Car Insurance Companies

[FTBBCVoodoo]

6 minutes ago, Linas.P said:

But let's look into bright side... we are not forced to bank with any bank and pay thousands against our will. In the end of the day we can keep cash under the pillow and nobody can say anything!

Get the same interest rate if you keep it under your pillow as well 😉

[Linas.P]

In some countries even higher... I know accounts with negative interest and you still have to pay service fees! At such rate I may as well keep it under the pillow myself...

[Shahpor]

Can I just say well done to @Linas.P and @FTBBCVoodoo for pulling back from the brink and having some meaningful discussions. 👍

It looked like it was going the other way and would have ended up with one less person on the Linas Christmas card list 🙂

[Linas.P]

2 minutes ago, Shahpor said:

It looked like it was going the other way and would have ended up with one less person on the Linas Christmas card list 🙂

Are you saying I should have some sort of a list for Christmas? 😁

[royoftherovers]

16 minutes ago, Linas.P said:

But let's look into bright side... we are not forced to bank with any bank and pay thousands against our will. In the end of the day we can keep cash under the pillow and nobody can say anything!

Linas. One is not forced to sign up with any particular Insurance Company.

If you pay too much, then get older, move North, own a low risk car, have a second driver on the policy, move to a less risky Postcode.....and enjoy life.

Your Banking responsibilities can be discharged satisfactorily from a Crofter`s Cottage in the Hebrides !

I do NOT require a response.

[Linas.P]

No I still don't think it is comparable... Bank does no care how old, young you are, or where you live, does not care if you alone, have kids or family and most importantly if you choose not to have account you won't get fined. It is truly free market and free choice. Sure if you want loan, then it is different story.. but you are not required to take loan by law either. 

And I know you are joking, but person obviously cannot just become older, not everyone can just move "north". But the key difference is that one is required to have insurance by law, but not required to have bank account...

[Sundance]

44 minutes ago, royoftherovers said:

I do NOT require a response.

Haha, fat chance ... not on here John! 😂

[Phil xxkr]

2 hours ago, royoftherovers said:

"does not apply to Banks"

Is that your view Phil or the Author`s ?

I admit full responsibility 😎

[Sundance]

I think that we must all accept by now that insurance is a legalised protection racket supposedly run by professionals who organise their own random risk assessment to make the most profit whilst using contractual 'small print' to offset the risk of significant losses. 🙂

Many say it's a con and they're not far wrong, but the one thing that it does serve is to protect an innocent party from financial loss that they could otherwise not afford. 😉

Banks are shysters, pure and simple, legalised loan sharks but just make sure you pay them nothing to look after your own money. 🙂

[Linas.P]

My only reservation about above - innocent party may end-up loosing more money than they get from compensation.

And here I am talking from personal experience - over 8 years I have insurance in UK I have paid £11300 for insurance, 3-non fault accidents... averaging £380 for repair (insurance estimates were ~3k, but that has nothing to do with reality), all 3 times it was scratch on the bumper.

Now it is hard to say by how much the accident increased my insurance, but I know that when I got RC200t and got quote for £800, it was later adjusted to £1400 when insurance figured out I had non-fault accidents and were quite upset for me not telling it, despite comparison site saying "claims".

So let's assume single accident increased my insurance by around 10% and I had them for 5 years, 4 years and 2 year respectively. This calculates to £1090 increase for non-fault accidents. Repair bill being £1140, this means that having insurance vs. not having it made me poorer by £10160... and even where it was not my fault insurance recouped almost everything by increases in premium on following years. 

That is why when you have small technical accident is better just to try to agree with another party in private as that overall will reduce the cost for both parties compared to having it declared to insurance. Isn't that defeating the purpose of having insurance in the first place?

I mean sure this is nothing more than theoretical discussion - we can't do anything about it anyway... 

The rest is pretty much on point...

[serbarry]

Linas just for curiosity: why your profile shows none for Lexus model and other/non UK for location? I thought you lived in UK and drive a Lexus though.

[Linas.P]

30 minutes ago, serbarry said:

Linas just for curiosity: why your profile shows none for Lexus model and other/non UK for location? I thought you lived in UK and drive a Lexus though.

