NickFrog Posted July 30, 2010 Report Share Posted July 30, 2010 On confused.com, if I get a quote for a 04 986 2.7 manual with a value of £12,000, the cheapest comes out at £480.An 05 987 2.7 with a value of £15,000 but all other parameters being equal, comes out at £360 with the same excess and from the same companies.Any particular reason ? Link to comment Share on other sites More sharing options...
Purdie Posted July 30, 2010 Report Share Posted July 30, 2010 Good question Nick and one to which I don't know the answer.Anyone know why my 18 year old son's insurance drops by £300 when I add myself as a second driver despite the fact that I probably drive his Corsa for 10 miles a year? Link to comment Share on other sites More sharing options...
mike597 Posted July 30, 2010 Report Share Posted July 30, 2010 It reduces the average risk, the mathematical modelling behind the insurance premiums aren't that clever to establish that you drive substantialy less miles than he does or establish the balance of risk associated with the miles covered. I guess it just has a default weighting behind the main driver / secondary driver of 70/30 or 80/20 or something.If they asked how many miles each driver would cover rather than how many miles the car will cover each year they could model it more accurately but I guess there's not a point to that for them.If they really wanted to be accurate on the risk they should ask the number miles covered per driver, the typical hours of the day driven etc.e.g. I have heard of some policies being offered for younger drivers that prevents them driving between 9pm and 7am or similar as the majority of accidents for young drivers occur at night. Link to comment Share on other sites More sharing options...
Purdie Posted July 30, 2010 Report Share Posted July 30, 2010 To be honest I knew that MSG.But it just goes to show how imperfect the idea of risk modelling is don't you think Link to comment Share on other sites More sharing options...
AEROBILL Posted July 30, 2010 Report Share Posted July 30, 2010 Good question Nick and one to which I don't know the answer.Anyone know why my 18 year old son's insurance drops by £300 when I add myself as a second driver despite the fact that I probably drive his Corsa for 10 miles a year?Put your wife (assuming you have one) on too and it will go down further- same principle! Link to comment Share on other sites More sharing options...
Purdie Posted July 30, 2010 Report Share Posted July 30, 2010 Good question Nick and one to which I don't know the answer.Anyone know why my 18 year old son's insurance drops by £300 when I add myself as a second driver despite the fact that I probably drive his Corsa for 10 miles a year?Put your wife (assuming you have one) on too and it will go down further- same principle!You don't know my wife Link to comment Share on other sites More sharing options...
AEROBILL Posted July 30, 2010 Report Share Posted July 30, 2010 Good question Nick and one to which I don't know the answer.Anyone know why my 18 year old son's insurance drops by £300 when I add myself as a second driver despite the fact that I probably drive his Corsa for 10 miles a year?Put your wife (assuming you have one) on too and it will go down further- same principle!You don't know my wife 'nuf said! Link to comment Share on other sites More sharing options...
mike597 Posted July 30, 2010 Report Share Posted July 30, 2010 To be honest I knew that MSG.But it just goes to show how imperfect the idea of risk modelling is don't you thinkI guessed you knew that based on the context of question but I wanted to highlight how I feel the modelling of insurance premiums is so flawed.I'm guessing they have to have a fairly crude model because otherwise it would take a week to fill out an application form - if they really wanted to know all about you and your risk profile they'd need to ask a lot of questions about what your hobbies were etc to determine what you were really like!It clearly works as is anyway commercially so why change? Link to comment Share on other sites More sharing options...
mike597 Posted July 30, 2010 Report Share Posted July 30, 2010 Back to the OP - is an 987 the same insurance group as a 986 ? Sometime newer models are lower insurance groups due to better safety features, better brakes etc. Link to comment Share on other sites More sharing options...
David Lockhart Posted July 30, 2010 Report Share Posted July 30, 2010 what happens if you say your 986 is worth 15k? I think that may have something to do with it or the age of the car? Link to comment Share on other sites More sharing options...
NickFrog Posted July 30, 2010 Author Report Share Posted July 30, 2010 what happens if you say your 986 is worth 15k? I think that may have something to do with it or the age of the car?Good idea but it didn't work. Value did not affect price either way.Same ins. group.I can see the logic in the 987 being safer with PSM as std. The irony being that the 986 in question also has PSM...Yet another nail in the 986 coffin really. Link to comment Share on other sites More sharing options...
neil.c Posted July 30, 2010 Report Share Posted July 30, 2010 It could just be that they have more data on the 986 (no suprise as it is out of production now), the value of claims and number of total loss claims is likely to be higher on the 986. Link to comment Share on other sites More sharing options...
haggisandchips Posted July 30, 2010 Report Share Posted July 30, 2010 Is the modelling really that flawed or is it simply trying to model something that cannot be modelled due to lack of data.In terms of second drivers, you could claim and "sign up" to split driving 50/50 but in reality split it 95/05 - but if an accident ensues how can the insurance company prove that you have broken the agreement without undertaking a costly and error-prone (at best) investigation. They can't! So risk modelling is all about what works commercially rather than what reflects reality.Not arguing against anyone as it sounds like everyone is signing from the same songsheet but in reponse to the OP ... no idea, weird!!! Link to comment Share on other sites More sharing options...
AEROBILL Posted July 31, 2010 Report Share Posted July 31, 2010 Another aspect that's taken into consideration is how much the car costs to repair after a knock. Could it be that replacement panels etc are more expensive for the 986? Link to comment Share on other sites More sharing options...
bodster2008 Posted July 31, 2010 Report Share Posted July 31, 2010 Another aspect that's taken into consideration is how much the car costs to repair after a knock. Could it be that replacement panels etc are more expensive for the 986?As above modern cars are cheaper to repair and dismantal,wings made of plastic,bumper from old egg boxes etc............ Link to comment Share on other sites More sharing options...
Araf Posted July 31, 2010 Report Share Posted July 31, 2010 I would think that the anti-theft features are probably harder to overcome in the 987, as well. Link to comment Share on other sites More sharing options...
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