Someone crashed into my car today
Discussion
LoonR1 said:
When we have a claim notified we put the money to one side for want of a better description. We have to do this to ensure we can meet all out liabilities. So we have to plan and forecast well in advance.
Right, yes I realise that sorry (I'm knackered this morning due to having to be up unusually early, plus I'm not a morning person anyway). One way of dealing with it could be to take an average of the amount that policies go up by due to a non-fault and add that money to the reserve. If there is no subsequent change to the policy, that money will then go towards balancing-out the cases where there is.LoonR1 said:
A further question. If I can now recover the increase in premium from the other side, what's to stop me loading the premium by a £billion? It's a nice income stream for me.
Until another insurer does it to you! 
TwigtheWonderkid said:
As LoonR1 explained. You hit a tp. Your fault. Your insurer settle his claim, but as this is his 1st non fault claim, there is no extra to pay on his own insurance. So your insurer think the claim is settled. 18 months later, he has another non fault claim, and now his premium is affected, as his insurer charge extra for 2 non fault claims. So he comes back to you/your insurer 18 months after the event for your contribution. How would your insurer budget for this??? How do their actuaries work out the funding of ongoing possible liabilities?
Averages via the system that calculates premiums, as above. Actually I would like to know what difference, if any, the two non-faults we (myself and my fiancée) make to our insurance. - Her car was reversed into in a petrol station, my last one had a luton van fall on it!robdcfc said:
Higher cost of repairs??
Do you know how much most repair shops are screwed down to by insurers for labour?
Not always new parts either but the insurers require new oem/pattern as they give a guarantee for the work, you can have a "contract repair" with used parts if it saves a write off but no matter what that beetle in the photo is dead!
I have a feeling you've not actually had to deal with this sort of thing, the difference is I have.Do you know how much most repair shops are screwed down to by insurers for labour?
Not always new parts either but the insurers require new oem/pattern as they give a guarantee for the work, you can have a "contract repair" with used parts if it saves a write off but no matter what that beetle in the photo is dead!
Repair shops crewed down? that's a good one, I must remember to write that down and file under F for fantasy.
Bronze said:
robdcfc said:
Higher cost of repairs??
Do you know how much most repair shops are screwed down to by insurers for labour?
Not always new parts either but the insurers require new oem/pattern as they give a guarantee for the work, you can have a "contract repair" with used parts if it saves a write off but no matter what that beetle in the photo is dead!
I have a feeling you've not actually had to deal with this sort of thing, the difference is I have.Do you know how much most repair shops are screwed down to by insurers for labour?
Not always new parts either but the insurers require new oem/pattern as they give a guarantee for the work, you can have a "contract repair" with used parts if it saves a write off but no matter what that beetle in the photo is dead!
Repair shops crewed down? that's a good one, I must remember to write that down and file under F for fantasy.
Most of the bigger shops that have contracts with insurers will be getting around £22-25 per hour for repairs plus the insurance will want a mandatory 10% discount on parts.
£25 doesnt go a long way when you have to pay all the overheads from that and you dont even get 10% from alot of the parts distributors now either.
For instance Just car clinics average profit is circa £30 per job add in a rework and they have lost probably a couple of hundred quid on it.
So yes I know nothing about it at all thanks
robdcfc said:
For instance Just car clinics average profit is circa £30 per job add in a rework and they have lost probably a couple of hundred quid on it.
So yes I know nothing about it at all thanks
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.So yes I know nothing about it at all thanks
Leptons said:
robdcfc said:
For instance Just car clinics average profit is circa £30 per job add in a rework and they have lost probably a couple of hundred quid on it.
So yes I know nothing about it at all thanks
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.So yes I know nothing about it at all thanks
I have just booked in an insurance job for next week as I tend to do mainly retail and the kind assessor has given me £30 per hour!
They may be loaded as you put it but whos to know thats from mending cars??
[quote=Leptons]
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.
[/quote
Could not agree more there. Most body shop owners seem to drive something fun and don't seem short of a bob or two. As for the big accident repair specialists we won't even go there, but they clearly charge more than £30 per hour for labour.
The guy who sprayed up the front of my car a little while ago has a couple of cars, apart from his late model Astra work hack estate to his pristine R33. So clearly, he must be on the breadline.
Robfgfhgdfff, oh that's excellent, might aswell post up the name of your outfit then, bit of free advertising never does any harm.
I never realised your average body shop loses potentially hundreds of pounds per job, are most of them registered as charitable organisations then? how splendid. We must arrange a VBRA sponsored fund raiser.
