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Discussion Forum - The Bothy - Rant of the day


Author: Steph Carter
Posted: Thu 18th Oct 2012, 1:32
Joined: 2011
Local Group: North Yorkshire
Really Sorry to hear this news Tony, I can imagine your frustration.
I sense the Insurance Industry is about to go though more turmoil than they imagine. They are already gearing up for having to drop differential premiums between the genders ( at the end of this year I think) as they can no longer legally charge a male a higher premium than a female of the same age. While that might be great for 18 year old lads who play huge premiums...they will see their premiums drop, it is not good news for 18 year old females, who are statistically lower payout risks than same age males, and until now have enjoyed a lower premium than higher risk same age males. Seems a crazy change to me as if females make less claims they should surely play less premiums ( but I would say that with daughters 19 and 22!)
This could be the thin edge of the wedge. Just like lawyers have successfully argued that Insurers cannot discriminate against 18 year old males (by charging them higher premiums on the basis of their gender), anti age discrimination laws can equally be argued as a reason not to charge people of different ages different premiums... and sooner or later some lawyer might. While this might seem a great idea at first glance, it probably isn't. What would happen is that whatever your age and gender you would pay the same premium.... so a 55 year old would pay the same as an 85 year old and an 18 year old. Only the 18 year olds would benefit- as they would see their premiums drop, while the older members of the population ( and statistically the safer drivers) would see theirs rise. So you might be able to get insurance in your 80s more easily, but everyone over 30 would pay more for it.
This would have a second consequence. Driving for the 18 year olds would immediately become more affordable... so there would be more of them, and, as they are the unsafest drivers accidents would increase as a result, meaning a second round of premium increases for everyone. Lets hope this insanity does not come to pass!
Author: Peter Steckles
Posted: Thu 11th Oct 2012, 19:48
Joined: 1998
Local Group: East Lancashire
interesting thoughts...?
I really feel for you on this one.

I did a spot of Googling, as is my want, and amongst others, came across the article above.

I find the article interesting, as I said in the link title, but the comments are far more worrying...

Perhaps you had better not read them. They depress me.

When my Father stopped driving at aged 80 (RAC/Axa (with whom he had been for a good number of years), raised his premium to just above 18 year old levels...) he picked up a bus pass, and almost wore it out... He was better off financially, but was restricted in some of his activities as a result of the vagaries of the privatised public transport system.

There is a review of the motor insurance industry in the pipeline, but, as with the banking fiasco, don't hold your breath. If you try to fight it, you will perhaps become stressed and angry. That will not help. Find a way to make it work for you, and keep walking ...!!!

Regards
Author: Tony Willey
Posted: Thu 11th Oct 2012, 14:49
Joined: 1989
Local Group: Lakeland
As I get older I am increasingly aware of the hurdles that The System puts in the way of older people to make life more difficult. A few years ago we had to leave the travel insurance company that we had used for many years because they simply refused to quote for worldwide cover for anyone over the age of 65. It mattered not that we were fit and well and had not made a claim in many years. Since we have children and grandchildren living in the USA world wide cover is essential and we had to spend a lot of time finding alternative cover - at a higher cost of course.

I am now approaching the magic(?) age of 70 and the other day renewed my driving licence online. Part way through the process it informed me that my D1 minibus licence could not be included. Further investigation revealed that a full medical exam and doctors certificate (cost £85) would be needed to renew the D1 licence. I only use the licence to drive a body wagon on the Hundred and from time to time on other LDWA events, but thought it might be worth spending the money.

This became irrelevant when I further discovered that the company being used to supply the minibuses next year will not allow over 70s to drive them anyway! No doubt other companies have a similar restriction. So I can walk a hundred miles(my entry for the Marshals Hundred went in the post this morning) but I am too old and doddery to drive a minibus. Grrrrrrrr.

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