Insurance

[DuffleKing]

On the back of the "Extortion" thread, I thought I woulkd ask a question I have always wondered about.

Is it actually legal to compel people to purchase insurance on, for example, motor vehicles. Has this ever been challenged?

The "must do" aspect of insurance is a huge bonus to an industry already mired in monopolies and questionable practice.

[JoG2]

I enjoy the fact that speeding penalty points stay on your record for 4 years, but insurance companies keep them on their records for 5 years.. Nice wee additional earner for them

[Franko]

Have always believed that car insurance should be nationalised and any profits redeployed to fund road upgrades

I get all the arguments about lazy civil servants etc etc

But ask yourself - would it be possible for anyone to deliver a worse service than car insurance companies?

And at least with my model there may be SOME pressure on them to act honourably

Rather that the thieving bastards they currently are

[screenexile]

Have always believed that car insurance should be nationalised and any profits redeployed to fund road upgrades

I get all the arguments about lazy civil servants etc etc

But ask yourself - would it be possible for anyone to deliver a worse service than car insurance companies?

And at least with my model there may be SOME pressure on them to act honourably

Rather that the thieving bastards they currently are

Would claims soar though??

[trueblue1234]

On the back of the "Extortion" thread, I thought I woulkd ask a question I have always wondered about.

Is it actually legal to compel people to purchase insurance on, for example, motor vehicles. Has this ever been challenged?

The "must do" aspect of insurance is a huge bonus to an industry already mired in monopolies and questionable practice.

But how would you manage none fault accidents without it? Imagine getting a new car and it's hit by someone with no insurance and can't afford the cost of repairs/ replacement. The system isn't perfect but there needs to be a system.

[DuffleKing]

I'm not sure there does... if someone doesn't take out insurance then they are personally liable if a claim comes?

They need to produce either the settlement amount or what is arrived at by a court or face the consequences?

[trueblue1234]

I'm not sure there does... if someone doesn't take out insurance then they are personally liable if a claim comes?

They need to produce either the settlement amount or what is arrived at by a court or face the consequences?

That would mean a court case for each claim instead being managed by the insurance companies. Solicitors would be rubbing their hands and would be the only winners. Not to mention the delays in settling claims. Plus what if the person who hit you couldnt  afford the repairs. The none fault driver would still shoulder the costs. It's just not workable. At least now there is the MIB that covers uninsured drivers. It's funded from insurance companies. No insurance companies, mean no MIB.
And that's before you look at injuries. You get paralysed with a potential claim that could be easily 6 figures. How to you start chasing that?

[Jell 0 Biafra]

I enjoy the fact that speeding penalty points stay on your record for 4 years, but insurance companies keep them on their records for 5 years.. Nice wee additional earner for them

Don't speed and you'll be grand.

[Olly]

Does anyone know if it's possible yo insure your own vegetables against the frost?

[David McKeown]

I enjoy the fact that speeding penalty points stay on your record for 4 years, but insurance companies keep them on their records for 5 years.. Nice wee additional earner for them

In Northern Ireland penalty points will appear on your licence for 4 years if imposed at the roadside or 5 years if imposed at court.  In either scenario they will only count for 3 years from date of incident.

[JoG2]

I enjoy the fact that speeding penalty points stay on your record for 4 years, but insurance companies keep them on their records for 5 years.. Nice wee additional earner for them

In Northern Ireland penalty points will appear on your licence for 4 years if imposed at the roadside or 5 years if imposed at court.  In either scenario they will only count for 3 years from date of incident.

Thanks David

[Saffrongael]

No claims bonus seems to mean nothing now too when renewing

[armaghniac]

In British Colombia and I think New Zealand the government runs third party insurance, although you can still buy Comprehensive etc from someone else.

[Jim Bob]

No claims bonus seems to mean nothing now too when renewing

How bad is it? Premiums up by what percent roughly from last year ??

[STREET FIGHTER]

My car insurance has been steady enough....a bit of an increase this year...

It's the house insurance that's killing me....

Nearly double from last year....

Apparently too many claims in the North and insurance companies pulling out leaving less options and nearly zero competition...