To think that car insurance has gotten to be a scam

[MaloneMeadow]

Tell me in what world is it reasonable that I’ve just paid £4500 for my (very sensible) DD’s first year of insurance, whilst DM’s 80 year old best friend is still tootling around with severe eyesight issues and dementia, having a near miss on a daily basis yet paying next to nothing insurance wise! Absolutely scandalous that the government are sitting back and allowing the horrendous price gouging currently going on with car insurance in the UK.

RainingCatsnd0gs · Today 22:50

I moved & my car insurance decreased by about £50 this year !

Er....ceteris paribus, that's how it works. Cockermouth v Clapham. Same risk ? No !

Indeed.

I posted stats further up the thread on that, but they just ignore it.

In 2022, on average, car insurers paid out ~£114 for every £100 they took in premiums.

And still people come and claim it's all some big scam.

I think many posters would really benefit from reading up on how insurance premiums are calculated, the lack of understanding on here is quite astounding.

I also drive an d banger, so insurance is cheap !

It's statistics.

The 80 might have poorer eyesight and reaction times but might be statistically less likely to have an accident. She might only drive in day light, only drive short distance, only drive in areas she knows well and she might well be aware that she needs to drive cautiously. She may well be a very experienced driver.
A younger driver won't have that profile. They are likely to drive faster and more recklessly and won't be experienced.

I agree.

Thankfully my DS is now 21 so I took a fully inclusive lease for him at virtually the same monthly cost as his insurance for a 2015 1.6 TD automatic Golf. A new Cupra Leon automatic hybrid will be delivered on Weds for him and he can sell his golf.

The quote for me with >25yrs ncb was over a grand! I'll switch it temporarily onto my insurance to sell it.

I'll be taking out a fully inclusive lease myself when i need a car.

That sounds like an absolutely fabulous deal, I’d never heard of inclusive leasing (at least where we are)

We're all ears. Come on then share your wisdom instead of just sticking your two fingers up at everyone and walking off with no advice to the question in hand at all..

Considering that whilst driving DM to lunch the other day she physically could not even see a car coming towards her in the street due to having such a blind spot in her vision I really don’t think that this is the case!

Don't they all get together somewhere in some big room with massive leather chairs ?

Then they say "we're gonna soak the young uns this year" and rub their hands together like Mr. Burns before throwing the dice and x1000 to see how much they add to the premiums ?

I know someone who works in that business and they say there's a load of computers and stuff, maths and statistics and complicated analysis of risk, but I reckon it's a load of old rot because my insurance went up by £100 this year.

Think of the posters who work in charity shops - they see threads like this about their job regularly. Must be incredibly frustrating for them.

But statistics also show that young men are more of a risk than young women, yet we're no longer allowed to get cheaper insurance for women than for men.

Wow I missed the memo that grown ups with family have relatively new big cars.... if mine could be delivered that would be great 😂.

Not sure it's true for most of my circle!

Nope- parking on the drive not always cheaper. There is a much higher risk of theft if the thieves know which house to target for the keys.

Nobody says insurance is a scam, when something happens & they need to use it !

Think
Travel insurance
Life insurance
Property insurance
Car insurance
Pet insurance

My 18 year old son paid £900 last year to insure with a black box and 2nd year &975 still with a black box and good data, stayed with same company and the black box data is not shared so others can quote on your driving style , which I think is a bit crap as surely thats the idea of them
he has a basic 1L 107 as thats all he can afford to insure

Range Rovers are very high risk for theft.

The 80 might have poorer eyesight and reaction times but might be statistically less likely to have an accident. She might only drive in day light, only drive short distance, only drive in areas she knows well and she might well be aware that she needs to drive cautiously. She may well be a very experienced driver

Exactly this. My Mum is 78, her insurance is very low.

She averages 1500 mileage a year
Doesn't drive in the dark
Doesn't ever go so much as 1 mph over the speed limit.
Never loses her patience or temper at other drivers
She doesn't drive further than about 5 miles from home

Shes a far lower risk than a young driver. She's been driving 52 years has never had a claim or anything on her licence (touch wood)

Also ds renewal did come back at £650 but had him as a student , so now employed it went up over £250 nit sure what stat decided that him driving to work twice a day instead of back and forth to college multiple times with mates in the car makes the insurance jump up aa they don’t have to share these stats or risks ?

Not really read the thread… but in the US they take future earnings into consideration for insurance payouts. A coworker’s DH was killed by a young inattentive driver and the final settlement was $1M+.

That settlement was not out of the ordinary in fact it’s average. It’s a fact that younger drivers have more accidents, therefore not a leap that insurance will be more expensive

It's crazy at the minute.

I paid £1000 this year - baring in mind I'm 27, have been driving 5 years, never made a claim, drove 4 years with a black box (above 85 score every year), drive a tiny little 1L car with barely enough torque to get up to speed on the slip road let alone drive around like a nutter.

I only paid £1100 5 years ago as a new driver. They are taking the piss

My understanding is cars are more expensive so claims higher, my dh had a little di g in His nissan bumper , if he had done if we prob would of left it, but as through someone elses insurance took it in and cost about £2000 to fix as they don’t make them the same and apparently damage under bumper you can’t see
plus lot of whipmash injuries and prob the uninsured , the fine fir being uninsured os often less than insurance , it should be double what it would of cost them ans oais into the pot

They are charging the same rate for new business and renewal customers none but that doesn’t mean it’s discounted.

You used to get a 10% new customer discount on most insurance. It would be advertised on the website and added on and put on your documents. A lot of the time if you got your renewal invitation and then went to your insurers website, you could get a quote including that discount so you’d see how much it was. Insurers offered a discount then slowly increased the price over the next few years to start making a profit. That caused a lot of issues and complaints and was deemed to not be treating customers fairly.

now that can’t happen. So if you shop around with other companies they might give you a lower quote than your current insurer but that’s down to the actuaries calculating risk differently, not because you’re getting a new customer discount.

When people on here talk about “black boxes,” do these include speed-limiters? (I am not in the UK) In some countries, having a speed limiter installed may reduce insurance premiums.

True but I also have a Ghost immobiliser on mine, 2 different sets of CCTV and my drive has armoured posts all round it. Never made one ounce of difference