OMG insurance

'92 Si VTEC · Post by **jjmartin349571** » Tue Apr 24, 2012 11:12 pm

I just realised I think you misread my post - I'm not saying that younger drivers cause more expensive damage per crash, I have no idea about that, but I'm saying we cause more individual accidents

Shiny · Post by **Shiny** » Wed Apr 25, 2012 12:20 am

Accidents with young drivers are more frequent and more costly. There are more injuries and fatalities where young drivers are concerned. Fact.

Insurers haven't made money in general on motor insurance for a good 10 years, it has been a loss leader for other business and buying in market share. Injury claims and awards have soared in recent years to the point that the likes of Direct line were running at a COR of over 120%, hence the big premium increases over the last year or two.

I can bore you anything you need to know, 26 years in high street broking has taught me a thing or two. I know all the bullshit, all the scams, so do the insurers and I've seen some pretty dire consequences over the years. People will still stand by their misinformed opinions though, after all what do I know!

2lude · Post by **2lude** » Wed Apr 25, 2012 1:56 am

My brother works in insurance fraud and his companey have under cover agents that stake out suspected fraud and check this type of thing at random for some very well know insurers

Ted · Post by **Ted** » Wed Apr 25, 2012 8:31 am

bore me with this one then shiny if you would be so kind

why is it that on my traders policy i can drive for example a ferrari or lamborghini but the company im with would not allow me to drive a jdm import, my prelude which is a jdm put me in a predicament with that so after many calls they allowed jdm at no extra cost but doubled the excess for them .
im also a flood risk as there is a river about 15 ft away from the back of my garage, said river is down a banking about 20 ft and the other side of the river the banking is only about 6 ft making it impossible for the river to reach me. i can only assume they go on a postcode for this but surely i should not be loaded to subsidise the other side of the river.
ah my own personel insurance adviser for free. well i'll rep you of course

littlefeller · Post by **littlefeller** » Wed Apr 25, 2012 8:56 am

i think the problem with jdm is the parts, i had a rear ender a couple of years ago in my jdm lude, now the loss adjuster came out took one look at it and says uuummm wont be able to get that rear bumper new (coupled with the cost from a body shop) for less than the value of the car, so we will just pay you the value of the car and what you do with it is up to you.
this seems a little daft to me as i could just go get another rear ender, in fact i could have a few

will they pay out the same every time

i argued i could supply the parts, but his broken suspension look was the parts have to be new not second hand

i still carry the battle scars on my lude to this day, but if i take off the sum i recieved from the sum i paid for the lude then i have had some very cheap motoring

Shiny · Post by **Shiny** » Wed Apr 25, 2012 9:11 am

tramroadmotors wrote:bore me with this one then shiny if you would be so kind
why is it that on my traders policy i can drive for example a ferrari or lamborghini but the company im with would not allow me to drive a jdm import, my prelude which is a jdm put me in a predicament with that so after many calls they allowed jdm at no extra cost but doubled the excess for them .
im also a flood risk as there is a river about 15 ft away from the back of my garage, said river is down a banking about 20 ft and the other side of the river the banking is only about 6 ft making it impossible for the river to reach me. i can only assume they go on a postcode for this but surely i should not be loaded to subsidise the other side of the river.
ah my own personel insurance adviser for free. well i'll rep you of course

Which Insurer are you with? Do you a vehicle indemnity limit?

Flood ratings usually go on EA reports by postcode. http://www.environment-agency.gov.uk/ho ... 31650.aspx

Duo · Post by **Duo** » Wed Apr 25, 2012 9:36 am

+rep for Shiny, dude you do loads for the people of this forum and formerly PUK, I for one am very grateful to you for this service and all the information you've given, way over what would be expected of any member

Ted · Post by **Ted** » Wed Apr 25, 2012 10:19 am

i agree duo, shiny seems a top bloke.

the year before last i had a change of premises and a change of business use half way through a policy which was notified but not changed by my insurance when it came to renewal time last june i basically found out i had been trading under my old policy for 5 months and i was on a quote but not confirmed as moving and therfore probably not covered.
in a bit of a flap i just paid up and stayed with my current insurer.

my darling wife phoned me one sunday morning to tell me the police had just stopped her and that her car was not insured, when she told the police we had a motor trade policy his eyes lit up and said but your going to work in asda judging by your uniform thats nothing to do with the motor trade so do you have sdp on your policy ? she rang me and i read out my policy to the copper and his face dropped when i got to the sdp bit, no brownie points for him that day.

i just looked at that environment agency site and to my amazement the side of the river with the low embankment has a very narrow band for flooding and my side the high side has a rather wide band of about 5 0r 6 times the area. it really does baffle me.
i will be shopping around as from may.

Shiny · Post by **Shiny** » Wed Apr 25, 2012 11:16 am

Tramroad, which insurer are you with? If i deal with them i can tell you how it works for Ferraris etc

Shiny · Post by **Shiny** » Wed Apr 25, 2012 11:18 am

tramroadmotors wrote:i agree duo, shiny seems a top bloke.

Must work harder to change this, i am happier when i am being called a rhubarb