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oh and if you want to insure CHEAP - register car in any CHEAP EU country like Poland and they will do this (they even insure RHD cars) and then you can drive in UK EU ZERO PROBLEMS
Stop thinking like poor person. When life gives you lemons you do lemonade. This highway robbery is paving road for new starting insurance companies. Obviously there is massive demand for sensible insurance company. Now. How to take this golden opportunity and turn into chance of the lifetime. Maybe CZcamsrs have to put their funds together and form a company and insure each other. Maybe the license and paperwork takes some money, but we all save in the long run. Crowd funded insurance company? Crypto based DAO providing insurance? Stanford business school teaches how to steal from billion dollar industries. Like taxis. And Uber. Or hotels, and Air B&B Now. Let's steal customers from greedy corporations and make app based insurance company. Worldwide cover. I see this as opportunity on the plate.
Summary Estimate Based on the factors above, a rough estimate for starting a car insurance company in the UK could be: Initial Capital and Surplus: £3 million - £5 million Regulatory and Professional Costs: £300,000 - £600,000 Operational Costs (Year 1): £2 million - £4 million Claims Reserves: £10 million - £20 million Total Estimated Initial Investment: £15 million - £30 million
@@ztrappedshop You need to have £500k deposited in the courts in order to self insure in the UK. But almost no matter the price of your policy, it's always going to work out more expensive doing it that way due to the lost cash you could have generated by simply putting that half a million in an S&P500 index fund or similar.
To be fair if you started your own company with competitive prices it would drive down profits for the others and force them to adjust their prices to remain competitive. A people's funded insurance revolution would flip the greedy gets off their money mattress
Haha! Insurance companies are still lying through their teeth about the costs of repairs and supply chains being major issues. If it’s true why are they still making serious profit?
the problem is that it's legally required. The government should have their own (but basic) insurance that is effectively owned by the motorists and would almost set a benchmark in the market for premiums. This will keep prices low and competitive and will allow it to be functional. Watch how many insurance companies will go out of business then? Insurance is a total scam. And the answer is none. As shown, Admiral group reported a doubling of their profits to half a billion last year. It’s a joke.
100%. A great idea that should be in effect today. No doubt decisionmakers are being "incentivised" by the scamsurance industry not to implement such a policy though.
In New Zealand we have a thing called ACC. It’s a no fault accident insurance scheme run by the Crown. You pay a premium alongside your PAYE tax in wages and salary. Vehicle registration is mostly your ACC premium and there is a charge of a few cents per litre of petrol. This gives you cover for accidents and death. If you or someone else gets injured as a result of a vehicle incident, ACC picks up the rehab tab and 80% of your wages until you can return to work. Same if you get injured playing sport, fall over at home or have a workplace accident. This means that property insurance is optional in New Zealand.
What's the point of having 20 years no claims when insurance companies will only discount for 8 years. Then if you have an accident you lose them all. Insurance is such a scam.
It's literally a scam. You put your money in the pocket of greedy CEOs and expect them to give it back when you're in need. Has this ever happened in human history?
@@MarkMcCann64 Section 144 of The Road Traffic Act,1988 makes provision for a vehicle owner to self-insure. Talk to your lawyer if you don’t believe me.
@@jawndoekck Sure, if you've got half a million quid to put down. The only people that really use this are huge businesses and police forces who would struggle to insure all of their officers given the risk involved due to the manner of driving expected. I serve in a large force with 30,000 officers and I seriously doubt any insurer would even give a quote for insurance. There's something like 5,000 vehicles alone.
When the "cough cough" happened cars weren't allowed on the streets. premiums should have gone down and stayed there. Companies that use this excuse should go out of business as soon as they try to bring this up.
People weren't buying Cars 10,000 people not buying Cars and insuring them would leave a black hole. As majority of people don't have accidents. Premiums went up to cover the shortfall how less accidents is irrelevant.
@mexmex1975 I'm still waiting for the discounted rates from COVID because there were significantly less claims (despite many people leaving their vehicles insured). Insurance didn't 'lose out', they just want to cream everyone...
I think the argument is that repair costs and car values all increased substantially after 2022. The increase in EVs is also a factor, as they are all worried about battery replacements (wait for the clauses to be written in soon). It is getting a bit daft now though and is forcing more people to break the law or simply get rid of their car.
Not only that, but in Romania, the prices for repairs are also insane. I was quoted 4000 EUROS for a small front right door and side skirt repair (granted, the side shirt was hit pretty badly). I repaired the car for 400 EUROS, paint and everything, in some dude’s back yard… The repair was top notch and if I ever need a repair and paint I’ll gladly take my money there. Seems like it’s a big pyramide scheme where everyone scams the next person in line, with the consumer being the one to support the cost of everyone looking to make an easy buck for little to no work.
if they quote a very large number…. most of the time it doesn’t mean the repair is gonna cost that much. it means they don’t want to repair it themselves.
@@IHATEPINKTF my friend had accident (hit a deer), insurance company paid 3800£ for the repair to the "body shop ".. not a very good job!!.. I found brand new parts (already painted)- insurance approved parts- for about 1000£ and I would get it done myself in a day or so.. bonet, front left wing and headlamp.. where are they getting those prices from?🤷🏻♂️🤦🏻♂️
This is it…1000%! They want you in “15 minute cities,” never going farther than absolutely necessary. And when you do leave the house, they’ll be tracking you and accessing a carbon tax for the privilege of movement.
UK Car insurance needs a publically owned alternative that is fair and transparent. If its a mandatory cost to have to drive on public roads, then there needs to be a publically owned alternative.
@4879daniel you're doing that anyway. Most of the insurance amount we pay is tax duty. The higher the insurance, the more tax. And everyone's insurances go up the more accidents there are. So the bad drivers are being subsided when we pay more anyway.
It's a good old con, people in the country pay for the roads with general taxes (same as NZ) but can't use the roads without paying a private company who has nothing to do with the roads money (unlike NZ). The result is that I pay 4 times the price for insurance in the UK vs NZ for a car worth 30% of the price. Both places have similar %s of insured cars & you still have to pay if you damage someone's stuff with your car in both places. The only big difference is that in the UK the roads were privatized (you need to pay a private company to use them) & in NZ insurance is a competitive market (you choose to buy it if it's worth it).
I'm 22 from London and have had my BMW 1 Series since I was 18. My quotes since then went from £3000 / year in 2020 to this year paying only £950 / year for 2024. Surprisingly, I removed my dad as a second driver who has a full clean record with many years of no claims bonus since last year and my insurance premium dropped by 60% It really is just a lottery at this point and I honestly feel bad for the working class people who genuinely need insurance to commute to work in order to provide for their families but can't pay these prices
@@connor2155 it’s probably because they expect most of their customers just to renew when they get the next years premium through same thing happened to my dad he went from like 300 a year to 1600 he told them to shove it and got it for like 400 a year now
damn, i was furious when i paid this year 167 eur but i guess i cant complain. From 137 eur annual with windshield included to 167 no windshield included...2001 petrol skoda. Portugal car value is 600 eur
2 years ago I was paying with admiral £350 a year for a modified golf, I then bought a leon cupra and had to insure both. That then came to £850 for both which I thought was fair, then last year my renewal quote went to £1450 for the two cars. I sold my golf and had left admiral but still have the cupra but decided to get a quote with them this year. They quoted me £1500 for just the cupra on its own 😮😢
Car insurance is basically legalised extortion. You have to have car insurance, so the insurance companies are just taking advantage of the general public. The government should have a public enquiry into insurance companies The UK public is being fleeced by the insurance companies.
“Yes we know you’re driving a ‘09 Corsa but there’s a chance you might hit a 2024 Range Rover, so that’s why you need to pay us 270£ a month”. This is exactly what an insurance company told me after i passed my driving test 😂.
@@TomTom-gs7wy they're right and not only that, you're most likely to crash when fresh off the line. would you hand out the keys to your pride and joy to a boy that just passed the test? and have to pay for what he crashes into as well? because that's what they're insuring.
In other European countries they insure based on the value of the car the more expensive the car is it is supposed to be more expensive insurance that's the problem in countries like uk they just have too many rich people...
I had a severe crash because the garage had the wrong parts mounted on a NEW vehicle. I spent 9 months recovering. The insurance used all kinds of tactics to get out of paying. It took 13 years for them to finally get me some minimal money.
You can blame lawyers. The legal profession is worth £50bn. That is £758 per man, woman and child in this country. We end up paying for it indirectly in higher cost of goods and services. Regulation is good business. All those unsolicited phone calls 'have you been involved in an accident'
It’s the same in all industries. Just like our gas and electricity or fuel companies. They are all making absolute record breaking profits and upping their prices for no reason whilst the people suffer with a cost of living crisis.
Ultimately you don't have to take the products. I'm not saying it's right, but you aren't forced to do anything. If everyone stopped driving for a few weeks they'd feel the sting. People just will not come together to achieve a common goal though
@@MarkMcCann64How about a broker in another country? Trade insurance? Insuring cars in the cotswolds is so much cheaper. A lot of expensive cars here and theft a lot lower
I have 3 vechicals, Honda Fireblade, Fiat camper van and a VW Golf, 2 years ago I had a incident where a car overtook me and for no reason started brake checking me, I had all this on dash cam which I went to the police with, they asked me if I wanted to press charges, they didn't even investigate it, I also informed my motorhome insurance, they asked me to send the the dash cam video, they thanked me, 3 months later when my Golf insurance was due they quoted me £100 more, when I rang them and asked why they said it was because of the video they had put a marker on my policy, I told them they where penalising me for informing them of this person trying brake checking and trying to cause an accident, insurance is just a rip off
@@daviddavies3810 Nope, just telling you what happened. Imagine you're insuring a complete stranger, then that stranger sends you a vid of them getting into a road-rage incident with someone. Would that make you increase or decrease their premiums? Try actually thinking about it?
What i didn't say in my comment was that the idiot overtook me approaching a blind crest on double white lines in pouring rain with surface water and a 40 MPH speed limit which i was adhering to.
Watched the video last week and I'm amazed that you can insure your £500,00 car for 'only' £6,377. I've just received my renewal quote for my '01 Audi A8 3.7 petrol. Last year it cost £370 to insure, and this year it has increased to £523. Fully comp with full NCD and it rises by 41% because insurance companies just write off EVs when they get a scratch on the bottom of them. My car is only worth a couple of grand, and if it gets so much as a dent in any panel, it will be written off as it's made from Aluminium, as opposed to being repaired. Is it any wonder so many people are willing to not have insurance!
