Sad news... but...

[dimebars]

4 minutes ago, Stuart21UK said:

my claims against 3rd parties involved a Cayman and Boxster as loan cars and one was £250+vat per day...the other IIRC was £300+vat....one for almost 3 weeks, the other 2....

They might only authorise a standard small hatch though

And this is the issue

 

As a customer off the street booking in advance, you could hire a similar car for a fraction of the price. But because the insurance co is picking up the tab, the price becomes inflated

[½cwt]

3 minutes ago, Stuart21UK said:

my claims against 3rd parties involved a Cayman and Boxster as loan cars and one was £250+vat per day...the other IIRC was £300+vat....one for almost 3 weeks, the other 2....

They might only authorise a standard small hatch though

For a claim on your policy, yes. For a third party claim where you are at fault, no, or at least yes but with a compensation payment for loss of use of the specification of vehicle damaged.

[mike597]

15 minutes ago, Scubaregs said:

Thought by law retailers had to display prices?

floral display are custom products so not subject to the same laws. same flower for a wedding display will cost 10x what it costs to buy as a single stem or in a regular display

[½cwt]

31 minutes ago, mike597 said:

I don't agree they are being screwed, they are being asked to pay a set price and they are agreeing to it.  They have other options, they choose not to take them.

 

I'd wager 8 out of 10 people don't even know they should challenge the first offer by the insurer which is my point about them being screwed.  The insurer is using their ignorance to make a profit even if they are the no blame 3rd party....  Yes I appreciate that their responsibility to their investors and shareholders is to reduce the claim value where possible.  It is the clash between 'equitable' and business.

[EVO Chris]

1 hour ago, mike597 said:

In one way I agree but in another I don't agree.  All businesses will generally try and charge the maximum for their product they think the market can bear whilst keeping good turnover of the product. Pricing is a complex science for some products with strange human psychological inputs at certain points in the pricing curve.

I expect the insurer to try it on, I expect to call them and say 'really, is that the best you can do?' and I expect them to them find a 10% or so discount out of thin air.  It's a game and one I'm not really worried about playing with them each year.  

 

It does become a complete ball ache every year, some my own fault as I have 6 vehicles (cars and bikes). If they just gave me the same price as the compare websites in the first place we would not have to keep playing their games. I have come to the fact that out of principle I will change every year, I have ended up going back and fourth to the same insurer every 2 years for one of my bikes as they offer an introductory discount so it ends up cheapest.....again. Yearly I must save £500 by doing this on all my vehicles.

[mike597]

6 minutes ago, ½cwt said:

I'd wager 8 out of 10 people don't even know they should challenge the first offer by the insurer which is my point about them being screwed.  The insurer is using their ignorance to make a profit even if they are the no blame 3rd party....  Yes I appreciate that their responsibility to their investors and shareholders is to reduce the claim value where possible.  It is the clash between 'equitable' and business.

but again that is where we disagree, it's not whether they should challenge it or not that is the point, it is whether or not they are happy with the price.  If they are happy with the price they pay it.  if they are not happy with the price they should say so.  Perhaps it's the british trait to be too polite and not say?

 

[highsider]

Just to add to the mix, we always challenge insurance quotes we receive by getting the companies to compete against each other... we normally save a bit, but it does take time and sometimes question if it has been worth the effort.

[½cwt]

Just now, mike597 said:

but again that is where we disagree, it's not whether they should challenge it or not that is the point, it is whether or not they are happy with the price.  If they are happy with the price they pay it.  if they are not happy with the price they should say so.  Perhaps it's the british trait to be too polite and not say?

 

My point is they don't know what the fair price is and they don't know they CAN challenge it.  They think they jut HAVE to accept it whether they are happy or not.

[½cwt]

Just now, highsider said:

Just to add to the mix, we always challenge insurance quotes we receive by getting the companies to compete against each other... we normally save a bit, but it does take time and sometimes question if it has been worth the effort.

Have to admit I did accept my Boxster renewal this year.  Last year was £245, this year £213 with the same insurer so figured it was not worth the effort. so in this case I was happy (@mike597 😉).

[mike597]

10 minutes ago, ½cwt said:

My point is they don't know what the fair price is and they don't know they CAN challenge it.  They think they jut HAVE to accept it whether they are happy or not.

That is a fair point but I'm afraid I don't have much sympathy with people who just roll over and pay what they are asked to pay every time without any idea of value or worth.  I know some people just CBA with the negotation and would rather pay whatever for a quiet life...not me !

[Scubaregs]

I love negotiating for cars, bikes etc. I've even negotiated in high end Jewellers in Barbados for jewellery and watches, including Lynn's engagement ring which meant she got a much better stone. Others are not comfortable doing so and therefore can end up paying more.

Agree anyone who doesn’t shop around for insurance is doing themselves no favours, however I hate that insurers "try it on" which is precisely what they do. It is unjustifiable to quote a renewal price higher than the online price on their own site and practices like that simply p*ss people off. 

[½cwt]

Premiums area competitive market.  Pay-outs are another matter, there is a market out there that gives the value of vehicles and they shouldn't be low balling, particularly in third party no fault claims, just to see what they can get away with.

[Menoporsche]

1 hour ago, ½cwt said:

My point is they don't know what the fair price is and they don't know they CAN challenge it.  They think they jut HAVE to accept it whether they are happy or not.

Caveat emptor....

[½cwt]

52 minutes ago, Menoporsche said:

Caveat emptor....

No, motor insurance is a legal requirement....  you cannot control who a 3rd party is insured by therefore you are not the 'emptor' who can 'caveat'.

[Cheddar Bob]

I'm sure I posted on this thread... well it is a legal requirement, but not everyone follows the law

[Stuart21UK]

6 hours ago, dimebars said:

And this is the issue

 

As a customer off the street booking in advance, you could hire a similar car for a fraction of the price. But because the insurance co is picking up the tab, the price becomes inflated

For info they told me that there was a 35% discount to their tarrif applied as long as the third parties insurer covered the car..so it meant the actual cost was less as long as the third party coughed up and didnt fight the claim later on

[Ninesomething]

Several lives ago I was in charge of pricing for a biggish print company. Print is one of those things without a price list for several reasons. Anyway I used to do exactly the same. Sometimes I would multiply the cost price  by several times. Sometimes I reduced the cost price. All depended on whether I thought the buyer was a lazy git who didn't care how he spent his company's money. Realised I was making lots of money for the owner who didn't appreciate my contribution so I went and did the same thing for myself.

That said I hate it when someone tries it on with me.There is a difference when it's a person's money as opposed to a company's money where legitimate running expenses can be offset against tax. Like everything these days when someone is after your money it pays you to keep 'em peeled.