewis_Gerolemou said:

DullGreyGuy said:

oldernonethewiser said:

Lewis_Gerolemou said:

I am the named driver on my wife's car insurance with Bank of Scotland. I recently received the paperwork from them and noticed an error in that it said I did not have the use of another car. I do have my own car insured with AA so I contacted BOS to inform them of the error, I hoped that my wife's premium would be reduced. I was told that the change would incur a £25 admin charge but figured out that it would be offset by a possible refund. I was put on hold for a couple of minutes and then told that the premium would be increased by almost £90. I queried this and was told that having my own car would increase my chance of having an accident????? I just can't see the logic of this decision.

To add insult to injury this morning we received a request from BOS to respond to a survey. I have replied.

The more cars you have the potential to drive the more you may drive.  The more you drive the more likely you are to be involved in an accident.

I don't approve of it but I understand the reasoning

Mass market consumer insurance isn't priced on logic but of statistical analysis of past experience.... I have 5m customers who only drive 1 car and I have 3.5m customers that state they have access to more than 1 car. Over the last 10 years those with access to another vehicle have a 5% higher average claim experience (frequency x severity)  hence I will now load policies 5% if they declare they have access to another vehicle. 

If you want to try and rationalise it then my logic would be different... some people will regularly drive 2 cars and so wont be so bad but others will only very occasionally drive the "other vehicle" (and being a named driver you are not the main driver of this vehicle so its likely this is the "other vehicle" to you) and as such not be used to the difference in width, stopping distances etc so may be more likely to have an accident.  

5%, mine has been loaded 26%.

I dont have access to rating tables at the moment so cannot say if its 5%, 26% or 2,000%, the random choice of a number was just for illustration purposes. 

That said, if it was 2,000% then more likely the insurer would be questioning if they want to right the risk at all.