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Re: Car insurers robbing the nation
Posted: Sun Mar 03, 2024 10:31 pm
by Adz
I wonder if any economists have used insurance premiums in their economic forecasting. Seems like a large driver is surging inflation and societal unrest which I'd have thought could be used to predict future recessions.
Re: Car insurers robbing the nation
Posted: Sun Mar 03, 2024 10:36 pm
by Rich Tea Wellin
Adz wrote: ↑Sun Mar 03, 2024 10:31 pm
I wonder if any economists have used insurance premiums in their economic forecasting. Seems like a large driver is surging inflation and societal unrest which I'd have thought could be used to predict future recessions.
They were all blind sided by the huge inflation. I think you over estimate how smart the industry is
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 12:49 am
by E10EU
Rich Tea Wellin wrote: ↑Sun Mar 03, 2024 10:36 pm
Adz wrote: ↑Sun Mar 03, 2024 10:31 pm
I wonder if any economists have used insurance premiums in their economic forecasting. Seems like a large driver is surging inflation and societal unrest which I'd have thought could be used to predict future recessions.
They were all blind sided by the huge inflation. I think you over estimate how smart the industry is
What contribution, if any, did the Truss vision and determinations during her extremely short leadership have on inflation?
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 9:50 am
by Yanzi Gravy
The Reverend wrote: ↑Sun Mar 03, 2024 9:57 am
Isn’t basically everything in this country absurdly expensive now?
Groceries, train travel, eating out, gas, electric, houses, rent. I don’t see why insurance wouldn’t be on that list.
I just insured two classic cars agreed value, limited mileage to 2000 miles each for roughly 200 pounds each. Free tax, no mot required, ULEZ free too! One is a RR
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 10:24 am
by Rich Tea Wellin
Yanzi Gravy wrote: ↑Mon Mar 04, 2024 9:50 am
The Reverend wrote: ↑Sun Mar 03, 2024 9:57 am
Isn’t basically everything in this country absurdly expensive now?
Groceries, train travel, eating out, gas, electric, houses, rent. I don’t see why insurance wouldn’t be on that list.
I just insured two classic cars agreed value, limited mileage to 2000 miles each for roughly 200 pounds each. Free tax, no mot required, ULEZ free too! One is a RR
Explains a lot
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 11:10 am
by y o y o y
Yanzi Gravy wrote: ↑Mon Mar 04, 2024 9:50 am
The Reverend wrote: ↑Sun Mar 03, 2024 9:57 am
Isn’t basically everything in this country absurdly expensive now?
Groceries, train travel, eating out, gas, electric, houses, rent. I don’t see why insurance wouldn’t be on that list.
I just insured two classic cars agreed value, limited mileage to 2000 miles each for roughly 200 pounds each. Free tax, no mot required, ULEZ free too! One is a RR
Reliant Robin?
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 11:31 am
by Top of the JES
Not just cars.
My home insurance renewal received today (not claimed for buildings or contents in 20 years) jumped by 41%. Thieving gits.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 11:36 am
by Dunners
The thing is, as RTW has pointed out, the insurance companies are just reacting to the increased risk and increasing costs. And if you think this is bad, just wait until the increased cost of shipping due to the Hoofi maritime attacks in the Red Sea hits us by about June.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 11:45 am
by Rich Tea Wellin
Also, haven’t got stats for the this but in cost of living crisis’ fraudulent claims sky rocket as we have seen in the last few years.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 12:25 pm
by BoniO
Dunners wrote: ↑Mon Mar 04, 2024 11:36 am
The thing is, as RTW has pointed out, the insurance companies are just reacting to the increased risk and increasing costs. And if you think this is bad, just wait until the increased cost of shipping due to the Hoofi maritime attacks in the Red Sea hits us by about June.
No need to wait until June - that excuse is already being rolled out.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 12:57 pm
by LittleMate
My car premium was £1,045. Axa wanted £2,091 to renew in 3 weeks time. Onto a comparison site and the cover cost £1,088 with Sainsubury's - who gave me nectar points and spread the cost over 10 repayments for £8!.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 3:55 pm
by Yanzi Gravy
y o y o y wrote: ↑Mon Mar 04, 2024 11:10 am
Yanzi Gravy wrote: ↑Mon Mar 04, 2024 9:50 am
The Reverend wrote: ↑Sun Mar 03, 2024 9:57 am
Isn’t basically everything in this country absurdly expensive now?
Groceries, train travel, eating out, gas, electric, houses, rent. I don’t see why insurance wouldn’t be on that list.
I just insured two classic cars agreed value, limited mileage to 2000 miles each for roughly 200 pounds each. Free tax, no mot required, ULEZ free too! One is a RR
Reliant Robin?
I used to have one of them , I did not feel too safe in it. Was a bit of fun and that was it.
Re: Car insurers robbing the nation
Posted: Mon Mar 04, 2024 3:57 pm
by Yanzi Gravy
Dunners wrote: ↑Mon Mar 04, 2024 11:36 am
The thing is, as RTW has pointed out, the insurance companies are just reacting to the increased risk and increasing costs. And if you think this is bad, just wait until the increased cost of shipping due to the Hoofi maritime attacks in the Red Sea hits us by about June.
Built in somewhere is premium to Motor Insurers Bureau who act for all those who are uninsured on the road as we all pay for the unfortunate consequences of these drivers.
Re: Car insurers robbing the nation
Posted: Tue Mar 05, 2024 5:30 pm
by B.whitehouse+10more
Dunners wrote: ↑Sun Mar 03, 2024 5:42 pm
Admin wrote: ↑Sun Mar 03, 2024 4:39 pm
Dunners wrote: ↑Sun Mar 03, 2024 1:49 pm
I added my 18 year old son to my insurance this year. If you lot think you've got problems...
This. FTC junior takes his test soon. £2,200 is the cheapest price I can get to insure him on a 15 year old Toyota aygo which is apparently the cheapest lowest group car to insure. Unless I get him a wheelbarrow instead.
Unbelievably, that's actually not a bad price. I've had to do it as he needs to drive for college/work, but putting him on my insurance has seen my total premium hit just over £3,200. And I have zero offences and full no claims.
Why don’t you employ a part time chauffeur?
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 7:34 am
by Long slender neck
https://www.theguardian.com/money/artic ... -of-claims
Here we have it, "claims management" firms robbing us all. How is this allowed?
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 7:39 am
by Hoover Attack
The claims management companies aren’t robbing us.
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 7:54 am
by Long slender neck
Did you not read the article?
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 8:03 am
by Currywurst and Chips
He’s right though, they’re not robbing us they’re robbing the insurers who then rob us
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 8:05 am
by Hoover Attack
Yes.
It’s the car hire companies and dodgy repairers that are doing the robbing.
Re: Car insurers robbing the nation
Posted: Sat May 11, 2024 9:00 am
by Long slender neck
Must be in cahoots with the claims management people though
Re: Car insurers robbing the nation
Posted: Sun May 12, 2024 1:02 am
by Eggski
So is the outcome of this thread, is to prove that the Torys own and run Churchill Insurance? O yes