BBC Posted January 19, 2011 Report Share Posted January 19, 2011 Hi, We are looking for people that may have been hit by the huge rise in car insurance around the London area in the past few months. Are you a first time driver that can't afford to keep your car on the road? Have you renewed your policy and found that your prices have rocketed? Do you live in a high risk area and have had to move to keep your policy down? Have you been refused insurance because of where you live? If you are interested in sharing your story please contact us at [email protected]. Thank you. Link to comment Share on other sites More sharing options...
stooH Posted January 19, 2011 Report Share Posted January 19, 2011 Cruiser, you playing games again? Link to comment Share on other sites More sharing options...
Milo Posted January 19, 2011 Report Share Posted January 19, 2011 Is this where I have another rant at the onslaught directed at motor insurers because they've started to fight back at the ridiculous claims they're faced with and losses they've faced? High risk = high premium Too much risk = no-one wants your business All motor insurance has rocketed regardless of your location; assuming username 'BBC' is a BBC researcher, spend some time reading some of the threads on here to find out some of the reasons why. Then do some research on the combined ratio figures on motor insurance for the top UK insurers. It stinks that areas or age groups are bundled together as bad apples and labelled high risk but that's the way it's been for years; insurers can't hold infinite data on individuals and their risk profiles, history, inside leg measurement etc to tailor individual premiums for all 60 million of us. It would cost £££s (and consumers would pay for it ) and no doubt the BBC would then make a programme about how insurers invade your privacy. If motor insurers were creaming the profits in then fair enough. But they're not. How about you make a programme about the no-win-no-fee companies that have driven the massive rise in premiums? Or the seemingly endless queue of punters willing to turn a minor bump into a £3k whiplash claim plus a hire car for 2 months etc etc? There. Share that with your viewers. Pfffft. Link to comment Share on other sites More sharing options...
stooH Posted January 19, 2011 Report Share Posted January 19, 2011 Link to comment Share on other sites More sharing options...
Tipex Posted January 19, 2011 Report Share Posted January 19, 2011 Maybe they are doing an unbiased report on the causes of high insurance Milo, until you know what they are going to do, that seems like a rather pointless rant... Link to comment Share on other sites More sharing options...
Milo Posted January 19, 2011 Report Share Posted January 19, 2011 Maybe they are doing an unbiased report on the causes of high insurance Milo, until you know what they are going to do, that seems like a rather pointless rant...The title of the thread and the content of the post would suggest it's more likely a dig at insurers. I'm sure BBC will be back to clarify what they're after...Until they do, I'll continue to enjoy my ranting, thanks. Link to comment Share on other sites More sharing options...
Mr Man Posted January 19, 2011 Report Share Posted January 19, 2011 The title of the thread and the content of the post would suggest it's more likely a dig at insurers. I'm sure BBC will be back to clarify what they're after...Until they do, I'll continue to enjoy my ranting, thanks. Carry on....a friend of a friend was once asked to appear on Panarama as an expert quest....he was well and truly shafted and was not happy about the final edit...he was furious that the edit made it appeaer he believed there was an issue/problem when the scientific data indicated there was`t.....and when he complained, the journalist in question....just made the point that they were making a tv programm and Panarama was`t Horizon....basically they were out to shock the public.....My friend`s mate was furious because in this case the facts really did get in the way of a good story.....I won`t name the journalist or the subject....it was about 10yrs ago....but you will have heard of him. Link to comment Share on other sites More sharing options...
m4ttm4son Posted January 19, 2011 Report Share Posted January 19, 2011 How about you make a programme about the no-win-no-fee companies that have driven the massive rise in premiums? Or the seemingly endless queue of punters willing to turn a minor bump into a £3k whiplash claim plus a hire car for 2 months etc etc? I'd watch that. Though it would give ideas to the last few that don't make superfluous claims on top of their no fault accident. I'd like to see insurers have a stronger database of details to base insurance premiums on. Link to comment Share on other sites More sharing options...
Flynn Posted January 19, 2011 Report Share Posted January 19, 2011 Don't get me started on insurance mate. It is legalised age descrimination. How would you like to be 17 and be faced with a quote of £3500 for a 2 diesel Corolla. Yeah, that was me at 17 and it stopped me from learning to drive until I was nearly 18 and owning a car until I was 19. Totally unfair, I reccommend that we beat up all of the insurance people for the fraud that they are allowed to conduct. I'm not a violent person but they deserve a bashing for making it impossible for first time drivers. It makes me fuming. Link to comment Share on other sites More sharing options...
Milo Posted January 19, 2011 Report Share Posted January 19, 2011 If you @ 17/18 and your peer group stopped putting your barry cars in ditches every other week, you wouldn't have to pay £3500. Link to comment Share on other sites More sharing options...
