Insurance companies riping us off? It ends now.
Discussion
I'm mad as hell, and I'm not going to take it any more.
Over the past six months I have been an unlucky sod. Not once, but twice has someone crashed into my pride and joy (a 996 3.4 coupe) while it was parked. In both cases, their insurance paid to get the damage repaired. I was without my beloved wheels for a month at a time and missed a couple of chances for entertaining country road drives, but otherwise this didn't cost me anything. Until it was time to renew my car insurance.
Being the diligent, law-abiding person that I am, I informed my insurance company (Admiral - but it really doesn't matter, they're all the same) of the accidents and was shocked to find out that my premium had increased by £360. That's almost a 50% increase. Through absolutely no fault of my own.
When I started complaining like a pissed off Ari Gold they knocked £100 off that and after shopping around and getting no better quotes I swallowed it whole and paid up. I then asked them if, as I am obliged to do after a few years driving in the UK, I exchange my EU drivers license, which I have held for over 14 years, for a UK one, this will help reduce my premiums.
I was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down. Now, I've paid for a year's insurance and this won't be an issue for a while, but I'm dreading my next renewal.
It doesn't end there. I was a Streetcar member and drove thousands of miles in their cars with no claims before buying this car. I have a letter confirming this from them, but the insurance companies won't accept it as proof of NCB. Nor will they accept the letter from my foreign insurer from before I moved to the UK, because it's been more than a year since that policy ended (a year during which I was with Streetcar).
This is ridiculous. I'm 32 years old, have had a license since I was 18, haven't made a claim on my insurance in well over 12 years and haven't had an accident of any kind in which I was at fault in over 9 years (and, though not relevant to this discussion, no motoring convictions whatsoever in the past 5 years) yet I'm being treated like an accident-prone newbie that just got his license and bled dry. Basically, by being as safe and responsible a driver as I was last year, I'm going to be charged well over a thousand pounds extra for insurance.
It doesn't matter who you call. They all take the same information and put it through the same system and they just get the same quote popping out the other end. I even called Adrian Flux to take advantage of the PH discount but despite their claims to be able to treat you as a person and not a bunch of numbers, it's the same as everyone else. They're all underwritten by Lloyd's anyway. This is a monopoly supporting a cartel with a government mandate that all drivers pay them for protection. This is the problem. If this was a free market then someone would start a company that offered you a price by listening to your particular situation, not feeding numbers into an algorithm they had no control over.
Something is rotten in the state of... well, actually, I'm sure people in Denmark don't have to put up with this blatant fleecing.
Now, I'm not a UK citizen so writing my MP might not get much attention, but I will be in touch with consumer direct, the FSA, the OFT and anyone else who might hear my plight. But first I'd like to ask fellow PHers to share their insurance horror stories and see if we can possibly band together to get some sensible regulation of an industry that is bleeding us dry while pretending they're offering us a great deal. Right now I feel like grabbing a meerkat and locking it in a cage with Iggy Pop, but there are more civilised - and effective - ways to fight back. Please, if you have stories of insurance companies treating you like a bunch of numbers and bleeding you dry for obscene premiums, post them here. If you're interested in helping out by writing letters and spreading the word, let me know.
This ends here.
Over the past six months I have been an unlucky sod. Not once, but twice has someone crashed into my pride and joy (a 996 3.4 coupe) while it was parked. In both cases, their insurance paid to get the damage repaired. I was without my beloved wheels for a month at a time and missed a couple of chances for entertaining country road drives, but otherwise this didn't cost me anything. Until it was time to renew my car insurance.
Being the diligent, law-abiding person that I am, I informed my insurance company (Admiral - but it really doesn't matter, they're all the same) of the accidents and was shocked to find out that my premium had increased by £360. That's almost a 50% increase. Through absolutely no fault of my own.
When I started complaining like a pissed off Ari Gold they knocked £100 off that and after shopping around and getting no better quotes I swallowed it whole and paid up. I then asked them if, as I am obliged to do after a few years driving in the UK, I exchange my EU drivers license, which I have held for over 14 years, for a UK one, this will help reduce my premiums.
I was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down. Now, I've paid for a year's insurance and this won't be an issue for a while, but I'm dreading my next renewal.
It doesn't end there. I was a Streetcar member and drove thousands of miles in their cars with no claims before buying this car. I have a letter confirming this from them, but the insurance companies won't accept it as proof of NCB. Nor will they accept the letter from my foreign insurer from before I moved to the UK, because it's been more than a year since that policy ended (a year during which I was with Streetcar).
This is ridiculous. I'm 32 years old, have had a license since I was 18, haven't made a claim on my insurance in well over 12 years and haven't had an accident of any kind in which I was at fault in over 9 years (and, though not relevant to this discussion, no motoring convictions whatsoever in the past 5 years) yet I'm being treated like an accident-prone newbie that just got his license and bled dry. Basically, by being as safe and responsible a driver as I was last year, I'm going to be charged well over a thousand pounds extra for insurance.
It doesn't matter who you call. They all take the same information and put it through the same system and they just get the same quote popping out the other end. I even called Adrian Flux to take advantage of the PH discount but despite their claims to be able to treat you as a person and not a bunch of numbers, it's the same as everyone else. They're all underwritten by Lloyd's anyway. This is a monopoly supporting a cartel with a government mandate that all drivers pay them for protection. This is the problem. If this was a free market then someone would start a company that offered you a price by listening to your particular situation, not feeding numbers into an algorithm they had no control over.