My son just passed his driving test here in Spain he is 22. He drives a vrs Škoda Octavia estate with 177 bhp. And paid €460 total 3rd party fire and theft with breakdown cover. Uk is having a laugh. Not coming back 😡
i have an audi a3 2009 im still a full time student. 21 and my insurance is 1.2k all inclusive of breakdown road accident EVERYTHING. dunno why you r being cunted in a mazda. (Admiral policy btw)
I cant find anything to insure for less than 2k. Vauxhall corsa £2600 suzuki swift sport £2600 and anything beyond that I feel it's a waste of time listing cos I'm not pay9ng £3k plus on insurance but the fact I can only find 2 cars with overpriced insurance rather than severely overpriced insurance is insane
Here in Australia we have compulsory third party (CTP) built into your car registration costs for personal medical cover for injuries or deaths to other people. There is no compulsory car insurance, although we do have the choice of insurance for third party property (which covers damage to other vehicles and property) or comprehensive insurance (which covers damage to your vehicle plus other vehicles and property). So long as you register your car (which includes CTP) it is up to you whether you want third party property, comprehensive insurance, or no insurance.
Insurance is bonkers. I’m 26, zero claims, zero points, went to insure my 1200hp GTR with everything declared/agreed value and Adrian Flux wanted £9,300. Spoke to a few specialist brokers, and secured a deal at £1,400 - Imagine if I’d just paid the first one🤯
Here in Thailand, it costs $24 usd per year for road tax. That includes full liability insurance coverage for one full year. My medication costs nearly $200 per month in the states, and it only costs $1 per month in Thailand. It's the same exact medication made in USA. Insurance companies are criminal organizations that must be brought to justice.
@martynrollinson it's provided by the government. They tell us it is full coverage liability. I don't know of anyone who has made a claim. I do know of someone who was drunk and plowed into a parked truck. He did have to pay out of pocket because he was drunk. It's insurance, so all I know is nothing in particular. LOL
Your 1$ medical expence has been subsidised by poor thai people so that uneducated condescending rich foreigners who never invested in thai healthcare can gloat on the internet whilst abusing poor local societies.
Other countries allow you to insure the car as opposed to the person individually and it makes so much more sense and saves a family so much more money, that's the way to go
@@blakem2667 yes, that makes insurance so much cheaper. And if someone hits someone here in Sweden, the car insurance doesn’t pay anything. The injured person goes to free healthcare, no need to cover something that’s free? Here you can’t get anything from another person in indirect damage, only direct ie the damages to your hit car/bike/porcelain vase in the trunk.
As a Dutch driver I could never figure out why the UK has such a complicated insurance scam. In the Netherlands you insure your car and it doesn't matter who is driving it and in what capacity. As long as the driver has a valid license he's insured. Feel the need to do deliveries with your private car? Sure, you're insured. Why should you pay extra because you use your car for deliveries or any other work? We don't know "commercial insurance." The only reasons I see for this scam is pure highway robbery. English insurers insure you, but have a lot of tiny fine print that explains why despite paying your premiums, you're not actually insured. And next they wonder why so many British motorists refuse to participate in the scam.
Skill of the driver is important IMO especially on UK roads they are narrow and crowded when i drove in Europe the roads are so much more open and empty. Maybe after 2+ years of driving they could be allowed to use insured car plan
I’m 34 years old, don’t have a drivers licence because the cost of the car, insurance, tax and MOT don’t make sense to me - I do have a private pilots licence and the insurance on my C42 aircraft is cheaper than getting insured on my partners XC40
Sounds to me like you need an Insurance system in the UK similar to what we have here in Australia. Here, we have Compulsory Third Party insurance that any vehicle owner MUST have in order to even Register their car to be able to legally drive on the Road. And then, we have voluntary Comprehensive Insurance that insures you/your vehicle against accident, theft, fire, flood, etc... So, with the CTP, if you're at fault, it covers the person you hit and their vehicle, property damage, etc... with the Comprehensive, it covers your own vehicle.
"Why is car insurance so expensive?" - Simple - because the people of this country don't fight back. They just bend over and take it. If everyone refused to get car insurance, problem solved - but nope. "Moan moan moan, pay it anyway".
While I agree with the sentiment, I think the section in the video with the police officer said a lot, insurance is about covering more than just the vehicles. It's a necessary evil and not insuring your vehicle isn't the way to fight back. It only hurts more people. We need to go after the insurance companies themselves, lobby for lower premiums. Better yet, why isn't there a government insurance policy 'good drivers' can apply for?
Completely agree. Exactly the same reason why theres no mobile coverage in the UK. Why would they invest millions of pounds in improving the infrastructure when the monkey still pays the bill every month.
Insurance in the UK is a scam, I pay around 400€ per year for a 2019 golf gti tcr (edit: I dont live in the UK, couldn’t dream what it would be in the UK)
Why not just get insurance, without collision? If you aren't insuring the car itself, you should be able to get insurance easily, so you can register it for the road.
When you make a claim against a 3rd party via the small claims courts independently, your insurer gets pissed off and tries to defend the 3rd party. Jokers!!
Insurance companies are pure organised crime. My wife was kicked out by Admiral because "she used her brakes too much". A Porsche Cayenne Turbo has good brakes but is that a reason to cancel an insurance? It's no different in Germany. I've had one claim in my entire 25 years of driving and the insurance cancelled the policy. It took 6 months to find a policy for my BYD Seal and I'm paying €1300 a year! Regulators need to step in.
If you get a quote at (for example) compare the markets, your risk goes up if you do it multiple times. I tried using different IP addresses and got different quotes.
I got hit by a women who made off. Even though the police had her on traffic cameras driving the car they said didn’t have enough evidence to prosecute her. I paid for my own damage as it would have increased the cost of my premiums more than the cost of the repair.
The threshold for the police to prosecute is beyond all reasonable doubt - the threshold for insurance is balance of probabilities. Why didn't you pursue her through your insurers? 🤔
I’m 53 years old, I own my 2011 Renault Megane 1.5 dci estate & it cost me £156 to insure this year, fully comp. This is £4 less than last year with the same insurer. Full no claims, clean licence held since 1996. I do however hold several licence categories, full bike, HGV & PCV
Insurance is a pure scam. If you injury, harm or damage property or person, your naturally liable. It's called "law". You pay because they say you have too, pure lies and decept!
Just to inform you. Here in Portugal are going up also. But there's 1 thing totally different. Has it is mandatory to have insurance, if no insurance company insures you, the regulator by law, forces 1 company to give you insurance for a designated price. So, everyone can have insurance. The UK, should be the same.
@@donaldv13 offering would be to good😁. In fact, it's just the opposite with other things that exists. Some taxes are just way to unfair. We pay taxes related to the income of every month's work, it varies between 17% up to 47%, and still we have to pay taxes on everything we buy. Like gas for instance, more than 60% of the price are taxes, it's just crazy and unfair. Just for context. Must people has a pay about 1000€ a month, and a small house costs to buy over 200.000€. just do the math!!!
Car insurance in UK is a scam. i have insured my A4 B7 2.0tdi from 2005 with a company with 1500 gbp/year, fully comp, and then i looked for other companies an Lloyds was asking me for 5k, and Sainsbury was asking me for 7k. its a scam because there is no law to control how much is too much in this country
I have 3 Audis one is a limited edition that the insurance considers as premium car, fully comp no claims protected full European cover + recovery - £1100 total. I have a lifetime of no claims though.
An old bloke hit my car in a carpark last year. All went through insurance and my insurance company charged the other £250 per day for my curtesy car….a vw polo. They are vastly inflating prices so that’s one reason our premiums are sky high.
So true, I feel like this video didn’t tell even half of the story as to why premiums are so high. Injury claim maps for the U.K. are very telling also.
Insurance is a fucking joke. Someone reversed into my parked car the other day, and my insurance company is refusing to pay out... i pay £2,700 a year for a fucking citreon DS4 2.0litre. I'm fucking fed up with this country and I cannot wait to leave
Dude in 3 years of insurance you've already paid out the value of your car for resale, No seriously, start looking for a new qoute, as soon as you find a cheaper on if so, tell your current insurance company your leaving because its a rip off, make sure you speak to some manager, so they can log it, 2 days later you might get an email saying sorry about your experience, heres a cheaper qoute, etc, they take the piss man, 2700 a year is like taking the piss Thats criminal man 2700 and cant act on a small claim is a joke aswell i hope things get better for you
@@RealFinalCionideI'm guessing £2700 is because of his assessed risk to damage other more expensive cars. If the other driver is at fault why isn't their insurance paying not yours?
I mean the sensible thing to do would be stop paying, leaving is quite the step up. TBH if youre on the way out you can really push things. Got any credit cards? lol
@@Steven-hq3go absolutely no idea. My insurance company is a fucken scam. The guy has even claimed liability yet they've had to get a 3rd party company to try and sort it... No wonder people drive without insurance🤦🏻♂️
Its expensive because its a legal requirement and its (effectively) completely unregulated. In countries where its not a legal requirement, you can get insured on anything AND its cheap.
The government has no incentive to fix the issue of insurance prices because most of the insurance premium is tax. Same with fuel. Lower prices means less tax which gives them less money to send to Ukraine and other ways they can launder money into their mates' pockets.
@@alexk2967they are regulated to do the business legally but not regulated to provide sensible and affordable offers. For example FCA will regulate the insurance company to provide their service correctly but do not regulate the fact that a 18 y/o teen trying to insure a 2001 1200cc Mini Cooper have been provided a quote which sometimes 5 folds the actual car value.
@@alexk2967 how much is fuel duty? I have been driving for 10 years. My premium in the last 5 years has only gone up. Clean license and one accident several years ago that I was not at fault for so intact no claims. Despite that, the only time I saw a drop in my premium was during covid. Why don't you explain half a billion pounds in profit
You are basically a company in the motor trade so why not go for a trade insurance? I've been on a trade insurance policy for over ten years now and never had no problem. When I buy a new motor I just text the registration and it goes straight onto the database so no hassle with the ANPR cameras. The only problem I can think of for you is they give you a maximum for the value for your vehicle. My maximum value for the vehicle I can drive is £250 000 (Not that I could ever afford to drive a car of that value) Take care people 👍👍👍
Finally someone in the UK has said and proven the truth, this is car insurance fraud, it has a negative impact on people preferring to stay at home on benefits! Why is insurance in Poland for every citizen and for every budget? The car is worth two thousand and the insurance is seven thousand! Someone needs to stop this and it needs to be publicized so that everyone understands that it's a scam!
The carprice is irrelevant, you are paying for what people put on road and the history of drivers with your car. If the UK has a lot of 30k+ cars on road its more expensive. If your car is known to be involved in a lot of crashes (typical VW Golf) its more expensive. Probably should look for cars that are not as much on the road like Alfa Romeos that have pretty good history because people how line the Brand treat them well
The important point is to read the policy document. I got burned when it said that if a car is 'written off' they keep the rest of the premiums. So there is more incentive in them to write-off the car, then repair it.
This country is run by corporations. They lobby government. It does n 't matter which political party. They keep saying the rich should pay more taxes, but what they mean is the plebs to pay more taxes.
There is a lack of competition. Companies take over one another and there are a fewer and fewer players. It has happened in the US. It is happening in the UK.
