Another insurance renewal W.T.F

[jimxms]

Insurance renewal time for me this morning, so went to the usual websites, put in all my usual details and the fact that I had a non-fault accident that cost my insurance company £60. Quote = £580

Changed the 'non-fault' to 'fault' to see how much of a favor I'd done myself by fighting to the death against a '50/50' claim. Quote = £520!!!

Changed the claim amount from £60 to £600. Quote = £510

WTF! Why on earth should it be cheaper for someone with a high-cost fault claim than a low-cost non-fault claim??? I just don't get it

[jdearden]

If a small c,aim of 60 quid was made then your more likely to claim on insurance for a small ding like in a car park. If its a bigger one then the chances of having 2 large claimed is less than lots of small ones.

It's mad but its true.

[kambites]

Even the insurers wont necessarily understand why the smaller claim means a higher risk; it's just what they're statistical analysis tells them.

jdearden may well be right, though.

[jimxms]

jdearden said:

If a small c,aim of 60 quid was made then your more likely to claim on insurance for a small ding like in a car park. If its a bigger one then the chances of having 2 large claimed is less than lots of small ones.

It's mad but its true.

Thing is, the accident damage amounted to thousands. But as It was eventually ruled non-fault, the 3rd party paid my insurer back and when I got my proof of NCB through it said "Non-fault accident, cost £60". So I just assumed that this was non-recoverable admin fees? Maybe I should just put that it was non-fault and £0?

Edited by jimxms on Tuesday 30th October 11:51

[McSam]

Can we please have a "General Insurance Questions and Comments" sticky, rather than six of these every day where the OPs even acknowledge it's "yet another one"?!

[croyde]

Because someone crashed into my parked car, outside my house, in the snow a couple of years back I am now a greater risk even though I dealt with the matter myself at no cost to my insurance company and I have not made a claim in 15+ years, probably a lot longer. In fact I remember now that I claimed for a stolen motorbike back in 1988.

Because it's law but the companies are not regulated, they can do what they want.

[anonymous-user]

cheaper on road than garage

135m bmw is cheaper to insure than corsa 1.2 design

you do the maths....

[Ki3r]

The Spruce goose said:

cheaper on road than garage

135m bmw is cheaper to insure than corsa 1.2 design

you do the maths....

Less people have claimed in a 135m than the Corsa...not that hard really.

[anonymous-user]

Ki3r said:

Less people have claimed in a 135m than the Corsa...not that hard really.

is the insurance really that simple?, it is a group 19 (old) of think, claims are just part f the allegorithm.