insurance renewal

[Belker]

So it’s better to go 3rd party then? Does that still cover repairs to the other car? Is there no benefit to fully comp then?

I asked a similar question here a while back.

Belker posted a good reply...

"As Ken notes there are many variables. However, insurance firms never reveal formulae used to dream up quotes, they always say quotes are based on individual circumstances hence they may differ wildly even in circumstances that appear quite similar. In reality you will have to wait until you get your quote but there are a few factors we can ascertain from various drivers' experiences.

The premium will be calculated as a base figure + x% loading for claims + y% loading for penalty points - z% NCD. Loading % (x and to a lesser extent y) vary depending on "circumstances" but it seems that a much higher % will apply to x if you have NCD protection or if step back NCD applies, essentially the % used will negate any perceived advantage attached to such "protections" - may seem fraudulent but it's all in accordance with the T&Cs attached to the policy.

Whether they have you by the testicles or not depends on the amount of the claim. Different firms have different limits for claims in the preceding 3/5 years for new quotes. Always try to shop around, all they can say is no.

As DM notes, if there's no personal injuries and you can reasonably conclude that none will materialise before the Statute of Limitations expires it could make sense to settle the claim yourself. Most insurance firms (probably all?) will afford you the opportunity to repay settled claims so you can assess the net cost/benefit when you receive your renewal notice/quote. This might seem like a strange or foolish thing to do given that you've already handed the thieving bastards four figures to for indemnity but, in reality, what you get for the small fortune is a worthless chit. In the event of a claim they'll get the whole lot back from you with interest one way or the other should you wish to continue trading."

See the full topic here; http://intaxi.org/forum/index.php?topic=9173.0

I chickened out in the end.  Most quotes for comrades seem to be around 2-2.5k & I'm in the middle of that.  My quote was exactly the same as last year so I stayed with comprehensive.  Hopefully getting a new(er) taxi next year so don't want any extra hassles dealing with insurance problems if they happen.

Don't know if I made the right decision or not but I can live with the monthly direct debit.

Still think they're money-grabbing b@stards 

The credit fer the above post was with Ratcatcher/Stephen and not Me.
But I did take his advice and dropped 650 off my premium by excluding the assumed Bonus Protection.

Mine last year came in at just under 2K, but I kept the 50Euro breakdown thing, it got me outta Hell twice over the years.

[john m]

Could it be a case of Penny wise Pound foolish .Rialto Driver had a knocka few weeks ago his fault .Rang his insurance to ask about his future premium and was told because he insured his NCB he should be ok but then the Broker said if he had no NCB insurance chances are he would not get a realistic quote and no other insurer would quote him .Think NCB insurance is blackmail but for the price of a pack of smokes a week why take the chance .Unlike workers on an hourly rate and limited hours we can cover the ransome .Have heard stories of drivers after a bang being quoted 10K +on renewal .You were a bookie do you like the odds your betting SP in an unknown race .

  Dont take this as offensive as it definitly applies to me .My physical health is not great my mental health is suspect and I think some of these traits might apply to some others on here .NCB insurance equates to Job Insurance where else could we get employment .

[Tony]

Got mine 2.2 brick.   . No one else will quote me and if I want to change it to private it will be quoted as new insurance but still waiting for a callback from Axa wobbers

I thought they are legally required to give you a quote no matter how unreasonable it is?

[Belker]

.......You were a bookie do you like the odds your betting SP in an unknown race .

I do like the S.P. odds, fer me it seems like a better gamble that paying a Monkee + fer seemingly Nothing !

[john m]

.......You were a bookie do you like the odds your betting SP in an unknown race .

I do like the S.P. odds, fer me it seems like a better gamble that paying a Monkee + fer seemingly Nothing !

Your insuring your job with no NCB and a claim you might be priced on to your sofa .Your Plumber or Electrician has to insure his job as well as his motor .Its just our job insurance is linked to our driving ability .

[Belker]

.........NCB insurance equates to Job Insurance where else could we get employment .

No ! It does Not, it's a Gimmick !
See Stephen's earlier post.

[dalymount]

Ken in the past you have said you pay 50 breakdown cover. I was always puzzled by that , because I'm driving a long time now, both private before taxi, and I have NEVER had a policy that breakdown cover was not free

[Tony]

Ken in the past you have said you pay 50 breakdown cover. I was always puzzled by that , because I'm driving a long time now, both private before taxi, and I have NEVER had a policy that breakdown cover was not free

Yeah but your not a superhero bootlegger like our ken.

[stonethecrows]

Ken in the past you have said you pay 50 breakdown cover. I was always puzzled by that , because I'm driving a long time now, both private before taxi, and I have NEVER had a policy that breakdown cover was not free

Yeah but your not a superhero bootlegger like our ken.

Or he may be bringing Donut's to the Insc. crowd as well 

[dalymount]

Am I wrong in saying breakdown cover is applicable with nearly every policy FREE OF CHARGE

[mercenary for hire]

You can remove it and get a few quid off with AXA.There's nothing free with any insurance policy.If your getting something 'free' it's been factored into your premium.

Out off all the policies that have free breakdown they all get charged probably 50 on each policy.Out of them maybe only 5% actually break down.Still making a tidy profit for the insurance even if the tow truck costs €150.The lads working in insurance would run rings around the lads running Paddy power.

[Rat Catcher]

I'm not sure it was "advice" as such, Ken. I merely gave the facts based on knowledge of several drivers' experiences. I actually bought NCD myself at last renewal, albeit reluctantly... kinda thought not giving them the 700 odd notes would be tempting fate. However, I would advise getting a TPFT quote when you car ages a bit. The savings can be substantial and you have to bear in mind that the motor is only insured for it's Open Market Value regardless of any value you specify at renewal... the value you give only acts as a cap on it's insured value.

[mercenary for hire]

Anyone know where they pulled this NCD protection from?Is it something from another country or did it exsist 20 years ago?It seems very very make uppy.

[Tony]

There's a section on my policy thats says my police doesn't cover me in or around airports, airfield or aerodrome or military facilities.

Guess i have to fuck them out at the roundybout now.

[Rat Catcher]

What firm is that, Tony?