I'll never figure out how insurance companies operate.

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Since all we have to go by is the information they allow us to have, one could argue that naive people believe insurance companies.

Their books are open, anyone can see them online, and if you like you can write to them and ask to see their regulatory returns. Seriously, if it's such easy money start underwriting motor policies yourself.
 
OP
OP
vernon

vernon

Harder than Ronnie Pickering
Location
Meanwood, Leeds
I take it you didn't point out the error of their ways and accepted the lower premium, right?

The broker pointed out to me that the premium had dropped once he'd reduced the excess. No subterfuge needed.
 

Spoked Wheels

Legendary Member
Location
Bournemouth
Their books are open, anyone can see them online, and if you like you can write to them and ask to see their regulatory returns. Seriously, if it's such easy money start underwriting motor policies yourself.

I will see if I can find that information as soon as I can.

Why would I want to start a business that goes totally against my principles? Money doesn't drive me at all. Luckily, I've made enough to live a comfortable life and I do my best to try to help those less fortunate.
 

400bhp

Guru
I will see if I can find that information as soon as I can.

Why would I want to start a business that goes totally against my principles? Money doesn't drive me at all. Luckily, I've made enough to live a comfortable life and I do my best to try to help those less fortunate.

Define how an insurance company goes totally against your principles.
 

400bhp

Guru
As opposed to providing a public good and sharing the risk between a cohort of people that could not otherwise succesfully mitigate the risk themselves.

More said.
 

screenman

Squire
My quote came through yesterday, £215.83 for a VW Passat 2.0 diesel, value about £7,000. That is fully comp, bonus protected, legal expenses, business use and second driver the company is LV. I call that very good value for the peace of mind it gives.
 
I will see if I can find that information as soon as I can.

Why would I want to start a business that goes totally against my principles? Money doesn't drive me at all. Luckily, I've made enough to live a comfortable life and I do my best to try to help those less fortunate.

You're gonna be busy, what with scouring insurance ledgers and polishing your gold house.
 

Spoked Wheels

Legendary Member
Location
Bournemouth
Something that I just remember.

My son is due to renew his car insurance in the next couple of weeks so I said to him last night, don't forget to include in your policy ( we swap cars sometimes) and he said.... too expensive, you had an accident!!!! I said, what are you talking about? Somebody hit me from behind when I was parked and I was sitting in the passenger seat reading a newspaper!!!!! But you made a claim, right? I said "of course I did, but not my insurance" and he said "all the same, my insurance company wants an extra £140 to keep you in the policy" :ohmy:

The company should punish the person that caused the incident but not me at all, I just accepted
the other party insurance company to fix my car.

Furthermore, my insurance company wants 10% more money because I made an insurance claim. I explained the circumstances and they said "even if you were not in the car" you made an insurance claim, it doesn't matter if it was with another company. That is robbery.

In other words, insurances companies get money from people that cause an accident and those who are on the receiving end. Nice little business they have there.

EDIT:
An that is not all, my record will show a claim for 5 years and they will collect the extra cash for it too.
 
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OP
OP
vernon

vernon

Harder than Ronnie Pickering
Location
Meanwood, Leeds
Something that I just remember.

My son is due to renew (...)

EDIT:
An that is not all, my record will show a claim for 5 years and they will collect the extra cash for it too.

You could purge yourself of all the insurance related angst by giving up your car.

Just saying...
 

400bhp

Guru
Something that I just remember.

My son is due to renew his car insurance in the next couple of weeks so I said to him last night, don't forget to include in your policy ( we swap cars sometimes) and he said.... too expensive, you had an accident!!!! I said, what are you talking about? Somebody hit me from behind when I was parked and I was sitting in the passenger seat reading a newspaper!!!!! But you made a claim, right? I said "of course I did, but not my insurance" and he said "all the same, my insurance company wants an extra £140 to keep you in the policy" :ohmy:

The company should punish the person that caused the incident but not me at all, I just accepted
the other party insurance company to fix my car.

Furthermore, my insurance company wants 10% more money because I made an insurance claim. I explained the circumstances and they said "even if you were not in the car" you made an insurance claim, it doesn't matter if it was with another company. That is robbery.

In other words, insurances companies get money from people that cause an accident and those who are on the receiving end. Nice little business they have there.

EDIT:
An that is not all, my record will show a claim for 5 years and they will collect the extra cash for it too.

You don't really have a clue do you.
 
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