Tipex Posted January 19, 2011 Report Share Posted January 19, 2011 Sorry Flynn but milo is absolutely correct, much as we hate high premiums, it's our own fault. I know I claimed a few times as a teenager in a barried motor. Although saying that, I've never, ever bumped up a claim, or claimed whiplash, even when i've had it. I guess we'll just have to wait and hope for an honest and balanced programme. Link to comment Share on other sites More sharing options...
cruiser647 Posted January 19, 2011 Report Share Posted January 19, 2011 No, Stooh! Not me! There was an article on Yahoo News (IIRC) where it says the OFT is looking into the 'fact'? that insurance premiums are open for all to see - including competitors. Meaning the insurance companies can see the premium you are paying and any rises in the next one (or something like that). This is wrong as it means there is sooo much less incentive/competition in the market. Anyway, we'll see. Oh, Mr BBC - get your other journos on here and see what 'REAL PEOPLE' think of government issues. We have a broad spread of thinkers (and non-thinkers) on here who will give you there honest thoughts all the time. Especially when it comes to transport, cost of stuff, politics, football, cars, food, other sports, technology, tax, justice AND injustice, religion, sex - need I go on? However, I doubt you'll be back. Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted January 19, 2011 Report Share Posted January 19, 2011 This thread got me thinking... What I'm about to post may well hack a few younger people off, but hey... I'm changing the 6 this year so I thought I'd have a play and see just how high insurance premiums had got because I didn't fancy getting a shock if I just changed without checking. Now, I am NOT saying this is the car I would be getting. In fact it almost certainly won't be, but I thought I'd go to the extreme just to see what the damage would be. I'm with eSure at present and pay around £550 p.a. on what is a 5 year old car worth about £17k, so I thought the quote I'd get would be huge on.... 2009 Porsche 911 Turbo S £750 voluntary excess (because being realistic it won't take much to rack up damage in monetary amounts on one) Myself and MrsMe to drive it 10 years+ NCB 6 points that are 2 years old with a £375 fine from one offence (speeding at 100+ mph) Tracker fitted SDP and Business use (between appointments etc) The price stunned me - £944. What stunned me equally was that the next 5-6 quotations were all sub-£1,000. So there. There is a plus side to being over 40! Link to comment Share on other sites More sharing options...
Flynn Posted January 19, 2011 Report Share Posted January 19, 2011 If you @ 17/18 and your peer group stopped putting your barry cars in ditches every other week, you wouldn't have to pay £3500. Sorry Flynn but milo is absolutely correct, much as we hate high premiums, it's our own fault.I know I claimed a few times as a teenager in a barried motor. Although saying that, I've never, ever bumped up a claim, or claimed whiplash, even when i've had it. I guess we'll just have to wait and hope for an honest and balanced programme. How is it my fault? I challenge anyone to say that to my face:mad: It's nothing to do with me if other people claim on their insurance. Once I crashed my car I got it fixed month by month and the insurance never knew and never will. Why anyone would use insurance unless they crashed into someone else I don't know. Link to comment Share on other sites More sharing options...
Milo Posted January 19, 2011 Report Share Posted January 19, 2011 (edited) There was an article on Yahoo News (IIRC) where it says the OFT is looking into the 'fact'? that insurance premiums are open for all to see - including competitors. Meaning the insurance companies can see the premium you are paying and any rises in the next one (or something like that). This is wrong as it means there is sooo much less incentive/competition in the market. Anyway, we'll see. Hmmm, not strictly true. I posted something on this on another thread last week. The OFT has concluded their investigations and said there was no evidence of price fixing. However it has asked the biggest insurers by revenue to agree to some changes in how they share data; surprisingly they all have.... It revolved around a common piece of software they used which allowed them to see how a competitor might price a risk e.g. feed flynn's info into the machine and the computer might say "416xyz". An insurer might price a "416xyz" risk profile at £4,200 but could see that others might price it at £4330, £4100 or £3999. There was no evidence to suggest they then altered their own pricing structure to either win or lose the business however it begs the question, why have access to other businesses pricing? It could be argued that it may have worked both ways. A lower risk may have priced at £500 on your own system but you could see it being £480 on a competitor's. Now if you really thought the risk was low, you may have been tempted to price yours at £470 so the consumer wins. But the OFT found no evidence to suggest this has been going on. Edited January 19, 2011 by Milo Link to comment Share on other sites More sharing options...
Milo Posted January 19, 2011 Report Share Posted January 19, 2011 How is it my fault? I challenge anyone to say that to my face:mad: It's nothing to do with me if other people claim on their insurance. Once I crashed my car I got it fixed month by month and the insurance never knew and never will. Why anyone would use insurance unless they crashed into someone else I don't know. Statistics say your age group is a lot more likely to stuff a car into a tree (or my car, or a wall) than any other age group. Therefore the younger you are, the bigger the risk you represent to them. And with the cost of a claim capable of hitting 5 figures for the most minor of bumps these days, you're a massive risk to them so pay up and be grateful you can even find anyone to take a chance on you. Link to comment Share on other sites More sharing options...
