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250% increase in insurance premium. What's going on?

  • 20-08-2015 9:23am
    #1
    zulutango
    Registered Users, Registered Users 2 Posts: 3,903 ✭✭✭


    What kind of lunacy is this?

    My premium has jumped from 308 euro to 750 euro for no reason.


Comments

  • #2
    Alanstrainor
    Registered Users, Registered Users 2 Posts: 23,157 ✭✭✭✭Alanstrainor


    Do a search. There is one of these threads posted at least once a day. Insurance has gone up across the board for most in the country, there is no use being loyal to insurance companies, start ringing around to brokers and insurance companies and move to a cheaper company.


  • #3
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    zulutango wrote: »
    What kind of lunacy is this?

    My premium has jumped from 308 euro to 750 euro for no reason.


    I'll summarise the main arguments as put forward by industry posters here

    "You sir are an uneducated, ungrateful ignoramus who does not understand the industry - you have no right to perceive these sudden increases as being anything less than you deserve"

    "Ye are all crooks and fraudsters anyway"

    "we're entitled"


  • #4
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    The "you don't understand" argument is rarely followed up with any useful attempt to explain such unquestionable tenets of the faith such as "All 15year old cars become uninsurable killing machine on the stroke of midnight of their 15th birtday and there is no way to differentiate between them"


  • #5
    zulutango
    Registered Users, Registered Users 2 Posts: 3,903 ✭✭✭zulutango


    Alanstrainor wrote: »
    Insurance has gone up across the board for most in the country.

    I keep hearing this from people, and even the agents in the insurance companies are throwing it out there as if it's a fundamental principle of the universe. When it's questioned they say that there's been an increase in claims, but nobody has been able to provide data to back this up.

    What chance the industry is just extorting money out of people because they know they can? Do we really have competition in the insurance industry?


  • #6
    youwhoglue
    Registered Users, Registered Users 2 Posts: 88 ✭✭youwhoglue


    Invest in some phone time.

    I rang my AA broker back to query my increase and got a 'renewal discount'. Got back to within 25 euro of last year's quote. Happy out.


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  • #7
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    zulutango wrote: »
    I keep hearing this from people, and even the agents in the insurance companies are throwing it out there as if it's a fundamental principle of the universe. When it's questioned they say that there's been an increase in claims, but nobody has been able to provide data to back this up.

    What chance the industry is just extorting money out of people because they know they can? Do we really have competition in the insurance industry?
    "why?"
    "Because I said so"

    Dealing with them really is like dealing with a cult, they just throw out these mantras and expect us to accept them. If we dont then "we just don't understand the mysteries ofthe faith".

    They honestly think they are special, or at least they come across that way to me on here. But the only thing that makes them special is we are legally obliged to buy their product.

    Imagine if health insurance was made a legal obligation, but with the same "controls" as the motor insurance industry? 10k per annum for basic policies?


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