This is not about competition. Competition may apply for example for TVs. We don’t necessarily need TVs, but we do need insurance as it is a legal requirement. Insurance companies know we have to pay insurance. It’s probable that they are colluding together to raising the prices and making millions of profits that you see. It’s basically extortion. Same applies for energy, water etc.
The reality is, they are the only industry who are allowed to apply prejudice to justify excessive pricing on insurance. It’s only excessive because it’s a legal requirement.
Poland - one year of basic insurance for 1998 passat B5 - 70£ a year. Netherlands - Skoda superb nov 2019 full cover 13 years no claim - from 550£ a year
In Australia, in some states, Insurance is not compulsory. I used to be a no claims customer, comprehensive, however due to increasing costs, I’ve opted for Third Party Fire & Theft which is only slightly cheaper.
One company goes up so another see’s them go up so they say hey we can too lol. So then another and another . Greed ! There’s no reason every company should go up on prices other than greed
When I renewal went up (doubled) before ringing I checked online and every result was the same. I rang up and they only change 7% more. It’s a complete racket.
TOP TIP - For comparison sites don't make too many changes one after another on the same account. Use an incognito window and a different email address. I tested quotes by changing mileage and occupation to find the best price and after 10 changes my original quote setup (mileage, occupation etc) had jumped up by £500. Using a few different email addresses and a few tweaks I got it down by almost £500.
Insurance is a scam. Just take a look at what their executives get paid, including bonuses. No matter what, our premiums go up every year, even if we don't claim. And, guess what, it's way over the inflation rate.
Ive just changed from a petrol mondeo titanium x sport to an octavia vrs and my insurance company wouldnt insure me. I'd been with them 10 years, no claims at all, clean licence, 3000 miles a year same address, same job. Im 65. Its absolutely ridiculous
@Steven-hq3go I do. Hastings had been the cheapest I could find for ten years. Thats why I was shocked they wouldn't insure me for the Skoda. And obviously I shopped around for the cheapest quote to get new insurance
Another point you’re missing is your website cookies EVERYTHING is tracked so if you search over & over again they end up just giving the same quote or higher. Always use private browsers, vpn etc
Uk insurance companies have always conned the motorists in the uk. If you look back over the last 50 years, the insurance companies have used loads of reasons to put insurance policies up. First it was to many keys fit the same vehicles, then it was key fobs, immobiliser, then alarms, post code, area you live in, then age, keyless entry, that vehicle is stolen a lot etc… Now insurance companies don’t even send out assessors, they go by photos for crash vehicles. Going on a dealership to fit the vehicle. They will never use local small garages, even tho most dealerships farm the body work out to them local small businesses to fit them. So instead of dealing with a small local business that could repair the vehicles at a third of the cost of a dealership they right the vehicle off. Then every one’s policy goes up. As for young drivers this is also another big con. Because if you goto Europe young drivers are not charged over the odds by insurance companies. Yet in the uk, young drivers are completely victimised by insurance companies. Most insurance companies in Europe are subsidiaries of the British insurance companies. Years ago an mep in Germany did a test, getting two people one in the uk and another in Germany, both the same age, both passed their test in 5he same week. The German went to a Mercedes dealership got an A class drove out with it on the same day, had insurance by a British insurance company subsidiary. The British person couldn’t get any insurance at all. Insurance in Europe has not gone up, like it has in the uk. Because the uk is subsidising Europe. This is very clear. Then you come to how vehicles are stolen, in Europe the vehicles can quickly be stolen and out of the country because of the roads systems. In the uk they get out via a port. But ferry ports are not forced to have anpr cameras or check vins for a vehicle leaving the uk. The same with container ports in which 85% of vehicle get out of the country. The insurance companies and police are not forcing these ports to do proper checks on the vehicles going in containers or leaving via a ferry. They just up the costs on the people who have to get insurance for their vehicles instead. Insurance companies never deal with the problem. The police also help the insurance companies by policing the roads, on their behalf. Blaming someone that has no insurance is not the problem, the problem is the insurance companies over charging for insurance. Those with no insurance driving on the roads is about 2% of all those driving on the roads. The copper in this video is just try I goto justify the police going after those without insurance, which is a waste of taxpayers money. As most towns have anpr cameras on entering them, so no need for the police to waste time driving around trying to get them. When a town has anpr cameras, then they could let the police know. In other countries insurance is only on the vehicles no matter the drivers. But in the uk insurance is done on the driver and the vehicle. Insurance should be fixed in price set at a max going on the value of the vehicle so vehicles under £50k and drops from that point, for example max insurance for a car should be £1000 per year, and drop year on year. In Europe the average is around £500 per year. Motorcycle should be max £500. Vans max £1000 per year. An the prices should be set every two years within the government’s budget. Then insurance companies cannot keep ripping the uk motorists off.
correct police officer's reasoning does not justify why insurance is so expensive as other countries will have to deal with the same issues if a vehicle crashes but the insurance prices are no where near as high and they do not insure the driver and only the vehicle.
The main reason that motorists get slammed is that its mandatory for driver to have it. Public Liability is the same. They load their 'losses' onto any insurance that's mandatory. Look at a general travel insurance policy. I have an annual European policy with pre existing medical stuff, with £15m cover, and i pay £60 a year. Im sure that US car insurance is liability based? Any US friends please confirm.
@@Crosshatch1212 sorry to say wait until it gets stolen. So many that have never had an issue for years, then there 600cc plus bike gets stolen, and they cannot get insurance on a bike above 350cc.
Insurance has gotten ridiculous here in the States as well. A few months back, I got a nearly new 720S with a half a million dollar MSRP, and Hagerty refused to insurance it even though all my records are clean. I had to get another company to insurance it. This of course costs more since the McLaren is on a policy by itself separated from the other super cars! Hagerty stated they will be happy to insure the 720S after one year ownership. Translation "We want to see if you'll crash your car in the first year. If you don't, then we think you know how to drive it and we will insure it...!"
I've jumped through these nonsensical insurance hoops every year for car and bike insurance. They know we play with the options, we know we play with the options, why bother other than to frustrate buyers?!
Crazy. I do NOT drive a fancy car, but I pay around £300 annually for my 2008 Volvo V50. Fully covered. Conditions: Max 8000 km/year & only drivers above 25, still allowing my 20 year old son to use the car as long as he lives in the same house. This in Norway.
One of the reasons why insurance has increased so much is due to electric vehicles. Most insurance companies tend to write these cars off because there are not enough specialized repair centers to repair these vehicles in the country. Most of these vehicles are designed as skateboards, where the battery pack is the main structure of the vehicle. As soon as there’s any damage to any other structure, they just write it off. As you are aware, many of these vehicles are very expensive, and insurance companies need to cover the full price of a new vehicle. As a result, everyone else gets penalized. An insurance company is never going to take the hit; it’s always going to pass it on to the rest of its customers.
Nah it's just a new convenient excuse for them 🤷🏽♂️ insurers have always been eager to write vehicles off & repair prices when through insurance have always been significantly higher than they should be...
I’ve just amended my car insurance from parked in a locked garage to public road after watching your video and got a refund of £130, I’ll happily park on the street outside my house to save a bit of insurance money! Thanks mark
Because they say if someone was to rob your car they know where to find the keys cause your cars in your garage where if its in the road they wont know what home has the keys to the car silly i know!
One of the issues with insurance is these companies offering hire cars in a non-fault accident. The Mrs’ car was hit on a roundabout and was given a hire car for 3 months. The cost of the repair was about £5k but the cost of the hire car was £9.5k!
Some extra tips a friend in insurances gave me. - street outside home. (Because if you had a house fire it wouldnt get damaged, where as in a locked garage it would) - set the start date 21 days in advance (thats the absolute sweet spot.) -millage also goes off your occupation, so camera man who does 8000 miles a year, may seem like hes not getting a lot of work, or maybe youre getting paid more to do less. Also its about time spent in the roads if you do 20k a year, thats a chance that every extra mile you drive may cause damage, have a crash or worse. So you need hit a good inbetween, i usually go for the 5-8k miles. -occupation, you want to go for the one that describes your job but with the least risk, the least chance of crashes, theft, breakdown etc . Its a insane. But try those.
For the occupation, if I insured my motorbike as a chef it would be double the cost of insuring it as a care home worker. I'm one of the cooks in a care home so I tell my insurer the latter as its not a lie.
It's also easier to steal if it's at your house - they know which house to break into to get the keys etc - in the street they don't know which house the car belongs to.
The entire car insurance industry needs better regulation, some of the quotes people are getting are criminal, there's no wonder there's so many uninsured drivers.
Its a scam. After 4 years fighting my insurance company after somebody crashed into me 50mph head on im still injured and was forced to take £5000 otherwise i was liable for court fees over £20K i'm still injured and pay for my own physio regular. Lost well over 10K in the process with time off work and expenses i never claimed for, all i wanted was my injuries fixing. They refused to pay for more treatment and scans so i tried to claim for my losses but i never had a sick note as im self employed so that got rejected and my private physio isn't vat registered so i couldn't claim anything. I'll never be the same my back, hip and neck/shoulders hammered but im full of shit apparently (solicitor said its just wear and tear on my body). The oppositions insurance must of been a sister company to mine or visa versa because they had no interest in fighting my case they gave me all the wrong advice or lack of it and got funny with me multiple times after calling out their BS.
Most insurance companies are underwritten by 3 or 4 financial companies, yes it's a massive scam industry that's worth billions for them. I'm the same as you fractured my neck and back and my skull and like you say they say i full of crap, so I know how you feel.
You can get a backdated sick note from your gp based on your medical records they don’t care about your employment type. It might be useful still look into it.
I suspect the lawyers on both sides did well out of this. They are on £450per hour. They rather spend money on lawyers then paying for injuries. Just look at the Post Office scandal. Millions spend on lawyers, but pay-out to sub-postmaster is still lacking.
I fought with my solicitor for years because they wouldn't believe I was still suffering with my injuries, and they kept saying I'd had a previous back injury. It wasn't my back that was injured in the crash, it was my neck. The problem I had before was my rib area, GP put under scapula (shoulder blade) for some reason though instead. None of the solicitors that handled my case could understand that a scapula was a shoulder blade, not a neck. I gave up on the claim, they were valuing it at £1000, crash was back in 2013, just wasn't worth the hassle or stress in the end. Learnt a lesson though, if it ever happens again, to choose an independent solicitor not the insurance recommended ones.
Your broker failed you, using niche companies to save you a few quid. That being said. Christ you did a brilliant job on this video. We’re all being crushed and squeezed for everything constantly. My L405 SVA and 8 series have gone up a lot. You do so much for us car punters, exposing these shysters. Thank you.
We are very fortunate here in South Africa when it comes to insurance. The insurance companies are calling us non stop to do business with them. Your premiums in the UK are crazy.! I pay the equivalent of 130 Pounds a month for a G42 BMW m240i.
