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wizzbilly
955 posts
62 months
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As said just tell them 12 caravan site and screw the plod
Its the greedy fookers who make it unaceptable to pay and be a decent law abiding citizen .#
i work 60hrs a week and struggle to pay my insurance and morgage even on 30k a year its a pss take
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ascayman
3,183 posts
85 months
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You haven't become more of a risk because you are paying by direct debit, you are paying more because the nice guys at the insurance company are lending you the money to pay your premium.
Is there any specific reason why you are so special that companies should lend you money for free? Does your bank? Your tailor? Do tescos?
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Mr2Mike
9,448 posts
124 months
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J4CKO said: It is funny as other service industries give you a discount for paying by Direct Debit, it isnt like they provide the whole years insurance in one go They provide you with a one year contract when you take out the policy. Try taking out 12 one month policies and see how much it costs you!
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Noger
6,779 posts
118 months
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ascayman said: You haven't become more of a risk because you are paying by direct debit Yes you have. If I can do calculations based on age and sex, I can do it on DD/Annual. They cost more per claim.
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HBFS
667 posts
60 months
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Noger said: ascayman said: You haven't become more of a risk because you are paying by direct debit Yes you have. If I can do calculations based on age and sex, I can do it on DD/Annual. They cost more per claim. I agree with Acscayman in a way; The additional charge incurred when paying monthly is purely finance costs. There is no additional charge to the actual policy itself. They are two separate chargeable items that are combined into one payment for simplicity.
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Noger
6,779 posts
118 months
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HBFS said: I agree with Acscayman in a way; The additional charge incurred when paying monthly is purely finance costs. There is no additional charge to the actual policy itself. They are two separate chargeable items that are combined into one payment for simplicity. No. For example Admiral offers discount for paying Annualy, which it then removes if you pay via DD. It ends up looking like a credit charge, but it is a lot more than that. Paying insurance monthly is a lifestyle indicator.
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Mr2Mike
9,448 posts
124 months
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HBFS said: I agree with Acscayman in a way; The additional charge incurred when paying monthly is purely finance costs. There is no additional charge to the actual policy itself. They are two separate chargeable items that are combined into one payment for simplicity. I suspect the point is that the insurance companies super secret database of statistics allegedly show that people that can't afford to pay vast sums of money in one lump are more likely to make a claim. The same kind of twisted stats that suggest if someone hits your car and you claim off their insurance, then you are more likely to have a claim made against your own insurance. It seems to me that the technology in The Hitchhikers Guide To The Galaxy is no longer fiction; insurance companies have been successfully operating "Somebody Elses Problem" (SEP) field generators and "Infinite Improbability Drives" for a number of years. Do Dell make a Brambleweeny57 sub-meson brain yet?
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Mr2Mike
9,448 posts
124 months
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Noger said: Paying insurance monthly is a lifestyle indicator. Really? If a young man has to pay several thousand pounds for a small hatchback (as most do), what sort of lifestyle does that suggest? A scrounging doley up to his armpits in debt?
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Donatello
Original Poster
1,034 posts
30 months
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Mr2Mike said: Noger said: Paying insurance monthly is a lifestyle indicator. Really? If a young man has to pay several thousand pounds for a small hatchback (as most do), what sort of lifestyle does that suggest? A scrounging doley up to his armpits in debt? Exactly my thought. What a ridiculous thing to say!
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Noger
6,779 posts
118 months
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Mr2Mike said: I suspect the point is that the insurance companies super secret database of statistics allegedly show that people that can't afford to pay vast sums of money in one lump are more likely to make a claim. The same kind of twisted stats that suggest if someone hits your car and you claim off their insurance, then you are more likely to have a claim made against your own insurance.
It seems to me that the technology in The Hitchhikers Guide To The Galaxy is no longer fiction; insurance companies have been successfully operating "Somebody Elses Problem" (SEP) field generators and "Infinite Improbability Drives" for a number of years. Do Dell make a Brambleweeny57 sub-meson brain yet? Ah, appeal to ridicule to make up for the act you can't do maths  As I have posted before, it isn't all that hard to sum up total claims amounts for people with indicator A and total claims for indicator B and divide by the number of claims in each category. And split by year of claim for the previous 10 years. If the result of A is consistently larger than B for every year....what do you suggest we do ? Ignore it as an anomaly ? Doesn't matter what A is, age/sex/claims/payment method, if one is always higher than the other then we can make some predictions about the future. Fairly simple.
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Noger
6,779 posts
118 months
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Mr2Mike said: I suspect the point is that the insurance companies super secret database of statistics allegedly show that people that can't afford to pay vast sums of money in one lump are more likely to make a claim. The same kind of twisted stats that suggest if someone hits your car and you claim off their insurance, then you are more likely to have a claim made against your own insurance.
It seems to me that the technology in The Hitchhikers Guide To The Galaxy is no longer fiction; insurance companies have been successfully operating "Somebody Elses Problem" (SEP) field generators and "Infinite Improbability Drives" for a number of years. Do Dell make a Brambleweeny57 sub-meson brain yet? Ah, appeal to ridicule to make up for the act you can't do maths As I have posted before, it isn't all that hard to sum up total claims amounts for people with indicator A and total claims for indicator B and divide by the number of claims in each category. And split by year of claim for the previous 10 years. If the result of A is consistently larger than B for every year....what do you suggest we do ? Ignore it as an anomaly ? Doesn't matter what A is, age/sex/claims/payment method, if one is always higher than the other then we can make some predictions about the future. Fairly simple.
