You must admit these sorts of things are somewhat disproportionate though.
Even assuming that he speaks to someone in order to implement this (and increasingly he won’t have done), are we really saying that it takes 2 hours of work of someone being paid (say) £12.50 an hour?
No, they’re saying it costs half an hour of the time of someone working at £10 ph, plus their pension NIC etc costs, plus a unit of compliance time, plus a unit of audit time, plus the proportionate costs of running an office, plus the proportionate costs of a phone line, plus a margin of 8%
and as that adds up to £23.17, they might as well round up to £25
you have to wonder if some posters have any idea how a business works
Or would their target be closer to 16 an hour? Which do you think?
These ‘admin charges’ are a major gouge and the insurance companies know it, which is why they often waive them as a ‘goodwill gesture’ when challenged.
It was not a strictly accurate analysis of their costs/margins
and I wasn’t actually saying the fee is acceptable
My post was more designed to highlight by example the utter ignorance of supposing that anyone who charges [x] for a service is paying their employees [x]/time spent
As I would have hoped might be obvious it was an oversimplification to make a point.
The point of course still standing, that these ‘admin charges’ are a massive skim, entirely unrelated to the actual cost of providing any such administration.
yeah mine used to charge a commute premium even thought it meant car was in a gated, guarded underground garage all day, safe from buses and scrotes with screwdrivers etc
Coracle do that stuff myself as by the time I've explained it to some trainees and they've got it wrong a couple of times it's much cheaper to do it myself.
I'm steeling myself for my annual call to my car insurers to enquire why they've upped my premium by around 18% when a quick search online shows other insurers will insure me for just 7% more than my premium last year.
When my friend's car was bumped by another driver and her insurer wanted to write it off (cos old) she hung on to it and decided to change the insurance to third party - seeing as shed never get them to shell out on damage to it, going forward. They charged for that too. No refund on lower cover, oh no, just a charge for the change.
We thought about changing to TPF&T on ours cos it's ancient and worth fook all. The wisdom of the insurers was to the effect that that would be at a higher premium because the kind of driver who doesn't care about their car and therefore goes for TPF&T is probably more likely to be reckless and have a crash. Of course that only makes sense if TPF&T is actually a cheap option which it isn't if they charge a higher premium for the reason the insurer gave.
Thinking about the above I think has given me a slight insight into what it is like being 3-Dux.
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Your old dear must find such paymemts ever so tiresome
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You must admit these sorts of things are somewhat disproportionate though.
Even assuming that he speaks to someone in order to implement this (and increasingly he won’t have done), are we really saying that it takes 2 hours of work of someone being paid (say) £12.50 an hour?
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They press a button, it send some automated workflows and that is it
I can understand a nominal £5 charge but £25 is massively disproportional.
I'm penning a letter to the financial ombudsman as we speak.
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Strutts, iirc u r a lawyer of sorts. perhaps pause before criticising people charging extortionate hourly rates for their time.
Perusing, 8.2...
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Iirc you are also a lawyer (of a sort) so upon second reading you may find that I was not criticising extortionate hourly rates.
thank you for your closer attention this time.
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No, they’re saying it costs half an hour of the time of someone working at £10 ph, plus their pension NIC etc costs, plus a unit of compliance time, plus a unit of audit time, plus the proportionate costs of running an office, plus the proportionate costs of a phone line, plus a margin of 8%
and as that adds up to £23.17, they might as well round up to £25
you have to wonder if some posters have any idea how a business works
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Quite a statement from an ardent brexiteer tbf
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Wrong Delphi ?
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Try getting it insured for business use, not just commuting from A to B (home to workplace) A bigger hit.
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So someone can only do 16 of these a day?
Or would their target be closer to 16 an hour? Which do you think?
These ‘admin charges’ are a major gouge and the insurance companies know it, which is why they often waive them as a ‘goodwill gesture’ when challenged.
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How the fook does pressing one button take half an hour?
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They voted Brexit m7
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It was not a strictly accurate analysis of their costs/margins
and I wasn’t actually saying the fee is acceptable
My post was more designed to highlight by example the utter ignorance of supposing that anyone who charges [x] for a service is paying their employees [x]/time spent
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As I would have hoped might be obvious it was an oversimplification to make a point.
The point of course still standing, that these ‘admin charges’ are a massive skim, entirely unrelated to the actual cost of providing any such administration.
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*adds 12p per page for photocopying*
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I believe u
next time suggest u do simple examples which don’t make u look ignorant
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It's probably a drop-down box on the form, so that's at least 2 mouse clicks and some scrolling involved.
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Fair enough Oracle. Mistaking someone for Elphi really is fighting talk. Apolz.
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Apology accepted Delphi.
Many thanks.
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wellers, just change insurer at the next renewal.
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i'll probably just go with whoever is cheapest tbh
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A fair point. What would they charge to remove someone named as a commuter? I'm guessing a premium rebate would not be forthcoming.
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what Wang said
world's biggest LOL at lawyers criticising overcharging
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It is not additional premium, it is just an admin charge (according to the lass on the phone at least)
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I'd happily have paid a higher premium.
Weirdly they didn't ask any questions about where the car is parked during the day etc
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yeah mine used to charge a commute premium even thought it meant car was in a gated, guarded underground garage all day, safe from buses and scrotes with screwdrivers etc
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What's the going rate for getting a trainee to type the name and address into a licence to assign these days?
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Coracle do that stuff myself as by the time I've explained it to some trainees and they've got it wrong a couple of times it's much cheaper to do it myself.
I'm steeling myself for my annual call to my car insurers to enquire why they've upped my premium by around 18% when a quick search online shows other insurers will insure me for just 7% more than my premium last year.
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I renewed my car insurance a couple of days ago. Changed the use from SDP and commuting to SDP. No change in premium.
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When my friend's car was bumped by another driver and her insurer wanted to write it off (cos old) she hung on to it and decided to change the insurance to third party - seeing as shed never get them to shell out on damage to it, going forward. They charged for that too. No refund on lower cover, oh no, just a charge for the change.
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We thought about changing to TPF&T on ours cos it's ancient and worth fook all. The wisdom of the insurers was to the effect that that would be at a higher premium because the kind of driver who doesn't care about their car and therefore goes for TPF&T is probably more likely to be reckless and have a crash. Of course that only makes sense if TPF&T is actually a cheap option which it isn't if they charge a higher premium for the reason the insurer gave.
Thinking about the above I think has given me a slight insight into what it is like being 3-Dux.
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Heh.
Neither rhyme nor reason
FWIW has anyone ever had a claim refused on grounds of non disclosure of previous claims at time of starting cover....?
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