Flyin'Dutch' wrote:Cheapest to drive were the hire cars, as it saved on the airport parking.
The late, great, ex Royal Tank Regiment legend Keith Floyd maintained that the best off-roader was a Godfrey Davis hire car.
stevelup wrote:That is very spendy on a 14yr old car
stevelup wrote:Ouch. As a percentage of the value of the vehicle, that is painful...
riverrock wrote:When a claim does come it, it is much more expensive now than it once was.
Personal injury payments are significantly higher, car hire is provided for the person who has been bumped into, cars are much easier to write off (any damage to anything structural will pretty much do it), panels are all colour specific and often not pre-painted, with paint shops charging hundreds of pounds to mix any paint, the standard of any repair must be "as new", There are also lots of regulatory hurdles to jump through.
Actuaries work out risk multipliers which are used to set premiums. The admin cost of a claim is so high, that increased excesses reduce the chance of claims (and so admin costs). You would have thought that admin costs would be much reduced for long term customers but as they need to go through the full sales cycle for every renewal anyway it doesn't make a lot of difference.
Still money is being made by them though! .
eltonioni wrote:The road fund licence ...