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Noger
6,779 posts
118 months
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Mr2Mike said: Really? If a young man has to pay several thousand pounds for a small hatchback (as most do), what sort of lifestyle does that suggest? A scrounging doley up to his armpits in debt? Yup. What we really want to do is put the data through a Credit Scoring system, and rate you on that (at least one naughty insurer leaves a credit footprint when they really should just be doing some KYC checking). But we can't. I asked in 2009, and was told not. So the best we can do is use the rather blunt instrument of payment method.
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otherman
1,068 posts
34 months
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Johnnytheboy said: Burning Rubber said: is affordable insurance, some kind of right? No, but good grammar should be, (  ) some kind of duty. Goodness me, I, do believe, you, could be ! right.
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HBFS
667 posts
60 months
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Noger said: No. For example Admiral offers discount for paying Annualy, which it then removes if you pay via DD.
It ends up looking like a credit charge, but it is a lot more than that.
Paying insurance monthly is a lifestyle indicator. I've used their on-line quoting tool and spoken with them on the phone tonight. There is no discount for paying annually. Annual pricing is first presented and therefore standard, paying monthly incurs ADDITIONAL charges/ interest.  Just like the rest of them...  For those interested the above quotes use exactly the same information as they where both generated through the same comparison website.
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14-7
5,706 posts
60 months
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wizzbilly said: As said just tell them 12 caravan site and screw the plod
Its the greedy fookers who make it unaceptable to pay and be a decent law abiding citizen .#
i work 60hrs a week and struggle to pay my insurance and morgage even on 30k a year its a pss take There is one saying I will always remember and that is if you lie you need to remember what the lie was. You tend to find liars can't remember all the lies they tell and therefore are easily caught out. Although don't you worry, I'm sure you will just blame dyslexia  . wizzbilly said: i work 60hrs a week and struggle to pay my insurance and morgage even on 30k a year its a pss take So you earn 30k a year, so 2.5k before taxes per month, yet in another thread you posted you only earn £550-600 a month.  wizzbilly said: Enough thanks i earn the avreage wage and on avreage £550-600 per month So which one is it? Do you earn 30k a year or £550-600 a month? The calculations aren't hard so work it out. It doesn't take a genius to see that somewhere you are making it up. As for the excuse on dyslexia what a load of s  t. The problem arises when someone like yourself is labelled with it then uses it as an excuse. You can learn to deal with it it just means you have to work a bit harded at things. I should know as I am dyslexic as well. I won't even go near the fact you posted you are a driver and do 500k a day. Actually I will just for your amusement. 500k a day (we'll work in miles seeing as though we are in the UK) means that you cover 20833 miles per hour over the 24 hour period. Not bad going but I think you'd have received a speeding ticket by now. Unless of course your cunning ways have managed to avoid prosecution and all police vehicles whilst going about your business. If we assume that you actually sleep for 8 hours the figures are even better. 31250 miles every hour you manage to travel. Or have I got the wrong end of the stick and do you also include the rotational speed of the earth in your daily mileage? It's an interesting proposition....... I will have to be light hearted and quote Black Adder now to say that you are as cunning as a fox who's just been appointed Professor of Cunning at Oxford University.
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Noger
6,779 posts
118 months
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HBFS said: I've used their on-line quoting tool and spoken with them on the phone tonight. That looks like Churchill. The OP said "Apparently, as I want to pay monthly, I lose out on the discount price offer "... Which sounds like Admiral's DISCOUNT (you get the price via Aggregator, that gives you the annual, then if you want to pay monthly you call up and you get a hike). See what I did there, actually read the post
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Mr2Mike
9,448 posts
124 months
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Noger said: Ah, appeal to ridicule to make up for the act you can't do maths As I have posted before, it isn't all that hard to sum up total claims amounts for people with indicator A and total claims for indicator B and divide by the number of claims in each category. And split by year of claim for the previous 10 years. If the result of A is consistently larger than B for every year....what do you suggest we do ? What I suggest you do is recognise that correlation and causation are different things and learn to use statistics properly.
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Noger
6,779 posts
118 months
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Mr2Mike said: What I suggest you do is recognise that correlation and causation are different things and learn to use statistics properly. Of course they aren't. But we are not trying to show causation. Most people accept that women have cheaper car insuance than men, but who knows what CAUSES this. If you flip a coin 100 times and it comes up heads each time you may have been very very lucky. But you also may have a dodgy coin. We don't need causation to allow for price segmentation. If we did, then everyone would pay the same price. Given a large enough sample, we can predict future events pretty well ( law of large numbers) ... Obviously what we can't do is predict individual events. Don't blame me, blame the Institue of Actuaries
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R1 Indy
991 posts
52 months
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They are not charging extra to pay monthly
It is called interest. Although at a rather high Apr. because they will lend to pretty much anyone.
Would you expect your bank to lend to you with no interest???
Besides of you can't afford £650 outright perhaps you can't afford to drive?
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Donatello
Original Poster
1,034 posts
30 months
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R1 Indy said: Besides of you can't afford £650 outright perhaps you can't afford to drive? That makes no sense. At all. Have you not read the posts where I have stated, we just bought a house and would rather keep the money incase something like our boiler packed in.
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