Quote:
Originally Posted by chav1
if you had an insurance company and you took on somone with previous accidents and points etc you would naturaly charge them more than somone who hasnt but when that person crashes again you put the expense of the payout onto customers who havnt had accidents or points
it would have been your risk in taking on this customer not mine so why should my policy go up , ime pretty sure if he didnt have an accident then you will be in proffit from him as he paid extra because of his driving history and would be very happy at your nice proffit but when it goes bad its us that pay
if payouts are such a problem then maybe insurance companies shoudl be asking questions of teh govenment as to why such ridiculous amounts of money get paid for minor injuries and not simply pass teh cost on to the innocent motorists, its just easier to get money from joe public than get the govenment to put limits on how much can be awarded for minor injuries
ime not sure but hasnt the maximum payout for whiplash been reduced , just somthing i heard so not sure but if true then maybe payouts on other other accident types should be capped to
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Yes a loading would normally be applied to the motorist who had adverse details like a Conviction/Accident.
You would not be saying that if you was unfortunate enough to have made a claim or two deemed as fault and you premium has only increased £50.
Example how a premium is worked out (only rough)
Base Figure - This is usuall rated on Postal Code & Vehicle group
Then loadings and discount apply Ie
Age Of Car Discount
Over Nite Parking
Age of Main Driver
Age Of Youngest Driver
Accidents
Annaul Mileage
Driving Restrction Discount
Convictions
Alram
No Claim Bonus
Then IPT (Insurance Premium Tax) 5%
Each Individual client is rated as just that an individual.
I agree the injury compensation is hurting the business, thing are happenening soon to try and come to some resolve.
An Idea of this is Quick Claim Settlement, you are injured instead of just a pay out they will provide medical treatment very soon at there cost to help you get better quicker and after care. ther fore hopefully reducing Compensation Payouts and still treating the injured person fairly.