Car Insurance!!!!!

[Tony Baloney]

What's the so called reasons given for massive increase this year?

Inflation and climate change.

[quit yo jibbajabba]

Cost of repairs (suppose that's the inflation part)

Be interesting to check the profits of some these countries if we weren't too busy trying to make money to you know, keep existing

Edit - companies

[93-DY-SAM]

Cost of repairs (suppose that's the inflation part)

Be interesting to check the profits of some these countries if we weren't too busy trying to make money to you know, keep existing

Edit - companies

That's the sick joke about all of this. They claim operating expenses etc are up hence the need for price hikes but many of these companies are posting record profits. Same with energy and oil companies. Funny that! Fair enough businesses need to make a profit but this is price gouging plain and simple. The worst part of this is they are acclimatising everyone into thinking this is normal. If you get 100 quid of your insurance next year you'll think you are getting a good deal but that'll be into the second year of you paying way more than early 2023.

[Milltown Row2]

Surely there is an opportunity for a company to come in and undercut these feckers!!

A good slogan like.. We'll undercut any quote.com

If you were saving £50 off your your renewal quote you'd be gone in a shot..

[armaghniac]

Yet car insurance in the 26 counties has come down, so that it is now cheaper than in the North. I am only paying 60% of what I was before Covid.

It is easy to say that these companies must be making money, but the state of driving is shocking, the least scratch costs thousands to repair and if someone if seriously injured than a million might be needed to compensate them. Thankfully, serious injuries are not so common, but scratches are.

[AustinPowers]

Few people are   driving  old motors these days. They're all in  big jeeps as far  as I can see. Big expensive foreign  motors,  with expensive parts . That's bound to raise premiums

Gone are the days  where you could fix everything with  a wrench , nowadays it's  all computers  diagnosis

[tbrick18]

Few people are   driving  old motors these days. They're all in  big jeeps as far  as I can see. Big expensive foreign  motors,  with expensive parts . That's bound to raise premiums

Gone are the days  where you could fix everything with  a wrench , nowadays it's  all computers  diagnosis

Its not just the big expensive cars that are like this, the traditionally "cheaper" cars like a ford fiesta are also like this. There are no cheap to buy cars now.
But at the same time, what percentage of insurance policies make a claim in a year? I can't see it being above 10%.
So 90% of all premiums collected to pay for claims made by 10% of all those insured. Has to be an absolute fortune in profit regardless of pay-outs.
Government really needs to step in here and put some manners in these insurers. Otherwise what will happen is that there will be more and more people driving without insurance as they simply cannot afford it.
And for those people who are involved in accidents, they will claim to the absolute max as they know their insurance will be daylight robbery in the years to come so best get as much off them now as possible.

[armaghniac]

Few people are   driving  old motors these days. They're all in  big jeeps as far  as I can see. Big expensive foreign  motors,  with expensive parts . That's bound to raise premiums

Gone are the days  where you could fix everything with  a wrench , nowadays it's  all computers  diagnosis

Its not just the big expensive cars that are like this, the traditionally "cheaper" cars like a ford fiesta are also like this. There are no cheap to buy cars now.
But at the same time, what percentage of insurance policies make a claim in a year? I can't see it being above 10%.
So 90% of all premiums collected to pay for claims made by 10% of all those insured. Has to be an absolute fortune in profit regardless of pay-outs.
Government really needs to step in here and put some manners in these insurers. Otherwise what will happen is that there will be more and more people driving without insurance as they simply cannot afford it.
And for those people who are involved in accidents, they will claim to the absolute max as they know their insurance will be daylight robbery in the years to come so best get as much off them now as possible.

Your post does not make sense. If 10% of policies have a claim and the claim is 10 times the cost of the policy then the company is making no profit at all. People will claim the absolute max in any case and the claimants may not be those paying the policies. 

[AustinPowers]

On the issue of dash cams,  isn't  your insurance cheaper if you have one fitted ?

And if so, why aren't  prices coming down I general? As that would  cut down on  bogus claims

[Puckoon]

I know he's a ballix and all but wouldn't this price hike be the kind of thing the biggest little c**t in the country would like to get his teeth into?

[tbrick18]

Few people are   driving  old motors these days. They're all in  big jeeps as far  as I can see. Big expensive foreign  motors,  with expensive parts . That's bound to raise premiums

Gone are the days  where you could fix everything with  a wrench , nowadays it's  all computers  diagnosis

Its not just the big expensive cars that are like this, the traditionally "cheaper" cars like a ford fiesta are also like this. There are no cheap to buy cars now.
But at the same time, what percentage of insurance policies make a claim in a year? I can't see it being above 10%.
So 90% of all premiums collected to pay for claims made by 10% of all those insured. Has to be an absolute fortune in profit regardless of pay-outs.
Government really needs to step in here and put some manners in these insurers. Otherwise what will happen is that there will be more and more people driving without insurance as they simply cannot afford it.
And for those people who are involved in accidents, they will claim to the absolute max as they know their insurance will be daylight robbery in the years to come so best get as much off them now as possible.

Your post does not make sense. If 10% of policies have a claim and the claim is 10 times the cost of the policy then the company is making no profit at all. People will claim the absolute max in any case and the claimants may not be those paying the policies. 

They won't make profit off the 10% of policies who claim, but they have 100% profit of the other 90%.

[Itchy]

I know he's a ballix and all but wouldn't this price hike be the kind of thing the biggest little c**t in the country would like to get his teeth into?

Bono? Conor McGregor? Who are you talking about as there is stiff competition for that title

[Armagh18]

I know he's a ballix and all but wouldn't this price hike be the kind of thing the biggest little c**t in the country would like to get his teeth into?

Bono? Conor McGregor? Who are you talking about as there is stiff competition for that title

Seamie Bryson?

[armaghniac]

Few people are   driving  old motors these days. They're all in  big jeeps as far  as I can see. Big expensive foreign  motors,  with expensive parts . That's bound to raise premiums

Gone are the days  where you could fix everything with  a wrench , nowadays it's  all computers  diagnosis

Its not just the big expensive cars that are like this, the traditionally "cheaper" cars like a ford fiesta are also like this. There are no cheap to buy cars now.
But at the same time, what percentage of insurance policies make a claim in a year? I can't see it being above 10%.
So 90% of all premiums collected to pay for claims made by 10% of all those insured. Has to be an absolute fortune in profit regardless of pay-outs.
Government really needs to step in here and put some manners in these insurers. Otherwise what will happen is that there will be more and more people driving without insurance as they simply cannot afford it.
And for those people who are involved in accidents, they will claim to the absolute max as they know their insurance will be daylight robbery in the years to come so best get as much off them now as possible.

Your post does not make sense. If 10% of policies have a claim and the claim is 10 times the cost of the policy then the company is making no profit at all. People will claim the absolute max in any case and the claimants may not be those paying the policies. 

They won't make profit off the 10% of policies who claim, but they have 100% profit of the other 90%.

Of course they do, otherwise they would go bust.

[Wildweasel74]

Where's Quinn Insurance when you need them? OK, too early for low digs?!