Insurance tossers.

[Deleted member 26715]

Oh the irony.

if only you knew

 

[mustang1]

All insurance apart from car insurance which is a legal requirement is a gamble, I've lived in this house for over 35 years, I've had both buildings & contents insurance for the whole period & still do. In all that time I have only every claimed once, a leaking pipe in the loft, total cost was £350 if I had not had any insurance I would be quids in, but there is always a chance.

Car insurance is just legalised theft

I heard a long time ago that car insurance was not a legal requirement if you could cover the cost of damages. For example if insurance covers one million pounds and you had one million set aside just for insurance puroospu then you don't need to buy insurance from the company .

 

[Deleted member 26715]

I heard a long time ago that car insurance was not a legal requirement if you could cover the cost of damages. For example if insurance covers one million pounds and you had one million set aside just for insurance puroospu then you don't need to buy insurance from the company .

Correct I'm unsure of the actual number, but firms like BT, Severn Trent etc. have their own bond lodged somewhere.

 

[Arjimlad]

I heard a long time ago that car insurance was not a legal requirement if you could cover the cost of damages. For example if insurance covers one million pounds and you had one million set aside just for insurance puroospu then you don't need to buy insurance from the company .

I wouldn't bank on that being accurate advice. But it does appear there may be some merit in it, s144 RTA 1988 sets out that one must deposit with the Court
the sum of £500,000, at a time when the vehicle is being driven under the owner’s control. Or something like that anyway.

 

[Smokin Joe]

Correct I'm unsure of the actual number, but firms like BT, Severn Trent etc. have their own bond lodged somewhere.

As do government departments, I believe.

 

[srw]

I should think that insurance companies, if they want more money, should be doing more to minimize their risk. A case in point: Up until the 1930's, I don't think anyone in the States needed or had a drivers' license, until insurance companies prodded for it. Nowadays, they seem to have their head in the sand about what global warming, the opioid crisis, or many other health and welfare issues currently being neglected in the States and elsewhere are doing to their premium payouts. I realize that with catastrophes they don't actually pay out, they have reinsurance through a company like Munich RE, but their premiums to them could go up as well.

https://www.munichre.com/en/homepage/index.html

Perhaps you might search online for "ClimateWise". Be prepared to have your preconceptions shattered.

 

[nickyboy]

It's already been discussed at length, but there are many reasons, authorised repairs is one of the biggest, car hire is another, the prices paid for written off cars, cars written off when they are still economically viable for the customer, charges to make changes, auto renewal, cancellation fees, having to insure all cars when customers can only be driving any one car at once.

Best laugh I've had all day, best bit is you actually believe it don't you?

Sounds like a bit of a green pen complaint list to me. I'm guessing you feel you've been wronged by the corrupt and incestuous industry in the past?

 

[colly]

When I buy any insurance I hope to God I am wasting my money.

 

[Deleted member 26715]

I'm guessing you feel you've been wronged by the corrupt and incestuous industry in the past?

Oh yes, blamed for an accident that wasn't my fault, by a known fraudster, but clearly that wasn't any of their concern, the bean counters decided it was better to settle than risk being taken to court by the fraudster. Even though they had proof he had the same accident 2 days before & was claiming for the same damage to his car & the same injuries, even though I was travelling at less than 2 mph & never actually made contact with his car. It also cost me money for the next few years as my premiums went up. I'm just bitter & twisted, but I had the same view before the none accident & that just reinforced it.

 

[Drago]

Aye, you have to lodge the bond with a Magistrate. However, it makes getting insurance and tax difficult, so the only folk that tend to do it are vehicle owned by the Crown, who dont get taxed anyway.

 

[Gravity Aided]

Perhaps you might search online for "ClimateWise". Be prepared to have your preconceptions shattered.

I like that, now all you have to do is get those who believe that science Trumps "alternative truth" to believe it. It may not be so much the policy makers at the top of companies who don't believe it, but rather the individuals within insurance companies that could use such information. I may have an idea of this. I live in Bloomington-Normal, Illinois.

 

[screenman]

My middle lad lives in Provence, two weeks ago his van was stolen with his tools in it, the insurers have just agreed on 40% over current market value for the van and full replacement of tools.

 

[Deleted member 26715]

https://www.bbc.co.uk/news/business-45664985

 

[I like Skol]

https://www.bbc.co.uk/news/business-45664985

"In a competitive free market, where three out of four people shop around, there is no easy fix available, and these measures will take time to bed in," said Huw Evans, director general of the Association of British Insurers.

That's ok then? You can continue to milk the remaining 25% of your customers with inflated premiums and profit margins because it is their fault they haven't got the confidence or expertise to shop around!

 

[Nigel-YZ1]

I have a friend who can't get on with computers and the internet. He works every weekend because his employer has an online shift booking system, and so gets allocated the dregs after everyone else has claimed the weekdays. It's the same with insurance for him. He's been with the same company for years, and has to rely on the phone to try for a better deal. He's 55 years old and is worrying how expensive his new 1 litre car will be to insure.