Insuring a Hybrid

[Haliotis]

In cases where the repair costs are significantly higher for certain cars, if the insurance companies really want to charge fair premiums, here is a suggestion for them.

Set the premium as for what they would call a “normal car” and advise the proposer of maximum repair costs for typical repair work.  Then give the proposer the option to accept this and, in the event of an accident, the proposer would pay the extra repair costs himself/herself, where it was an “own fault claim”.  In the event of a no-fault claim, the other party’s insurance would pick up the costs anyhow, although if that party had chosen the “economy premium” then they could be required to pay any excess repair costs.

This arrangement would be much more fair, because no driver expects to have an accident.  The current procedure to charge in case of an accident, and then not having one, is grossly unfair.

 

[Big_D]

3 hours ago, Haliotis said:

In cases where the repair costs are significantly higher for certain cars, if the insurance companies really want to charge fair premiums, here is a suggestion for them.

Set the premium as for what they would call a “normal car” and advise the proposer of maximum repair costs for typical repair work.  Then give the proposer the option to accept this and, in the event of an accident, the proposer would pay the extra repair costs himself/herself, where it was an “own fault claim”.  In the event of a no-fault claim, the other party’s insurance would pick up the costs anyhow, although if that party had chosen the “economy premium” then they could be required to pay any excess repair costs.

This arrangement would be much more fair, because no driver expects to have an accident.  The current procedure to charge in case of an accident, and then not having one, is grossly unfair.

 

Brilliant idea. BUT, how would the CEO of the insurance company afford to buy his new third/fourth house without the bonus he will get because of the HUGE profit the insurance company made by ripping off us poor motorists?

I still think there is a lot of profiteering going on. It's illegal to drive a car without insurance. As this is a legal requirement, surely the Government should be able to step in. Unless of course, they are trying to force us out of our vehicles and onto public transport.

I get a letter from the local council at least once a year with a survey about how many vehicles there are in the household, how often we use them and why we don't use public transport.