norwich union rant

[Steve]

I'm with Norwich union. I got my first car in jan 04. Nissan micra 1.0 H reg. Cost £800ish to insure 1st year. More than i paid for the car by more than double. I was 18, so i thought this was very good value, considering i was getting stupid quotes of £2000 from the likes of Tesco and Churchill.

Purchased a Fiat punto 1242cc on an 02 plate in october 04, when the micras gearbox gave up the ghost. Cost £3995 to buy. NU charged me £250ish until january, to upgrade to this car with fully comp insurance.

When renewal came, they said it would cost me £1050 or something for renewal. Anyhows, i got on the internet, and got looking for quotes. Getting figures like £1500 etc, so out of curiosity, I went on norwich union's site and got a figure of £850ish for fully comp again! Saying i get a 20% discount for buying online!!! so i bought it there and then. Read all the small print and couldnt see any reason why an existing customer could not get this deal.

Overall, im very happy with them. I'm not a chav, and dont hang around mac donalds. And i dont see why i should have to pay these stupid prices, when i am a safe and considerate driver, and my car's exhaust does not emit 100000000000dB of noise, and i have never made a claim.

 

[andy]

I'm with Norwich union. I got my first car in jan 04. Nissan micra 1.0 H reg. Cost £800ish to insure 1st year. More than i paid for the car by more than double. I was 18, so i thought this was very good value, considering i was getting stupid quotes of £2000 from the likes of Tesco and Churchill.

Purchased a Fiat punto 1242cc on an 02 plate in october 04, when the micras gearbox gave up the ghost. Cost £3995 to buy. NU charged me £250ish until january, to upgrade to this car with fully comp insurance.

When renewal came, they said it would cost me £1050 or something for renewal. Anyhows, i got on the internet, and got looking for quotes. Getting figures like £1500 etc, so out of curiosity, I went on norwich union's site and got a figure of £850ish for fully comp again! Saying i get a 20% discount for buying online!!! so i bought it there and then. Read all the small print and couldnt see any reason why an existing customer could not get this deal.

Overall, im very happy with them. I'm not a chav, and dont hang around mac donalds. And i dont see why i should have to pay these stupid prices, when i am a safe and considerate driver, and my car's exhaust does not emit 100000000000dB of noise, and i have never made a claim.

what i dont like about em is that there prices arent consistant and when you phone the call centre for quotes to change vehicle they 'guess' the prices

 

[pipme]

Nobody carries better statistics than insurance companies. The business survives or dies by getting 'risk' correctly valued. They do not provide a service as such but a business deal ... If they do not want you, they load the premium ...

Young drivers are traditionally known as high-risk drivers and have to pay extra premium. This is because based on statistics; young drivers are more likely to have claims. This is particularly true of male young drivers who it is said are encouraged to drive quickly in order to show off to their friends. Whilst this is not true of all young male drivers, it is of sufficient quantity to mean that as a demographic group, the claim costs for this group is higher.
The worst age group statistically are for the male teenagers. This group not only have a higher claims frequency but also have more expensive claims. Average loss ratios for insurers writing this business is 120%, which makes them a highly unattractive risk prospect.
The cars that younger drivers buy tend to be older and less well maintained due to financial pressures on this age group. This again contributes to higher accident frequency. A car that is poorly maintained is less likely to brake as well in the event of a claim; this leads to higher accident rations.
A factor that contributes to the higher average cost of a claim is that there is a lower than average car ownership within this category. The practical meaning of this is that when a person turned just 18 years old (particularly those still in education) has a car, he or she is likely to have to transport a number of his or her friends around. This is a particular concern to car insurance because of the possibility of over loading.
By far the most expensive aspect to car insurance claims is the personal injury aspect side; if there is a big accident with five passengers in a car then the accident is potentially five times more than with one passenger in the car. It is the passengers who are particularly important in that they are all considered third parties in the event of an accident. The driver has fairly limited compensation opportunities.
This question of passengers in the car can manifest itself in the over-loading of vehicles. An over loaded car is less stable than a car under-loaded. The suspension, braking and steering mechanisms of a car will struggle when a car is over loaded, thus increasing the risk.
Research shows that young drivers (in common with young people in general) are more likely to be out night near nightclubs. This presents the risk of vandalism in addition to the risks outlined above of overcrowding on the way home. A boisterous set of teenagers turned just 18 years olds on their way home from a nightclub are a much higher risk than the normal commuter who drives his car on his own to work and back every day.

Unfair? Tar and brushes? I guess the world is full of that and more.

This does not help the cause :- LINK

Cars are divided by insurers into 20 groups. The higher the group number, the higher the premium. The groups take account of factors such as the cost of body parts, the ease with which the car can be repaired, its value when new, its top speed, Its acceleration, and the degree of theft resistance. Sports and high performance cars are more expensive to insure because statistics show that they are involved in more accidents and also that repairs are more costly than with other types of cars. They are therefore given a higher group rating than, for example, a small low-powered saloon.

Are we not lucky? (Those of us not injured by such vehicles) That HMG allows these things on the road, given that they are statistically more likely to be involved in accidents which inevitably hurt people .. Oh well I guess the large motor manufacturers must be appeased and their profits maintained ... to the extent of protecting jobs ..

Recent report for DFT re: 'Young Driver Problem'

http://www.dft.gov.uk/stellent/groups/dft_rdsafety/documents/page/dft_rdsafety_508104.hcsp

I am making no statement .. just pointing to facts as I was required to learn at an early driving age.. We have, most of us, been there at some stage.

 

[andy]

The cars that younger drivers buy tend to be older and less well maintained due to financial pressures on this age group. This again contributes to higher accident frequency.

well we all know we'd have better, and therefore safer, cars if we didnt hve to spend thousands on insurance

 

[2scoops0406]

My god, I'm glad I'm old, > £1500 a year for car insurance I pay less than £150 for my clio.

 

[AdamW]

Now I'm 25 I've found I have hit a magical barrier for car insurance... I got a quote for an Astra VXR yesterday for "just" £750. It cost me almost £900 a year when I first got my 1.6 Astra, aged 21 with zero ncb (that the insurers would acknowledge, anyway)

The dealer doesn't have one for me to test-drive though... Mmmmmm, 240bhp fwd

 

[pipme]

Trouble with exciting different cars is this.
One buys to look the biz .. cavalier and all that, and it costs, but all that disappears as one spends half the time looking for vandalism dents, scratches and worse, then being over concerned about the well being of a huge pile of ten pound notes piled in a pleasant shape at the curb side gently losing bulk with time, weather and attendant salt gently wafting tenners into the blue yonder.
It is a funny old world .....