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Deleted member 294929
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Ealing with Rats today. I dont have time so you can get some sockets off!
BBC logic
- Thread starter Justin Passing
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Bl@@dy plumbers are training rats to create more work for them
How much commission are you paying them?
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Is Ealing infested with rats, are there many Audis
I've worked in insurance for best part of 25 years now.
The co's I worked for never priced on race/religion. There is no financial advantage for doing so. The pricing models of insurance companies are very sophisticated and take in hundreds of risk factors based on the quote details submitted and third-party sources of data (credit checks, postcode searches, etc).
These factors will assess the risk rating of the driver, usage, vehicle itself and the location of the insured/vehicle to come up with a price. If you live in an area where's a higher propensity for general crime, accidents or insurance fraud then you're going to pay more for your insurance.
I don't have the stats to back it up, but in my experience it's well known that certain parts of Birmingham and Bradford have higher rates of multi-person bodily injury incidents (whiplash claims), ghost brokers, uninsured drivers incidents, and other insurance fraud than the norm for a UK city...and hence it will be factored into the pricing of the area (irrespective of your age, race or religion).
Insurance is all about the pooling of risks. It used to be very simple and the pools were very broad - everyone paid similar prices for their insurance (going back a couple of decades). As data became more readily available, the risk pools became smaller and you pay a price that is much closer to the risk for the pool you find yourself in - for example, young drivers crash more, all young drivers pay more for insurance (even the good drivers).
The co's I worked for never priced on race/religion. There is no financial advantage for doing so. The pricing models of insurance companies are very sophisticated and take in hundreds of risk factors based on the quote details submitted and third-party sources of data (credit checks, postcode searches, etc).
These factors will assess the risk rating of the driver, usage, vehicle itself and the location of the insured/vehicle to come up with a price. If you live in an area where's a higher propensity for general crime, accidents or insurance fraud then you're going to pay more for your insurance.
I don't have the stats to back it up, but in my experience it's well known that certain parts of Birmingham and Bradford have higher rates of multi-person bodily injury incidents (whiplash claims), ghost brokers, uninsured drivers incidents, and other insurance fraud than the norm for a UK city...and hence it will be factored into the pricing of the area (irrespective of your age, race or religion).
Insurance is all about the pooling of risks. It used to be very simple and the pools were very broad - everyone paid similar prices for their insurance (going back a couple of decades). As data became more readily available, the risk pools became smaller and you pay a price that is much closer to the risk for the pool you find yourself in - for example, young drivers crash more, all young drivers pay more for insurance (even the good drivers).
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Deleted member 294929
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Deleted member 294929
I'm going to has a guess that my van parked in one of the most deprived towns (so its said) in the country will see me paying higher insurance than a black man living in Epping with a similar van.
Lots of thefts and break-ins of vans all the time round my way.
Epping is far wealthier with more BMWs than there are Vans. So less claims coming from Epping.
I would imagine. No I don't have any link's
Lots of thefts and break-ins of vans all the time round my way.
Epping is far wealthier with more BMWs than there are Vans. So less claims coming from Epping.
I would imagine. No I don't have any link's
That seems to apply in a number of cities and makes sense. Whiplash claims do not seem to have a racial aspect.
Anyway I have a feeling the BBC were reporting another report by some group or the other and in some ways objective achieved. An insurance body is going to look into the matter.
My beef with car insurance is recommended repairers and the body that dictates the cost of repairs related. A secondary one do you have a garage and what effect that has on premiums. Off road parking as well in some ways.The problem with whip lash and similar from car accidents is some seeing it as a way of people getting actual money in their pockets.
This has it's interesting aspects as well but there is probably no alternative.
A knock-for-knock agreement is an agreement between two insurance companies whereby, when both companies' policy-holders incur losses in the same insured event (usually a motor accident), each insurer pays the losses sustained by its own policy-holder regardless of who was responsible.
This has it's interesting aspects as well but there is probably no alternative.
A knock-for-knock agreement is an agreement between two insurance companies whereby, when both companies' policy-holders incur losses in the same insured event (usually a motor accident), each insurer pays the losses sustained by its own policy-holder regardless of who was responsible.
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quite logical and in line with modern practices. But BBS found some connection, or rather the author of this article. I think this is yet another proof that no matter how reliable the source is, you should filter everything. just think twice/
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Knock for knock has not been practiced for a number of years now. Most of the time the insurer of the non-at-fault motorist will extort as much money as they can from the at fault insurer…as the next time when the roles are reversed they other insurer will do the same.
50:50 claims are more frequently used where fault cannot be determined. Slightly different to knock for knock as the total cost of both parties is shared evenly between the insurers.
50:50 claims are more frequently used where fault cannot be determined. Slightly different to knock for knock as the total cost of both parties is shared evenly between the insurers.
Insurers must guarantee their repairs and use new OEM parts, hence the needed for approved repairers where cost of repairs are higher than a repairer that isn’t bound by those requirements.That seems to apply in a number of cities and makes sense. Whiplash claims do not seem to have a racial aspect.
Anyway I have a feeling the BBC were reporting another report by some group or the other and in some ways objective achieved. An insurance body is going to look into the matter.
A car kept off the street, or in a garage, will have less chance of damage or theft…so would be lower risk.
my guess is risk is higher in poorer areas, poorer areas have a higher percentage of ethnic minorities
so theres a correlation but as an industry expert as you point out its not the ethnic minorities that the insurers are increasing premiums for, its their risk
I have had a couple of claims where I refuse to use them based on going and looking at their standard of work. One a bump when I wasn't even in the car and another where some one tried to break in - works car park. The insurers thanked me for having the car removed from the car park rather than leaving it there. I had it moved and parked at home.
Both repairs were done with manufactures parts and at the cost that is agreed according to make model etc so the insurers couldn't argue with them. I do know a Direct Line repairer. Son of a mechanic I used for servicing. They are paid a bonus based on hours taken for the repair. Fine but when it comes to paint they use particular standards that can result in an obvious repair. One of the cars was relatively new but still needed a degree of blending in. That they don't do. The other was older where that will often be needed or polishing work etc. This before I knew the person who worked for Direct Line's repair service. I just went along and had a look at work they had done. Sometime blending in an accident repair is impossible but not so in my case.
I could go through a case, more recent where I did use the approved repairers. The work I saw was fine on a range of age of cars. LOL Then some would say I am someone that is always having repairs done. Not so.i have one but don't mention it. In my case it would be more difficult to use than off road and I doubt if my or many other cars would fit in it. Some newer builds have a similar problem and for other reasons lots don't park in their garage. Me I ignore the option as if there is a claim it might interfere with it. I'd do the same with one that is so full of stuff the car couldn't go in it,
Not a major point really. Just something that makes me wonder about having a garage and getting a premium reduction for it,
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