Car insurance ng obviously | Page 2 | Vital Football

Car insurance ng obviously

Vambogills said:
We are paying the price for more expensive cars that are more sophisticated. Repairs therefore take longer. Add to that the increased cost of parts and paint and it's not surprising everyone is being quoted much higher prices to renew.
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Average insurance premium rise in the UK from 2022-23 was 34%. In France the figure was 2%. 5% in Spain, 6% in Italy, and 13% in Germany. Everything you point to is true in those countries, too.

Under-regulated British insurers are engaged in price gouging.
 
cymrugills said:
Average insurance premium rise in the UK from 2022-23 was 34%. In France the figure was 2%. 5% in Spain, 6% in Italy, and 13% in Germany. Everything you point to is true in those countries, too.

Under-regulated British insurers are engaged in price gouging.
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Didn't want to mention the 'B' word and ruin the thread.
 
ian08040 said:
Cheers everybody,appreciate
Had a good delve,tried Top Cash Back,quite amazed Tarian,still Tesco still exactly same cover,now £394.happy bunny
Not a clue how cash back works,but sure get told lol,us old gits lol
Thanks again
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Assuming you clicked through to Tesco via TCB, you must have created an Account.
In a few weeks, if Cash Back has been recorded, you should get an email.

Regardless, in about a month, login and check the Dashboard.
If it has worked (and is has for me about 10 times) a balance should show.

You can withdraw by cash transfer - or get a small extra % with a gift card from over 80 "partners".
From 6% to 7.5% for a pub or restaurant chain.
Less for well known retailers.
10 % for a Virgin Experience !
 
I got an email from my Insurer today saying they are unable to quote me a renewal price this year as they don't think they can be competitive!
 
Tarian said:
Assuming you clicked through to Tesco via TCB, you must have created an Account.
In a few weeks, if Cash Back has been recorded, you should get an email.

Regardless, in about a month, login and check the Dashboard.
If it has worked (and is has for me about 10 times) a balance should show.

You can withdraw by cash transfer - or get a small extra % with a gift card from over 80 "partners".
From 6% to 7.5% for a pub or restaurant chain.
Less for well known retailers.
10 % for a Virgin Experience !
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Really appreciate
 
Vehicle insurance is a huge scam in this country.

When I visit friends in Europe I can drive their vehicles because of four things: 1) The vehicle is insured, 2) I have a driving licence, 3) i am over 25, and 4) I have their permission.

Yet when they visit me in the UK, despite having a licence, being over 25 and having my permission, they cannot drive my vehicle (legally, at least) because they are not personally insured to do so.

It would be so.much fairer if it were - as it is elsewhere - the vehicle rather than the driver that needed to be insured.
 
Buddha said:
Vehicle insurance is a huge scam in this country.

When I visit friends in Europe I can drive their vehicles because of four things: 1) The vehicle is insured, 2) I have a driving licence, 3) i am over 25, and 4) I have their permission.

Yet when they visit me in the UK, despite having a licence, being over 25 and having my permission, they cannot drive my vehicle (legally, at least) because they are not personally insured to do so.

It would be so.much fairer if it were - as it is elsewhere - the vehicle rather than the driver that needed to be insured.
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You can get such insurance in the UK but because the insurance company don't know the the driving history of anyone who will actually drive it then the fee charged is too expensive for the average person to pay for.

The sort of insurance you dream of is typically offered to and used by companies who have a fleet of vehicles in the vehicle sharing pool and will normally have conditions that it doesn't cover drivers with driving convictions etc.
 
Gills77 said:
RE insurance it should be illegal to discriminate against (increase quote) for non-fault claims. This really ****es me off.
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The problem is that the insurance company of the guilty party threatening to contest the claim in court that they are liable and since the legal fees will usually be several magnitudes more expensive than paying half the repair bill, it is cheaper to just agree 50-50 guilt. Obviously that payout "loss" will be passed onto the customers down the line.

This is why getting a dashboard camera is a good idea as any accident that clearly wasn't your fault is unlikely to be contested by the guilty driver's insurance provider unlike most claims whose guilt is decided on who writes the most convincing testimonial.
 
Baghdad_Rob said:
You can get such insurance in the UK but because the insurance company don't know the the driving history of anyone who will actually drive it then the fee charged is too expensive for the average person to pay for.

The sort of insurance you dream of is typically offered to and used by companies who have a fleet of vehicles in the vehicle sharing pool and will normally have conditions that it doesn't cover drivers with driving convictions etc.
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What you say sounds reasonable enough but if it were true how comes in other countries it is the vehicle and not the driver who is insured?

How comes I can drive my mates' motors when I'm abroad but they can't drive mine when they're here?
 
Buddha said:
What you say sounds reasonable enough but if it were true how comes in other countries it is the vehicle and not the driver who is insured?

How comes I can drive my mates' motors when I'm abroad but they can't drive mine when they're here?
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Probably because your mate has "any driver" insurance.

A brief read of car insurance in other countries can seem like it is the vehicle insured - but that is because that is compulsory (i.e. insuring the vehicle not the person).

Reading on, it seems that most countries approach "risk" in a similar way. i.e
i) the driver's record
ii) locus of vehicle
iii) cost of vehicle repairs (so primarily the insured vehicle)

Therefore limiting to one or two named drivers reduces premiums - as that risk is more easy to quantify than the risk of an unknown number of random strangers.

Apparently one contributor to the rise in everyone's car insurance is electric vehicles.
The battery alone can cost £7,000 (I'm told) - and insurers are currently pricing in "write-off" of battery rather than repair.
 
Many insurers are withdrawing from the motor insurance market. As mentioned previously, I know that at least MoreThan have done so this year.

Insurance companies aren't mugs. If it was mega profitable, why would they withdraw?

Also, you get incidents like the fire in that Airport Car Park, which would have included many performance cars. Care to guess how much that has cost the industry in total claims?
 
GillsBluenose said:
Insurance companies aren't mugs. If it was mega profitable, why would they withdraw?
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It’s not!

2022 was an horrendous year for motor insurers. Huge supply chain issues lead to a huge rise in claims costs. Lots of factors (Ukraine War, Brexit, precious metal scarcity, reduction in courtesy car pools following Covid).

On average motor insurers paid out £120 for every £100 received in premiums. Hence mass withdrawals and structural changes.

Prices for 2023 were largely aimed at reducing the loss (father than making a big profit) with the aim of returning to profit in 2025 and beyond.

Any increase in premiums not only factors in claims/cost inflation over the past 12 months but also needs to predict the same for the 12 months ahead otherwise further big losses (which was the issue in 2022 - the claim inflation wasn’t foreseen - understandably in the case of the impact of Ukraine (which played a major role in supply of car parts)).

It does make me laugh when I see comments like ‘they’re all in it together’. It’s very much dog eat dog with competing insurers desperate to shave whatever they can off of premiums to appear ‘Top of Screen’ on aggregator sites through which the vast majority of business is done.

We shouldn’t though be seeing insurers reducing their renewal premiums to keep the business without making changes to the insurance offered (e.g. reducing annual mileage, driver details).
 
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