I don't drive a Lexus anymore and as for living in UK... that is complicated 😁

[Phil xxkr]

2 hours ago, Sundance said:

I think that we must all accept by now that insurance is a legalised protection racket supposedly run by professionals who organise their own random risk assessment to make the most profit whilst using contractual 'small print' to offset the risk of significant losses. 🙂

Many say it's a con and they're not far wrong, but the one thing that it does serve is to protect an innocent party from financial loss that they could otherwise not afford. 😉

Banks are shysters, pure and simple, legalised loan sharks but just make sure you pay them nothing to look after your own money. 🙂

At the risk of a blizzard of social opprobrium may I earnestly ask before you unleash your slings and arrows at insurance companies and other profit centered firms ask your pension provider where do they invest your money and do you insist on a return? 🤑🤑🤑

[royoftherovers]

17 minutes ago, Linas.P said:

Don't drive a Lexus anymore and as for living in UK... that is complicated 😁

I`ve had to read this twice !

An explanation will surely follow ?

[Linas.P]

7 minutes ago, royoftherovers said:

I`ve had to read this twice !

An explanation will surely follow ?

Not much to explain - RC200t just has terrible engine and I didn't like it. Lexus UK does not sell any cars which would satisfy me, so I don't really have a choice. On the bright side I can't remember when I needed to drive anywhere, so having a car became much less relevant.

[Linas.P]

10 minutes ago, Phil xxkr said:

At the risk of a blizzard of social opprobrium may I earnestly ask before you unleash your slings and arrows at insurance companies and other profit centered firms ask your pension provider where do they invest your money and do you insist on a return? 🤑🤑🤑

Valid question .... and why do we allow pension funds to be in tax heavens as well?!

[LenT]

12 minutes ago, royoftherovers said:

I`ve had to read this twice !

An explanation will surely follow ?

I did recently overhear a phone conversation which revealed that LinusP was actually the pseudonym of a 73-year old retired Presbyterian Scottish minister who was once renowned for the leisurely way he pottered around the Highland lanes in his Mini Traveller.

He now lives in a quiet island Croft with his wife, Agnes, and McTavish  the wee terrier.  A local monument commemorates the time that, single handed, he saved a flock of sheep from attack by a small herd of feral haggis.

He now runs a select Sporran Combing business.

Mind you, it was a bad line and I may have mIsheard some of this.

[royoftherovers]

11 minutes ago, Linas.P said:

Not much to explain - RC200t just has terrible engine and I didn't like it. Lexus UK does not sell any cars which would satisfy me, so I don't really have a choice. On the bright side I can't remember when I needed to drive anywhere, so having a car became much less relevant.

Thanks Linas. So are you saying that you don`t have a car anymore ?

If yes, how did you dispose of the RC?

If no, what car do you have now and

Do you or do you not live in U.K.?

[Linas.P]

1 minute ago, royoftherovers said:

Thanks Linas. So are you saying that you don`t have a car anymore ?

If yes, how did you dispose of the RC?

If no, what car do you have now and

Do you or do you not live in U.K.?

Set it on fire ... how else? 😁

[royoftherovers]

5 minutes ago, Linas.P said:

Set it on fire ... how else? 😁

That is a really short answer from you Buddy.

Would you please answer my questions ?

[LenT]

20 minutes ago, Linas.P said:

Set it on fire ... how else? 😁

Now THAT would be a claim worth reading! ☺️

[bobjol]

A reply on this topic made about an hour ago has annoyed me.

A reference was made about a Scottish Minister living on an island with a wife named Agnes.  I am Scottish and my late mother was named Agnes.  We dont live on an island, but take great offence at those comments and references.  Why was Scotland chosen to make those racist and bigoted remarks?

[Linas.P]

17 minutes ago, LenT said:

Now THAT would be a claim worth reading! ☺️

wait... did I say I set it on fire.... no no no - it just randomly engulfed itself... don't know what happened 🤐

[Malc]

46 minutes ago, royoftherovers said:

Do you or do you not live in U.K.?

oh my !  are you " M " in a Bond movie .................. or underhand working for HMRC  ah, sorry, that's all of us I guess 

Malc

[Malc]

5 minutes ago, bobjol said:

Why was Scotland chosen to make those racist and bigoted remarks?

anywhere would have done, Sheppey, Windsor, Blackheath  .....  guess Scotland is at peak mind time right now with Sturgeon dominating the tv news screens with her " breakaway " proposals .......  is that a chocolate biscuit too ?

Malc