Getting tired of the effort it takes to save money......

[srw]

had empirical data that the risk of loss, damage, or injury was lower than my previous address

No you didn't.

And the rest of your post is arrant and prejudiced nonsense. If I wasn't on a phone and could be bothered to educate you I could explain, but I suspect you wouldn't listen.

 

[mjr]

The insurers were right, you misunderstood the risk and successfully negotiated a better deal.

If insurance company A deliberately overcharges risk group X it will be undercut by company B that doesn't. It's called a market.

Specifically, it's called a market for lemons. The sellers have access to much more information on the market than the buyers. AFAICT, there's no way to independently verify whose hypothesis of @Drago's renewal experience is correct.

 

[Markymark]

I moved two streets away and my premium went up. When it was done and dusted (I managed to get it roughly the same) I pretended to move back again and my premium was again to go up.

It's more about being ripped off by insurance companies who are charging what they think they can get away with....though I dare say they'll argue the rates have changed due to risk changes during all the times I requested the quotes

 

[screenman]

I think most businesses bill them till they hollar then back it down a dollar.

 

[Milkfloat]

I had empirical data that the risk of loss, damage, or injury was lower than my previous address. I wasn't insured for any thing else, and all the criteria they regard as risk were reduced.

Where is the misunderstanding? Please, feel free to expand upon the misunderstanding. The consumer experts at the BBC couldn't identify the misunderstanding, and neither can I. Risk provably reduces, numbers to prove it, yet prices rise - no latitude for misunderstanding there.

Did you factor in small changes such as distance from Fire/police Station or proximity to natural hazards such a rivers? In addition did you have access to the companies other customers data to see if they were spreading their risk geographically? An insurance company certainly would not insure every car in town when a big hailstorm hits.

 

[byegad]

The insurers were right, you misunderstood the risk and successfully negotiated a better deal.

If insurance company A deliberately overcharges risk group X it will be undercut by company B that doesn't. It's called a market.

And when they 'share' their data it's called a Cartel!

 

[srw]

And when they 'share' their data it's called a Cartel!

Which is why they don't.

 

[Drago]

Did you factor in small changes such as distance from Fire/police Station or proximity to natural hazards such a rivers? In addition did you have access to the companies other customers data to see if they were spreading their risk geographically? An insurance company certainly would not insure every car in town when a big hailstorm hits.

Closer to both, as it goes. Not insured for acts of God anyway. The risk they were claiming did not correspond to the actual geographical risk as reported to the dibble.

 

[byegad]

Which is why they don't.

I strongly suspect that they do! They share your given details of any application you make, I suspect that it goes much further.

 

[srw]

I strongly suspect that they do! They share your given details of any application you make, I suspect that it goes much further.

It doesn't. Data protection and competition law doesn't allow it. Fines are enormous, and prison sentences are possible.

There is limited sharing of aggregate statistical data, and the amount and granularity of data involved has shrunk over the last 20-odd years as the law has tightened. There is a central database of claims made to help prevent fraud and contribute to the understanding of risk. There is a database of people involved in insurance fraud. There's a database of employer's liability policies (but it doesn't include premiums). And that's just about it (although I'm sure some clever-clogs will be along to point out something I've forgotten).

It is not true that details of applications are shared, and if you have any evidence of it happening I suggest you contact the police - it's illegal.

 

[byegad]

But every time you make an application for insurance, they tell you they will share the data you give. So making it impossible to tell the first company you apply to that you were banned for 12 months,then 'forgetting' to tell the second.

 

[FishFright]

But every time you make an application for insurance, they tell you they will share the data you give. So making it impossible to tell the first company you apply to that you were banned for 12 months,then 'forgetting' to tell the second.

I think by 'share the data' I think they mean selling your details to marketing companies.

 

[I like Skol]

My 2yrs of energy peace is coming to an end and it is time to do the rounds again

I've done pretty well over the last two years and looks like I have been prudent and actually reduced energy usage slightly since the fixed price plan was started.

Current best deal available to me is 12 month fixed with Avro for £1590. Avro have been in the headlines for not towing the line on smart meters, which makes them even more attractive, and better still don't have an active installation program, so I shouldn't be continually pestered to fit the wretched things.

Has anyone got and opinions of Avro, good or bad?

 

[SpokeyDokey]

My 2yrs of energy peace is coming to an end and it is time to do the rounds again

I've done pretty well over the last two years and looks like I have been prudent and actually reduced energy usage slightly since the fixed price plan was started.

Current best deal available to me is 12 month fixed with Avro for £1590. Avro have been in the headlines for not towing the line on smart meters, which makes them even more attractive, and better still don't have an active installation program, so I shouldn't be continually pestered to fit the wretched things.

Has anyone got and opinions of Avro, good or bad?

I remember this thread from when I was much younger.

Good luck going back around the hamster wheel.

 

[fossyant]

Good luck. Our energy use rocketed after Mrs F got her hot tub...just getting the usage under reliable monitoring now after a couple of years with it. Will be changing after this deal goes, and won't be going smart.