UK car Insurance premiums rocket 50% in 2023 – riskier roads, sicker drivers, price gouging by insurance companies? – NO! because of rises in the wages of repairers, paint, spare parts, labour
UK car Insurance premiums rocket 50% in 2023 – riskier roads, sicker drivers, price gouging by insurance companies? – NO! because of rises in the wages of repairers, paint, spare parts, labour
Bit of a ramble, looking at the recent massive increases in car insurance costs in the UK. Ed Dowd has alluded to this several times for the same phenomenon in Hawaii. Chances are it is happening globally. The cost of insurance is sky rocketing. British motorists are being hammered at every turn. If not fuel prices, congestion charges, ultra low emission zones, 15 minute cities fuel duties, road taxes and the need to provide massive subsidies for EV’s, now there is another. The cost of vehicle insurance. Keep in mind that whilst insurance does not attract Value Added Tax of 20%, it does attract Insurance Premium Tax of 9.5% - tax vampires gotta vamp - so a 50% hike in premium attracts a further 9.5% tax increase – see how that works?
“Rising paint prices and higher energy costs were among the reasons for a leap in the cost of motor insurance late last year, a trade body has said.”
Not entirely, not by a long straw.
As with private medical insurance, the "arrangement" made between the providers and insurers is a commercial juggling performance to see how many golden balls can be maintained in the air before becomeing financially unsustainable.
Fees to the end-point industry will be arranged on the basis of what insurance co. can afford from a ponzi scheme that eventually skewers the punter, being very little more than an unproductive risk promoting middlemanaging 'handler'.....I am reminded of 'futures brokers'.
Insurance companies appear to by doing what insurance companies do, namely, rorting the punter, largely based on fear. The industries thrive while the company survives and the punter is eviscerated. Then there is a plague of ESG virtue signalling insurance corporates ready to comply with the eradication of private car ownership.
probably doesn't have much effect, but there have been more than a few crashes caused by drivers having heart attacks or being incapacitate in some other way since the rollout of you-know-what.
“Rising paint prices and higher energy costs were among the reasons for a leap in the cost of motor insurance late last year, a trade body has said.”
Not entirely, not by a long straw.
As with private medical insurance, the "arrangement" made between the providers and insurers is a commercial juggling performance to see how many golden balls can be maintained in the air before becomeing financially unsustainable.
Fees to the end-point industry will be arranged on the basis of what insurance co. can afford from a ponzi scheme that eventually skewers the punter, being very little more than an unproductive risk promoting middlemanaging 'handler'.....I am reminded of 'futures brokers'.
Insurance companies appear to by doing what insurance companies do, namely, rorting the punter, largely based on fear. The industries thrive while the company survives and the punter is eviscerated. Then there is a plague of ESG virtue signalling insurance corporates ready to comply with the eradication of private car ownership.
.....And still the sheeple and mushrooms doze.
probably doesn't have much effect, but there have been more than a few crashes caused by drivers having heart attacks or being incapacitate in some other way since the rollout of you-know-what.
My vehicle is a 2009 Toyota Corolla. My insurance is over $100 a month.
Correct me if I am wrong, but the annual insurance is more than the car's value?