Chimaera insurance renewals

[ribol]

Anyone wondering why your Chimaera insurance premiums are going up, ask a Tuscan driver!
Had an interesting discussion with my insurance brokers (Sunninghill) and I asked them why they no longer include breakdown cover, effectively increasing their premiums? Short answer, reason for an increase in the premiums - too many claims. Some interesting statistics came up in the conversation that followed, more than half the cars on their books are Chims. The rest of the cars on their books in the TVR scheme obviously being all other TVRs ever made.

Fact - Tuscan drivers have made more claims than all the Chim drivers and all other TVR drivers put together.

To Tuscan drivers

Ivan

[ribol]

ATG said: (sorry ... I claimed recently ... large)

£9k, peanuts to a Tuscan driver, they do more damage than that just filling up.

Seriously though, I know how the insurance/motor trade side of things works and it does not quite work as you imagine. Insurance companies do not have to justify why they charge what they do to anyone so it is not in their interest to allow the cost of repairs to escalate. When it gets to the point that the premiums get daft it kills the cars and then they have to drop the premiums again.

Ivan

[ribol]

ATG said: well I may be falling into the conspiracy theory trap, but there must be some explanation why insurance companies seem happy to pay throught the nose for repairs. All I'm saying is that if they are all equally bad at controlling this cost, then it doesn't do them any harm.

I am no great fan of insurance companies, I think they are all crooks. However, let me assure you they are no mugs when it comes to parting with their money. The way some insurance assessors act you would think the money is coming out of their pockets.