Car Insurance

Discussion in 'The Intelligence Cell' started by jack-daniels, Jul 27, 2011.

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  1. Why is that when I get quotes for my car insurance and tick the box that says ''I have a non-motoring related conviction'' the premiums go up by about £70?
    No points/claims etc in nearly 30 years of driving and they use the other conviction to bump the price up......robbing ******* bastards.....which isn't what I was convicted for by the way!!
    Anyone on here work in insurance and can tell me why that is?
     
  2. The_Duke

    The_Duke LE Moderator

    Yes - because it indicates "moral hazard", being how the insured persons attitude and morals may impact on the probability or severity of a loss.

    A person who is happy to break one law may be willing to break others. If it is a violence related crime, it may show a tendancy to violent or aggressive behaviour, possibly resulting in road rage. A person with theft convictions has shown a disregard for the law relating to taking things that do not belong to them, and has a greater probability of putting in a fraudulent claim etc, etc.
     
  3. Because it's all a scam to pay for yet another £1000 digital video camera that was dropped over the side of a ferry by accident on the way home from France.
    People need to ask why they think it's ok to to make fraudulent claims "it doesn't hurt anyone does it" yes it does as you have just found out.
     
  4. I just phoned one of them up and the bloke on the end of the line didn't even know why!
    I can see your point though Duke but it's a bit bloody off and just another money making scam if you ask me. It's called car insurance, not morality insurance....mind you if the car that hits me or mine is stolen by a bunch of Poles then that's a different bloody matter!
     
  5. And while we are asking questions, why the **** did my car insurance double when I moved a mile up the road? Yet another insurance company said it's the same risk post code and were happy to take my business at last years premium.
     
  6. The_Duke

    The_Duke LE Moderator

    To you it is a money making scam -to the insurers it is an attempt to identify those with a greater probability of having an accident or submitting a fraudulent claim and charging them an appropriate premium rather than applying it accross all car owners as a punishment levy.

    You say tomato, I say many purchasers of retail insurance are lying bastards who don't see committing fraud as being any kind of offence and are happy to have everyone else pay for their theft by way of increased premiums!

    You are suffering as a result of their theft.
     
  7. The_Duke

    The_Duke LE Moderator

    Because they are different companies with different rating systems. They are entitled to charge what they feel is the correct premium, and you are entitled to shop around and place your business where you chose. Think Lidl vs Harrods - they chose their target markets, you chose where you want to go to buy your food.
     
  8. The_Duke

    The_Duke LE Moderator

    j-d,

    One final tip - now you have declared it, please don't try resubmitting your application without it to get the cheaper quote. Insurers keep records for applications, and it is a very simple (and routine) check in the event of a claim that the details submitted on your application are consistent with details submitted on previous applications, whether you purchased then or not.

    You see, one method of fraudulently purchasing insurance is to keep changing your application to identify what the key risk triggers are for insurers and then removing/altering the ones that bump the price up!