Are insurance companies stupid?

[sphinX]

I've just got a 106 1.5D as a runaround, group 3, cost me 450 quid done deal. I go to get an insurance quote for it, can't use my no claims as thats with the renault, and they quote me 650 quid...now to me that is just ridiculous. Why would I insurance a car at a price higher than the value of the car in which case if I was to have a crash I would have to pay excess and therefore paying for the damage my self.

It doesn't make sense to me at all how they can give prices so high, yes I am 21 but come on now. Makes me want to drive uninsured (I won't) so i decided I would do the temporary insurance cover for a month and then when I turn 22 see how much it drops by. That price was with multi car discount, I did another with admiral and it was 500 quid without a discount, so where they got that price from I don't know.

Rant over

[BriC]

Insurance can cost more than the value of the car because if you smash into someone else, and it comes out as your fault, your insurance company will have to pay for damage and any compensation to the other party, so the value of your car is irrelevant.

[R5GTTRaider]

insurance company are regulated but dosnt mean there the same price

for example..

im insured with dna insurance inderwriters beeing CHAUCER

now 4 years ago i tapped the back of a hilux in a car park marking his bumper very slightly, swapped insurance detail (i atturly waited around for the owner! wish i didnt now :mad:)

bear in mind ive had countless cars insured in the space of time since that incident

ive heard no mention of claims nor have i been contacted

so my last car was a e30 insured with autonet again though chaucer for 8 months

no mention of this claim

4DAYS after im insured with dna insurance on the r5 apprently chaucer are refusing to insure me becasue of this undisclosed claim!!! im like wtf

now there caneling tomorrow saying chaucer refuse to insuure at that price and give me a revised quote of wait for it.... £2145 i was like take a hike

so while on hold i quickly do a quote on money supermarket and quoted £70 more with the claim, guess what.. with chaucer!!!!:dearme:

i confront dna when he comes back and he says " we use a diffrent chaucer to the comapny youve had a quote from, therefore we unable to match that quote as you have a undisclosed claim" which might i add.. was put down as non-fault:scratch:


so.. im with out a sodding car for 7days till next payday and have to pay another deposit

and also dna are robbing £35 fee for cancelation of the policy so i get £45 back from my origanal deposit!!

some times i do feel insurance companys are robing so n so's but its also protection for you from w@nkers that drive uninsured



well rant over any way:mad::cooter::coffee:

[sphinX]

You know the whole (can't use claim bonus on another car) why the hell not? If im going to be insuring with the same company why can't I use the no claims bonus :'( Also could I not just ask them for my certificate and use it with another insurance company? I hear of a lot of people doing that but don't know if it is actually legal

[Trevhib]

You know the whole (can't use claim bonus on another car) why the hell not? If im going to be insuring with the same company why can't I use the no claims bonus :'( Also could I not just ask them for my certificate and use it with another insurance company? I hear of a lot of people doing that but don't know if it is actually legal

Agreed. At the end of the day you can only drive one car at a time. Feckers.

That said, HIC agreed to mirror my NCB between the R5 and the Prelude. So I'm ok from that perspective.

[BriC]

Also could I not just ask them for my certificate and use it with another insurance company?

Never thought about that, but I guess if you were to crash, and you have insurance on 2 cars, they may check if you are using the same NCB on both policies..

[JRP]

depends if the underwriter is pissed at time of issue or not lol:wasntme:

[TrixNFlix]

I've just got a 106 1.5D as a runaround, group 3, cost me 450 quid done deal. I go to get an insurance quote for it, can't use my no claims as thats with the renault, and they quote me 650 quid...now to me that is just ridiculous. Why would I insurance a car at a price higher than the value of the car in which case if I was to have a crash I would have to pay excess and therefore paying for the damage my self.

It doesn't make sense to me at all how they can give prices so high, yes I am 21 but come on now. Makes me want to drive uninsured (I won't) so i decided I would do the temporary insurance cover for a month and then when I turn 22 see how much it drops by. That price was with multi car discount, I did another with admiral and it was 500 quid without a discount, so where they got that price from I don't know.

Rant over



I've just got a cinqicento s as a cheap runaround, due to the r5 being poo. I'm 27 never had a claim in seven years and am paying £350 tpft!Bearing in mind the engine is 0.9 litres!!! wtf! Funny when i get in and out of it as im 6ft 3in.!! The things you do for the r5 :laugh:

[sphinX]

Think i will wait till insurance runs out on the 5 and then classic insure it

[TNT Tricky Nicky]

Personally I think they are, had a dick pull out of a give way into the side of my car about 3 weeks ago and they're wanting to go 50/50 because we both had side damage! They're quick enough to take your money but don't want to help when needed.

As for second car it's also rediculous you can only drive 1 at a time and the argument is the other car is at risk from fire and theft! WTF, a laid up policy is only about £45 a year!