Best Cost Car Insurance

What is the fairest way for companies to calculate the cost of car insurance?

Public Comments

1. Probably by a good history check.
2. insurance is a business there is nothing fair about it.they calculate on a myriad of things,youth(age),engine size,spares costs,accident black spot areas and anything else they can get away with to reduce costs and payouts.The scammers,who make false claims ,push up these costs,the penalty payments(ie--you pay the first 100--500)are a further imposition,you will never get a fair way,you are penalised for the behaviour of others whether you like it ,or not.
3. Well, do what Esure and Direct Line do and offer fair prices. They have a much better understanding of the driver rather than over-priced places like Norwich Union. Oh, and they don't use Yahoo Answers, a site for asking and sharing information as Spam advertising like Norwich Union.
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5. Underwriting 101. Find out how much it costs to pay claims based on statistical analysis. Add on advertising/ commission/ expenses. Add on a reasonable profit margin Include a factor in case of unexpectedly bad results And you work for an insurance company!!!!! Mind you most companies don't seem to obey these rules as they are all losing money selling car insurance! Other fair ways are not to mislead customers by using the name of a company that offers excellent policies by adding on the word 'Direct' and selling cheaper grotty shitty policies.
6. Don't know why people have given Marky a thumbs down - that was you I guess Doug! Obviously Norwich Union do not know how to calculate car insurance in a fair way - otherwise you wouldn't be asking this question! I'd have a word with your colleagues at Direct Line, e-sure, Liverpool Victoria - all of whom can beat Norwich Union's quote.
7. I think it should be a flat rate for all new drivers, regardless of gender or location. If you have an accident then it goes up, If you dont, it goes down. What really gets to people is that Ive been driving nearly 4 years and pay £900. Whereas my girlfriend would pay less then £400 on the same car and she passed a few months ago. Ive never had an accident or been in trouble so why is it that I pay so much despite proving myself? Thats whats wrong with insurance. Women are just as dangerous on the road. I say give a set rate for a certain car and engine size. Then judge each individual driver, not by sex or age, or experience, but by how many accidents they have or points on their licence. Then depending on the driving behaviour over time, increase the costs or lower them. That way people like me who are competant drivers and have done extra training dont get stung for others mistakes or for what I have between my legs. Which would be illegal in everyother part of society.
8. Hello Doug., The Car insurance companies are overloading my television with Cheaper Car Insurance advertising,??? very questionable to me and my fellow drivers too,( well, some of them anyway) I am a retired TRUCK DRIVER WITH 42 YEARS ACCIDENT FREE DRIVING ALL OVER THE UK and EUROPE. The cost of my Car insurance for a mediaum family car has never once been reduced by my insurance companies, it has only EVER been increased on a every year basis, So I have to shop around every year, and the Norwich Union is one of the most expensive Insurance Companies in the UK. I have insurance from a good UK based insurance company now, and for the first time in 45 years on the road, I also got a 'Loyalty Discount', for staying with them again for the third year, which meant I actually did pay them less this year than I did three years ago, when I first took out a fully comprehensive policy with them. I have assured them of my continued Loyalty next June, when I renew my Car policy, and I am happy to stay with them, I have shown my policy to Friends and, some of them, have taken out policies with the Company I use... Doug, I think you are going to have to start researching your clients better than you do, and consider some new aspects in your companys methods of pricing and let the police take the 'non-insured' to court and make the none-insured pay in full, for the damage they cause by being on the roads without cover, the cost of insurance, is much too high, and the diffuiculty in making a claim isn't as simple as you all make it seem, in your TV and Press advertising. I see your question as a method of looking for free advice as to what it is we, the countrys drivers seek, in obtaining a FAIR DEAL. Ok SO THIS WEB-SITE IS A FREE SERVICE, please use some of the money your company would save by using it to begin drastically reducing your companys pricing...Good Luck in your research Doug....From an accident free Driver, of 45 years experience, in defending my car and my family from accidents, by just Driving, DEFENSIVELY ...Tony M..