Insurers jumped on the back of almost every other consumer driven service provider and ramped up prices for profits... and we all take it. Food, energy, rent, mortgages, utilities... all trying to bleed you dry. No doubt in preparation for digital currencies. It's easier to implement if no one has any money to convert. Net Zero is what you'll have by the time they're done with you.
The correct term for this phenomenon is 'enshittification'. By law, companies are forced to min-max profits for shareholders so everything gets more expensive and worse at the same time. This happens in pretty much every corner of the economic spectrum. A prime example are supermarkets. Crying about increasing prices, having to increase prices themselves to stay afloat -> x2-x4 EVERYTHING in price over a few years, make record profits year over year and STILL blame consumers for buying less and less. Its pathetic.
@@peterkater4292 There isnt one. The focus will shifts towards the more wealthy consumers who don't care about a $5 burger or a 10$ burger. You don't need to sell as many burgers anyways if people are willing to pay double. Poor people will stop buying luxury items first (Tv's cell phones, PC components, brand clothing etc etc) and will also stop eating stuff like meat, eggs, fresh veggies as those also shot up in price and theft will rise as more and more people can't really buy food (Or make bad financial decisions) IMO the biggest problem we have rn is the gap between the poor, the middle class and the elite. Poor and middle class are awfully close in this day and age, with the elite far removed. Normally, you'd have emerging companies who'd offer competition and force companies to either focus on service or pricing for client retention in order to keep their market share. Inflating housing prices and rental prices have literally priced small shops out of cities in favour of empty shopping street that now only house a few big name stores. You simply cannot make money in an actual store currently, the overhead is too high, the crime is too high and there arent enough people outside walking by your shop. You can thank companies like amazon who bled money for almost a decade for this. They've successfully eliminated competition and have gained a dominant (Monopoly) position in online shopping. Expect prices to go up there also.
@@peterkater4292 Yep. I hate to say it, but theres no way around economic collapse. I expected this to happen in 2022 if I'm honest when prices started to rise exponentially. But I guess I was wrong on that front =P
I was having this conversation with a mate the other week. For a laugh I though I'd get some quotes and see what they'd charge me. For my mates shitbox 1.2 fiesta £1.2k (For him it was £1.4k), for my dads 2.0 Astra £1k. There's no rhyme or reason to it, I swear they just pull a figure out of a hat.
Start insurance company Make prices high, but if you don't claim by the end of the policy, you get 50% of the cost of the policy back. Encourages good driving, gives the insurance company the needed collateral to run and deal with existing payouts, gives customers cheap insurance. Everyone wins. I'm really surprised this business model hasn't taken off.
@@mathiasnkristensenyea that’s ridiculous, even in the US here if I were to get added to my parents insurance (2million coverage) it’s only 3600$ a year.
Feels like you poked the bear when they refused to re-insure. You cant have a law that says insurance is compulsory and then have them refuse to cover.
I spoke with an Insurer recently and she told me that a Tesla had been written off because they couldn’t get a replacement window and that 120 Range Rovers are stolen in London every day. There’s no wonder why our premiums are going up!
38yo, 13 NCB, 2 ACCIDENTS IN LAST 3 YEARS (not my fault - still - 4 cars written off in total), also 2nd driver 29yo with green licence - Last year 541.56, this year 628.68 Fully comp and that includes extras FULL RAC, Hire car, and 20% for paying monthly. Few quid a month extra.
one big thing that i have discovered, especially for us younger/new drivers, is a multi car policy. it's essentially a group of different policies under one, where you might have your car insurnace, parents, house insurance etc, and almost as a reward for having all of the policies under one company, the price is significantly cheaper. I think my first year of driving, switching to the multicar policy after about a month, got me somewhere in the region of a £200-300 refund. it's also made my insurance on my current car a lot cheaper for my first and second renewal, and i imagine it'll do the same when it comes time to renew again
We've just insured our 2003 Ford focus Estate 2.0l that we bought from new, with our son as the insurance policy holder so he builds up his NCB - just past his test. We still own the car, and are the registered keepers. The premium being around £1300. If we transferred the ownership to our son, the premium would have been £3700. Perhaps if Mum or Dad, own the car it is an extremely good idea.
Funny story regarding insurance over here in Germany. A mate of mine and I (19&20 yo) have been thinking about getting ourselves our first cars this year and had a dabble in the car insurance plans yesterday. Both with the same insurance company. We found a few differences in what the car, parents, jobs, vehicle owner, time of no claims and such make. What started as just messing around to see what changes what in the price ended in us testing the same car with our own personal data. Only to find out he would pay about 800€ less than me for his insurance. Bearing in mind I've had my license for just under a year longer than him and being a year older. We then tested the same car on the same website with the exact same data at all points (even date of birth, parents, occupation etc.) and it still made a difference of 400€ in his favour. With no difference except the browser running on a different pc elsewhere. I have absolutely no idea how that makes any sense. But I guess that's insurance for you....
Mark there is much more to it than your expert said and many more reasons - I’ve been doing super car insurance for over 25 years. There are specific policies for CZcams’ers. Including the foreign visitors who have cars here, I offered to do the DDE SVJ but no reply
I just came back from Shanghai and they have brilliant public transportation. The bus cost 10 pence and arrives every 10 mins. The subway cost 10 pence and arrives every 10 mins. Roads are large with dedicated cycling/ walking lanes. In Shanghai you can travel easy on a bicycle. In the uk you will get ran off the road by a chav in a uninsured vehicle for fun.
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What you talk about high car insurance - - my Mazda 2 2011 - £260 ANNUALLY - checked today
oh and if you want to insure CHEAP - register car in any CHEAP EU country like Poland and they will do this (they even insure RHD cars) and then you can drive in UK EU ZERO PROBLEMS
Stop thinking like poor person.
When life gives you lemons you do lemonade.
This highway robbery is paving road for new starting insurance companies.
Obviously there is massive demand for sensible insurance company.
Now. How to take this golden opportunity and turn into chance of the lifetime.
Maybe CZcamsrs have to put their funds together and form a company and insure each other.
Maybe the license and paperwork takes some money, but we all save in the long run.
Crowd funded insurance company? Crypto based DAO providing insurance?
Stanford business school teaches how to steal from billion dollar industries.
Like taxis. And Uber.
Or hotels, and Air B&B
Now. Let's steal customers from greedy corporations and make app based insurance company. Worldwide cover.
I see this as opportunity on the plate.
Im getting my bike licence due to struggling get insurance even shitboxes are nearly 5k
Mark you only need £250,000 to start an insurance company.
Just start a company and insure yourself hahahaa
insure all the subscribers too
is it actually that easy? on google it says 3-10 million minimum
Summary Estimate
Based on the factors above, a rough estimate for starting a car insurance company in the UK could be:
Initial Capital and Surplus: £3 million - £5 million
Regulatory and Professional Costs: £300,000 - £600,000
Operational Costs (Year 1): £2 million - £4 million
Claims Reserves: £10 million - £20 million
Total Estimated Initial Investment: £15 million - £30 million
@@ztrappedshop You need to have £500k deposited in the courts in order to self insure in the UK.
But almost no matter the price of your policy, it's always going to work out more expensive doing it that way due to the lost cash you could have generated by simply putting that half a million in an S&P500 index fund or similar.
To be fair if you started your own company with competitive prices it would drive down profits for the others and force them to adjust their prices to remain competitive.
A people's funded insurance revolution would flip the greedy gets off their money mattress
At least all these write offs keep mat armstrong busy 😂
Even his Lambo at 21:05 😂
Mark, Mat and Car Wow are my favourite channels. Top notch editing too.
He thought it to flip it .
Haha! Insurance companies are still lying through their teeth about the costs of repairs and supply chains being major issues. If it’s true why are they still making serious profit?
At the moment Mat Armstrong is keeping Mat Armstrong busy 😂
the problem is that it's legally required. The government should have their own (but basic) insurance that is effectively owned by the motorists and would almost set a benchmark in the market for premiums. This will keep prices low and competitive and will allow it to be functional. Watch how many insurance companies will go out of business then? Insurance is a total scam.
And the answer is none. As shown, Admiral group reported a doubling of their profits to half a billion last year. It’s a joke.
It would be run so bad it would bankrupt the country.
100%. A great idea that should be in effect today. No doubt decisionmakers are being "incentivised" by the scamsurance industry not to implement such a policy though.
In New Zealand we have a thing called ACC. It’s a no fault accident insurance scheme run by the Crown. You pay a premium alongside your PAYE tax in wages and salary. Vehicle registration is mostly your ACC premium and there is a charge of a few cents per litre of petrol. This gives you cover for accidents and death. If you or someone else gets injured as a result of a vehicle incident, ACC picks up the rehab tab and 80% of your wages until you can return to work. Same if you get injured playing sport, fall over at home or have a workplace accident. This means that property insurance is optional in New Zealand.
@@alistermccallum we could have included in our national insurance.
But I want to make money mate
Please make a petition to regulate the insurance market. This is just ridiculous.
What's the point of having 20 years no claims when insurance companies will only discount for 8 years. Then if you have an accident you lose them all. Insurance is such a scam.
It's literally a scam. You put your money in the pocket of greedy CEOs and expect them to give it back when you're in need. Has this ever happened in human history?
And even if you have protected NCB, you still have to declare the claim & even if non-faults, they shaft you anyway 🤷🏽♂️
Statistics. Once you get to 8 years you're as likely to crash in the future as someone with 20 years.
@@wizzyno1566 Regardless if you are going to crash, the fact remains that you have NOT crashed for 20 years not 8.
I went through a period of not having a car for 3 years. When I got a car. My no claims went from 20 years to 0.
Get the Mafia to insure you.
Someone hits you, they hit them. 😂
😂 brilliant
@@MarkMcCann64 Section 144 of The Road Traffic Act,1988 makes provision for a vehicle owner to self-insure. Talk to your lawyer if you don’t believe me.
@@jawndoekck Sure, if you've got half a million quid to put down. The only people that really use this are huge businesses and police forces who would struggle to insure all of their officers given the risk involved due to the manner of driving expected. I serve in a large force with 30,000 officers and I seriously doubt any insurer would even give a quote for insurance. There's something like 5,000 vehicles alone.
@@thefiestaguy8831 well it seems like Mark has that kind of money.
Yeah but you’ll find the Mafia then want you to be part of their very exclusive wee Uber fleet delivering special packages at all hours 😂
When the "cough cough" happened cars weren't allowed on the streets. premiums should have gone down and stayed there. Companies that use this excuse should go out of business as soon as they try to bring this up.
Pretty sure premium went up too lol
People weren't buying Cars 10,000 people not buying Cars and insuring them would leave a black hole. As majority of people don't have accidents. Premiums went up to cover the shortfall how less accidents is irrelevant.
@mexmex1975 I'm still waiting for the discounted rates from COVID because there were significantly less claims (despite many people leaving their vehicles insured). Insurance didn't 'lose out', they just want to cream everyone...
