Quote:
Originally Posted by Eric
There most definitely is an actuarial science, and insurance companies do base their rates on the tables produced by actuaries. That doesn't mean that they slavishly follow the tables to the exact tenth of a cent ... insurance companies are in the business of making money; so, they will charge what the customer is willing to pay. People choose a particular company based on more than price. Service is still important. And customers will stay with companies that give them good service. If this were not the case, then all would insure with the cheapest company.
By the way, is there any form of government insurance over there ... a couple of Canadian provinces have government insurance ... a driver must have basic insurance from the govt. ... it is included in the price of the plate ... insurance companies are, of course, opposed to this, as the provincial govt. will offer the lowest possible rate without haggling ... those who wish to have extra coverage, say, for example, a lower deductible, or, esp. in Saskatchewan, which still has quite a few gravel roads, insurance for the windsheild, can buy it from a private company.
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It seems that Canada has a more consistent approach to insurance than UK companies, then. My last car was a beat up little Punto, a runner that cost me £500 and was cheap to fill up yet my quotes ranged from £305 fully comprehensive to £2590 third party only which even made the broker on the phone snigger.
I'm 31 and statistically in England the most likely person to have a car accident is an under-25 male in a red car in Manchester. It's vaguely amusing to hear how many insurers think that Blackburn is too near to Manchester to be able to give me a better quote.
I am not trying to get away from the original point though and whoever it was who said that we should be trying to root out ALL bad drivers was spot on. Someone else also said that you are never going to stop accidents from happening, which is correct but we can try to prevent as many as possible.
I don't see the problem with re-testing the elderly at a set point and I also agree with much tougher penalties for young drivers who are responsible for accidents that were not due to mechanical failure or a proven medical incident at the wheel.