Insurance, black art... or con, you decide

[entwisi]

so, 41 YO chap, married, 2 kids, own own house etc 1 SP30 from 2 years ago

Which is cheaper to insure

05 Honda Accord Diesel estate

97 Lotus Elise


of course its the Elise, how bloody stupid would it be for a full on sports car to be more expensive than a 140bhp family estate car......

Oh and for completeness, its jumped from 350 quid last year to 600 quid this year....

[Soovy]

Elise - statistically likely to be owned by competent enthusiast drivers who care for their cars.

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash


It's neither. It's a science.

Edited by Soovy on Tuesday 4th January 13:55

[kambites]

I don't see the problem. The insurance companies do a large amount of statistical analysis and come to the conclusion that the saloon is higher risk. What's wrong with that?

[hondafanatic]

Soovy said:

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash

Pffft I resent that remark. I've never used my Honda's as a minicab.

[Animal]

hondafanatic said:

Soovy said:

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash

Pffft I resent that remark. I've never used my Honda's as a minicab.

Do you have a steering wheel cover? Beaded seat cover?

[-Z-]

True, it's all to do with historical risk as assessed by the ins co's.

Looking at base figures is not relevant, eg whats easier to crash:

a 400bhp RWD coupe that runs on pretty narrow tyres with non-existant TC

or

a 4WD saloon with 300bhp and computer controlled yaw-control etc

Logically you would say the Coupe, but when you find out the Saloon is a Mitsubishi Evo then it becomes clear why it costs >2x the cost of the coupe to insure.

[ChasMill]

kambites said:

I don't see the problem. The insurance companies do a large amount of statistical analysis and come to the conclusion that the saloon is higher risk. What's wrong with that?

Or:

Lotus: Lovingly cared for, garaged and only driven a few thousand miles a year at weekends when it isn't raining. Wife not allowed near the driver's seat.

Honda: Family mule, driven all year in all weather conditions, frequently with screaming kids being fed crisps to keep them quiet by a distracted, exhausted mum.

Which would you insure, given the choice?

[entwisi]

Mileage was the same for both.

daft bit for me is I also have 2x 1000cc motorcycles which are insured for ~100 quid a year each, I've had no accidents/claims in > 20 years of riding but they dont even ask about bikes or any of that . I also no "fault" accidents in the car in the same period ( 1 600 quid no fault claim 2 years ago when a young lad side swiped my old volvo), just how big a risk am I statistically......

There is of course the upside that I can tell the missus that in these times of economical madness I'm selling the bus and buying a sports car and we will have to use her Company Derv estate if we go out as a family...

BTW, just quoted an MX5 and its 140 quid cheaper than the Honda!

[Cotty]

Good excuse to get a Lotus

[Greg_D]

entwisi said:

Mileage was the same for both.

daft bit for me is I also have 2x 1000cc motorcycles which are insured for ~100 quid a year each, I've had no accidents/claims in > 20 years of riding but they dont even ask about bikes or any of that . I also no "fault" accidents in the car in the same period ( 1 600 quid no fault claim 2 years ago when a young lad side swiped my old volvo), just how big a risk am I statistically......

There is of course the upside that I can tell the missus that in these times of economical madness I'm selling the bus and buying a sports car and we will have to use her Company Derv estate if we go out as a family...

BTW, just quoted an MX5 and its 140 quid cheaper than the Honda!

what part of statistical probability aren't you grasping.

If the mx5 is cheaper, it is because, statistically, they are less subject to claims

Actuarial tables are god in that industry, there is no guesswork in insurance.

Greg

[zcacogp]

Animal said:

hondafanatic said:

Soovy said:

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash

Pffft I resent that remark. I've never used my Honda's as a minicab.

Do you have a steering wheel cover? Beaded seat cover?

CD dangling from the rear view mirror? 'High-class, gold-effect, premium-style' tissue box cover on the parcel shelf?


Oli.

[Soovy]

Greg_D said:

what part of statistical probability aren't you grasping.

This.

Statistics show that a Lotus is a low risk. Therefore it's cheaper to insure.

Simple.

[hondafanatic]

Animal said:

hondafanatic said:

Soovy said:

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash

Pffft I resent that remark. I've never used my Honda's as a minicab.

Do you have a steering wheel cover? Beaded seat cover?

Only on the FD2.

Although I had to get a solid gold gilded box of tissues to get them to stay put in the S2000 with the roof down. Gold plastic wasn't heavy enough.

[Larry Dickman]

A jump from £350 to £600, go somewhere else.

[cuprabob]

Honda is a higher risk as it will start when someone tries to steal it.

Edited by cuprabob on Tuesday 4th January 14:29

[ZOLLAR]

Soovy said:

Elise - statistically likely to be owned by competent enthusiast drivers who care for their cars.

Honda - satistically likely to be owned by incompetent minicab drivers with a poor grasp of road signs and a propensity to crash


It's neither. It's a science.

This ^^^^

Also The honda "family" car is likely to have children in it far more often meaning there is a possibility of higher injury claims.

[GKP]

cuprabob said:

Honda is a higher risk as it will start when someone tries to steal it.

But this risk is cancelled out (and then some) by the fact that no one will want to steal it.

[entwisi]

For Sale: Honda Accord disel estate.... contact disgruntled of Lancashire....

seriously, SWMBO has a comapny estate that will cover the "Family needs", I see an MX5 or classic car on the cards.... Sod being sensible its too expensive!



And yes I do "get" the statistical side of stuff, its just doesn't add up common sense wise when a sports car is cheaper than an ordinary motor.

[kambites]

Get a VX220 quote, they're even cheaper than the Elise.

[cuprabob]

GKP said:

cuprabob said:

Honda is a higher risk as it will start when someone tries to steal it.

But this risk is cancelled out (and then some) by the fact that no one will want to steal it.

Good point