I think the argument is that repair costs and car values all increased substantially after 2022. The increase in EVs is also a factor, as they are all worried about battery replacements (wait for the clauses to be written in soon). It is getting a bit daft now though and is forcing more people to break the law or simply get rid of their car.
@@kevinwhite8836 You sound like an insurance broker. Go away, dude.
Not only that, but in Romania, the prices for repairs are also insane. I was quoted 4000 EUROS for a small front right door and side skirt repair (granted, the side shirt was hit pretty badly). I repaired the car for 400 EUROS, paint and everything, in some dude’s back yard… The repair was top notch and if I ever need a repair and paint I’ll gladly take my money there.
Seems like it’s a big pyramide scheme where everyone scams the next person in line, with the consumer being the one to support the cost of everyone looking to make an easy buck for little to no work.
if they quote a very large number…. most of the time it doesn’t mean the repair is gonna cost that much. it means they don’t want to repair it themselves.
@@IHATEPINKTF my friend had accident (hit a deer), insurance company paid 3800£ for the repair to the "body shop ".. not a very good job!!.. I found brand new parts (already painted)- insurance approved parts- for about 1000£ and I would get it done myself in a day or so.. bonet, front left wing and headlamp.. where are they getting those prices from?🤷🏻♂️🤦🏻♂️
They are forcing you off the road as another form of control.
This is it…1000%! They want you in “15 minute cities,” never going farther than absolutely necessary. And when you do leave the house, they’ll be tracking you and accessing a carbon tax for the privilege of movement.
Don’t be a conspiracy nut..it’s not about control. It’s mainly about money. And maybe less cars on road as better for environment etc
@@TomTom-gs7wy Money controls everything
@@TomTom-gs7wythat’s what they want you to believe
@@TomTom-gs7wy Couldnt give af mate, let us be like America and use whatever car we fucking like.
UK Car insurance needs a publically owned alternative that is fair and transparent. If its a mandatory cost to have to drive on public roads, then there needs to be a publically owned alternative.
Then the public would end up subsidising bad drivers.
@4879daniel you're doing that anyway. Most of the insurance amount we pay is tax duty. The higher the insurance, the more tax. And everyone's insurances go up the more accidents there are. So the bad drivers are being subsided when we pay more anyway.
A lot of eastern Europe, your road tax includes you insurance.
So the cars always insured.
@@4879danielbad drivers get kicked off and have to go private. Simple. Maybe it only accepts people with 5 years NCB
Agreed. Heading back to the UK soon. Got a quote for a 2015 Fiesta. It's almost 4 times what I'm paying for a 4.0 six cylinder Ford in NZ.
It's a good old con, people in the country pay for the roads with general taxes (same as NZ) but can't use the roads without paying a private company who has nothing to do with the roads money (unlike NZ). The result is that I pay 4 times the price for insurance in the UK vs NZ for a car worth 30% of the price.
Both places have similar %s of insured cars & you still have to pay if you damage someone's stuff with your car in both places.
The only big difference is that in the UK the roads were privatized (you need to pay a private company to use them) & in NZ insurance is a competitive market (you choose to buy it if it's worth it).
I'm 22 from London and have had my BMW 1 Series since I was 18. My quotes since then went from £3000 / year in 2020 to this year paying only £950 / year for 2024. Surprisingly, I removed my dad as a second driver who has a full clean record with many years of no claims bonus since last year and my insurance premium dropped by 60%
It really is just a lottery at this point and I honestly feel bad for the working class people who genuinely need insurance to commute to work in order to provide for their families but can't pay these prices
43%? mine went from £410 to £1600 at renewal... told them where to stick it, and they came back with a £500 quote, they make it up as they go along.
@@connor2155 it’s probably because they expect most of their customers just to renew when they get the next years premium through same thing happened to my dad he went from like 300 a year to 1600 he told them to shove it and got it for like 400 a year now
damn, i was furious when i paid this year 167 eur but i guess i cant complain. From 137 eur annual with windshield included to 167 no windshield included...2001 petrol skoda. Portugal car value is 600 eur
Yeah mine went up £310 phoned to ask why and before I said anything about the price they lowered it by £400 😳
@@marcioramos2632 that's fair for what I'd imagine most people make there.
In Ireland mine went from 580-630
2 years ago I was paying with admiral £350 a year for a modified golf, I then bought a leon cupra and had to insure both. That then came to £850 for both which I thought was fair, then last year my renewal quote went to £1450 for the two cars. I sold my golf and had left admiral but still have the cupra but decided to get a quote with them this year. They quoted me £1500 for just the cupra on its own 😮😢
Car insurance is basically legalised extortion. You have to have car insurance, so the insurance companies are just taking advantage of the general public.
The government should have a public enquiry into insurance companies
The UK public is being fleeced by the insurance companies.
This country is run by corporations, they lobby government.
The other biggest insurance scam is when you’ve got a no claims discount as a driver but you can use it only on one car.
Range Rover is so bad to insure that JLR started their own insurance arm. And even the JLR Insurance won't insure Range Rovers....
"I've skidded more miles than you've driven" What a line. lol
“Yes we know you’re driving a ‘09 Corsa but there’s a chance you might hit a 2024 Range Rover, so that’s why you need to pay us 270£ a month”. This is exactly what an insurance company told me after i passed my driving test 😂.
That's diabolical lol
But it makes sense right? Your car may not be a lot, but if ur at fault and hit someone else, your insurance has to cover it!
But haven't not are you planning to 😂 this is outrageous, I could understand if the driver had bad record.
@@TomTom-gs7wy they're right and not only that, you're most likely to crash when fresh off the line. would you hand out the keys to your pride and joy to a boy that just passed the test? and have to pay for what he crashes into as well? because that's what they're insuring.
In other European countries they insure based on the value of the car the more expensive the car is it is supposed to be more expensive insurance that's the problem in countries like uk they just have too many rich people...
I had a severe crash because the garage had the wrong parts mounted on a NEW vehicle. I spent 9 months recovering. The insurance used all kinds of tactics to get out of paying. It took 13 years for them to finally get me some minimal money.
You can blame lawyers. The legal profession is worth £50bn. That is £758 per man, woman and child in this country. We end up paying for it indirectly in higher cost of goods and services. Regulation is good business. All those unsolicited phone calls 'have you been involved in an accident'
It’s the same in all industries. Just like our gas and electricity or fuel companies. They are all making absolute record breaking profits and upping their prices for no reason whilst the people suffer with a cost of living crisis.
thank God, new Labour gov will tackle those issues now!
@@MegaUndertaker3 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 They are also WEF puppets..........
Add the water companies in that list too.
Ultimately you don't have to take the products. I'm not saying it's right, but you aren't forced to do anything. If everyone stopped driving for a few weeks they'd feel the sting. People just will not come together to achieve a common goal though
@@Ian20232what's that? I'm Scotland water is free!? 🤔
I ordered my Revuelto, but I canceled it after seeing this, so I sticked to my Mk2 Golf
Wise decision
😂You're better, I stuck to just walking
i had a bolide allotment but i cancelled it and am sticking with my Civic.
Just ordered Bugatti Turbillion, I'll keep it on the street so that the price of my insurance will be lower
@@MarkMcCann64How about a broker in another country? Trade insurance? Insuring cars in the cotswolds is so much cheaper. A lot of expensive cars here and theft a lot lower
I have 3 vechicals, Honda Fireblade, Fiat camper van and a VW Golf, 2 years ago I had a incident where a car overtook me and for no reason started brake checking me, I had all this on dash cam which I went to the police with, they asked me if I wanted to press charges, they didn't even investigate it, I also informed my motorhome insurance, they asked me to send the the dash cam video, they thanked me, 3 months later when my Golf insurance was due they quoted me £100 more, when I rang them and asked why they said it was because of the video they had put a marker on my policy, I told them they where penalising me for informing them of this person trying brake checking and trying to cause an accident, insurance is just a rip off
You revealed you drive in a way that antagonizes other drivers.
@@bigglyguy8429 and you talk rubbish
@@daviddavies3810 Nope, just telling you what happened. Imagine you're insuring a complete stranger, then that stranger sends you a vid of them getting into a road-rage incident with someone. Would that make you increase or decrease their premiums? Try actually thinking about it?
@@bigglyguy8429 he didn't get into a road rage incident, he was harassed by a stranger.
What i didn't say in my comment was that the idiot overtook me approaching a blind crest on double white lines in pouring rain with surface water and a 40 MPH speed limit which i was adhering to.
Watched the video last week and I'm amazed that you can insure your £500,00 car for 'only' £6,377. I've just received my renewal quote for my '01 Audi A8 3.7 petrol. Last year it cost £370 to insure, and this year it has increased to £523. Fully comp with full NCD and it rises by 41% because insurance companies just write off EVs when they get a scratch on the bottom of them. My car is only worth a couple of grand, and if it gets so much as a dent in any panel, it will be written off as it's made from Aluminium, as opposed to being repaired. Is it any wonder so many people are willing to not have insurance!
Also at fault is EV manufacturers not making them more repairable, it's more profitable to make and sell a new one
My son just passed his driving test here in Spain he is 22. He drives a vrs Škoda Octavia estate with 177 bhp. And paid €460 total 3rd party fire and theft with breakdown cover. Uk is having a laugh. Not coming back 😡
Thats not even bad
They paying for migrants
3rd party will always be cheaper.
@@groan_of_tedium not true in uk
@@groan_of_tedium was actually more expensive when I did it get fully comp cheaper.
UK INSURANCE IS MAD HERE I DRIVE A MAZDA 2 AND I PAY OVER £2,000. WE THE UK PEOPLE ARE BEING RIPPED OFF!!!!
How's your license and claim history?
i have an audi a3 2009 im still a full time student. 21 and my insurance is 1.2k all inclusive of breakdown road accident EVERYTHING. dunno why you r being cunted in a mazda. (Admiral policy btw)
I cant find anything to insure for less than 2k. Vauxhall corsa £2600 suzuki swift sport £2600 and anything beyond that I feel it's a waste of time listing cos I'm not pay9ng £3k plus on insurance but the fact I can only find 2 cars with overpriced insurance rather than severely overpriced insurance is insane
Here in Australia we have compulsory third party (CTP) built into your car registration costs for personal medical cover for injuries or deaths to other people. There is no compulsory car insurance, although we do have the choice of insurance for third party property (which covers damage to other vehicles and property) or comprehensive insurance (which covers damage to your vehicle plus other vehicles and property).
So long as you register your car (which includes CTP) it is up to you whether you want third party property, comprehensive insurance, or no insurance.
Insurance is bonkers. I’m 26, zero claims, zero points, went to insure my 1200hp GTR with everything declared/agreed value and Adrian Flux wanted £9,300. Spoke to a few specialist brokers, and secured a deal at £1,400 - Imagine if I’d just paid the first one🤯
Here in Thailand, it costs $24 usd per year for road tax. That includes full liability insurance coverage for one full year.
