Motor insurance ripoff

KWIL · 25th June 2021, 11:13

Why do all (most?) insurers provide cover for EU, when I doubt that not a high proportion of vehicles ever leave the UK?

If you want overseas cover, surely it should be an option at your cost, not part paid by everyone?

steve-45 · 25th June 2021, 11:19

Don’t worry, I’m pretty sure that soon you will have to apply for a green card to drive in Europe, but don’t expect your UK only policy to go down to reflect the lower risk.

wraymond · 25th June 2021, 11:48

I hear there are moves afoot to change a lot of seemingly irrelevant matters. You can't help wondering what they will turn to next to discourage any unrest in the so-called 'Community'.

Food for thought on the subject of insurance: what matters is not only the cost of repair to your own car in the event of an accident, but a question of legality in that matter. So long as the 3rd party risks are fully covered, the question of Comprehensive cover on 20 year old cars is economically doubtful. Yet premiums continue to rise.

With the availability of good replacement parts at very modest cost, taken together with the relatively few accidents with the particular model, the rising cost of insurance is becoming equal to the settlement value in the event of a total loss! The parts alone are becoming more valuable than the car.

Take into account the upcoming changes to the sale of spare parts (elsewhere on here) it is becoming a good prospect for an owner's retention of a damaged car, with the appropriate insurance settlement, especially one that has been treasured and having a full car's worth of serviceable parts ready and waiting.

One area where 'overinsurance' is an unnecessary risk is the many add-ons to a policy. These are frequently used to inflate premiums and the claim numbers are so low as to be largely irrelevant. The term 'fully comp' really can mean unnecessarily over-insured.

clf · 25th June 2021, 12:56

Quote:

Originally Posted by KWIL

Why do all (most?) insurers provide cover for EU, when I doubt that not a high proportion of vehicles ever leave the UK?

If you want overseas cover, surely it should be an option at your cost, not part paid by everyone?

Some of us in northern Ireland, it is a necessity and for the past two years I have been sent a green card (although it is white) automatically with my policy.

Sent from my SM-A600FN using Tapatalk

steve-45 · 25th June 2021, 13:42

Quote:

Originally Posted by wraymond

Food for thought on the subject of insurance: what matters is not only the cost of repair to your own car in the event of an accident, but a question of legality in that matter. So long as the 3rd party risks are fully covered, the question of Comprehensive cover on 20 year old cars is economically doubtful. Yet premiums continue to rise.

Interestingly, when I asked for a third party fire and theft quotation it was higher in price than a fully comprehensive policy.

wraymond · 25th June 2021, 14:57

Yes, well, it varies from company to company. A cynic might say 'Ah, that only goes to show they value the car as worthless and the driver as...' well..insert your own version! Or, of course, the insured owner perhaps does not value it in any way, so should we be worried?

I've just had a reminder that mine is up for renewal next month and is offered at £30 lower than last year. And I haven't punted about yet. I will though, using the quote as hard as I can.

Madderz · 27th June 2021, 22:05

They're all Rob dogs in my opinion.
When I took out my policy they informed me about the cost of charges for future amendments.....
Yeah, then there's a £25 + VAT admin charge for the admin charges

And I've still not received my documentation, paid in full in March

SCP440 · 28th June 2021, 08:09

We all grumble about the price we pay for insurance and hopefully we will never need it but if you do you will be glad you paid it.

A couple of years ago I had an accident in my van and it was my fault.

I have since seen the total claim value and it was just over £18k. The van costs me £400 a year to insure and because I have protected no claims my policy price has not gone up and oddly has actually reduced slightly last year.

There was no way I could have found £18k at the time but £400 though a lot of money is affordable.

25th June 2021, 11:13	#1
KWIL Precise Rover 75 Tourer 2.5KV6 Connoisseur SE Join Date: Mar 2013 Location: Fleet Posts: 2,952 Thanks: 630 Thanked 617 Times in 480 Posts	Motor insurance ripoff Why do all (most?) insurers provide cover for EU, when I doubt that not a high proportion of vehicles ever leave the UK? If you want overseas cover, surely it should be an option at your cost, not part paid by everyone?

25th June 2021, 11:48	#3
wraymond This is my second home 75 Auto 2.5 SE Join Date: Feb 2010 Location: Westcliff on Sea Posts: 5,185 Thanks: 423 Thanked 1,680 Times in 1,014 Posts	I hear there are moves afoot to change a lot of seemingly irrelevant matters. You can't help wondering what they will turn to next to discourage any unrest in the so-called 'Community'. Food for thought on the subject of insurance: what matters is not only the cost of repair to your own car in the event of an accident, but a question of legality in that matter. So long as the 3rd party risks are fully covered, the question of Comprehensive cover on 20 year old cars is economically doubtful. Yet premiums continue to rise. With the availability of good replacement parts at very modest cost, taken together with the relatively few accidents with the particular model, the rising cost of insurance is becoming equal to the settlement value in the event of a total loss! The parts alone are becoming more valuable than the car. Take into account the upcoming changes to the sale of spare parts (elsewhere on here) it is becoming a good prospect for an owner's retention of a damaged car, with the appropriate insurance settlement, especially one that has been treasured and having a full car's worth of serviceable parts ready and waiting. One area where 'overinsurance' is an unnecessary risk is the many add-ons to a policy. These are frequently used to inflate premiums and the claim numbers are so low as to be largely irrelevant. The term 'fully comp' really can mean unnecessarily over-insured. __________________ member no. 235

25th June 2021, 14:57	#6
wraymond This is my second home 75 Auto 2.5 SE Join Date: Feb 2010 Location: Westcliff on Sea Posts: 5,185 Thanks: 423 Thanked 1,680 Times in 1,014 Posts	Yes, well, it varies from company to company. A cynic might say 'Ah, that only goes to show they value the car as worthless and the driver as...' well..insert your own version! Or, of course, the insured owner perhaps does not value it in any way, so should we be worried? I've just had a reminder that mine is up for renewal next month and is offered at £30 lower than last year. And I haven't punted about yet. I will though, using the quote as hard as I can. __________________ member no. 235

25th June 2021, 11:19	#2
steve-45 This is my second home Rover 75 Saloon CDTi Join Date: Oct 2015 Location: Belvedere Posts: 4,076 Thanks: 108 Thanked 1,089 Times in 774 Posts	Don’t worry, I’m pretty sure that soon you will have to apply for a green card to drive in Europe, but don’t expect your UK only policy to go down to reflect the lower risk.

27th June 2021, 22:05	#7
Madderz Gets stuck in MG ZT-T Join Date: Aug 2015 Location: Barnsley Posts: 594 Thanks: 233 Thanked 132 Times in 121 Posts	They're all Rob dogs in my opinion. When I took out my policy they informed me about the cost of charges for future amendments..... Yeah, then there's a £25 + VAT admin charge for the admin charges And I've still not received my documentation, paid in full in March

28th June 2021, 08:09	#8
SCP440 I really should get out more....... MG ZT-T 260 Join Date: Feb 2016 Location: Witney Posts: 2,504 Thanks: 6 Thanked 910 Times in 571 Posts	We all grumble about the price we pay for insurance and hopefully we will never need it but if you do you will be glad you paid it. A couple of years ago I had an accident in my van and it was my fault. I have since seen the total claim value and it was just over £18k. The van costs me £400 a year to insure and because I have protected no claims my policy price has not gone up and oddly has actually reduced slightly last year. There was no way I could have found £18k at the time but £400 though a lot of money is affordable.