Insurance companies under pressure to raise premiums?
Discussion
My friend has received a letter from his insurance company telling him that while previously 3 points would not make any difference to his premium, following guidance from DoT they will be charging extra for any points.
I will find out the name of the insurers.
This looks like a bit of good old fashioned bullying to me - stats show speeding points are little indicator of risk, but the naughty motorist must pay!
And they get tax on the increased premiums - ker-ching!
I will find out the name of the insurers.
This looks like a bit of good old fashioned bullying to me - stats show speeding points are little indicator of risk, but the naughty motorist must pay!
And they get tax on the increased premiums - ker-ching!
ashes said:
My friend has received a letter from his insurance company telling him that while previously 3 points would not make any difference to his premium, following guidance from DoT they will be charging extra for any points.
Erm. What the smeg has a contract between a private individual and an insurance company got to do with the DOT?
randlemarcus said:
I'd get him to try and get a source fro the Insurance Company. Sounds more like the accountants have asked us to increase gross margin by lieing a little more.
Nothing to do with accountants. More likely some unscrupulous Director with an eye on his bonus and share-options!
sean5302 said:Unlikely. As your original post said, motoring premiums are based on risk, and I've had a clean licence for xx years (don't want to tempt fate...) so if they get points and an unfair premium hike, I've got sympathy for them but I won't be paying more as a result. If it turned out they were subsidising my insurance premium in any way I'd be even more annoyed on their behalf.
Insurance premiums based on risk - albeit a one-sided assessment - has been around for some time, since when has insurance based on speed cameras been a good idea? GATSOs are absolutely HOPELESS at photographing dangerous drivers. All they do is take snapshots of the faster ones.
Yes, absolutely right.
If someone is exceeding the (stupid) limit on this road and cannot see the limit, the camera, the effects on their licence....
Are you happy to pay your insurance to, probably the same company as theirs, for the same policy?
sean5302 said:
Good.
All the law-abiding PHers have to buy insurance.
If the morons who can't see the speed cameras pay more than me, Fantastic!
Insurance based on risk, what a superb idea.
i will soon have 3 points on my license for exceeding the speed limit yet, there was no camera (seen or unseen) involved.
It's all market forces, innit. Insurance quotes all vary wildly as companies have different underwriting rules, and whether you have points or not is just another factor in the equation. Some will ignore it, some will penalise. I think there will always be some companies that ignore 3 or 6 points, just as a way of winning business, if their research shows such drivers are not actually a greater risk.
So - what if we went down the route in which petrol carries third party insurance? If that came to be - then fuel costs would mean economy would go pear shaped ... 
I cannot see the DoT being behind anything like this.
I have two sisters-in-law. One live in the Bolton area und one in the Manchester area.
The Bolton based one works in Chorley und pay less insurance based on post code.
The Manchester based one ist classed as in "high risk" area und she pay more. She work in Bolton ironically.
Both women have the same make car - Vauxhall Vectra.
Both women are same age group - two year gap.
Both women are secondary school teachers.
Both women have clean driving licences und like rest of this family they did IAM as well.
One has a colleague - three points on licence - live in rural outskirt of Chorley und work in the same Chorley school. He also has a car in same insurance class as the Vectra. He pays less because of his post code.
I think sean had better learn a bit more before he posts
I cannot see the DoT being behind anything like this.
I have two sisters-in-law. One live in the Bolton area und one in the Manchester area.
The Bolton based one works in Chorley und pay less insurance based on post code.
The Manchester based one ist classed as in "high risk" area und she pay more. She work in Bolton ironically.
Both women have the same make car - Vauxhall Vectra.
Both women are same age group - two year gap.
Both women are secondary school teachers.
Both women have clean driving licences und like rest of this family they did IAM as well.
One has a colleague - three points on licence - live in rural outskirt of Chorley und work in the same Chorley school. He also has a car in same insurance class as the Vectra. He pays less because of his post code.
I think sean had better learn a bit more before he posts
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