My medication costs nearly $200 per month in the states, and it only costs $1 per month in Thailand. It's the same exact medication made in USA.
Insurance companies are criminal organizations that must be brought to justice.
It definitely isn't full liability 😂😂😂😂 it covers next to nothing, don't exaggerate...
@martynrollinson
it's provided by the government. They tell us it is full coverage liability. I don't know of anyone who has made a claim. I do know of someone who was drunk and plowed into a parked truck. He did have to pay out of pocket because he was drunk. It's insurance, so all I know is nothing in particular. LOL
Time for the EU to bully some companies into being good again
Your 1$ medical expence has been subsidised by poor thai people so that uneducated condescending rich foreigners who never invested in thai healthcare can gloat on the internet whilst abusing poor local societies.
EXACTLY !!!
It should be a public non-profit ! As soon as greedy stockholders get involved everything costs 4 x what it should !!!
Other countries allow you to insure the car as opposed to the person individually and it makes so much more sense and saves a family so much more money, that's the way to go
@@blakem2667 yes, that makes insurance so much cheaper. And if someone hits someone here in Sweden, the car insurance doesn’t pay anything. The injured person goes to free healthcare, no need to cover something that’s free? Here you can’t get anything from another person in indirect damage, only direct ie the damages to your hit car/bike/porcelain vase in the trunk.
As a Dutch driver I could never figure out why the UK has such a complicated insurance scam.
In the Netherlands you insure your car and it doesn't matter who is driving it and in what capacity. As long as the driver has a valid license he's insured. Feel the need to do deliveries with your private car? Sure, you're insured. Why should you pay extra because you use your car for deliveries or any other work? We don't know "commercial insurance."
The only reasons I see for this scam is pure highway robbery. English insurers insure you, but have a lot of tiny fine print that explains why despite paying your premiums, you're not actually insured. And next they wonder why so many British motorists refuse to participate in the scam.
Skill of the driver is important IMO especially on UK roads they are narrow and crowded when i drove in Europe the roads are so much more open and empty. Maybe after 2+ years of driving they could be allowed to use insured car plan
I’m 34 years old, don’t have a drivers licence because the cost of the car, insurance, tax and MOT don’t make sense to me - I do have a private pilots licence and the insurance on my C42 aircraft is cheaper than getting insured on my partners XC40
Sounds to me like you need an Insurance system in the UK similar to what we have here in Australia.
Here, we have Compulsory Third Party insurance that any vehicle owner MUST have in order to even Register their car to be able to legally drive on the Road.
And then, we have voluntary Comprehensive Insurance that insures you/your vehicle against accident, theft, fire, flood, etc...
So, with the CTP, if you're at fault, it covers the person you hit and their vehicle, property damage, etc...
with the Comprehensive, it covers your own vehicle.
"Why is car insurance so expensive?" - Simple - because the people of this country don't fight back. They just bend over and take it. If everyone refused to get car insurance, problem solved - but nope. "Moan moan moan, pay it anyway".
You are bang on! Fucking vampires is what they are! I despite them just as much as voluntary camera van drivers!!
While I agree with the sentiment, I think the section in the video with the police officer said a lot, insurance is about covering more than just the vehicles. It's a necessary evil and not insuring your vehicle isn't the way to fight back. It only hurts more people. We need to go after the insurance companies themselves, lobby for lower premiums. Better yet, why isn't there a government insurance policy 'good drivers' can apply for?
Very well said!
Just to be clear, are you suggesting we drive without car insurance? or to not drive?
Completely agree. Exactly the same reason why theres no mobile coverage in the UK. Why would they invest millions of pounds in improving the infrastructure when the monkey still pays the bill every month.
Insurance in the UK is a scam, I pay around 400€ per year for a 2019 golf gti tcr (edit: I dont live in the UK, couldn’t dream what it would be in the UK)
Crazy money
@@MarkMcCann64 covers pretty much everything except for natural disasters
brother in America / US we're paying upwards of 1500 a year for the same car. Enjoy 400 euros. 😭😭
If that is a lot I pay for a 2019 Golf Gti Performance 205 euro a month in Austria
The insurance that you must pay in my country in order to legally drive the car on the road is around 40 quid a year.
Why not just get insurance, without collision? If you aren't insuring the car itself, you should be able to get insurance easily, so you can register it for the road.
When you make a claim against a 3rd party via the small claims courts independently, your insurer gets pissed off and tries to defend the 3rd party. Jokers!!
Insurance companies are pure organised crime. My wife was kicked out by Admiral because "she used her brakes too much". A Porsche Cayenne Turbo has good brakes but is that a reason to cancel an insurance? It's no different in Germany. I've had one claim in my entire 25 years of driving and the insurance cancelled the policy. It took 6 months to find a policy for my BYD Seal and I'm paying €1300 a year! Regulators need to step in.
If you get a quote at (for example) compare the markets, your risk goes up if you do it multiple times. I tried using different IP addresses and got different quotes.
You used a black box cover on a Porsche? 😏👌
The ins/underwriter buys tag reader data that gives them a real view of car use and toll tag data for speeding habits, yes in USA
Regulators under paycheck of insurance companies
@@Manu-Official my wife did. There was a 1000 pound difference in premium.
I got hit by a women who made off. Even though the police had her on traffic cameras driving the car they said didn’t have enough evidence to prosecute her. I paid for my own damage as it would have increased the cost of my premiums more than the cost of the repair.
Similar thing happened to me. They are not interested. Insurance companies are not interested.
@@hyperspace32 but I believe when getting insurance you are still legally obliged to state that you have had the accident even if you didn't claim?
@@davidjhstephens Yes, that's true.
The threshold for the police to prosecute is beyond all reasonable doubt - the threshold for insurance is balance of probabilities. Why didn't you pursue her through your insurers? 🤔
@@davidjhstephens True.
I’m 53 years old, I own my 2011 Renault Megane 1.5 dci estate & it cost me £156 to insure this year, fully comp. This is £4 less than last year with the same insurer.
Full no claims, clean licence held since 1996. I do however hold several licence categories, full bike, HGV & PCV
Insurance is a pure scam.
If you injury, harm or damage property or person, your naturally liable. It's called "law".
You pay because they say you have too, pure lies and decept!
Just to inform you. Here in Portugal are going up also. But there's 1 thing totally different. Has it is mandatory to have insurance, if no insurance company insures you, the regulator by law, forces 1 company to give you insurance for a designated price. So, everyone can have insurance. The UK, should be the same.
What a great system!
If its mandatory then the government should be offering it.
@@donaldv13 offering would be to good😁.
In fact, it's just the opposite with other things that exists. Some taxes are just way to unfair. We pay taxes related to the income of every month's work, it varies between 17% up to 47%, and still we have to pay taxes on everything we buy. Like gas for instance, more than 60% of the price are taxes, it's just crazy and unfair. Just for context. Must people has a pay about 1000€ a month, and a small house costs to buy over 200.000€. just do the math!!!
@@hugosampaio4986 That's why ,''Living off the grid'', is frowned upon
some US states are the same way its mandatory
Car insurance in UK is a scam. i have insured my A4 B7 2.0tdi from 2005 with a company with 1500 gbp/year, fully comp, and then i looked for other companies an Lloyds was asking me for 5k, and Sainsbury was asking me for 7k. its a scam because there is no law to control how much is too much in this country
It’s so bad. In Australia a 2020 range rover sport is $2100 AUD per year (£1050) for full coverage. Your car here would be $700-$800 (£400)
I have 3 Audis one is a limited edition that the insurance considers as premium car, fully comp no claims protected full European cover + recovery - £1100 total. I have a lifetime of no claims though.
So hes paying around the same for his £490,000 car, than my little brother is for his £2500 car
An old bloke hit my car in a carpark last year. All went through insurance and my insurance company charged the other £250 per day for my curtesy car….a vw polo. They are vastly inflating prices so that’s one reason our premiums are sky high.
So true, I feel like this video didn’t tell even half of the story as to why premiums are so high. Injury claim maps for the U.K. are very telling also.
Insurance is a fucking joke. Someone reversed into my parked car the other day, and my insurance company is refusing to pay out... i pay £2,700 a year for a fucking citreon DS4 2.0litre. I'm fucking fed up with this country and I cannot wait to leave
Dude in 3 years of insurance you've already paid out the value of your car for resale, No seriously, start looking for a new qoute, as soon as you find a cheaper on if so, tell your current insurance company your leaving because its a rip off, make sure you speak to some manager, so they can log it, 2 days later you might get an email saying sorry about your experience, heres a cheaper qoute, etc, they take the piss man, 2700 a year is like taking the piss Thats criminal man 2700 and cant act on a small claim is a joke aswell i hope things get better for you
@@RealFinalCionide I look all the time bro, sadly this was absolute very cheapest 🥲🥲🥲🥲🥲
@@RealFinalCionideI'm guessing £2700 is because of his assessed risk to damage other more expensive cars. If the other driver is at fault why isn't their insurance paying not yours?
I mean the sensible thing to do would be stop paying, leaving is quite the step up.
TBH if youre on the way out you can really push things. Got any credit cards? lol
@@Steven-hq3go absolutely no idea. My insurance company is a fucken scam. The guy has even claimed liability yet they've had to get a 3rd party company to try and sort it... No wonder people drive without insurance🤦🏻♂️
Its expensive because its a legal requirement and its (effectively) completely unregulated. In countries where its not a legal requirement, you can get insured on anything AND its cheap.
exactly this
Agreed!
The government has no incentive to fix the issue of insurance prices because most of the insurance premium is tax. Same with fuel. Lower prices means less tax which gives them less money to send to Ukraine and other ways they can launder money into their mates' pockets.
@@alexk2967they are regulated to do the business legally but not regulated to provide sensible and affordable offers. For example FCA will regulate the insurance company to provide their service correctly but do not regulate the fact that a 18 y/o teen trying to insure a 2001 1200cc Mini Cooper have been provided a quote which sometimes 5 folds the actual car value.
@@alexk2967 how much is fuel duty? I have been driving for 10 years. My premium in the last 5 years has only gone up. Clean license and one accident several years ago that I was not at fault for so intact no claims. Despite that, the only time I saw a drop in my premium was during covid. Why don't you explain half a billion pounds in profit
If car insurance is a legal requirement then they need to change law to ensure everyone is entitled to insurance
You are basically a company in the motor trade so why not go for a trade insurance? I've been on a trade insurance policy for over ten years now and never had no problem. When I buy a new motor I just text the registration and it goes straight onto the database so no hassle with the ANPR cameras. The only problem I can think of for you is they give you a maximum for the value for your vehicle. My maximum value for the vehicle I can drive is £250 000 (Not that I could ever afford to drive a car of that value) Take care people 👍👍👍
Finally someone in the UK has said and proven the truth, this is car insurance fraud, it has a negative impact on people preferring to stay at home on benefits! Why is insurance in Poland for every citizen and for every budget? The car is worth two thousand and the insurance is seven thousand! Someone needs to stop this and it needs to be publicized so that everyone understands that it's a scam!
