Insurance

[RaksP]

if it is the LAW to have insurance on a car, surely the car insurance company's should be a NON-PROFIT organisation? this would surely decrease premiums encouraging more people to get fully legit insurance policies?

[TPS]

Yeah ok.So surely you should go to work every day and make no profit,only the right amount of money to cover your petrol to get home and your bills.

Edited by TPS on Friday 10th August 11:47

[RaksP]

TPS said:

Yeah ok.So surely you should go to work every day and make no profit,only the right amount of money to cover your petrol to get home and your bills.

Edited by TPS on Friday 10th August 11:47

haha the employees would still get paid! its just the company who would make no profit. there are a lot of organistations like this which already exsist!

[sultanbrown]

A lot of car insurers don't make a profit, it's a loss-leader, apparantly.
I know NU make a profit from car insurance, but only since the late '90s.

Pissed on your fire, didn't it?

[Noger]

But it isn't law that you have a car.

[TPS]

RaksP said:

TPS said:

Yeah ok.So surely you should go to work every day and make no profit,only the right amount of money to cover your petrol to get home and your bills.

Edited by TPS on Friday 10th August 11:47

haha the employees would still get paid! its just the company who would make no profit. there are a lot of organistations like this which already exsist!

What companys exsist that run like this.Im not saying there is not but id like to know of companys that run and survive on no profit what so ever.

As an insurance company they have all their overheads to pay for.Then they have to pay out for claims that could vary from lets say £500 to £500.000 .So how do you suppose they work out how much to charge.

[Rob_J]

RaksP said:

TPS said:

Yeah ok.So surely you should go to work every day and make no profit,only the right amount of money to cover your petrol to get home and your bills.

Edited by TPS on Friday 10th August 11:47

haha the employees would still get paid! its just the company who would make no profit. there are a lot of organistations like this which already exsist!

Pure genius

So who's gonna provide this service then? A charity? The government? If you really think it would be any cheaper think you need your head examined. There are enough providers out there for any reasonable risk person to find a decent quote. Put it in the hands of a non-profit organisation & the costs double & service go through the floor, after all if there are no profits a stake who the hell gives a damn about customer service. Just look at the standard of service & value for money of our great non-profit organisation know as the government.

Edited by Rob_J on Friday 10th August 15:23