For help, advice and discussion about stuff not related to aviation. Play nice: no religion, no politics and no axe grinding please.
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By romille
#2015700
Rob P V2.0 wrote:
GAFlyer4Fun wrote:Insurance companies could encourage better driving standards simply by offering a bigger discount to those voluntarily taking/passed additional training to a higher standard with organisations like the IAM.

Some do, but unfortunately they are often undercut by other insurers.

Rob P V2.0

Many years ago when my son passed his driving test, I paid for a Pass Plus course that enabled us to get a significant discount from some major insurance companies.
By GAFlyer4Fun
#2015912
When I was getting insurance quotes for another motorbike pre-purchase, I noticed my current insurer had "lost" the IAM bike pass from my details. (Just cant trust the computer systems these days so bits of paper are still useful for important stuff).
I got the quote as-is, and then did a re-quote simply adding the IAM pass.

The IAM pass put my premium up! :wall:

The experience was repeated on insurance quote websites.
Removing the IAM pass brought the quotes down!

The insurance industry really is messed up with the risk calculations, or they are all using the same underlying risk calculation system and some coder has done an update and got the logic upside down.
By A4 Pacific
#2015913
One presumes the insurance companies have detected that IAM motorists think more of their ‘skills’ yet are liable to have more claims? :roll:

What else can it be?
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By Sooty25
#2015914
GAFlyer4Fun wrote:When I was getting insurance quotes for another motorbike pre-purchase, I noticed my current insurer had "lost" the IAM bike pass from my details. (Just cant trust the computer systems these days so bits of paper are still useful for important stuff).
I got the quote as-is, and then did a re-quote simply adding the IAM pass.

The IAM pass put my premium up! :wall:

The experience was repeated on insurance quote websites.
Removing the IAM pass brought the quotes down!

The insurance industry really is messed up with the risk calculations, or they are all using the same underlying risk calculation system and some coder has done an update and got the logic upside down.


Maybe the insurers think an IAM pass has the opposite effect, maybe they think it makes IAM holders higher risk as they "believe" they know better? The insurers are the ones with actual claims data, rather than perceived risk.
A4 Pacific, eltonioni liked this
By GAFlyer4Fun
#2015921
Interesting. Many years ago it was the claims stats that showed the IAM folks were less likely to be involved in an accident. Some of course do have accidents.

The training has certainly saved me from mishaps over the years from better observation and anticipation than what I used to have. (I would say better machine control too, but that factor is skewed by track day skills/training).
In my case it has saved the insurers and the NHS a lot of money then over the decades! .... so worthy of an insurance discount for the IAM pass? :wink:
User avatar
By Sooty25
#2015926
@GAFlyer4Fun wild guessing here, but maybe there are so many factors in the calculations now, and so few people doing these courses, that it's just lost. Maybe the actuaries skim past and throw a random number in due to so little data?

It only needs a thought like, "IAM holder, does that mean he drives more miles? Hmm, dunno, add 5%"

Personally, I hold a full motorcycle licence, have raced a motorcycle, held an RAC MSA Race licence for rallying. Obviously hold a pilots licence. I've been involved in building and maintaining all the above, so understand how they work. As a result, I probably have better awareness and approach to safety, compared to an average office worker that just drives to work.

No tick boxes for all of that though, an I'll select the same "company director" option for employment on the renewal.

But, if your IAM keeps you out of hospital, just once, it was still worth doing!
By johnm
FLYER Club Member  FLYER Club Member
#2015927
Perhaps tell the IAM there seems to be an anomaly?
By riverrock
FLYER Club Member  FLYER Club Member
#2015955
Quick search elsewhere suggests most IAM members find it makes little difference to the premium, unless they try using the IAM's insurance partner (who are generally able to knock a bit off). It has apparently been like that for years.
User avatar
By skydriller
FLYER Club Member  FLYER Club Member
#2015956
Sooty25 wrote:The insurers are the ones with actual claims data, rather than perceived risk.


But are they? Do they really use data realistically? I've seen insurance companies come up with some odd quotes, so I'm not at all convinced.
User avatar
By PeteSpencer
FLYER Club Member  FLYER Club Member
#2015959
Kittyhawk wrote:I have always got at least 5% discount on insurance for having ROSPA Advanced. Car and bike.


I usually get at least 5% discount just by ringing up and asking :lol:
User avatar
By Kittyhawk
FLYER Club Member  FLYER Club Member
#2016003
PeteSpencer wrote:
Kittyhawk wrote:I have always got at least 5% discount on insurance for having ROSPA Advanced. Car and bike.


I usually get at least 5% discount just by ringing up and asking :lol:


That as well- last week I got my renewal down from £1150 to £745 by doing just that :D
By GAFlyer4Fun
#2016027
Sooty25 wrote:It only needs a thought like, "IAM holder, does that mean he drives more miles? Hmm, dunno, add 5%"


The actual mileage for a vehicle is public domain on the MOT history. Before it became public domain there was probably an element of trust in the proposer declared mileage for the quote until a claim occurred.

Glad to hear you have had so many licences for fun in your life so far. 8)
User avatar
By Miscellaneous
#2016028
Sooty25 wrote:But, if your IAM keeps you out of hospital, just once, it was still worth doing!

Oh I don't know, Sooty, IME most of those doing the IAM course are the less able drivers seeking some confidence. :wink:
Sooty25 liked this
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