The only people that can stand in and do anything about it won't, because they are all bought and paid for by big business.
The carprice is irrelevant, you are paying for what people put on road and the history of drivers with your car. If the UK has a lot of 30k+ cars on road its more expensive. If your car is known to be involved in a lot of crashes (typical VW Golf) its more expensive. Probably should look for cars that are not as much on the road like Alfa Romeos that have pretty good history because people how line the Brand treat them well
@@youtuber9971they also charge u more fore not working, or won't insure you.
The important point is to read the policy document. I got burned when it said that if a car is 'written off' they keep the rest of the premiums. So there is more incentive in them to write-off the car, then repair it.
This is the government ridding private car ownership to the public. banks have started to refuse bank transfers automotive related.
Refusing bank transfers doesn't sound believable, probably just fraud protection or not true
WE SHOULD HAVE REGULATIONS IN PLACE SO INSURANCE COMPANIES CAN’T OVERCHARGE US
This country is run by corporations. They lobby government. It does n 't matter which political party.
They keep saying the rich should pay more taxes, but what they mean is the plebs to pay more taxes.
I believe the goverment takes a piece from the cake so they wont have regulations.
Yeah need to have a cap and regulate by the authorities etc like energy.
Cool, I hope you like either not having insurance at all because they quit offering it, or you'll get so little in coverage it won't be worth it.
Guess we should all take public transportation and live in pods. Sounds like the way we are being forced without actually being forced by laws.
"You will own nothing and be happy"
Its just the upper class yet again trying to milk the lower and middle class of every penny they own.
There is a lack of competition. Companies take over one another and there are a fewer and fewer players. It has happened in the US. It is happening in the UK.
This is not about competition.
Competition may apply for example for TVs. We don’t necessarily need TVs, but we do need insurance as it is a legal requirement.
Insurance companies know we have to pay insurance. It’s probable that they are colluding together to raising the prices and making millions of profits that you see. It’s basically extortion.
Same applies for energy, water etc.
The reality is, they are the only industry who are allowed to apply prejudice to justify excessive pricing on insurance. It’s only excessive because it’s a legal requirement.
Poland - one year of basic insurance for 1998 passat B5 - 70£ a year.
Netherlands - Skoda superb nov 2019 full cover 13 years no claim - from 550£ a year
soon in uk you will have insure air in toilet
this shit should be illegal. If its illegal for me to drive whiteout insurance, it should be illegal not to insure me when i ask for it.
if any other company discriminated by age / gender they'd be shutdown so quickly its insane
In Australia, in some states, Insurance is not compulsory. I used to be a no claims customer, comprehensive, however due to increasing costs, I’ve opted for Third Party Fire & Theft which is only slightly cheaper.
One company goes up so another see’s them go up so they say hey we can too lol. So then another and another . Greed ! There’s no reason every company should go up on prices other than greed
When I renewal went up (doubled) before ringing I checked online and every result was the same. I rang up and they only change 7% more. It’s a complete racket.
I suppose it must be hard getting insurance for a Lambo as loads of people are driving them .😂
TOP TIP - For comparison sites don't make too many changes one after another on the same account. Use an incognito window and a different email address. I tested quotes by changing mileage and occupation to find the best price and after 10 changes my original quote setup (mileage, occupation etc) had jumped up by £500. Using a few different email addresses and a few tweaks I got it down by almost £500.
Insurance is a scam. Just take a look at what their executives get paid, including bonuses. No matter what, our premiums go up every year, even if we don't claim. And, guess what, it's way over the inflation rate.
I've driven nearly 20 years, never had a bump, never made a claim, never got a ticket and my 15 year old jeep is nearly 800 to insure... It's obscene
Ive just changed from a petrol mondeo titanium x sport to an octavia vrs and my insurance company wouldnt insure me. I'd been with them 10 years, no claims at all, clean licence, 3000 miles a year same address, same job. Im 65. Its absolutely ridiculous
Just shop around, use comparison sites which you should be using every year anyway instead of just using the same company.
@Steven-hq3go I do. Hastings had been the cheapest I could find for ten years. Thats why I was shocked they wouldn't insure me for the Skoda. And obviously I shopped around for the cheapest quote to get new insurance
Another point you’re missing is your website cookies EVERYTHING is tracked so if you search over & over again they end up just giving the same quote or higher. Always use private browsers, vpn etc
Drive without insurance. Simple’s. Car insurance companies don’t get it, the more they charge the more drive without cover.
26:05 Almost hit my head on the table dodging that ball! 🤣🤣🤣
Uk insurance companies have always conned the motorists in the uk.
If you look back over the last 50 years, the insurance companies have used loads of reasons to put insurance policies up.
First it was to many keys fit the same vehicles, then it was key fobs, immobiliser, then alarms, post code, area you live in, then age, keyless entry, that vehicle is stolen a lot etc…
Now insurance companies don’t even send out assessors, they go by photos for crash vehicles. Going on a dealership to fit the vehicle. They will never use local small garages, even tho most dealerships farm the body work out to them local small businesses to fit them.
So instead of dealing with a small local business that could repair the vehicles at a third of the cost of a dealership they right the vehicle off. Then every one’s policy goes up.
As for young drivers this is also another big con. Because if you goto Europe young drivers are not charged over the odds by insurance companies. Yet in the uk, young drivers are completely victimised by insurance companies.
Most insurance companies in Europe are subsidiaries of the British insurance companies.
Years ago an mep in Germany did a test, getting two people one in the uk and another in Germany, both the same age, both passed their test in 5he same week. The German went to a Mercedes dealership got an A class drove out with it on the same day, had insurance by a British insurance company subsidiary. The British person couldn’t get any insurance at all.
Insurance in Europe has not gone up, like it has in the uk. Because the uk is subsidising Europe. This is very clear.
Then you come to how vehicles are stolen, in Europe the vehicles can quickly be stolen and out of the country because of the roads systems. In the uk they get out via a port. But ferry ports are not forced to have anpr cameras or check vins for a vehicle leaving the uk. The same with container ports in which 85% of vehicle get out of the country. The insurance companies and police are not forcing these ports to do proper checks on the vehicles going in containers or leaving via a ferry. They just up the costs on the people who have to get insurance for their vehicles instead.
Insurance companies never deal with the problem.
The police also help the insurance companies by policing the roads, on their behalf. Blaming someone that has no insurance is not the problem, the problem is the insurance companies over charging for insurance. Those with no insurance driving on the roads is about 2% of all those driving on the roads. The copper in this video is just try I goto justify the police going after those without insurance, which is a waste of taxpayers money. As most towns have anpr cameras on entering them, so no need for the police to waste time driving around trying to get them. When a town has anpr cameras, then they could let the police know.
In other countries insurance is only on the vehicles no matter the drivers. But in the uk insurance is done on the driver and the vehicle.
Insurance should be fixed in price set at a max going on the value of the vehicle so vehicles under £50k and drops from that point, for example max insurance for a car should be £1000 per year, and drop year on year. In Europe the average is around £500 per year. Motorcycle should be max £500. Vans max £1000 per year.
An the prices should be set every two years within the government’s budget. Then insurance companies cannot keep ripping the uk motorists off.
correct police officer's reasoning does not justify why insurance is so expensive as other countries will have to deal with the same issues if a vehicle crashes but the insurance prices are no where near as high and they do not insure the driver and only the vehicle.
Get a motorbike , insurance is brilliant ,cheep budgie cheep
Maybee uf they investigated comp claims thry wldnt be in this mess .
The main reason that motorists get slammed is that its mandatory for driver to have it. Public Liability is the same. They load their 'losses' onto any insurance that's mandatory. Look at a general travel insurance policy. I have an annual European policy with pre existing medical stuff, with £15m cover, and i pay £60 a year.
Im sure that US car insurance is liability based? Any US friends please confirm.
@@Crosshatch1212 sorry to say wait until it gets stolen. So many that have never had an issue for years, then there 600cc plus bike gets stolen, and they cannot get insurance on a bike above 350cc.
Insurance has gotten ridiculous here in the States as well. A few months back, I got a nearly new 720S with a half a million dollar MSRP, and Hagerty refused to insurance it even though all my records are clean. I had to get another company to insurance it. This of course costs more since the McLaren is on a policy by itself separated from the other super cars! Hagerty stated they will be happy to insure the 720S after one year ownership. Translation "We want to see if you'll crash your car in the first year. If you don't, then we think you know how to drive it and we will insure it...!"
That seems reasonable.
I've jumped through these nonsensical insurance hoops every year for car and bike insurance. They know we play with the options, we know we play with the options, why bother other than to frustrate buyers?!
Crazy. I do NOT drive a fancy car, but I pay around £300 annually for my 2008 Volvo V50. Fully covered. Conditions: Max 8000 km/year & only drivers above 25, still allowing my 20 year old son to use the car as long as he lives in the same house. This in Norway.
I am in the UK and drive a v50, £200 a year, and its only £20 a year road tax.
One of the reasons why insurance has increased so much is due to electric vehicles. Most insurance companies tend to write these cars off because there are not enough specialized repair centers to repair these vehicles in the country. Most of these vehicles are designed as skateboards, where the battery pack is the main structure of the vehicle. As soon as there’s any damage to any other structure, they just write it off. As you are aware, many of these vehicles are very expensive, and insurance companies need to cover the full price of a new vehicle. As a result, everyone else gets penalized. An insurance company is never going to take the hit; it’s always going to pass it on to the rest of its customers.
Nah it's just a new convenient excuse for them 🤷🏽♂️ insurers have always been eager to write vehicles off & repair prices when through insurance have always been significantly higher than they should be...
I’ve just amended my car insurance from parked in a locked garage to public road after watching your video and got a refund of £130, I’ll happily park on the street outside my house to save a bit of insurance money! Thanks mark
And this example shows how insurance is a scam misusing statistics in their favour, but never in customer's favour.
Because they say if someone was to rob your car they know where to find the keys cause your cars in your garage where if its in the road they wont know what home has the keys to
the car silly i know!
It's just a way of saying:"Your car is your problem. We don't want any part of it."
One of the issues with insurance is these companies offering hire cars in a non-fault accident. The Mrs’ car was hit on a roundabout and was given a hire car for 3 months. The cost of the repair was about £5k but the cost of the hire car was £9.5k!
Some extra tips a friend in insurances gave me.
- street outside home. (Because if you had a house fire it wouldnt get damaged, where as in a locked garage it would)
- set the start date 21 days in advance (thats the absolute sweet spot.)
-millage also goes off your occupation, so camera man who does 8000 miles a year, may seem like hes not getting a lot of work, or maybe youre getting paid more to do less.
