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Car insurance, why so expensive ? - 9/30/2008 7:12:12 AM

Aneirin

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Joined: 3/18/2006
From: Tamaris
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I am having a winge, I have just done a search for what is the cheapest car insurance I can find, for a car which is £200 to buy, a banger. Bearing in mind I have a full clean driving licence, held for over twenty years, with no accidents or convictions and I have been quoted a minimum of £180 for the absolute basic cover. That is nearly the cost of the car, and in this day and age I hear of so many people not bothering to buy car insurance, as very often it is more expensive than the car. Something has gone very wrong with the insurance system and with less and less people buying insurance, the resultant is everyone else gets to pay for claims made aginst uninsured drivers, there making insurance even more expensive, to the point where the once wealthier car owners might very well not buy insurance, as thet just cannot afford it, with everything else rising in price. This problem has in reality been created by the insurance market, perhaps another example of greed.

Oh, before you say, take public transport, well, for what it is in the UK, it is largely unreliable, uncomfortable and costly, £3.20 the fare to go six miles into town, a bit much don't you think. The system we have in this country is not for the long term, but get rich quick, the so called public services are there to rip us off, not provide a service.

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RE: Car insurance, why so expensive ? - 9/30/2008 7:16:49 AM

UncleNasty

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Joined: 3/20/2004
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I don't know about laws in the UK but across the pond we are required to have insurance. That pretty much sets up a rigged game full of corruption and self interest. So the answer is something along the lines of "They charge so much because they can."

Uncle Nasty

(in reply to Aneirin)

Post #: 2

RE: Car insurance, why so expensive ? - 9/30/2008 7:28:29 AM

LadyEllen

Posts: 10931
Joined: 6/30/2006
From: Stourport-England
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Thats a lot of money Aneirin, but its likely minimum charge. You wont get anything for the car even if you claim either.

I drive a Renault Megane worth about £3k, same driving profile as you - mine is about £300-00 fully comp. I'm thinking of switching to a Jag S type soon, an old one but not too old and about the same value - and the insurance is about the same, also fully comp.

What gets me is, its an offence to drive without insurance. All the cars in the UK are registered on a database and there's cameras everywhere. Direct Line insurance reckons there are a million uninsured drivers on our roads. I have trouble reconciling this.

E

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RE: Car insurance, why so expensive ? - 9/30/2008 7:35:01 AM

Aneirin

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Joined: 3/18/2006
From: Tamaris
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Yes, we are by law required to have an absolute minimum insurance of third party only, and it was that which I enquired a price for, only to find the vendors want the price of the car for the insurance. So the car is over ten years old, closer to twenty, but it is a diesel, not a turbo, but a bog standard dependable Peugeot diesel motor. It seems sod the history, for this car has a service history from new, so is a good deal if it were not for the highway robbers that are the insurance industry that a law abiding motorist has to use to stay within the law. My last car, a four year old ford focus was the same price to insure, I just cannot understand why the quotation was so expensive.

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Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

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RE: Car insurance, why so expensive ? - 9/30/2008 7:35:48 AM

slaveboyforyou

Posts: 3607
Joined: 1/6/2005
From: Arkansas, U.S.A.
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Not every state here requires car insurance, but most do. My state requires it, and I would have it even if it didn't. I pay a little less than $1,000 a year for liability coverage on my 1997 Nissan pickup with USAA. The blue book value on my truck is around $3,200, and I only paid $5,000 cash for it in 2002. Insurance may seem excessive, but you'll be glad you have it if you get into a fender-bender. I don't know about the UK, but we have lawyers here that make a good living from bleeding people of money in accidents. I had to fend off at least a dozen lawyers when I got rear-ended 12 years ago. The driver was an old man, and he didn't do any serious damage to my old Pontiac I was driving at the time. I had no injuries, and I accepted $200 for the damage to my bumper. I put the bumper on myself. It didn't stop the damn lawyers from calling me and insisting that I could milk the old man's insurance company for all it's worth. I am a decent fellow, so I told them to piss off. But not everyone is like me.

(in reply to Aneirin)

Post #: 5

RE: Car insurance, why so expensive ? - 9/30/2008 7:37:52 AM

Lordandmaster

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I don't know what car insurance is like in the UK, but in the US car insurance is expensive because accidents are expensive. I just had a fender-bender with a runaway driver that is going to cost the insurance company more than I've paid in premiums since I've been their customer. Companies don't survive if they don't make a profit.