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.
[/quote
Could not agree more there. Most body shop owners seem to drive something fun and don't seem short of a bob or two. As for the big accident repair specialists we won't even go there, but they clearly charge more than £30 per hour for labour.
The guy who sprayed up the front of my car a little while ago has a couple of cars, apart from his late model Astra work hack estate to his pristine R33. So clearly, he must be on the breadline.
Robfgfhgdfff, oh that's excellent, might aswell post up the name of your outfit then, bit of free advertising never does any harm.
I never realised your average body shop loses potentially hundreds of pounds per job, are most of them registered as charitable organisations then? how splendid. We must arrange a VBRA sponsored fund raiser.
Edited by Bronze on Monday 13th January 16:19
Bronze said:
Leptons said:
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.
[/quote
Could not agree more there. Most body shop owners seem to drive something fun and don't seem short of a bob or two. As for the big accident repair specialists we won't even go there, but they clearly charge more than £30 per hour for labour.
The guy who sprayed up the front of my car a little while ago has a couple of cars, apart from his late model Astra work hack estate to his pristine R33. So clearly, he must be on the breadline.
Robfgfhgdfff, oh that's excellent, might aswell post up the name of your outfit then, bit of free advertising never does any harm.
I never realised your average body shop loses potentially hundreds of pounds per job, are most of them registered as charitable organisations then? how splendid. We must arrange a VBRA sponsored fund raiser.
And?[/quote
Could not agree more there. Most body shop owners seem to drive something fun and don't seem short of a bob or two. As for the big accident repair specialists we won't even go there, but they clearly charge more than £30 per hour for labour.
The guy who sprayed up the front of my car a little while ago has a couple of cars, apart from his late model Astra work hack estate to his pristine R33. So clearly, he must be on the breadline.
Robfgfhgdfff, oh that's excellent, might aswell post up the name of your outfit then, bit of free advertising never does any harm.
I never realised your average body shop loses potentially hundreds of pounds per job, are most of them registered as charitable organisations then? how splendid. We must arrange a VBRA sponsored fund raiser.
Edited by Bronze on Monday 13th January 16:19
A R33 is what 10-12k max thats not exactly out of the realms of normality is it?
Astra say 8-10k put through the business at say £200 pm for the finance not exactly luxurious is it?
The reason we can have FUN cars as you put it is we can buy a heap of junk and sort it ourselves for not alot of cost in terms of materials when compared to buying a mint example.
I didnt say hundreds per job, I said the potential is there due to constraints from the insurance companies.
But you obviously know more than someone thats in the trade day in day out.
Leptons said:
robdcfc said:
For instance Just car clinics average profit is circa £30 per job add in a rework and they have lost probably a couple of hundred quid on it.
So yes I know nothing about it at all thanks
BS. I don't believe that for a second. I know a couple of guys who own an insurance approved body shop and they are, for want of better term 'Loaded'.So yes I know nothing about it at all thanks
I charge £30.00 per hour and that will have to go up, my overheads are not too bad, i aint loaded but i do make a decent living from the trade.
Oh and i am reluctant to do Ins work, i prefer the passing trade and recommendation work.
swisstoni said:
LoonR1 said:
swisstoni said:
What I find difficult is that you cannot see what has been recorded in the insurance industry database(s) about you. Therefore you actually don't always know what to say when asked about your history.
This leaves you open to an insurer saying that you failed to fully disclose your history when you applied. This potentially gives them a way out of paying in the event of a claim.
Yes you can hereThis leaves you open to an insurer saying that you failed to fully disclose your history when you applied. This potentially gives them a way out of paying in the event of a claim.
http://www.insurancedatabases.co.uk/media/2893/dat...
That took 20 seconds to find via google
I'm pleased to report that it was indeed a straightforward procedure and the report arrived in about 2 weeks.
It confirmed an outside suspicion I had about an entry that may have been made about me a couple of years ago. My car was accidentally scratched in a car park by an acquaintance. Depending on how much it cost to fix it may have had to be an insurance claim, or, we would sort it out between us.
Whilst I was getting a few quotes, I VERY STUPIDLY thought I'd play by the book and tell my insurer the situation just in case there was to be a claim. I very clearly said that I didn't want to raise any paperwork, I just wanted to let them know as per the terms of the insurance.
As it happens, the cost of the repair wasn't that much and I settled with the acquaintance and thought that was it.
It turns out that the insurance company entered this as a no-fault, zero cost incident!
So, technically I have been mis- informing all subsequent insurers !
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