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      12-04-2015, 05:02 AM   #1
Mrklaw
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why does my insurance go up if I have a 'no fault' claim?

Just doing my wife's insurance and missed out adding a bump she had a few years back, so I went back and amended the policy. It was a no fault claim and the other party paid for all work. But it made the insurance go up by £20. Why? Surely they can't say my wife is an increased risk when it was someone else driving into her. They also didn't cut her NCD, that remained the same.
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      12-04-2015, 05:20 AM   #2
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Didn't you see Watchdog on the TV last night?

It's all about risks & algorithms that the insurance industry use to fuck us all over.

Oh & IP tax has gone up from 6 - 9% from last month iirc
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      12-04-2015, 05:24 AM   #3
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It may seem unfair but statistics do not lie.

Think of this scenario: My old dad gets his immaculate Golf out of his locked garage a few times a week and potters down to the bowls club or perhaps the local shop and then drives home and locks it up again. My usage is somewhat different, my car is often parked on the road and very often left in the pub carpark overnight as I walk down with the dog in the morning to pick it up. One night someone reversed into it and left details (it's a locals pub) and all was fixed via his insurance. Come renewal though, my premium went up.

However, given the two usage scenarios I have depicted, who is more likely of the two of us to have some no fault claim?

There was nothing I could do and I did nothing wrong but statistically I'm more likely to have some sort of no-fault claim because of the usage. Insurance companies will load for anything and that's a perfect example of how actuarial tables help them assess risk.
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      12-04-2015, 05:51 AM   #4
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Quote:
Originally Posted by xenon View Post
It may seem unfair but statistics do not lie.

Think of this scenario: My old dad gets his immaculate Golf out of his locked garage a few times a week and potters down to the bowls club or perhaps the local shop and then drives home and locks it up again. My usage is somewhat different, my car is often parked on the road and very often left in the pub carpark overnight as I walk down with the dog in the morning to pick it up. One night someone reversed into it and left details (it's a locals pub) and all was fixed via his insurance. Come renewal though, my premium went up.
I understand that the risk is calculated by actuaries, but not sure your example is the best to illustrate that.

In your example, your dad has some factors that directly alter his insurance/risk more directly : he garages his car rather than parking on the street, and he does few miles a year.

Now, for arguments sake, say I also live in your street with the same car, employment and age and my car is parked next to yours. Drunken un-insured white van man barrels down our road late at night - missing your car but bining his transit into my car. No fault accident, but according to the insurance company I am now more risky to insure than you?

It seems to me as crazy as saying you were hit by lightning, so are more likely to be hit again. In statisics you will have EXACTLY the same risk as before (F. ALL).

I think rather the insurance companies thought that in all the cases where there are 2 parties, why not load the no fault insurer to recoup more cash? Easy money. More about making money than acturial statistics I get the impression. I suppose they will spend more time working out how much to squeeze the no-fault party without rocking the boat too much.

D.
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      12-04-2015, 06:27 AM   #5
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Yes you're right of course, Dave - in the hypothetical situation you describe then there is no increased risk but in the situation between me and dad we probably describe the same scenario to our insurers. I do garage my car and I do less than 8000 miles but my car is still exposed to more risk because I don't promise to garage it every single night, sometimes it's at the pub but they don't specifically ask that.

In the end of course, they don't need much excuse to hike premiums.
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      12-04-2015, 06:44 AM   #6
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In the space of a year I had two women hit me (in my bright red car) whilst I was sat stationary in traffic.

Absolutely the worst way to have your premium bumped up
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      12-04-2015, 03:01 PM   #7
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It's all on statistics

Wife had a no fault bump mine went up,£90. Sons by £400. But hers didn't !

Similarly cheaper for fat kid 1 to park his st3 on the road

Cheaper for me on a 335xd rather than a 330xd.

All down to weird statistics.

And of course adding in the equation of we will bend you over if we can.
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