(in reply to slaveboyforyou)

Post #: 6

RE: Car insurance, why so expensive ? - 9/30/2008 7:43:37 AM

marieToo

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From: Jersey
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I don't know what those numbers convert to in USD, but I was paying almost $900.00 per year in Northern NJ. Now that I'm in South NJ, I'm paying a little bit under $700.00. I'm the only driver who uses the car, and I have no history of moving violations. My car is about 6 years old and worth about 10k. I don't think there's any correlation with the value of the car and the cost of the insurance, unless I were to purchase "collision" insurance, which I do not.

In the US we are required to have car insurance. Driving without it is cause for some pretty stiff punishment, like having your license revoked.

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RE: Car insurance, why so expensive ? - 9/30/2008 7:49:26 AM

meatcleaver

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Very simply, insurance companies give no fault payouts for most accidents not involving personal injury even when someone is at fault. This means everybody ends up paying higher premiums and the insurance company saves money because it doesn't have to investigate whose fault the accident is.

< Message edited by meatcleaver -- 9/30/2008 7:50:32 AM >

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RE: Car insurance, why so expensive ? - 9/30/2008 8:17:05 AM

GreedyTop

Posts: 52100
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From: Savannah, GA
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omg, I love USAA!!!!! They can do NO WRONG, in my eyes...

Saying that.. after the unfortunate "houseguest from hell" incident (combined with having to have full coverage on the vehicle since I am making payments AND the fact that I've had to be late a few times) I have to pay almost $600.00 in full every 6 months now....

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RE: Car insurance, why so expensive ? - 9/30/2008 8:56:47 AM

slaveboyforyou

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From: Arkansas, U.S.A.
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Yep Greedy, USAA kicks ass. I have been with them since I was 16.

(in reply to GreedyTop)

Post #: 10

RE: Car insurance, why so expensive ? - 9/30/2008 9:05:25 AM

LadyEllen

Posts: 10931
Joined: 6/30/2006
From: Stourport-England
Status: offline

I asked my Saudi insurance consultant about your insurers GT

All he had to say about them was "death to the USAA!"

E

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In a test against the leading brand, 9 out of 10 participants couldnt tell the difference. Dumbasses.

(in reply to slaveboyforyou)

Post #: 11

RE: Car insurance, why so expensive ? - 9/30/2008 9:10:00 AM

GreedyTop

Posts: 52100
Joined: 5/2/2007
From: Savannah, GA
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LOL Lady E.. I've been with them almost 20 yrs.. they have never been anything but awesome.. if I need to change my payment due dates.. noproblem.. the last incident was not counted against me PERSONALLY (no points).. even when I totalled my last vehicle, my rates only went up by a fraction of a fraction. When I HAVE made claims, theyve been settled within a fortnight...

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Post #: 12

RE: Car insurance, why so expensive ? - 9/30/2008 10:54:39 AM

sub4hire

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In the states it depends on where you live. Here since we're in the midwest we just changed our insurance from Geico to Farm Bureau..we had to join up for other insurance reasons. So we had them quote us the exact same insurance.

Come to find out it was 700 a year cheaper. We have a classic truck that is running us 28 dollars a year.

My advice, just from my own experience. Check out the local companies. Stay away from the brokers. The states are filled with them.
Back when I was in college..I had Eastwood Insurance..it was a broker. I paid on it a few years. Work had me get a printout of my driving record and come to find out I had no drivers license at all for 3 years. Because I had no insurance it was suspended. Never was I late on a payment..I just never had insurance they embezzled all of my money from me.
Of course I complained to the insurance commissioner of the state but it was just another complaint to them. Never did get any of my money back.
Local companies won't make you pay an up front brokerage fee either.

(in reply to Aneirin)

Post #: 13

RE: Car insurance, why so expensive ? - 9/30/2008 11:15:05 AM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline

I just bought a new Lincoln MKS and I'm paying $1,080 per year on it but, I've never had an accident, no tickets, clean lisense.
I don't think insurance is "expensive" I think people's pay has been kept low by this wonderfull "global economy B.S.."
Working people should be making $30-$40 per hour by now if you factor it up from the 1980's.

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RE: Car insurance, why so expensive ? - 9/30/2008 1:18:25 PM

KatyLied

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Joined: 2/24/2005
From: Pennsylvania
Status: offline

Insurance is expensive until you have an unfortunate accident and need it. Just saying.

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RE: Car insurance, why so expensive ? - 9/30/2008 1:37:25 PM

Raechard

Posts: 3513
Joined: 3/10/2007
From: S.E. London U.K.
Status: offline

You are paying for all the accidents caused by uninsured drivers that is what they say.

