dojj

iTrader: (3)

cheapest payment made?

96p

most expensive quote?

£94,475.00 on a fiesta

zetec-Sam

iTrader: (2)

What the fuck are you on about Dojj?

Spoony.

it was tv earlyer,about different insurance quotes about the cheapest ever done and the most expensive.....that 96k quote i would of rang up and seen if they would of actualy gone through with it,then told them to ram it up there stinker

mrjenrst

It doesnt take a rocket scientist to work it out!

Roosie

iTrader: (8)

and it talked about the massive profit the insurance company make ie Admiral was up again by 23% last year but they still decide to put premiums up by 24% as they say the weather is getting worse in England

dojj

iTrader: (3)

That sort of got me pissed off, they put the prices up AFTER they announced a profit by MORE than their profits were. Or have I got the wrong end of the stick and they have had to put their prices up beause they wernt making as mch profit as they wanted to ?

Markb_s1

Do you knwo any business that makes as much profit as it wants to?

massivewangers

iTrader: (1)

I wish I'd seen this now. It's about time this got some coverage really.

My insurance has gone up massively this year, think it's disgraceful. The insurance industry needs to be put under some serious scrutiny; they're fucking people over left, right and centre, especially younger drivers. I've been driving 9 years in Feb, and when I got my first car at 18, I could get insurance for under £1k, but now to insure that same car would cost about £3k or something ridiculous. There is just no justification to that at all, nor to the stupendous rate rises of the last 12 months that seem to be effecting everyone.

I find it pretty disgusting that the government and FSA are happy to ignore such blatant profiteering.

mrjenrst

what's the FSA got to do with it?

massivewangers

iTrader: (1)

The FSA are supposed to regulate the insurance industry are they not?

Dal_

iTrader: (2)

That's not the most expensive quote, the one I had for a 125 motorbike was (just) higher at £94505.

ZetecNology

Cheap enough for a 125!!!

dojj

iTrader: (3)

That's a mighty jump between premiums isn't it

mrjenrst

Yeah but what they were saying on watchdog was about premiums rising! End of the day too many just people just claim for nothing and that money has to come from somewhere. The fsa cant really do a lot about that as its across the board.

massivewangers

iTrader: (1)

People are being far too hasty to make a personal injury claim these days, which is undoubtedly a problem, but the policyholder is fully entitled to claim for any damage at all to their car, that's what the policy is there for after all.

But it's pretty clear that something is amiss if companies are claiming that rates need to increase to cover increased claim expenditure, whilst still posting rising profits. If they'd made fuck all profit at the end of the last financial year, then I could see it, but I certainly don't remember seeing any of them in that situation, so the extreme rate rises of the last 12 months are totally unjustified.

I'm 26 years old, living in a decent area. I've held my licence for getting on for nine years, have 7 years NCD and yet I'm still getting quotes on a group 13 car that are higher than the actual value of the vehicle. Prices that are higher than quotes I had for a Saph Cosworth two years ago, when I was under 25 and had less NCD. I've just sold a Vectra CDTI (group 11) that I'd been using as a runabout, and I was shopping around for quotes on other things, and with the same company, they actually quoted slightly LESS to insure an EG Civic VTI as to insure the Vectra. So that's a group 16-odd car, with 160bhp, easy as fuck to steal, desirable to thieves, with loads of saleable parts, being cheaper to insure than an anonymous rep-mobile, with 120bhp, five groups lower, worth about the same amount, with CAT 1 security as standard. Something is clearly amiss in my eyes.

The problem is, it's a legal requirement, so insurance companies have people over a barrel. They keep ramping costs up and up, and it just gets ignored by the powers that be.