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| Quote: The market for car insurance has been referred to the Competition Commission for investigation on the basis that it is not working well for motorists. | |
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http://www.bbc.co.uk/news/business-19755037
Got to love that sentence.
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| Car insurance market referred to Competition Commission http://x404.co.uk/forum/viewtopic.php?f=19&t=17311 |
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| Author: | paulzolo [ Fri Sep 28, 2012 8:17 am ] | |||||||||
| Post subject: | Car insurance market referred to Competition Commission | |||||||||
http://www.bbc.co.uk/news/business-19755037 Got to love that sentence. |
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| Author: | HeatherKay [ Fri Sep 28, 2012 8:21 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
The BBC News channel covered this earlier. Apparently premiums rise by as much as £10 a year.  In my case they seem to go up at least £50 a year. This is why I hate chasing down the best deals every year. Why does my insurance go up every year even though I don't have accidents or make claims? The whole thing is a money-making scam, in my opinion. Law-abiding motorists have to be insured by law, yet we also end up paying more every year. I shouldn't have got started. Sorry. I'll go and lie down for a bit.  
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| Author: | james016 [ Fri Sep 28, 2012 8:24 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
We pay to cover the insurance companies against un-insured drivers and general greediness. My last few renewal quotes are £100 more than the year before. So I go for somewhere cheaper. |
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| Author: | ProfessorF [ Fri Sep 28, 2012 9:12 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
IIRC, my premium went up about £30 - yes I'm not on a mainstream sort of policy, but given that I now have more experience of driving my car, you'd think it'd go down. Generally speaking, when you tell them it's LHD and no, you haven't driven LHD before, that has an affect on the cost of the policy. Yet, bizarrely, after 24 uneventful months of driving a LHD car, my premium went up. |
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| Author: | paulzolo [ Fri Sep 28, 2012 10:49 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
Mine went up a lot this year. I’ve had no claims for over a decade, and while accept that my car isn’t “normal” the increases are for more than even inflation. So I switched to another insurer, found that they beat mine by a lot and had some added extras in there. I bet next year they’ll ramp the prices up. |
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| Author: | mikepgood [ Fri Sep 28, 2012 10:53 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
You just have to shop around. I usually tralw round the internet for half an hour, ring my insurer and tell tham that I can get the insurance for (usually) about £150 cheaper and if they match it fine, if not I go to the other company. They never seem to get the message that if it's hugely more than last year they will lose me. I stick with the big-ish names, could save more with the less known companies, but I'm wary. The same happened with the AA this year, big hike in cost, so I went with the RAC, and got a free year's home start type cover and saved £50 |
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| Author: | HeatherKay [ Fri Sep 28, 2012 11:06 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
Why should I have to shop around every year? This is my beef. I can understand a modest rise every year, but some companies are taking the p¡ss. Oh, wait - they're in it to make money. Sorry. I forgot.  I blogged about it earlier this year when my renewal came up. http://snaptophobic.posterous.com/my-su ... -insurance |
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| Author: | james016 [ Fri Sep 28, 2012 11:35 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
There are so many anomolies when getting quotes that the whole car insurance industry can only be described as necromancy. This year my premium was £277. That's with protected NCB and the missus as a learner driver. Removing my wife from the quote bumped it up to about £320 Once you have done a search on a comparison site then you get the companies ringing you. Without exception, all of their quotes were in the range of £800 which is rediculous. As I told them: I was paying that when I passed my test. One company wouln't give me a quote as it would have been over £1000 as they classifiy my area as high risk (it isn't). This is on a 1.4 06 reg VW Polo with over 9 years NCB, social and domestic use only and up to 5000 miles a year. A couple of years ago when I was with Endsleigh they told me that my premium was going up as one of their underwriters had pulled out of the UK which is why they wanted extra. I moved. |
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| Author: | Zippy [ Fri Sep 28, 2012 11:41 am ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
Since I've switched to Direct Line (this is my second year with them) I've had a bit of faith restored in car insurance companies, they've always given me excellent customer service, my premium this year (Aug) went up by £242 because they still had a claim open from Jan this year, but when I called them to point out that 3 months had passed, they took it back off and apologised for missing it, they've given me their hire car add-on as a way of making amends, as well as dropping my policy back to my 8 years NCB as it should have been. I have used various insurance companies in the 19 years I've owned a car and have never had service as good as this. |
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| Author: | paulzolo [ Fri Sep 28, 2012 11:56 am ] | |||||||||
| Post subject: | Re: Car insurance market referred to Competition Commission | |||||||||
I’ll have to see if adding her to the policy will affect it in anyway. Not that she’s going to be driving the car anytime soon, but if we can bring each other’s policy costs down, then it will be a prudent thing to do. |
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| Author: | l3v1ck [ Fri Sep 28, 2012 1:14 pm ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
I blame the government for allowing lawyers to claim almost twice their actual fees from insurance companies. |
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| Author: | cloaked_wolf [ Fri Sep 28, 2012 2:15 pm ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
I want an overhaul of the entire system. My insurance premium down in Dorset was £700 on my current car. Moved midpolicy and it jumped to £3000 total so had to pay more. I then moved to a mod-friendly insurance company and it was down to £750. Next year it rose to £900 but with protected NCB. This year would have been £1000 so went to another mod-friendly insurance and it was £800 with the ability to go to stage 2 without a premium rise or admin fee. Wonder what will happen when I declare my three speeding points. |
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| Author: | james016 [ Fri Sep 28, 2012 2:39 pm ] | |||||||||
| Post subject: | Re: Car insurance market referred to Competition Commission | |||||||||
Years ago someone I know told his insurance company that he modded his car so they tripled his premium. IIRC he put alloys on and nothing else |
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| Author: | Amnesia10 [ Fri Sep 28, 2012 3:13 pm ] | |||||||||
| Post subject: | Re: Car insurance market referred to Competition Commission | |||||||||
I do not have a car, so car insurance is irrelevant to me, but it does affect people I know. The recession has apparently lead to a surge in fraudulent claims. That might affect some areas where such claims are prevalent. There may also be an increase because of the end of sex discrimination because of EU law. So for men it will mean lower insurance premiums and higher premiums. Though there are loads of others who boost the losses for insurers such as claims chasers. |
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| Author: | TheFrenchun [ Fri Sep 28, 2012 3:26 pm ] |
| Post subject: | Re: Car insurance market referred to Competition Commission |
I always found the car taxing scheme in the UK ridiculous and overpriced. When I learnt to drive in France, my dad had a 807 on the insurance, with a 200e franchise, and we could add cars to the policy for free, which we did for my first cad and I got added to the policy for free as well. but at the same time, we dont have ambulance chasing lawyers. |
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