www.bbc.co.uk/news/business-11516195
"The insurance costs are being blamed on another surge in claims for injuries sustained in accidents."
"The AA blames lawyers for exacerbating the problem by taking a 40% cut of personal injury claims.
Similar to the words of a top cop yesterday who said that for every £1 paid out in compensation, the legal fees are £10.
I'm in the wrong job...
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what a rip off.
Us poor old motorist's are getting fleeced again.
Then in January VAT rises to 20% and an increased in duty on fuel.
Either way were screwed.
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Mine (with The co-operative Insurance) went up 11%.
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The AA also blames premium rises on ever-increasing personal injury awards.
Quoting from the story: "If you have an accident which leaves someone disabled, the claim can be up to £15m," said Simon Douglas, director of insurance at the AA.
Mr Douglas could have said up to £17.5m:
www.car4play.com/forum/post/index.htm?f=2&t=3147
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My increase was 10% - premium under £200 Comprehensive for 3 yr old Xtrail (owner not as young)
47% sounds like a Daily Mail Type headline!
I pay less for car insurance now than I did 15 years ago.
I pay less for house Insurance now than I did 15 years ago
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Oh, come on you lot, read the article. If this is a "Daily Mail" headline, we're a pack of "Sun" readers.
"Figures due to be published this week show premiums for 17 to 22-year-olds have risen by 47% in a year.
Young male drivers are paying the most, with the average of the three cheapest quotes they get being £2,457.
That is nearly double the premiums offered to young women, the motoring group said."
The AA's point about legal fees/ambulance chasers is well made, though.
If payouts increase, obviously costs rise.
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>>Mine (with The co-operative Insurance) went up 11%. <<
But doesn't that mean you get an extra divi?
I've been away a long time...
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Mine still gets cheaper every year, so I shall refrain from complaining.
Anyway, insurance is still a fraction of fuel costs for most people, so ill stick to watching the cost of petrol rather than insurance.
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My insurance premium comes down every year too, and always has done. Not once have I paid more at renewal time. On many occasions, my renewal quote from my existing insurer has increased over the last year's price, but 5 minutes on a comparison website has always ensured an unbroken downward trend in terms of what I actually pay. I hope it continues.
Stu makes a good point though. I spend the equivalent of my annual insurance premium at the fuel pumps every six weeks!!
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Mine has gone up by about 12% but thats only because I changed insurers. My old company put it up by 30% and I am worried if my new company goes bust it the next cheapest is 30% more.
I am not sutre I can afford to pay over £100 a month for a group 1 car. Its crazy.
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My insurance cost rose nearly 20% with Admiral, and they still gave the best price despite hours wading through online comparison sites. I'm 24 and pay approximately £600 for a 2003 Passat TDI. (Licence since 17, 3 years no claims, and no points or accident history).
TBH, it's absolutely no surprise at all that so many people drive without cover, and it's reached the point that I don't drive through places like Rusholme any more simply because I know that if I'm involved in an accident there's an excellent chance the driver will be uninsured.
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My by far cheapest quote was with Admiral too. They tend to specialise in higher risk people and they at the time we the only company willing to insure my dads Fiesta for two different drivers both for use of different busineses.
I am 28 and paying £750 (exluding monthly costs) for a group 1 Panda, again no points or accidents (touch wood). The only claim I have is for a smashed window but Admiral told me that dosn't really make any difference to the claim cost. Its accidents they worry about as injury costs are excessive.
I really wish I had trained as a lawyer now!
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>> I am 28 ..........
It's time you cut the apron strings and left home!
;-)
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"It's time you cut the apron strings and left home!"
Better still, kick your parents out since you're paying all the bills Rattle.
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Certainly not paying all the bills but I am paying a lot of them. There is no way I can afford to move out, the car alone costs me £250+ a month and on a bad month I can earn just double that (although I've not had a bad month for over a year). Its more the odd £200 here and there and the odd £100 for the MOT on the car etc. It is still cheaper for me to live at home and it helps my parents out.
I can come and go as I please, I live near the city centre so there is not really any element of cramping my style.
The only way i can move out is if I got a part time job, the part time job would have to pay well as there is a risk I would loose other work from it. I used to work in Currys part time in the end I cut down my hours to just one day a week. I worked from 10 till 4:30 and after tax would come out with £30 for it. I ended up loosing a couple of jobs and it just wasn't worth the while.
Last edited by: RattleandSmoke on Wed 13 Oct 10 at 13:41
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Rattle, you're just being mercenary. For me, cutting the apron strings was a matter of pride.
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>>Rattle, you're just being mercenary. For me, cutting the apron strings was a matter of pride<<
The opposite of pride is humility.
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E sure want £160 a year to insure my Group 1 car. But then BUPA want £160 a month to insure my health so one wins some and loses others!
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>> The AA's point about legal fees/ambulance chasers is well made, though.
>> If payouts increase, obviously costs rise.
And as the AA also said for every £100 premium the motor insurers currently take in they are paying out about £125 in claims which is obviously unsustainable as a business model. If just one motor insurer goes belly up we would all be in trouble - just look at Quinn's problems earler this year.
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The Quinn problem has already effected me, it was the cheapest followe by Admiral and then Directline. Since Quin have gone both DL and Admiral have put up their prices.
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>>But then BUPA want £160 a month to insure my health
An arm and a leg...
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...And as the AA also said for every £100 premium the motor insurers currently take in they are paying out about £125 in claims...
Ah, the old 'we're making a loss and doing you a favour by covering you at all' routine.
I don't have access to figures, but I cannot believe insurers do not make money out of car insurance, given the amount they spend on advertising to attract policyholders.
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40% of all personal injury claims apparently go to "no win no fee" lawyers..
That's why the number of law firms doing "no win etc" is increasing..And the personal injury claims are rising rapidly.
And of course the law was changed by Parliamnet which is full of ... lawyers..
Join the dots and work out why premiums are rising... someone has to pay their £200k a year salaries.
Last edited by: madf on Wed 13 Oct 10 at 19:12
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I wouldn't consider giving my business to anybody who employs a ludicrous twirly moustached opera singer in their adverts. He has managed to put me off the company AND opera! However I admit to quite liking that jowelled dog which I think was developed in house and is probably a lot cheaper to employ.
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Then said lawyer will start ranting at me how £20 is far too much to install a router. Then they wonder why I make my excuses next time they want me to work for them.
Meanwhile the poor check out worker from Morrisons is more than happy to pay me a decent rate.
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>Then said lawyer will start ranting at me how £20 is far too much to install a router.
Don't you charge for ranting time? Lawyers do.
Kevin...
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>> I cannot believe insurers do not make money out of car insurance, given the
>> amount they spend on advertising to attract policyholders.
The "insurer" is not the same as the underwriter.
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"47% rise in insurance premiums in a year" - diddy1234
