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kramdra |
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kramdra World Chat Champion
Joined: 28 Oct 2010 Karma :
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fireyphoenix1... |
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fireyphoenix1... Brolly Dolly
Joined: 31 Dec 2010 Karma :
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Posted: 08:40 - 13 Apr 2018 Post subject: |
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Me 6 months ago.
Sees bike for sale.
Runs quote.
5 years NCB and a clean license.
£475 + 200 excess comp. Ok thats not bad not great but its affordable.
Buys bike 4 days later.
Searches for insurance.
Cheapest... THE ABSOLUTE CHEAPEST i could get.
£750 + £500 excess comp.
Absolute bastards.
I absolutely hate our insurance system.I dont think for a second its based in statistics, i think its literally a case of they see what they can get away with.
Personally i think we need a flat rate of basic insurance, then add extras on top of that.Say £100 a year third party on any vehicle then specific vehicle covers added on top of that. ____________________ 2014 Aprillia dorsoduro 750 factory. |
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R1stu |
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R1stu Shrek!
Joined: 12 Mar 2003 Karma :
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Posted: 10:33 - 13 Apr 2018 Post subject: |
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When I got my Pan a few years ago, I insured her with my XJ600 for £120 for the pair for the year. (TPFT)
The last 2 years, I have insured just the Pan, and I have been paying £180 just for the one bike. Ok so its now FC, but TPFT was still over the £120 I paid for both bikes.
Fully comp was less than £10 more than 3rd party only. This year I stayed with Carol Nash, I spent weeks doing quotes for it and for once the renewal in the post was cheaper than last years price, and almost £100 cheaper than the cheapest online price (which was also Carol Nash!)
Its a joke, I am at maximum NCB clean license and no accidents or claims in last 5 years declared either. ____________________ Carbon closet tart! https://www.bikepics.com/members/r6stuk/02r6/
Stolen bike. 2000 R1: https://www.bikepics.com/members/r6stuk/00r1/
Current bike 1991 Honda ST1100 Pan European, 1986 Honda cb350sg (Finished) |
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M.C |
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M.C Super Spammer
Joined: 29 Sep 2015 Karma :
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Posted: 11:13 - 13 Apr 2018 Post subject: |
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fireyphoenix1989 wrote: | Me 6 months ago.
Sees bike for sale.
Runs quote.
5 years NCB and a clean license.
£475 + 200 excess comp. Ok thats not bad not great but its affordable.
Buys bike 4 days later.
Searches for insurance.
Cheapest... THE ABSOLUTE CHEAPEST i could get.
£750 + £500 excess comp.
Absolute bastards.
I absolutely hate our insurance system.I dont think for a second its based in statistics, i think its literally a case of they see what they can get away with.
Personally i think we need a flat rate of basic insurance, then add extras on top of that.Say £100 a year third party on any vehicle then specific vehicle covers added on top of that. |
Was cover starting that day? I noticed when checking prices for the next day, as soon as it passed midnight there was a £500 premium
It's funny how they try to justify auto-renewal with continuous insurance laws, yet their practices meant I had to leave the car uninsured for a day on a public highway |
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Londoner2015 |
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Londoner2015 Spanner Monkey
Joined: 09 Nov 2015 Karma :
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Londoner2015 |
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Londoner2015 Spanner Monkey
Joined: 09 Nov 2015 Karma :
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Posted: 16:51 - 16 Apr 2018 Post subject: |
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Last week the cheapest price I could find to insure our car was £535 with Admiral. It is now £468 (quoted today); same insurer (Admiral), same channel (found on confused.com like with the previous quote), same start date (this Saturday).
Similarly, when I was comparing bike insurance quotes a few weeks ago I couldn't find any that matched what my insurer, Ramasis, quoted for renewing (£180 vs at least £350 on the comparison sites). Yesterday I got an email from confused.com telling me that the cheapest quote is now £190 (Hastings). Price dropped by about half.
WTF?
Maybe one should always get other quotes in the 14-day cooling off period, because, even taking into account the admin costs you might be charged, it might still be worth it to change.
I also wonder to what extent they use other data to simply screw customers they think could pay more. As in, maybe they charge loads for insurance in Chelsea simply because Chelsea residents are richer, not because the risk profile justifies it. Not that I live in the Royal Borough!
The neoliberal economist's response would be that it's a competitive market, and competition will work its magic bla bla bla. In reality, it's a rather dysfunctional market, if prices can swing so much for no apparent reason!!! And of course, as clients, it is impossible for us to distinguish how much is driven by risk profile, how much by profiteering, how much by a half-baked statistical algorithm which spits out nonsensical numbers... |
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Jayy |
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Jayy Mr. Ponzi
Joined: 08 Jun 2009 Karma :
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Jmoan |
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Jmoan Brolly Dolly
Joined: 18 Nov 2015 Karma :
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Old Thread Alert!
The last post was made 5 years, 348 days ago. Instead of replying here, would creating a new thread be more useful? |
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