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Is Your Car Insurance Too High On Your Ford? - Here Is Why - Bbc News / Competition Commission

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#1 FOCA

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Posted 17 December 2013 - 08:27 AM

Latest news from the BBC -

 

For various reasons insurance is too high (tell us something we don't know:) -

 

http://www.bbc.co.uk...siness-25403673

 

Also, the price comparison sites charge insurance companies to use them, then insist they can not offer the same product at a lower price elsewhere.  



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#2 jeebowhite

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Posted 17 December 2013 - 09:16 AM

Its all utter twoddle. You look at the profits insurers make their shareholders and you can see why.

 

As for the final claim of

 

"The options include a cap on the cost of replacement vehicles," - is this not called the vehicles value?

 

"or making an insurer of the not-at-fault driver responsible for providing the replacement vehicle."

 

So then the not at fault driver ends up footing his own bill for some others actions.

 

Lets say that a repair claim costs £2500, and the car rental for this period is £500. Regardless of which insurance company pays this fee, the industry has paid £3000 in total, so this really wont make a damned bit of difference. Its basically the insurer of the fault driver trying to protect their profits.

 

And we wonder why so many people drive without insurance...



#3 mixmasterlooney

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Posted 19 December 2013 - 10:22 PM

I want to ad an important note to this I now have absolute proof beyond doubt insurance companies are using information from comparison sites against us.

Last night I pulled out a new policy with one call insurance, this morning I had an email saying they will not provide me with insurance cover, based on mis represented info provided by me stating I did not disclose a pending fault claim and different address

Now at first I was shocked and thought I became the victim of identity theft as I have never made a claim before nor have I ever used any other address since the day I passed my test it was shocking spend 2 hours back and forth contacting my previous insurance companies in a desperate attempt trying the find out if a claim had been made against me etc with no luck they all confirmed the same info yet one call insurance insisted I have a fault claim on record, they made out this was the police record (MID) my current insurer confirned no such info has been entered onto MID

After a lengthy phone call the girl on the phone got very annoyed with me and told me the other address and date of the claim, it turned out 6 months ago I did a "feel" quote using my partner parents address comparing the difference in price based on address only I also did several other quotes out of curiosity such as speeding fines and points including a accident at fault claim testing what the difference in prices were, today I was truly shocked to find out this info was used against me even though they were only quotes and none were ever submitted for a policy nor have I ever committed any of the offences it created a sort of record thats not on the police database (MID) but is on some insurance companies record.

Now I'm down as some sort of prat providibg duff information lol do not trust those comparison sites it will be used against you



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#4 jeebowhite

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Posted 20 December 2013 - 09:19 AM

Crikey Kurt!

 

I cant believe that they used that in that way!



#5 FOCA

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Posted 20 December 2013 - 11:10 AM

I want to ad an important note to this I now have absolute proof beyond doubt insurance companies are using information from comparison sites against us.

Last night I pulled out a new policy with one call insurance, this morning I had an email saying they will not provide me with insurance cover, based on mis represented info provided by me stating I did not disclose a pending fault claim and different address

Now at first I was shocked and thought I became the victim of identity theft as I have never made a claim before nor have I ever used any other address since the day I passed my test it was shocking spend 2 hours back and forth contacting my previous insurance companies in a desperate attempt trying the find out if a claim had been made against me etc with no luck they all confirmed the same info yet one call insurance insisted I have a fault claim on record, they made out this was the police record (MID) my current insurer confirned no such info has been entered onto MID

After a lengthy phone call the girl on the phone got very annoyed with me and told me the other address and date of the claim, it turned out 6 months ago I did a "feel" quote using my partner parents address comparing the difference in price based on address only I also did several other quotes out of curiosity such as speeding fines and points including a accident at fault claim testing what the difference in prices were, today I was truly shocked to find out this info was used against me even though they were only quotes and none were ever submitted for a policy nor have I ever committed any of the offences it created a sort of record thats not on the police database (MID) but is on some insurance companies record.

