How will the insurance try to screw me? - Page 2 - SV650.org

punyXpress · 10-01-11, 01:09 PM

You may have protected NCB, but when ( not if ) they increase the basic premium YOU IS WELL SHAFTED
HTH

Oh, + enjoy Canada

yorkie_chris · 10-01-11, 01:51 PM

It doesn't matter about NCB you still have to declare any claims or losses and as you are proposer of policy they will see it as your fault.

She bent it, get her to fix it.

10-01-11, 02:41 PM

If you are going to involve your insurance company, your going to pay for it. Regardless of who, when, where was driving it and regardless of no claims protection or not.

Insurance companies are the biggest swindlers out there.

10-01-11, 02:50 PM

an ex shafting you to! ouch
if the car is only worth a few hundred id sell it for scrap and not claim

keith_d · 10-01-11, 03:06 PM

Protected no claims isn't worth squat. These days 'no claims' is just a piece of marketing bull***t, since you have to disclose any claims and even non-fault claims appear to affect your premiums.

Years ago, no claims discount was used in calculating the premium. But these days it's all computerised scoring systems and 'cherry picking low risk demographics'. Which, given the random nature of traffic accidents, means they're using some pretty p*ss poor analysis.

So, IMO, 'protected no-claims' is just an excuse to screw you for another premium up front, with little or no beneficial effect on your future premiums. You may still have 60% discount on paper, but your basic premium has just doubled.

Anyone in the motor insurance industry care to comment?

Keith.

10-01-11, 04:22 PM

You are going to need a bigger tub of vaseline chap

TamSV · 10-01-11, 04:46 PM

Quote:

Originally Posted by keith_d

Protected no claims isn't worth squat. These days 'no claims' is just a piece of marketing bull***t, since you have to disclose any claims and even non-fault claims appear to affect your premiums.

Years ago, no claims discount was used in calculating the premium. But these days it's all computerised scoring systems and 'cherry picking' low risk demographics. Which, given the random nature of traffic accidents, means they're using some pretty p*ss poor analysis.

So, IMO, 'protected no-claims' is just an excuse to screw you for another premium up front, with no beneficial effect on your future premiums. You may still have 60% discount on paper, but your basic premium has just doubled.

Anyone in the motor insurance industry care to comment?

Keith.

I'm no longer significantly involved in private motor insurance but I have some sympathy with what you're saying.

No Claims Bonus is, and always was, a device invented by insurers to discourage you from claiming. It's no more or less than that.

Now premium generation is computerised it is very easy for the gross premium to be significantly manipulated upwards, making the amount of discount meaningless. You couldn't have done that in the old days of the printed rating matrix.

However, there's plenty of alternatives out there and virtually no barriers to switching, so if one insurance company is getting their rating wrong another insurer will pick up that business.

10-01-11, 04:55 PM

At the end of the day, seeing as it is only worth 2.50 there's not a lot to worry about.

punyXpress · 10-01-11, 04:57 PM

Where's the Option " Slowly, very slowly - to prolong the pain " ?

andrewsmith · 10-01-11, 05:09 PM

Vaseline up mate your going to be shafted.

I'm guessing she's crashed the tank?
Its worth £4.99

View Poll Results: How will the Insurance try to screw me?
She's only insured Third party	4	15.38%
There's something you didn't tell us about	4	15.38%
Your car is only worht £2.50	1	3.85%
The damage is about £200 so we'll write your car off	3	11.54%
You haven't informed us in the correct way/ Some other crappy excuse	3	11.54%
All of the above and Keith D	11	42.31%
Voters: 26. You may not vote on this poll

10-01-11, 01:09 PM	#11
punyXpress Member Mega Poster Join Date: Feb 2008 Location: Riding, North Posts: 2,664	Re: How will the insurance try to screw me? You may have protected NCB, but when ( not if ) they increase the basic premium YOU IS WELL SHAFTED HTH Oh, + enjoy Canada __________________ Was: K2 naked in rapid yellow - gone to a better? place Now: Street Triple R

10-01-11, 01:51 PM	#12
yorkie_chris Noisy Git Mega Poster Join Date: Apr 2007 Location: Halifax/Leeds Posts: 26,645	Re: How will the insurance try to screw me? It doesn't matter about NCB you still have to declare any claims or losses and as you are proposer of policy they will see it as your fault. She bent it, get her to fix it. __________________ Currently Ex Biker Now rebuilding a 63' fishing trawler as a dive boat

10-01-11, 02:41 PM	#13
Stig Guest Posts: n/a	Re: How will the insurance try to screw me? If you are going to involve your insurance company, your going to pay for it. Regardless of who, when, where was driving it and regardless of no claims protection or not. Insurance companies are the biggest swindlers out there.

10-01-11, 02:50 PM	#14
irons Guest Posts: n/a	Re: How will the insurance try to screw me? an ex shafting you to! ouch if the car is only worth a few hundred id sell it for scrap and not claim

10-01-11, 03:06 PM	#15
keith_d Member Mega Poster Join Date: Feb 2009 Location: Ruislip Posts: 1,131	Re: How will the insurance try to screw me? Protected no claims isn't worth squat. These days 'no claims' is just a piece of marketing bull**t, since you have to disclose any claims and even non-fault claims appear to affect your premiums. Years ago, no claims discount was used in calculating the premium. But these days it's all computerised scoring systems and 'cherry picking low risk demographics'. Which, given the random nature of traffic accidents, means they're using some pretty pss poor analysis. So, IMO, 'protected no-claims' is just an excuse to screw you for another premium up front, with little or no beneficial effect on your future premiums. You may still have 60% discount on paper, but your basic premium has just doubled. Anyone in the motor insurance industry care to comment? Keith. Last edited by keith_d; 10-01-11 at 04:34 PM.

10-01-11, 04:22 PM	#16
Amplimator Guest Posts: n/a	Re: How will the insurance try to screw me? You are going to need a bigger tub of vaseline chap

10-01-11, 04:55 PM	#18
Reeder Guest Posts: n/a	Re: How will the insurance try to screw me? At the end of the day, seeing as it is only worth 2.50 there's not a lot to worry about.

10-01-11, 04:57 PM	#19
punyXpress Member Mega Poster Join Date: Feb 2008 Location: Riding, North Posts: 2,664	Re: How will the insurance try to screw me? Where's the Option " Slowly, very slowly - to prolong the pain " ? __________________ Was: K2 naked in rapid yellow - gone to a better? place Now: Street Triple R

10-01-11, 05:09 PM	#20
andrewsmith Member Mega Poster Join Date: Apr 2010 Location: Newcastle upon Tyne, Just south of salad dodging country Posts: 7,750	Re: How will the insurance try to screw me? Vaseline up mate your going to be shafted. I'm guessing she's crashed the tank? Its worth £4.99 __________________ RIP Reeder 20/07/1988 - 21/03/2012. Always missed squire!!! Every year we meet old friends, gain some new ones, lose old ones and you always remember them all. “Live as if you were to die tomorrow. Learn as if you were to live forever.” Mahatma Gandhi

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