45 replies to this topic

[antcole]

Easy to blame insurance companies but they are in business to make a profit for their shareholders. Just one driver having a serious accident (say a crash which puts your passenger in a wheel chair for the rest of his/her life) and the claim will be for several million. How many young drivers does a company have to insure to recover that sort of loss?

Young people have accidents. Fact of life and a perfectly natural result of enthusiasm and lack of experience. So, some of the very high quotes you are seeing are a polite way of saying "We would honestly prefer you to take your business elsewhere and let someone else pick up the bill"

Instead of ranting, shop around and see how you might be able to reduce your premium.

Bob

My gripe is fuelled out of frustration.
The young drivers of today are no different to the young drivers of several decades past, ok the volume of traffic has increased immensely and that is obviously going to raise the level of claims.... however.... that vastly increased volume of citizens owning cars also means a vastly increased revenue in insurance premiums.

Ive been driving for over 20 years and i can remember my first insurance premium in 1988 being easily afforded on an apprentice wage.....

Premiums are being paid every second of the day among 10+ million road users in the UK, so id say theyre making their money quite comfortably.... and some.....

Yes, younger drivers are likely to be more enthusiastic, more likely to take a risk or even likely to act foolishly...... but ive also seen many older, wiser and senior drivers making extremely dangerous manouvers, acting irresponsibly and dangerously too.

Everyones insurance has increased across the board but it is only because it can be 'justified' by blaming higher instances of uninsured driver cases, higher medical claims cases (be that fraudulent or genuine) and i dare say the writers like Lloyds etc have been stung by natural disaster claims globally....

I can understand a monumental premium for a high powered hot hatch with more horses than an inexperienced driver can control.... but were talking about a Mini 998 here with something like 40hp...... how can that demand a premium of up to 5 grand for christ sake.....

Theres no way around it but it just saddens me that a young, first time driver has to suffer such a massive financial outlay in order to get mobile and independant.

[Old Bob]

I have no arguement with the points you make, other than the profits which most motor insurers certainly aren't making.

Young drivers haven't changed - My own driving goes back a few years too (Drove my first Mini in '62, and had a 997 Cooper not long after) but now we are all faced with a situation where solicitors chase business, drivers are actively encouraged to make claims which are all too often spurious and the Courts are liable to make settlements which take into account the increased costs of care into the far future.

We are all paying for this in increased premiums but taken as a percentage of the whole, younger drivers are simply bad business.

Perhaps some form of Cooperative might work for this age group, but there is no easy solution.

Bob

[MiniLuke]

Easy to blame insurance companies but they are in business to make a profit for their shareholders. Just one driver having a serious accident (say a crash which puts your passenger in a wheel chair for the rest of his/her life) and the claim will be for several million. How many young drivers does a company have to insure to recover that sort of loss?

Young people have accidents. Fact of life and a perfectly natural result of enthusiasm and lack of experience. So, some of the very high quotes you are seeing are a polite way of saying "We would honestly prefer you to take your business elsewhere and let someone else pick up the bill"

Instead of ranting, shop around and see how you might be able to reduce your premium.

Bob

My gripe is fuelled out of frustration.
The young drivers of today are no different to the young drivers of several decades past, ok the volume of traffic has increased immensely and that is obviously going to raise the level of claims.... however.... that vastly increased volume of citizens owning cars also means a vastly increased revenue in insurance premiums.

Ive been driving for over 20 years and i can remember my first insurance premium in 1988 being easily afforded on an apprentice wage.....

Premiums are being paid every second of the day among 10+ million road users in the UK, so id say theyre making their money quite comfortably.... and some.....

Yes, younger drivers are likely to be more enthusiastic, more likely to take a risk or even likely to act foolishly...... but ive also seen many older, wiser and senior drivers making extremely dangerous manouvers, acting irresponsibly and dangerously too.

