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Is there any logic to car insurance premiums?

Discussion in 'The Lounge' started by Bazarchie, Sep 7, 2017.

  1. AGW

    AGW Well-Known Member

    I think it's metaphor for the maths they use to milk us. At least that's why it says in the book.

    Graeme
     
  2. Roger Hicks

    Roger Hicks Well-Known Member

    Not obvious at all. Consider it parsed into the following statements: "I don't buy fast-depreciating new cars, and I don't insure them comprehensively."

    Yes, I could have phrased it like that. But the alternative -- buying a fast-depreciating new car, and then not insuring it comprehensively -- is as Brian said such a silly idea that no rational person would consider it. Unless they were very rich indeed: I had one friend who carried her own insurance.

    Now, you may decide that I am that silly. On the other hand, from external evidence (other posts) I'd not have any great doubt about our relative ability to think things through.

    Cheers,

    R.
     
  3. Roger Hicks

    Roger Hicks Well-Known Member

    Dear Brian,

    You are the one who should stop and think. Consider the possibility that what I would not do is buy a new and fast-depreciating vehicle, at which point, obviously I am not going to insure it comprehensively. But your mind set (and apparently that of some others) is that everyone (presumably) buys new and fast-depreciating vehicles, and must therefore insure them comprehensively.

    As I say, I wouldn't do that.

    Cheers,

    R.
     
  4. Brian

    Brian Venerable Elder

    Well well well. Interesting.

    Why is car insurance in France so expensive (compared to the UK)? BS

    This is quite a subjective question to answer as, of course, it depends on where you lived in the UK compared to France as well as your use of the car. There are three main differences in French insurance that could explain a difference in price if you are experiencing this feeling.
    * The maximum No Claims Bonus in France is 50% whereas I commonly see between 65% and 75% reductions in the UK
    * In France the insurance is on the car; so once insured anyone with a valid licence may drive your car unless specifically excluded (this usually means liable to a higher excess rather than complete exclusion.

    I see the average ranges from 650€ in Vendee up to 1200€ in Paris.
     
    Last edited: Sep 9, 2017
  5. Brian

    Brian Venerable Elder

    " Goodbye"

    No, we need the good guys.

    I had this individual on ignore for years. Then relented...........that didn't last.
     
  6. Bazarchie

    Bazarchie Well-Known Member

    It is sad that this thread has turned into another spat. It seems no subject is safe.

    However, thanks for all the responses. I spent a few hours today getting alternative quotes and already have reduced the premium by 50%. It was the automatic renewal and the fact they did not notify me of the renewal premium that really annoyed me. Fortunately there is a 14 day cooling-off period.
     
    LesleySM likes this.
  7. Blurred Image

    Blurred Image Active Member

    I'm new to this forum. Do many threads descend into arguments about what ppl said? I am planning on getting into photography again and signed up to the forum on the back of the reviews in the main site. If I am likely to face dodging online spats often please let me know.

    At the risk of accusations of adding fuel to the fire I would say that I read the comment as not getting comprehensive insurance on a certain class of car (quickly depreciating value cars). I take that as meaning getting third party on cars straight out of the showroom new or nearly new because AFAIK they depreciate the fastest.

    Personally I've always opted for comprehensive because I've rarely had a car worth less than the excess. If repair costs less than excess I'll pay for it if more I'll claim. If the cars is a write off the payout after excess is more than third party payout of nothing but excess to be paid. At least that's what my understanding of third party versus comprehensive means.

    The lowest value car I've owned was £97 in scrap value. I got the dreaded (for owners of older cars) call after MOT with the failures list. The mechanic read a long list then said the fateful line "and that's just the first page!"

    It was a £500-750 car if not nearer a grand before the MOT. The garage offered to run it down to the car breakers yard with a bit of extra scrap metal in it to make it worth their effort, for no charge! Hah! I said it was OK I'll collect it in the afternoon. The next day I dropped it off at the breakers and got nearly hundred pounds. I had my own scrap in the boot too. Looking back I should have gone to another MOT garage because that was when that garage owner started to become greedy and ripping ppl off. Well he had a fast car addiction to fund, Nissan skyline got import which he was always tuning up for example plus the bikes, quads, mini bikes, etc.

    I digress. Insurance for cars and houses and indeed any insurance is a bit of a minefield IMHO. You have to be vigilant every renewal period for tricks.
     
  8. LesleySM

    LesleySM Well-Known Member

    It's rather amazing what you can save by looking around.

    Dave used the same power supplier and ISP for years, I kept saying he should look into changing but his middle name was "Procrastination" and as the accounts were in his name there was nothing I could do

    I got my gas/electric bill down by 50% by changing and I knew that was still too much but as I say I had the money so I paid it and when they finally sorted it out. I got it down by 75% and about £700 refunded and I still think when they next do a meter reading it'll go down

    I stayed with his ISP though but doubtless realising he was well out of contract they offered me the same package he was on for £15 a month less
     
  9. Brian

    Brian Venerable Elder

    At the risk of accusations of adding fuel to the fire I would say that I read the comment as not getting comprehensive insurance on a certain class of car (quickly depreciating value cars). I take that as meaning getting third party on cars straight out of the showroom new or nearly new because AFAIK they depreciate the fastest.


    As did I.

    But don't let this put you off, the forum is a good place but like most families we do from time to time have the odd falling out.
     
    Last edited: Sep 10, 2017

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