Insurance prices like Whaaat?

[eldar]

TwigtheWonderkid said:

I used to have a customer who made polypropylene testicles, to be inserted if you had to have one or both out, just to give a more natural look/feel. Only available on private healthcare, £200 each, or 3 for £500.

These, though, are the mutt's nuts...

https://en.wikipedia.org/wiki/Neuticles

[VGTICE]

TwigtheWonderkid said:

You clearly don't get average, mean, median, mode etc.

I admire this guy's drive not to give up. And the fact that he doesn't understand the difference between opinion and facts.

TwigtheWonderkid said:

Millions of people do pay sub £250. Over 40, boring 1.4 hatch, not living in a city centre, max bonus, clean record.

For example here. How do you know that? The data is not available to anyone as you said it yourself so how can you know exactly (especially if you're not in the industry as you said above) how many pay how much and what drives the prices other than the usual bullste that is included in an average dailymail article? We need facts not your opinion aka unheducated guess.

[TwigtheWonderkid]

popeyewhite said:

TwigtheWonderkid said:

You clearly don't get average, mean, median, mode etc.

Actually I understand statistics far better than you. You don't have a clue what median and mode are, quite apart from the fact they don't relate to the discussion in any way. 'Average ' and 'mean' are the same thing btw. It's no use suggesting outliers are capable of generating an average £462 even with a data spread lower than £200. The spread will be concentrated around the £300-£700 mark. You're welcome to show your figures, but as you've plucked them from the ether it's unlikely that's going to happen.

Explain it to me. Lots of people pay much more than the £462 average. Every teenager for a start. They will be paying £1000 or more over the £462 average. Then you've got people living in city centres. You've got people on reduced ncb. People in their 20s/30s with nice cars. Loads of people paying way more than £462.

But even if your insurance costs £100, that's only £362 less than the average. So how do we get to an average of £462? How can that be achieved. Give or take, for every person paying £1050, approx £600 above the average, you need 3 people paying £250, approx £200 below the average, to get your £462 average.

So tell me how it works. How do we end up with an average of £462 without millions of people paying sub £250?

[VGTICE]

TwigtheWonderkid said:

Then you've got people living in city centres. You've got people on reduced ncb. People in their 20s/30s with nice cars.

I moved from central London to suburban London my premium went up.
I went through different cars between my 20s/30s from small 0.9 petrol through some diesels to big V8's, brand new, nearly new, 3-5 year old, 7-10, 15 nice, not so nice, sometimes jumping from one spectrum to another during one year - there was no sense in how premiums moved other than you'll pay what we say kind of BS. And Sir, how much do you estimate your car to be worth? We'll use that to calculate your premium but we'll pay you what we think it's worth.
Accruing my NCBs each year didn't mean st either.


So again how do you exactly know what drives the prices and how.

[eldar]

VGTICE said:

I moved from central London to suburban London my premium went up.
I went through different cars between my 20s/30s from small 0.9 petrol through some diesels to big V8's, brand new, nearly new, 3-5 year old, 7-10, 15 nice, not so nice, sometimes jumping from one spectrum to another during one year - there was no sense in how premiums moved other than you'll pay what we say kind of BS. And Sir, how much do you estimate your car to be worth? We'll use that to calculate your premium but we'll pay you what we think it's worth.
Accruing my NCBs each year didn't mean st either.


So again how do you exactly know what drives the prices and how.

Ask an actuary. Strange, clever people who work out when you will die, crash or cause a claim. Or, of course, Google,

[VGTICE]

eldar said:

Ask an actuary. Strange, clever people who work out when you will die, crash or cause a claim. Or, of course, Google,

Are you suggesting I should ask my insurer to give me a breakdown of how they calculate my risk profile? I think we both know what the answer is going to be, right?

[eldar]

VGTICE said:

Are you suggesting I should ask my insurer to give me a breakdown of how they calculate my risk profile? I think we both know what the answer is going to be, right?

You are probably right about asking insurance companies.Google tells all you need to know in astounding detail, so that should be your next call.

[TwigtheWonderkid]

popeyewhite said:

TwigtheWonderkid said:

Millions of people in this country pay sub £250, many sub £200, for comp insurance.

Either an outright lie or just internet belligerence, do you fabricate facts like this when not in your internet persona? Which demographic pays this?

FYI the average cost of car insurance last year was £462 (Willis Towers Watson, OFT guideline research). The average insurance price increase for 2016 was 16%.