Something is rotten in the state of... well, actually, I'm sure people in Denmark don't have to put up with this blatant fleecing.
Now, I'm not a UK citizen so writing my MP might not get much attention, but I will be in touch with consumer direct, the FSA, the OFT and anyone else who might hear my plight. But first I'd like to ask fellow PHers to share their insurance horror stories and see if we can possibly band together to get some sensible regulation of an industry that is bleeding us dry while pretending they're offering us a great deal. Right now I feel like grabbing a meerkat and locking it in a cage with Iggy Pop, but there are more civilised - and effective - ways to fight back. Please, if you have stories of insurance companies treating you like a bunch of numbers and bleeding you dry for obscene premiums, post them here. If you're interested in helping out by writing letters and spreading the word, let me know.
This ends here.
As much as I admire your sentiments I fear it will fall on deaf ears. I had 2 non fault accidents, both settled by the other party and my insurance went up despite my insurer issuing a no claims bonus.
When I argued I was told the increase was because of my claims, I was annoyed by this because telling me they put it up because of a claim at the same time as issuing a 'No claims bonus' was a contradiction. I asked to speak to the people who make these stupid decisions based on statistics (both my accidents were totally different in circumstance so couldn't really be linked to my driving either) but apparently that isn't allowed.
Basically insurance companies know we need it, so they force the law abiding to pay the penalty for scummy gangs that run cash for crash scams and to top up the pot for recovering losses when equally scummy uninsured theives crash.
When I argued I was told the increase was because of my claims, I was annoyed by this because telling me they put it up because of a claim at the same time as issuing a 'No claims bonus' was a contradiction. I asked to speak to the people who make these stupid decisions based on statistics (both my accidents were totally different in circumstance so couldn't really be linked to my driving either) but apparently that isn't allowed.
Basically insurance companies know we need it, so they force the law abiding to pay the penalty for scummy gangs that run cash for crash scams and to top up the pot for recovering losses when equally scummy uninsured theives crash.
zirzirikos said:
Now, I'm not a UK citizen so writing my MP might not get much attention, but I will be in touch with consumer direct, the FSA, the OFT and anyone else who might hear my plight.
None of them will be interested.It's all our own fault anyway, 98% of the population look at price first . . . what's the cheapest I can get this for . . . regardless of product quality. Do we buy cheese like this ? Well, a chav might but I don't. I don't buy coffee like that, or restaurant food, or cars, or holidays or even hotels. My first priority is never price . . . price is a consideration in making a judgement about the value of the product to me but the vast majority of the population seem unable to do that and look simply at the price.
So they get what they deserve.
ps Not including you in this, you may or may not be like that - I don't know, but you've been caught up in it because you probably didn't know how bad things had become.
zirzirikos said:
I then asked them if, as I am obliged to do after a few years driving in the UK, I exchange my EU drivers license, which I have held for over 14 years, for a UK one, this will help reduce my premiums.
I thought you only had one year?And what did you tell them about your current licence? Do they know it's a foreign one? When I've bought insurance the question has always been "How long have you held a full UK licence?"
My understanding is that Insurance companies make a loss on car insurance. Are you proposing those governing bodies apply pressure to force them to make a greater loss. That should be interesting.
Perhaps you need to address you anger towards no-win-no-fee solicitors and accident management companies - they're the ones forcing prices up.
Perhaps you need to address you anger towards no-win-no-fee solicitors and accident management companies - they're the ones forcing prices up.
zirzirikos said:
I then asked them if, as I am obliged to do after a few years driving in the UK, I exchange my EU drivers license, which I have held for over 14 years, for a UK one, this will help reduce my premiums.
I was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down.
Id call billy bullsI was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down.
t on that. NCB is based on how many years you have not claimed, not how long you have your licence for. 
julian64 said:
Question.
I have a car that I park in my back garden over 100m from any road. Should I be charged the same as someone who parks their car next to, or on, the road at night?
You'll be charged more than someone who parks on-street in all likelihood. I was charged 70 pounds more when I moved from an unsafe street parking location in a city to a rural safe spot with off street parking.I have a car that I park in my back garden over 100m from any road. Should I be charged the same as someone who parks their car next to, or on, the road at night?
zirzirikos said:
I then asked them if, as I am obliged to do after a few years driving in the UK, I exchange my EU drivers license, which I have held for over 14 years, for a UK one, this will help reduce my premiums.
I was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down.
If you really do end up paying new driver rates for your Porsche, then my condolences! Just as a guide, I'm also 32, and really am a new driver (had a license for nearly a year now). My insurance a year ago for my e46 BMW 325i was £1400, so I suspect your premiums will be increasing somewhat.I was shocked to hear that because I will be getting a new license, I will now be considered a new license holder who's had a license for a zero months instead of 14 years, and as a result my premiums are going to go up, not down.
Edited by aizvara on Friday 28th January 13:55
C2james said:
Insurance is a joke, my insurance gets renewed next month and it will be £1850 for my 1.1 citroen, I'm 18 with my first years NCB, I know this is a lot cheaper than a lot of people my age but still, £1850 for a 1.1!
Wow, my first car was a 1.2l Corsa and paid around £850 for my first year, but i did learn to drive at 25. When i renew my insurance fully for my 2.0T 250 Cup with 2 years NCB, it'll be £1014, which i didn't think was too bad, with my mum and girlfriend on there, it drops to £814.Gassing Station | General Gassing | Top of Page | What's New | My Stuff