Also its about time spent in the roads if you do 20k a year, thats a chance that every extra mile you drive may cause damage, have a crash or worse. So you need hit a good inbetween, i usually go for the 5-8k miles.
-occupation, you want to go for the one that describes your job but with the least risk, the least chance of crashes, theft, breakdown etc . Its a insane.
But try those.
But what occupations
@@darrenstango9376journalism
@@darrenstango9376i think money saving expert has a page which compares the average premium for different job titles. Worth having a search for that.
For the occupation, if I insured my motorbike as a chef it would be double the cost of insuring it as a care home worker. I'm one of the cooks in a care home so I tell my insurer the latter as its not a lie.
It's also easier to steal if it's at your house - they know which house to break into to get the keys etc - in the street they don't know which house the car belongs to.
Put the cars in a company name and get it insured as a business car, which it is as you use it to generate income.
Exactly - I’m surprised he’s not had a poke by the insurance companies before as they are being used for commercial purposes
The entire car insurance industry needs better regulation, some of the quotes people are getting are criminal, there's no wonder there's so many uninsured drivers.
I have been a minicab driver for 23 years. I have been forced to retire due to crazy insurance premiums. Car has been returned to the finance company.
Just drive an older used car, not new leased
Its a scam. After 4 years fighting my insurance company after somebody crashed into me 50mph head on im still injured and was forced to take £5000 otherwise i was liable for court fees over £20K i'm still injured and pay for my own physio regular. Lost well over 10K in the process with time off work and expenses i never claimed for, all i wanted was my injuries fixing. They refused to pay for more treatment and scans so i tried to claim for my losses but i never had a sick note as im self employed so that got rejected and my private physio isn't vat registered so i couldn't claim anything. I'll never be the same my back, hip and neck/shoulders hammered but im full of shit apparently (solicitor said its just wear and tear on my body). The oppositions insurance must of been a sister company to mine or visa versa because they had no interest in fighting my case they gave me all the wrong advice or lack of it and got funny with me multiple times after calling out their BS.
Most insurance companies are underwritten by 3 or 4 financial companies, yes it's a massive scam industry that's worth billions for them.
I'm the same as you fractured my neck and back and my skull and like you say they say i full of crap, so I know how you feel.
You can get a backdated sick note from your gp based on your medical records they don’t care about your employment type. It might be useful still look into it.
I suspect the lawyers on both sides did well out of this. They are on £450per hour. They rather spend money on lawyers then paying for injuries. Just look at the Post Office scandal. Millions spend on lawyers, but pay-out to sub-postmaster is still lacking.
I fought with my solicitor for years because they wouldn't believe I was still suffering with my injuries, and they kept saying I'd had a previous back injury. It wasn't my back that was injured in the crash, it was my neck. The problem I had before was my rib area, GP put under scapula (shoulder blade) for some reason though instead. None of the solicitors that handled my case could understand that a scapula was a shoulder blade, not a neck. I gave up on the claim, they were valuing it at £1000, crash was back in 2013, just wasn't worth the hassle or stress in the end. Learnt a lesson though, if it ever happens again, to choose an independent solicitor not the insurance recommended ones.
Ideally the NHS should be handling everything medical related. Your still entitled to compensation for an injury that wasn't your fault of course
Your broker failed you, using niche companies to save you a few quid.
That being said. Christ you did a brilliant job on this video.
We’re all being crushed and squeezed for everything constantly. My L405 SVA and 8 series have gone up a lot.
You do so much for us car punters, exposing these shysters. Thank you.
We are very fortunate here in South Africa when it comes to insurance. The insurance companies are calling us non stop to do business with them.
Your premiums in the UK are crazy.! I pay the equivalent of 130 Pounds a month for a G42 BMW m240i.
£130 a month is a lot for the average South African
@@Steven-hq3goit is worse when you drive a VW hatchback 😂😂
Insurers jumped on the back of almost every other consumer driven service provider and ramped up prices for profits... and we all take it. Food, energy, rent, mortgages, utilities... all trying to bleed you dry. No doubt in preparation for digital currencies. It's easier to implement if no one has any money to convert.
Net Zero is what you'll have by the time they're done with you.
The correct term for this phenomenon is 'enshittification'.
By law, companies are forced to min-max profits for shareholders so everything gets more expensive and worse at the same time. This happens in pretty much every corner of the economic spectrum. A prime example are supermarkets. Crying about increasing prices, having to increase prices themselves to stay afloat -> x2-x4 EVERYTHING in price over a few years, make record profits year over year and STILL blame consumers for buying less and less.
Its pathetic.
Yep, more more more. I guess it will go pop at some point
But still... It works right?!
There are always consumers who will keep consuming.
What's the exit strategy then?
@@peterkater4292 There isnt one. The focus will shifts towards the more wealthy consumers who don't care about a $5 burger or a 10$ burger. You don't need to sell as many burgers anyways if people are willing to pay double.
Poor people will stop buying luxury items first (Tv's cell phones, PC components, brand clothing etc etc) and will also stop eating stuff like meat, eggs, fresh veggies as those also shot up in price and theft will rise as more and more people can't really buy food (Or make bad financial decisions)
IMO the biggest problem we have rn is the gap between the poor, the middle class and the elite. Poor and middle class are awfully close in this day and age, with the elite far removed.
Normally, you'd have emerging companies who'd offer competition and force companies to either focus on service or pricing for client retention in order to keep their market share.
Inflating housing prices and rental prices have literally priced small shops out of cities in favour of empty shopping street that now only house a few big name stores. You simply cannot make money in an actual store currently, the overhead is too high, the crime is too high and there arent enough people outside walking by your shop.
You can thank companies like amazon who bled money for almost a decade for this. They've successfully eliminated competition and have gained a dominant (Monopoly) position in online shopping. Expect prices to go up there also.
Totally agree.
The part on the middle class is hurtingly true!! And on any continent you can think of...
@@peterkater4292 Yep. I hate to say it, but theres no way around economic collapse.
I expected this to happen in 2022 if I'm honest when prices started to rise exponentially. But I guess I was wrong on that front =P
I've watched car channels for over a decade. Love the informative nature and not-shouting in your videos. And thanks for not clickbaiting us.
Insurance companies have a legal right to print money.
I was having this conversation with a mate the other week. For a laugh I though I'd get some quotes and see what they'd charge me. For my mates shitbox 1.2 fiesta £1.2k (For him it was £1.4k), for my dads 2.0 Astra £1k. There's no rhyme or reason to it, I swear they just pull a figure out of a hat.
ive done 2 quotes back to back exactly the same for my 1.6 astra (im 17) and had just under a £300 difference. think youve got it spot on mate
Start your own insurance company 😎
Start insurance company
Make prices high, but if you don't claim by the end of the policy, you get 50% of the cost of the policy back.
Encourages good driving, gives the insurance company the needed collateral to run and deal with existing payouts, gives customers cheap insurance. Everyone wins.
I'm really surprised this business model hasn't taken off.
Got a quote other day for a cheap runner.
2009 Golf £2,000
22 years old no crashes etc
Without a black box £5,500 annual
Well over 2x the price of the car is madness
Majority of the cost is based on driver risk i.e. the potential to cause damage.
@@4879daniel 5500 is a joke no matter how bad of a driver you are.
@@mathiasnkristensenyea that’s ridiculous, even in the US here if I were to get added to my parents insurance (2million coverage) it’s only 3600$ a year.
It doesn’t always matter if you are a bad driver. If you live in an area with lots of claims you pay more. They factor in everything.
Feels like you poked the bear when they refused to re-insure. You cant have a law that says insurance is compulsory and then have them refuse to cover.
I spoke with an Insurer recently and she told me that a Tesla had been written off because they couldn’t get a replacement window and that 120 Range Rovers are stolen in London every day. There’s no wonder why our premiums are going up!
Bwahahahaha. 120 a day... that would be nearly 40,000 a year you joker.
my renewal was £2.1k. slightly up from £750 I paid the previous year. 39 year old with 19 years NCB and no change in circumstances!! lovely!
38yo, 13 NCB, 2 ACCIDENTS IN LAST 3 YEARS (not my fault - still - 4 cars written off in total), also 2nd driver 29yo with green licence - Last year 541.56, this year 628.68
Fully comp and that includes extras FULL RAC, Hire car, and 20% for paying monthly.
Few quid a month extra.
one big thing that i have discovered, especially for us younger/new drivers, is a multi car policy. it's essentially a group of different policies under one, where you might have your car insurnace, parents, house insurance etc, and almost as a reward for having all of the policies under one company, the price is significantly cheaper. I think my first year of driving, switching to the multicar policy after about a month, got me somewhere in the region of a £200-300 refund. it's also made my insurance on my current car a lot cheaper for my first and second renewal, and i imagine it'll do the same when it comes time to renew again
We've just insured our 2003 Ford focus Estate 2.0l that we bought from new, with our son as the insurance policy holder so he builds up his NCB - just past his test. We still own the car, and are the registered keepers. The premium being around £1300. If we transferred the ownership to our son, the premium would have been £3700. Perhaps if Mum or Dad, own the car it is an extremely good idea.
Funny story regarding insurance over here in Germany. A mate of mine and I (19&20 yo) have been thinking about getting ourselves our first cars this year and had a dabble in the car insurance plans yesterday. Both with the same insurance company.
We found a few differences in what the car, parents, jobs, vehicle owner, time of no claims and such make.
What started as just messing around to see what changes what in the price ended in us testing the same car with our own personal data. Only to find out he would pay about 800€ less than me for his insurance. Bearing in mind I've had my license for just under a year longer than him and being a year older.
We then tested the same car on the same website with the exact same data at all points (even date of birth, parents, occupation etc.) and it still made a difference of 400€ in his favour. With no difference except the browser running on a different pc elsewhere.
I have absolutely no idea how that makes any sense. But I guess that's insurance for you....
Try making your info on his computer
@@Eingefallen that's basically what we did. He just put the info I had in on his computer
@@moba_noobif you keep running quotes, the premiums rise. Try clearing your cookies and do not needlessly look at quotes otherwise they will increase
@@toby7647 thanks for the tip!
Love these videos mark. Very interesting. Keep up the good work.
Thank you, we love making them and learning about the industry
@@MarkMcCann64 We need a guy bringing our headaches to the forefront! Thanks Mark 64
Mark there is much more to it than your expert said and many more reasons - I’ve been doing super car insurance for over 25 years. There are specific policies for CZcams’ers. Including the foreign visitors who have cars here, I offered to do the DDE SVJ but no reply
I just came back from Shanghai and they have brilliant public transportation. The bus cost 10 pence and arrives every 10 mins. The subway cost 10 pence and arrives every 10 mins. Roads are large with dedicated cycling/ walking lanes. In Shanghai you can travel easy on a bicycle. In the uk you will get ran off the road by a chav in a uninsured vehicle for fun.
To my brother from another mother, register the car in a different country, cheaper country. And then insure it for peanuts in that country.