Insurance Price

[volxstu]

No Jailbait would be 15

 

[CFREITAS]

No they don't. Its a well knows fact that gender is a key rating factor, that is until 21st December when gender neutral pricing comes into force

Does this mean us bloke insurance will get cheaper, or ladies will have to fork out alot more, because im sick and tire of the women getting treated differently.

Yesterday i tried a lil experement, i rang and isurance company and got a quote for my mum
Fiat coupe 20v TURBO
passed test yesterday
43yr old
0 NCB

£650

This morning i rang again and got a quote for ME
Fiat coupe 20v TURBO
passed test Nov 2010
21 yrs old
2NCB

£8900


Does anyone think this is Fair

 

[Most Easterly Pandas]

Does this mean us bloke insurance will get cheaper, or ladies will have to fork out alot more, because im sick and tire of the women getting treated differently.

It will depend upon the insurance company and how they'll rate the risk. With some womens may increase, others mens may decrease and others will depend a lot upon the vehicle.

The quotes you've had for the coupe are more than fair enough, you'll find a lot more 20 somethings smash them up then 40 somethings do, regardless of experience. Were the quotes both with the same insurance company?

 

[dombooth]

Just out of curiosity I've done a gocompare quote for me on my car;

Mr: £1,505.20 - Elephant

Miss: This insurer could not provide a quote for your details. - Elephant
Miss: £952.39 - Hastings.

:bang:

Dom

 

[CFREITAS]

The quotes you've had for the coupe are more than fair enough, you'll find a lot more 20 somethings smash them up then 40 somethings do, regardless of experience. Were the quotes both with the same insurance company?

I dont think that my mum with no experience can handle 220BHP better than me .

 

[Most Easterly Pandas]

I dont think that my mum with no experience can handle 220BHP better than me .

But it doesn't matter what you think ultimately, its what past claims history and statistics state.

9/10 of new young drivers think their driving is the bees knees, but thats not what statistics say

 

[homeward]

Does this mean us bloke insurance will get cheaper, or ladies will have to fork out alot more...

Does anyone think this is Fair

Fair or not, I don't understand the new law (see this Guardian article) about not discriminating on gender at all, I'm afraid. All insurance is (or should be) based on statistics, processed by actuaries (if not, nowadays, computers...) -- not the imposition of a centralized government.... Therefore, if a certain sector of the population (whether based on age or gender, or number of heads...) is statistically safer than another, it makes sense for the insurance companies to price accordingly, in my humble opinion (precisely because it is impossible to calculate risk on an individualized basis... -- which would equate to betting on a horse because it had "a lovely name"/you'd stuck a pin randomly in today's race listings...).

As my partner has just asked: What would happen if the insurers weren't allowed to discriminate on age...?

[And, no, I'm not saying all young drivers are bad; that all young male drivers are reckless speed demons. I had one accident -- not my fault -- between when I started driving, at the age of 20, and the one that shredded my neck (again, not my fault -- indeed, caused by a doddery octogenarian in a faulty car...), when I was 35. And my son -- who is now 22 -- has driven since turning 17, and never been in an accident....]

Having worked for a firm of actuaries (albeit in internal communication), I understand that there are many, many factors to be taken into account when deciding on insurance policies, etc.... -- but this just seems yet another blatant attempt to impose something on an already cash-strapped populace to meet popular pre/misconceptions. [Which would strike me as amusing: were it not for the fact that this is being introduced by a government that screams about the supposed power of market forces and pricing....]

PS: Yes, I'm male; and yes, a bit of a feminist....

PPS: If anyone wants to moan about unfairness in motor insurance, then this, surely, must make your blood boil...?

 

[homeward]

From today's Guardian:

Women's car insurance leaps 15% in six weeks
The best price a woman can typically get for her car insurance has jumped by £114, or 15%, since November, as insurers prepare to comply with European "gender-neutral" rules from next week, according to a price comparison website.

The cheapest quote being offered to women is £862 on average; six weeks ago the best price was about £748, according to Gocompare.com, which analysed car insurance quotes made for women of all ages. The site, which monitored more than 10m quotes since January 2011, said it was the biggest shift it had seen in premiums.​

 

[ChrisUK]

A female colleague got a quote on my Coupe 20VT and got a price of £2000 . I pay £890 (I'm only a year older).

 

[jrkitching]

I dont think that my mum with no experience can handle 220BHP better than me .

Neither do I.

But the important difference is that your Mum is more likely to be realistic about her personal limitations and will almost certainly drive within them. You only need to be able to handle 220BHP if you press the pedal to the floor and let the revs rise, which your Mum is (statistically speaking) much less likely to do.