Insurance companies?
July 16, 2010 - 8:07 pm
I was 18 when i had my first years insurance. The price for myself driving was in excess of £1500 and with 3 additional drivers it went down to £950. Now that i am looking for quotes for my second year insurane policy its the other way around. For myself its £700 and with 3 additional drivers its £1100 (approx). I really cant understand the insurance companies logic. Has this happend to you, or is it just me. I find that it is strange…..
Grab a statistics book and read up on the principal of large numbers. All rates are based on this model.
July 17th, 2010 at 1:48 am
Grab a statistics book and read up on the principal of large numbers. All rates are based on this model.
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July 17th, 2010 at 1:56 am
Legal gangsters matey
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July 17th, 2010 at 2:45 am
Insurance companies are statisticians, so if your area has been bad for car crashes, car thefts etc in the last 12 months then the price of insuring drivers from that area/age group will rise.
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