My insurance costs £360 and that is for a car that is 7 years old with full no claims bonus, my postcode means I'll never get it cheaper than that probably.

My words of advice is to always get comprehensive cover not just fire and theft because if you have an accident that is your fault or if an uninsured driver hits you you'll not get anything back for damages caused. When I started out driving fire and theft was all I could afford, they give you no support when things go wrong, you have to do it all yourself and it takes over your life; there is no incentive for them to help you with your claim.

< Message edited by Raechard -- 9/30/2008 1:38:35 PM >

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RE: Car insurance, why so expensive ? - 9/30/2008 1:47:46 PM

NorthernGent

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Joined: 7/10/2006
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quote:

ORIGINAL: Aneirin

Oh, before you say, take public transport, well, for what it is in the UK, it is largely unreliable, uncomfortable and costly, £3.20 the fare to go six miles into town, a bit much don't you think. The system we have in this country is not for the long term, but get rich quick, the so called public services are there to rip us off, not provide a service.

'Suppose it depends where you live. Train/tram/bus are spot on in and around Manchester. I sold my car earlier this year...... nothing to do with the cost of insurance.......more to do with a car being a total pain in the arse......shopping for insurance quotes is like a slow, painful death and I'd got to the point where I thought fuck this.....'much prefer going to work on a train or bus and not having the hassle of servicing a piece of metal and associated rubber.........

Speaking of cost.....it costs me £80 to travel 65 miles a day for 25 days in a month to get to work by bus.......mind you, the fuckin' thing takes an hour and twenty minutes to get there so it ain't all tits and beer.....but you can read and listen to music....

Before I sold my car, the insurance cost wasn't bad at all.......

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RE: Car insurance, why so expensive ? - 9/30/2008 2:28:15 PM

tweedydaddy

Posts: 673
Joined: 9/1/2008
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Uninsured drivers in my area are rapidly becoming extinct. The Police in Merseyside are going around with a camera and computer link that screams out an alarm is any car passing is not on the database as having insurance, then follows a quick prosecution a huge fine, and penalty points and the car possibly being seized as well. Frankly, it serves them right, no insurance, they shouldn't be on the road.
When you think of how much an accident costs, the vehicle repairs alone, towing charges, hire cars, court costs, police time and other emergency vehicles, not to mention the personal injury claims, lawyers fees, medical bills, and the fact that the NHS now recover medical costs from your insurer, you would wonder how the hell they make a living at it.
I had an accident where a young lad, both on the mobile and having a full blown row with his girlfriend, rear ended the car behind, the car behind me at some speed, playing car snooker, the car he hit wrote my brand new Astra off, wrote off the Volkswagen Tuareg that hit me and wrote off his own car. Some fifty thousand pounds worth of cars. We all needed treatment and my Wife and I were off work for two months. My end came to about £22,000 when all was said and done. God knows what the total was, but at least he was insured.
I have always had motorcycles and the sting in that is that the insurance for them, even at my age and with a clean licence is way more than they are worth, but nothing to what it could cost me if I had an accident without it.
I genuinely feel for you that insurance is so damned expensive, but then so is everything else. Petrol has gone mental, oil costs twice as much and servicing costs are through the roof, it's probably just keeping pace. If it wasn't for my little perversions I would probably go mad.

But then, would I know if I had?

(in reply to Aneirin)

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RE: Car insurance, why so expensive ? - 9/30/2008 7:42:49 PM

OneMoreWaste

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Joined: 8/24/2008
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quote:

ORIGINAL: sub4hire
Come to find out it was 700 a year cheaper. We have a classic truck that is running us 28 dollars a year.

That's one of the strangest things about insurance, in my opinion... We had a Dodge Neon, compact car, small engine, light, modern, airbags, etc. etc. Liability-only insurance on it cost *more* than it did on my old Chrysler, which was 2 tons of thick steel, had 340 horsepower, drum brakes, and no seatbelts. Gotta love owning something so oddball that it falls off the actuarial tables

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RE: Car insurance, why so expensive ? - 9/30/2008 7:52:15 PM

GreedyTop

Posts: 52100
Joined: 5/2/2007
From: Savannah, GA
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when I moved from the 80 SIlverado (all steel, no airbags etc) into the saturn-from-hell (airbags, abs), my insurance dropped pretty noticably.

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polysnortatious
Supreme Goddess of Snark
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Post #: 20

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