You have no idea how insurance works then do you?
What about vehicle type/ age...
Experience of person...
What type of use is the insurance for?
Where car is kept...
Just a few.
All valid questions to asses risk.
People named Mohammed apparently pay more for car insurance
- Thread starter dowie
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You have no idea how insurance works then do you?
What about vehicle type/ age...
Experience of person...
What type of use is the insurance for?
Where car is kept...
Just a few.
All valid questions to asses risk.
Nope. Read elmarkos post. Can't use that info.
Well if he thinks that he is clueless.
Admittedly I don't work in motor insurance however I deal with Marine, Aviation and Energy...
So much information can and is used by underwriters/ actuaries to model, price risk..
Name isn't one. However age(experience) and location are regularly used.
Surely easily attained by proxy by asking for length of time licence has been held, there will be the odd person passing tests in their 30s but by and large if you bet on someone having held a licence under a year being under 20, I reckon you'd come out on the right side of that bet more often than not
Soldato
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Check the difference in quote between a fresh 17 YO driver and a fresh 25 YO that has just past, with the same car and address. There is a considerable difference
Where I live, insurance is based purely on the car, they don’t ask you anything about previous claims or driving history. They do ask for your name and address, but those are simply contact details and doesn’t affect the premium at all.
I pay £340 for my Audi A6 and £280 for my Dodge Caliber, both fully comp for any driver on a US / EU / Mexican licence. I’m 23 and used to pay upwards of £1k in the UK, so that was a nice surprise.
I have absolutely no idea how the companies make any money over here given the amount of accidents I see every day, I can only assume it’s due to the fact we don’t have the compo culture you get in the UK.
I pay £340 for my Audi A6 and £280 for my Dodge Caliber, both fully comp for any driver on a US / EU / Mexican licence. I’m 23 and used to pay upwards of £1k in the UK, so that was a nice surprise.
I have absolutely no idea how the companies make any money over here given the amount of accidents I see every day, I can only assume it’s due to the fact we don’t have the compo culture you get in the UK.
well that isn't right at all, you'd have rather dubious models, additional unknown risk on the books and therefore higher premiums
That was my point. There's a reason so much information is required.
ah sorry, had skimmed read through and didn't realise
Labour on repairs is cheaper I would have thought.
Parts too probably
Every company has to make a prophet some how....
(I think someone else made that joke already though)
Yup, presumably.
I'd guess that another factor is how much they value life too - what does it cost if you kill someone or leave them permanently disabled...
plus perhaps Mexican actuaries are lazy
Very true - didn’t think of that.
Definitely not - can confirm, having just paid £1750 to have a steering column replaced in my Audi
Very true - didn’t think of that.
Definitely not - can confirm, having just paid £1750 to have a steering column replaced in my Audi
Ah but did you go for official Audi or locally produced knock off/patent parts?
Official Audi, pattern parts don't exist for that car here. You'd think that would be reflected in a high premium, but it's not much more than my Caliber which has pattern parts available for almost everything.
Soldato
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You cant compare coverage between countries. Claim rates, road and people are different, as well as how the insurance companies operate. Many parts of the world require insurance to drive but have little regulation on it, so you can buy insurance for you or your vehicle depending on the country and even if you had a crash you have to jump through hoops to claim any amount or a token amount.
By comparison we probably have stricter standards of minimal cover required and how insurance companies can operate and their rates likely have to reflect that as well as the affordability.
By comparison we probably have stricter standards of minimal cover required and how insurance companies can operate and their rates likely have to reflect that as well as the affordability.
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Genuinely interesting. It must really be down to rates of pay and probably lower operating costs through regulation etc. Wonder if people are more tolerant of minor shunts and stuff out there too.