Now I'm down as some sort of prat providibg duff information lol do not trust those comparison sites it will be used against you



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So the insurance company misled/ lied to you

 

They must have a database/ blacklist, made up of unsubstantiated/ unconfirmed information/ rumors,allegations that the customer/ consumer has no access to, cannot refute/ defend against

 

You have done nothing wrong - it is the insurance companieis in the wrong, keeping a "blacklist" database like this, outside of the MID,

 

You are not a prat for finding out these things, and should not be persecuted for it, even a murderer is allowed to have their say in court, and is innocent untill proven guilty - by posting this you have become a consumer champion & campaigner

 

I thing everyone must be very careful incase these things used against you  

 

Did you give then you reg. no. or you real name when enquiring about your "feel" quote?  

  ,  



#6 Hyrule

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Posted 20 December 2013 - 01:27 PM

The whole market is geared towards inflated premiums for all. We pay for our premiums monthly or yearly, yet if we need to make a claim it takes a ridiculous amount of time to get things sorted and we are forced to use the insurers repairers who will 99% of time declare you car non-repairable (go figure). I think personally we should be allowed to take our cars to any repairers who will be able to do the work and our insurers should pay for it.

 

Price comparison sites have made the entire situation worse with the lure of the cheapest prices. 

 

It normally works out cheaper to go direct to the insurer's website. Also don't forget your bank & supermarket are more than likely doing car insurance now as well.

 

And never fall for auto renewal trick. 



#7 jeebowhite

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Posted 20 December 2013 - 03:59 PM

Everyone has every right to take the car to any garage they wish. The network if insurers have recommended garages who have "streamlined" (dont choke too hard!) the process and make it as quick as they can, however you can take it to any garage who will do the work, but it tends to take longer.



#8 mixmasterlooney

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Posted 20 December 2013 - 06:00 PM

So the insurance company misled/ lied to you

 

They must have a database/ blacklist, made up of unsubstantiated/ unconfirmed information/ rumors,allegations that the customer/ consumer has no access to, cannot refute/ defend against

 

You have done nothing wrong - it is the insurance companieis in the wrong, keeping a "blacklist" database like this, outside of the MID,

 

You are not a prat for finding out these things, and should not be persecuted for it, even a murderer is allowed to have their say in court, and is innocent untill proven guilty - by posting this you have become a consumer champion & campaigner

 

I thing everyone must be very careful incase these things used against you  

 

Did you give then you reg. no. or you real name when enquiring about your "feel" quote?  

  ,  

 

 

Indeed my real name and reg was used, they got all the info from google car insurance comparison where i did my online quote and applied for insurance (All info correct and true) thing is the info about different address and fault claim was something i done on moneysupermarket.com  few months ago.

 

I even provided them scanned copies of my drivers licence plus proof of NCB up to date confirming address, none the less the choice was made by the "underwriters" to not insure me and my car. I was really worried at first that i actually did something wrong or even illegal even considered i might have entered something incorrectly not knowing, only to find out the bs is purely based on some random quotes from money super market.

 

The other daft thing that happen is 1 month ago i enquired about price of my insurance for lowered suspended i spoke directly to the insurer over the phone and there was no price increase, however 1 month later after auto renewal i was checking online for up to date copy of my NCB only to stumble on the fact my insurer has added lowered suspension as a mod WITHOUT my consent and without telling me, of course i got on the phone and set things straight and the modification was taken off my policy

 

I was warned that in the event of a claim and i did have lowered suspension i would be in hot water, i laughed, because i do not have lowered suspension! yet the new policy stated i do, what a **** take



#9 Philf1

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Posted 21 December 2013 - 11:24 PM

Latest news from the BBC -

 

For various reasons insurance is too high (tell us something we don't know:) -

 

http://www.bbc.co.uk...siness-25403673

 

Also, the price comparison sites charge insurance companies to use them, then insist they can not offer the same product at a lower price elsewhere.  

 

So they can save us £8 a year, big flipping deal.

 

 

The whole market is geared towards inflated premiums for all. We pay for our premiums monthly or yearly, yet if we need to make a claim it takes a ridiculous amount of time to get things sorted

 

So true, someone ran into my sons car in February and he has only just received a partial settlement, the rest is going to court because they don't believe he lost money because he was off work for 2 days despite him getting a letter from the company director. They are a complete joke when it comes to paying out.




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