Insurance cancelled after 1 week
Discussion
No, I don't particularly wish to be subject to an insurance company's opinions of what constitutes "good" driving.
My query was more about the logic of aiming to serve the high risk market rather than "good" drivers. I've given a couple of my own idle thoughts on the matter, but it'd be interesting to know the reality.
My query was more about the logic of aiming to serve the high risk market rather than "good" drivers. I've given a couple of my own idle thoughts on the matter, but it'd be interesting to know the reality.
InitialDave said:
No, I don't particularly wish to be subject to an insurance company's opinions of what constitutes "good" driving.
My query was more about the logic of aiming to serve the high risk market rather than "good" drivers. I've given a couple of my own idle thoughts on the matter, but it'd be interesting to know the reality.
I answered that in the middle paragraphMy query was more about the logic of aiming to serve the high risk market rather than "good" drivers. I've given a couple of my own idle thoughts on the matter, but it'd be interesting to know the reality.
Economics of installation and increased value of any improvement in underwriting profit.
Edit. What if I wasn't an insurance company - would you use one then?
Edited by anonymous-user on Thursday 19th July 10:32
catso said:
Another good reason to never accept black box insurance.
No it's not.catso said:
I always find it amusing when I (old fart) do a comparison for car insurance and at the bottom of the list are the black box policies with premiums of £1 - £2k, when the cheapest non black box policy is under £300... 
If you find that amusing, you're very easily pleased. You aren't their target market. What's funny about that.
desolate said:
answered that in the middle paragraph
Economics of installation and increased value of any improvement in underwriting profit.
No, I'm not asking why black box cover costs more. I'm asking why choose to serve the market for which it's their best/only option, given the entire issue is they're a high risk.Economics of installation and increased value of any improvement in underwriting profit.
My opinion is that they believe the black box allows them to manage the "controllable" risk (and also boot people who are trouble, before they can become a claim statistic/cost), while having a smaller pool of customers limits the "uncontrollable", s
t happens kind of risk.InitialDave said:
No, om not asking why black box vover costs more. I'm asking why choose to serve the market for which it's their best/only option, given the entire issue is they're a high risk.
My opinion is that they believe the black box allows them to manage the "controllable" risk (and also boot people who are trouble, before they can become a claim statistic/cost), while having a smaller pool of customers limits the "uncontrollable", st happens kind of risk.
They need a high risk premium to cover the extra costsMy opinion is that they believe the black box allows them to manage the "controllable" risk (and also boot people who are trouble, before they can become a claim statistic/cost), while having a smaller pool of customers limits the "uncontrollable", s
t happens kind of risk.At 300 quid they can't afford to install the device.
desolate said:
catso said:
Another good reason to never accept black box insurance.
I always find it amusing when I (old fart) do a comparison for car insurance and at the bottom of the list are the black box policies with premiums of £1 - £2k, when the cheapest non black box policy is under £300...
There is a cost associated with installing the box so they only really work on the higher premiums.I always find it amusing when I (old fart) do a comparison for car insurance and at the bottom of the list are the black box policies with premiums of £1 - £2k, when the cheapest non black box policy is under £300...
If I was to give you a free black box - would you use it?
Punter: I hate insurance. They just lump me in with others of a similar age/vehicle/ risk profile. They don't look at me as in individual.
Insurance Industry: Black box policy available. Enables us to monitor you as an individual, not part of some homogenous group.
Punter: You can bloody stick that you bunch of crooks. I don't want you spying on me.
Insurance Industry: Black box policy available. Enables us to monitor you as an individual, not part of some homogenous group.
Punter: You can bloody stick that you bunch of crooks. I don't want you spying on me.
I’ve not logged in to the telematics app.
My daughter sent me a screenshot which shows a snail trail of green, amber and red but she says she doesn’t know by how much she was speeding for it go red.
I realise this was probably a carefully-selected sample, of course. And that there would have been a key on screen. Partial picture presented to me!
Next challenge is to find somewhere off-road for her car to be SORN whilst she saves for the next insurance policy.
My daughter sent me a screenshot which shows a snail trail of green, amber and red but she says she doesn’t know by how much she was speeding for it go red.
I realise this was probably a carefully-selected sample, of course. And that there would have been a key on screen. Partial picture presented to me!
Next challenge is to find somewhere off-road for her car to be SORN whilst she saves for the next insurance policy.
HarveyM said:
She’s cancelled with immediate effect, and therefore has hopefully dodged the permanent stain on her insurance risk.
I hope this has caused her sufficient stress, anxiety and cost to land the message about the responsibility required to drive.
Thanks for the advice.
We’ll now need to dig further on the detail of her driving and any communications from the insurer.
Don't forget the Continuous Insurance requirements, especially if the car's parked on the road.I hope this has caused her sufficient stress, anxiety and cost to land the message about the responsibility required to drive.
Thanks for the advice.
We’ll now need to dig further on the detail of her driving and any communications from the insurer.
https://www.mib.org.uk/reducing-uninsured-driving/...
Mammasaid said:
Don't forget the Continuous Insurance requirements, especially if the car's parked on the road.
https://www.mib.org.uk/reducing-uninsured-driving/...
Indeed. The car will be SORN once she’s cleared the garage out (today’s fun chore for her). https://www.mib.org.uk/reducing-uninsured-driving/...
HarveyM said:
Mammasaid said:
Don't forget the Continuous Insurance requirements, especially if the car's parked on the road.
https://www.mib.org.uk/reducing-uninsured-driving/...
Indeed. The car will be SORN once she’s cleared the garage out (today’s fun chore for her). https://www.mib.org.uk/reducing-uninsured-driving/...
desolate said:
That is a common answer.
Why not?
And do you mind vehicle manufacturers using your data (including telematics)?
I am not trying to be intrusive or confrontational, I am genuinely interested
Its an interesting question. I'm an old fart so pay peanuts for insurance, and no mention for a black box or other electronics.Why not?
And do you mind vehicle manufacturers using your data (including telematics)?
I am not trying to be intrusive or confrontational, I am genuinely interested
I'd not have a black box through choice. If I choose to break the speed limit I'll do it carefully and in a considered way - overtaking for example. I know I risk getting caught, and happily accept that risk. I'd prefer to leave road policing to the Police rather than an insurance company algorithm.
I don't really care about the telematics, they aren't going to send me a NIP or cancel my insurance, and the data might be useful if there is an issue with the car or similar.
desolate said:
SonicShadow said:
Absolutely not.
That is a common answer.Why not?
And do you mind vehicle manufacturers using your data (including telematics)?
I am not trying to be intrusive or confrontational, I am genuinely interested
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