pmsl @insurance

mejinks

mejinks

mejinks

Soldato
Joined
28 Oct 2002
Posts
5,038
Location
Hiraeth
Soooo, just had the best quote of £860 from Admiral for my E60. All standard and parked on the street. This is up from £390 last year with no accidents or other claims.

Just purely as a **** take, I quoted on a 4lt TVR. N reg, but worth about the same. No tracker, no alarm, parked in the same place etc £640 :eek:

Riiiiiight. How much is the fine for not driving with insurance? They wonder why driving without insurance is on the up too :rolleyes:
 
Stats will show that TVRs are crashed less and cause less damage; generally because they are 2nd cars which arn't used very much. An E60 will have all sorts of claims against it in their statistics.

I don't see how people can't understand that insurance is purely based on stats. They might seem mildly illogical as one would think more people crash TVRs than E60s... but that isn't the case in reality.
 
So we all go out and buy big powerful cars to enjoy cheaper insurance?

I just quoted on a Noble M12. Now if only I had the money to afford one.
 
If everyone bought big powerful cars, no, they wouldn't be cheaper, because they would get crashed more and thus they would cost insurers more money; a cost they would pass onto their consumers.
 
Hxc said:
I don't see how people can't understand that insurance is purely based on stats. They might seem mildly illogical as one would think more people crash TVRs than E60s... but that isn't the case in reality.
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They get crashed more because there are thousands more of them, hardly a proper stat? I think insurance companies just make stats up to pelase themselves tbh, is there any regulation or disclosure of the "stats" they use?
 
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A Ferrari 430 parked on the street would cost me £1890 fc.....

A BMW 750i worth 10k is £702.17

What car is cheapest?
 
thecremeegg said:
They get crashed more because there are thousands more of them, hardly a proper stat?
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The value of claims in relation to the number of cars insured will be higher on a mondeo than on a TVR. The number of cars there are is fairly irrelevant unless we are talking about total one off cars which cannot be replaced in the event of theft etc, where a higher premium might be given... but then you would be with a proper specialst who work very differently.
 
thecremeegg said:
They get crashed more because there are thousands more of them, hardly a proper stat? I think insurance companies just make stats up to pelase themselves tbh, is there any regulation or disclosure of the "stats" they use?
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Doesnt work like that...

If 10000 on the road and every year 100 are crashed then the stat is 1% chance of crash. Then you work the average claim.

Say thats £10000 then you need to charge £100 from each person for that car in order to cover the risk of crashing.

(Obviously you need to add in theft damage in too!)

Then you have 5000 Ferraris and 15 are crashed every year... thats 0.3%

Average claim is 25k so the cost to cover is £75 each.

The Ferrari was probably driven 2-3k miles average wheras the other car would be driven 10-15k average so much more opportunity to crash!

Probably really over complicated that but yeah >.>
 
Move to a different insurer. Like many financial services - credit cards, ISAs, etc. - insurance companies take advantage of a lot of people's intertia when it comes to hunting around at renewal time. Direct Line just quoted £620 for our Golf...up from £370 last year. Therefore we will be leaving for someone offering new customers a great deal. We've had quotes for less than half that.
 
jamief said:
You seem to fundamentally misunderstand how insurance underwriters calculate risk.
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I'm looking for education not condecension.

Robbie G said:
Move to a different insurer. Like many financial services - credit cards, ISAs, etc. - insurance companies take advantage of a lot of people's intertia when it comes to hunting around at renewal time. Direct Line just quoted £620 for our Golf...up from £370 last year. Therefore we will be leaving for someone offering new customers a great deal. We've had quotes for less than half that.
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Unfortunately, thats the lowest I can get.

I'm so ****** of with insurance right now. Nobody who works in insurace can give a straight answer. You try to get insurace for public liability, 5 million ******** choices, you try to get motor insurance on a company vehicle another 5 million choices, pick the wrong one and its you that gets shafted by the law.

The whole insurance system in this country is a joke. A laughable joke. People take the **** and its the people who don't that end up paying for it.

**** em. :mad:
 
:eek: It's at times like this that I like to get some perspective. People in Africa are starving, there are lots of people poorer than you, or even dead, etc.. :p
 
Everytime i go to insure my car the price has increased. Gone up from £460 to £620, and thats changing insurance companies every year as they can never match quotes i get. Think the top quote i had was around 5k, yeah right, as if i would take out that policy.
 
For some reason my insurance on my Primera GT went up from £515 to £986! I did some hunting about and found a quote for £585 so I took it. Stupid that 2 years ago with less no claims and when I was a student, I insured a Celica GT for £470. I am 23 with 5 years no claims.
 
helpimcrap said:
buy a car that old people have... not drug dealers.... :p
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We just did that!

Our best quote was £300.12 fully comp with me as main driver and the wife as named driver.

We can add breakdown cover for £7 per month, but the quote is so low i think we might just pay the full lot in one go and save a bit in the long run.

Oh the car is a Fiat Stilo 1.4, not a particularly great postcode, we have both been driving or 9+ years and we have 7 years NCB.

Interestingly enough i rang direct line who we are with at the moment and their cheapest quote was £738.00 :eek:
 
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