Everyones insurance has increased across the board but it is only because it can be 'justified' by blaming higher instances of uninsured driver cases, higher medical claims cases (be that fraudulent or genuine) and i dare say the writers like Lloyds etc have been stung by natural disaster claims globally....

I can understand a monumental premium for a high powered hot hatch with more horses than an inexperienced driver can control.... but were talking about a Mini 998 here with something like 40hp...... how can that demand a premium of up to 5 grand for christ sake.....

Theres no way around it but it just saddens me that a young, first time driver has to suffer such a massive financial outlay in order to get mobile and independant.

It doesn't really matter if you kill someone in a mini 998 or a high powered car, the claims will be high either way. Facts are young inexperienced drivers are more likely to have a claim in any one year.

I don't really know what those on here really want from the insurance companies, It is a free market in the insurance industry so if it was worthwhile to charge less and gain lots of young new drivers as customers, someone would.

[AVV IT]

The young drivers of today are no different to the young drivers of several decades past,

I don't agree, society has changed massively over the last twenty years & so too has the values of younger people. That's not a just massive generalisation, or a criticism aimed at young people either, it's simply a symptom of the rapidly evolving society around us. Rightly or wrongly, we now live in a fast paced, throw away, consumer society, where there is little fear of authority, law or the consequences of wrong doing any more.

Young people have grown up in this fast changing society and you would be very naive to think that their value systems and their approach to rules, regulations and danger hasn't been affected by it. That's not to say that all people under the age of twenty five are reckless, irresponsible, idiots by any means, it's just recognising that the world around us and our approach to it has changed significantly since the previous generation. It therefore stands to reason that this change in attitude and values is likely to be reflected in the driving styles of the new generation.

Of course there will always be reckless and irresponsible fifty year olds behind the wheel, in the same way that there will always be overly sensible and dull seventeen year olds. But insurance is based on statistical risk and like it or not, a seventeen year old is statistically far more likely to have an accident than an older more experienced driver and that accident is far more likely to be of a serious nature and therefore involve a large claim and settlement. The risks of insuring a young driver therefore just continue to multiply upwards and upwards for the insurer, as do the premiums they have to charge young people in order for them to be able to afford to provide cover.

I actually envisage a time in the not so distant future when young people will either be completely out priced of the insurance market, or insurers will simply refuse to provide cover below a certain age. Coupled with the endlessly escalating price of fuel, I do wonder if that is what it will actually take to make society change it's utter reliance on the private motor car.

[MaxAndPaddy]

.....I didnt read all of AVV IT'S post I started to get sleepy

I totally understand the frustration of the younger drivers and the costs involved because at your age I would of felt the same, having said that our eldest (22) is just taking driving lessons and the thought of him driving already fills me with dread, then theres the 15 year old who is already saving up for his first car - a mini - and I personally will be running for cover whenever he is behind the wheel

This isnt a generalisation (ok it is) but I wouldnt of put ME in charge of a car at 17... I was a complete liability and as AVV IT waffled on times HAVE CHANGED ...STANDARDS HAVE DROPPED.....and the thought of SOME teenagers on the road scares me to death

If I was an insurance broker I'd charge a fortune!!!

I'm now going to sit back and let you 'young uns' throw veg and stuff at me

[AVV IT]

.....I didnt read all of AVV IT'S post I started to get sleepy

Mister Paddy your remarks are almost as predictable as the inevitable presence of my drearily long and waffling posts!!!

......Now this old git is off to find some rotting turnips and cabbages to hurl in your direction!!

[antcole]

Have a look at this article -
http://www.dailymail...king-truth.html

Be under no illusion..... theyre making money hand over fist.

Its a free market for sure, but its a very profitable industry.....

[MaxAndPaddy]

.....I didnt read all of AVV IT'S post I started to get sleepy

Mister Paddy your remarks are almost as predictable as the inevitable presence of my drearily long and waffling posts!!!

......Now this old git is off to find some rotting turnips and cabbages to hurl in your direction!!

Hurl away old man...bet you miss!!