Are you going to answer my question? After accusing me of lying or belligerence. Given many people pay much much more than £462, many hundreds or in some cases thousands more, how do we arrive at and average premium of £462 unless millions of people are paying sub £250?

Given that one person paying £750 more than £462 needs 3 people paying £250 less.

[VGTICE]

TwigtheWonderkid said:

Are you going to answer my question?

And are you going to answer my question shillboay?

[VGTICE]

eldar said:

You are probably right about asking insurance companies.Google tells all you need to know in astounding detail, so that should be your next call.

Can you provide one link where I can read up on that astounding detail.

[eldar]

VGTICE said:

Can you provide one link where I can read up on that astounding detail.

https://www.google.co.uk

HTH.

[VGTICE]

eldar said:

VGTICE said:

Can you provide one link where I can read up on that astounding detail.

https://www.google.co.uk

HTH.

I thought you would do that. My gawd you so smaht.

[Jiebo]

ANJ91 said:

I believe that those comparison price sites store your information and they only work well for the first time you do it as they apply some kind of new customer discount.

When you check to renew, they already have your details therefore they do not apply a new customer discount and make the price of the results go up significantly.

To test it out, try to run a quote again but change some details slightly. For example, try changing your date of birth by 1 day either way, use your next door neighbour address and maybe change your first name.

I have done this and the quotes were much cheaper. Then I had to call them and give them the quote and tell them that I have made a mistake and inputted my date of birth wrong by 1 day and ask them to update it. They will and the price might go up but then question them why does it matter if you were born 1 day later, how does it guarantee a £300 increase. They should change the details and match whatever quote you got.

Good luck.

Edited by ANJ91 on Sunday 9th April 00:03

This wouldn't work, because they check your credit file. If you use the comparison sites and then check noodle, it will show they have looked up your credit file.

I agree that everytime you do a check your premiums go up. Especially if you change details, such as where the car will be kept, and your home address. I wish I had data to support this, because it's a scam and I don't think they should be allowed to do it.

[eldar]

VGTICE said:

I thought you would do that. My gawd you so smaht.

Thanks. Did you find your answers?

[TwigtheWonderkid]

eldar said:

VGTICE said:

I thought you would do that. My gawd you so smaht.

Thanks. Did you find your answers?

He's not looking to learn anything new, just to have what he already thinks confirmed by like minded sheople.

[l354uge]

Jiebo said:

This wouldn't work, because they check your credit file. If you use the comparison sites and then check noodle, it will show they have looked up your credit file.

I agree that everytime you do a check your premiums go up. Especially if you change details, such as where the car will be kept, and your home address. I wish I had data to support this, because it's a scam and I don't think they should be allowed to do it.

Looking at insurance reviews, Esure will cancel your policy after two weeks if they see you've used a number of different addresses on your comparison quotes. So I've gone from being able to insure two cars for £600 to now needing £1200 for doing it on admiral. ARGH

[wack]

popeyewhite said:

Either an outright lie or just internet belligerence, do you fabricate facts like this when not in your internet persona? Which demographic pays this?

FYI the average cost of car insurance last year was £462 (Willis Towers Watson, OFT guideline research). The average insurance price increase for 2016 was 16%.

Tis true, last year on a standard Mx5 I paid £252 with Hastings , I changed the car for a modified MX5 which they couldn't quote on so got It through Adrian flux for £311 both fully comp

[VGTICE]

eldar said:

VGTICE said:

I thought you would do that. My gawd you so smaht.

Thanks. Did you find your answers?

I did yes, I'm totally blown away.

[jimmybell]

Tried searching for another quote on a comparison site under another name? I find once you've searched once or twice, especially for renewal of an existing car - some insurers, particularly the existing insurer (or group of... looking at you Admiral et al) will either quote crazy prices or eventually stop quoting at all.

Repeat the exact search with another name, or possibly a different house number/DOB etc, you'll get more sensible quotes again (albeit this year it seems things have gone up quite significantly even after the above trick is employed)

[anonymous-user]

jimmybell said:

Tried searching for another quote on a comparison site under another name? I find once you've searched once or twice, especially for renewal of an existing car - some insurers, particularly the existing insurer (or group of... looking at you Admiral et al) will either quote crazy prices or eventually stop quoting at all.

Repeat the exact search with another name, or possibly a different house number/DOB etc, you'll get more sensible quotes again (albeit this year it seems things have gone up quite significantly even after the above trick is employed)

By using incorrect details you will severely restrict your options.
Most companies use a credit scoring of some sort to adjust the rates.