Resend my activation email : Register : Log in 
BCF: Bike Chat Forums


Insurers – prices pulled out of their ***** ?

Reply to topic
Bike Chat Forums Index -> General Bike Chat Goto page Previous  1, 2
View previous topic : View next topic  
Author Message

kramdra
World Chat Champion



Joined: 28 Oct 2010
Karma :

PostPosted: 23:32 - 12 Apr 2018    Post subject: Reply with quote

Insurance systems are not as smart as people think. If the newest tech was an F1 car, most are still driving ladas.
 Back to top
View user's profile Send private message You must be logged in to rate posts

fireyphoenix1...
Brolly Dolly



Joined: 31 Dec 2010
Karma :

PostPosted: 08:40 - 13 Apr 2018    Post subject: Reply with quote

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.
Rolling Eyes 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.
 Back to top
View user's profile Send private message You must be logged in to rate posts

R1stu
Shrek!



Joined: 12 Mar 2003
Karma :

PostPosted: 10:33 - 13 Apr 2018    Post subject: Reply with quote

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)
 Back to top
View user's profile Send private message Send e-mail Visit poster's website You must be logged in to rate posts

M.C
Super Spammer



Joined: 29 Sep 2015
Karma :

PostPosted: 11:13 - 13 Apr 2018    Post subject: Reply with quote

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.
Rolling Eyes 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 Shocked

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 Rolling Eyes
 Back to top
View user's profile Send private message You must be logged in to rate posts

Londoner2015
Spanner Monkey



Joined: 09 Nov 2015
Karma :

PostPosted: 16:42 - 13 Apr 2018    Post subject: Reply with quote

I remembered another one: some years ago I was considering buying a cheap 125 Sym scooter (in the end I didn't). Insuring it would have cost me about £300; however, a new version had just come out - just a facelift, no major changes. Insurers did not have it on their databases yet, so most were refusing to insure it. After lots of attempts I found one insurer who was willing to insure it... for £1,100 , because it was "a bespoke quote on a specialised vehicle"! The dealer insisted he had sold loads, and that his clients had never had issues with insurance.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Londoner2015
Spanner Monkey



Joined: 09 Nov 2015
Karma :

PostPosted: 16:51 - 16 Apr 2018    Post subject: Reply with quote

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...
 Back to top
View user's profile Send private message You must be logged in to rate posts

Jayy
Mr. Ponzi



Joined: 08 Jun 2009
Karma :

PostPosted: 17:52 - 16 Apr 2018    Post subject: Reply with quote

In my experience, they just make it up as they go. Quoted £500 on the phone, £297 online.

If you get a rep on the phone who is trying to play hard ball, put the phone down and start again with someone else... there's always someone more sympathetic than the cunt you just spoke to.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Jmoan
Brolly Dolly



Joined: 18 Nov 2015
Karma :

PostPosted: 18:24 - 16 Apr 2018    Post subject: Reply with quote

Londoner2015 wrote:


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...


It isn't really a competitive market when the state unlawfully forces it on you.
 Back to top
View user's profile Send private message You must be logged in to rate posts
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?
  Display posts from previous:   
This page may contain affiliate links, which means we may earn a small commission if a visitor clicks through and makes a purchase. By clicking on an affiliate link, you accept that third-party cookies will be set.

Post new topic   Reply to topic    Bike Chat Forums Index -> General Bike Chat All times are GMT + 1 Hour
Goto page Previous  1, 2
Page 2 of 2

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

Read the Terms of Use! - Powered by phpBB © phpBB Group
 

Debug Mode: ON - Server: birks (www) - Page Generation Time: 0.09 Sec - Server Load: 0.16 - MySQL Queries: 17 - Page Size: 60.97 Kb