I'm lightening fast (fall over alot)

[mini-luke]

Off to get some rotten veg

[antcole]

Not so long ago, there were policies aimed at helping new drivers by allowing them to build no claims based on a 6 montly review basis.
I know times are changing and profits need to be made to survive the economic downturn... granted, but the average 17yr old is faced with either becoming financially shagged before they even try to start their adult life or leave driving until they reach a certain age..... which then means they have zero track record and are basically still at square one....

17 years old, driving, gaining skill and experience or waiting until 21+ but still starting with zero track record and no skill or driving experience.... catch 22.

The system is flawed and isnt going to price its self out of existence because people NEED cars for everyday life in the 21st century.
Just like fuel prices, they increase unrealistically year on year.... but people still pay the prices because they NEED to have a motor vehicle to necessitate normal everyday life.

Extortion and exploitation is the name of the game.

Nothing anyone can do about it but suffer and bend over, drop trousers, adopt the position and take it like a goodun.

[DanSeal91]

Not so long ago, there were policies aimed at helping new drivers by allowing them to build no claims based on a 6 montly review basis.
I know times are changing and profits need to be made to survive the economic downturn... granted, but the average 17yr old is faced with either becoming financially shagged before they even try to start their adult life or leave driving until they reach a certain age..... which then means they have zero track record and are basically still at square one....

17 years old, driving, gaining skill and experience or waiting until 21+ but still starting with zero track record and no skill or driving experience.... catch 22.

The system is flawed and isnt going to price its self out of existence because people NEED cars for everyday life in the 21st century.
Just like fuel prices, they increase unrealistically year on year.... but people still pay the prices because they NEED to have a motor vehicle to necessitate normal everyday life.

Extortion and exploitation is the name of the game.

Nothing anyone can do about it but suffer and bend over, drop trousers, adopt the position and take it like a goodun.

Summed it up with 2 words in the last post...

Exploitation, and extortion...!

[AVV IT]

Have a look at this article -
http://www.dailymail...king-truth.html

Be under no illusion..... theyre making money hand over fist.

Pah!! ...I'm sorry but as someone who downright refuses to believe any of the propagandarous, short sighted, bigotry that's gets churned out by the Daily Mail, then to me that article isn't even worth the paper that it isn't actually written on!!

In fact it would probably have more credibility if it had been printed in the Daily Sport instead!! ..... that way it would have at least been accompanied by a picture of a young lady with a nice pair of "norks"!!

[antcole]

Have a look at this article -
http://www.dailymail...king-truth.html

Be under no illusion..... theyre making money hand over fist.

Pah!! ...I'm sorry but as someone who downright refuses to believe any of the propagandarous, short sighted, bigotry that's gets churned out by the Daily Mail, then to me that article isn't even worth the paper that it isn't actually written on!!

In fact it would probably have more credibility if it had been printed in the Daily Sport instead!! ..... that way it would have at least been accompanied by a picture of a young lady with a nice pair of "norks"!!

Are you an insurance broker by any chance....

Credible or not, the fact remains that insurance is a very lucrative industry... it doesnt take much googling to find a complaint or a question as to the scruples of the insurance industry.
As ive already said, theres nothing we can do to change the system so its just got to be accepted and lived with.

[mini-luke]

As ive already said, theres nothing we can do to change the system so its just got to be accepted and lived with.

I quite like the look of the Canadian system, but it'll never happen here.

[AVV IT]

Are you an insurance broker by any chance....

Credible or not, the fact remains that insurance is a very lucrative industry... it doesnt take much googling to find a complaint or a question as to the scruples of the insurance industry.

Actually No I'm not, I'm just someone who tries to keep an open mind and reach my own conclusions by considering the available evidence, as opposed to just believing all the media hype.

......and if you honestly think that how long it takes you to google a given subject should be taken as any kind of guide to it's basis in truth, then maybe you should have a look through the 3 milion plus hits you get if you google "Proof Elvis is Alive"!!