Weird Insurance conversation with LV

[PhilHornby]

Chat started at 12:03

Chat Agent:
Hi, my name is Sabrice, how can I help today?

Me:
I have obtained a quote from GoCompare and am attempting to finalise it.
When I edit it to say the car has Parking Sensors and a Dashcam,
the quote goes UP instead of DOWN!?!

Chat Agent:
Hi, i'm afraid that would be correct.

Me:
So the more safety features, the more it is to insure?

Chat Agent:
Unfortunately there are replacement costs associated with them even if
they are safety features, in the event of a claim these would need to be
replaced too which would come at an additional cost.

So +£2.79 for Parking Sensors, +£5.54 for a Dashcam and an additional +£0.09 if you have both

[Philr]

Aargh!! The black art that is car insurance. You do know that it's all done by witches and wizards.

[Indalo1]

Aargh!! The black art that is car insurance. You do know that it's all done by witches and wizards.

‘Witches and wizards’........Is that a euphemism for tax cheats?

In my experience, most car insurance companies I have dealt with, along with other forms of insurance, seem to have a registered office in Gibraltar or other domains outside the reach of HMRC. Perhaps more pertinently, if anyone cares to read the history of Lloyd’s of London, just since the millennium will do; it can be seen that that enormous frauds were committed by some of the crooks who populate that award-winning building.

If one can imagine a cross between Arthur Daley and frog-face Farage, then that is the kind of creature that operates inside that weird building in Lime Street. I retain a memory of the typical spiv who pops out from Lloyd’s to lunch on street food in Leadenhall Market - blue suit and brown, lace-up shoes and in the colder months, a camel Crombie, replete with velvet collar. It’s almost like a uniform!

There’s more honesty to be found among bookmakers and their odds-setters than exists among insurance underwriters.

[KevinBattle]

Indalo1: I am amused by your description of the UNDERWITERS in Lloyds, Lime Street, but in my experience as a Lloyds BROKER, they are almost without exception men and women of exemplary character, particularly in my specialty worlds of oil rigs, windfarms and bloodstock.

Motor Insurers are an arcane set, and as highlighted seem to be eventually domiciled outside of even the long fingers of HMRC.
There they have cabalistic seances communing with the Gods of potholes, Fate and speed freaks.

All they seem to be able to produce are Insurance Premiums which now amount to a goodly percentage of the cars value, with "discounts" for No Claims but then loaded with even greater increases for age, vehicle and convictions.
I have had nearly 50 years driving with only 1 claim, not my fault, many eons ago.
My wife has an even better record, yet because she now is 80 our premiums have risen astronomically despite our clean records.

Insurers seem determined to pick on us with good records in order to allow subsidies for those that SHOULD be paying high premiums for stupid driving.

[Indalo1]

I am amused by your description .

Well, if my musings bring a smile to anyone’s face, then my work here is done.

The esoteric nature of how car insurance premiums are determined continues to elude vast numbers of motorists and one stand-out mystery that befuddles me is the willy-nilly determination of a maximum NCB, varying from 9 years in some cases up to 20 years in others.

Regardless of any statistics in the case of an individual who may have 60 years+ driving experience with perhaps only one or two claims 50 years ago, other statistics are preferred by underwriters, based purely on age, so that premiums may be hiked on the basis of some arguable statistics gleaned from very narrow research. Such exponential increases are inherently unfair as there are many 70+ drivers who have decided to surrender their licence on the basis of economics, rather than any diminution of the physical attributes required to continue driving. Equally, there are seniors of 80 + running marathons in under 5 hours who retain remarkable cerebral attributes and are less risk behind the wheel of a car than a great many Generation X, Milennials & Generation Z drivers.

Possibly attributable to Benjamin Disraeli, the well-known phrase, ‘Lies, Damned Lies and Statistics!’ seems particularly appropriate in the context of car insurance.

[chrisdobb]

It's about time someone had a good hard look at the UK car insurance business.
How is it that every time my insurance becomes due I get a renewal notice from my current insurer which is eye watering, yet on the strength of one phone call they mysteriously find a discount that they are able to apply. This year, last week, reduction of £150, last year reducion of £175. This is a very well known insurer but they are clearly a bunch of crookes.

[alan sh]

I just got a quote to ugrade my insurance from a 2022 Ultimate to a 2025 Ultimate. How much? A refund of £11.49 to take it to the end of October (when it's due for renewal).

I'm not complaining.

Alan

[madowl]

I just got a quote to ugrade my insurance from a 2022 Ultimate to a 2025 Ultimate. How much? A refund of £11.49 to take it to the end of October (when it's due for renewal).

I'm not complaining.

Alan

Another baffling insurance quote. Mine insurance is due 1 march but renewed with same company (Aviva) 3 weeks ago. Premium went up £25 but was still less than any quotes on comparison sites by £39. Some insurance won't quote me even with excellent no claims record as I'm over 70.

[alan sh]

I'm over 70 too.