Flynn Posted January 19, 2011 Report Share Posted January 19, 2011 Yeah but £3500 isn't affordable for your average person. Link to comment Share on other sites More sharing options...
cruiser647 Posted January 19, 2011 Report Share Posted January 19, 2011 Hmmm, not strictly true. I posted something on this on another thread last week. The OFT has concluded their investigations and said there was no evidence of price fixing. However it has asked the biggest insurers by revenue to agree to some changes in how they share data; surprisingly they all have....It revolved around a common piece of software they used which allowed them to see how a competitor might price a risk e.g. feed flynn's info into the machine and the computer might say "416xyz". An insurer might price a "416xyz" risk profile at £4,200 but could see that others might price it at £4330, £4100 or £3999. There was no evidence to suggest they then altered their own pricing structure to either win or lose the business however it begs the question, why have access to other businesses pricing? It could be argued that it may have worked both ways. A lower risk may have priced at £500 on your own system but you could see it being £480 on a competitor's. Now if you really thought the risk was low, you may have been tempted to price yours at £470 so the consumer wins. But the OFT found no evidence to suggest this has been going on. Yeah, that's it! Nicely explained. Link to comment Share on other sites More sharing options...
Mr Man Posted January 19, 2011 Report Share Posted January 19, 2011 (edited) Don't get me started on insurance mate. It is legalised age descrimination. How would you like to be 17 and be faced with a quote of £3500 for a 2 diesel Corolla. Yeah, that was me at 17 and it stopped me from learning to drive until I was nearly 18 and owning a car until I was 19. Totally unfair, I reccommend that we beat up all of the insurance people for the fraud that they are allowed to conduct. I'm not a violent person but they deserve a bashing for making it impossible for first time drivers. It makes me fuming. Well why don`t you send a pm to BBC....you never know you may end up on telly!!!.....back on topic...we`v all been young mate....insurance was a killer when I first learnt to drive....I did`t take my test until I was 24yrs old....My first car was a 1.4 Talbot samba in 1987....and I think my first fully comp premium was something like £600....and that was for rural Anglesey...God only knows what it would have been if I`d been living in an urban location and 6yrs younger.....The youngsters round here pay about 2k to insure an old base model Fiesta/Ka/106 etc..etc.....In the vast majority of cases I`v seen or heard of the premium exceeds the cost of the car. Edited January 19, 2011 by Mr Man Link to comment Share on other sites More sharing options...
cruiser647 Posted January 19, 2011 Report Share Posted January 19, 2011 Don't get me started on insurance mate. It is legalised age descrimination. How would you like to be 17 and be faced with a quote of £3500 for a 2 diesel Corolla. Yeah, that was me at 17 and it stopped me from learning to drive until I was nearly 18 and owning a car until I was 19. Totally unfair, I reccommend that we beat up all of the insurance people for the fraud that they are allowed to conduct. I'm not a violent person but they deserve a bashing for making it impossible for first time drivers. It makes me fuming. They use the stats, and stats show that younger drivers and a higher risk. You might well be a driving god, BUT the young peasants driving around you are not! We've arsed about in cars when younger and crashed them. Infact, who on here did NOT crash their first car? I did, and had to get it fixed (along with mr Farmer's fence.......... on insurance). But you grow older and wiser and as MrMe says, being over 40, with family and mortgage/commitments does have advantages. Link to comment Share on other sites More sharing options...
cruiser647 Posted January 19, 2011 Report Share Posted January 19, 2011 In 1993, I was paying just over £1K insurance for my Lancia Thema - I was single and 24 at the time. Still got to 2002, with an Audi V8 and I was still paying over £1200 (IIRC) - married, kids, house!!!! That's the way it goes. Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted January 19, 2011 Report Share Posted January 19, 2011 We've arsed about in cars when younger and crashed them. Infact, who on here did NOT crash their first car? I didn't crash my first car. Instead I wrote off my fathers van before I'd even got my own. Link to comment Share on other sites More sharing options...
cruiser647 Posted January 19, 2011 Report Share Posted January 19, 2011 I didn't crash my first car. Instead I wrote off my fathers van before I'd even got my own. ha ha! Link to comment Share on other sites More sharing options...
Flynn Posted January 19, 2011 Report Share Posted January 19, 2011 I had the chance not to crash my first car but one night of stupidity I was utterly pushing my luck and crashed it into a post. I should have known better, it was icy and I had hit some ice before the post. If I didn't do that I could have said that I didn't crash in the first year of driving but I blew my chances through cocking about Link to comment Share on other sites More sharing options...
shao_khan Posted January 19, 2011 Report Share Posted January 19, 2011 I think the thread title would have been better as "Victims of greedy money grabbing ambulance chasing legal professionals driving the rest of us into the ground" With MrMe tho - my TT renewal was only £400, granted its only worth £10k but maybe the colour helps reduce the premium?? Link to comment Share on other sites More sharing options...
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