# OFT To Investigate Motor Premium Rises



## Shiny (Apr 23, 2007)

http://www.insuranceage.co.uk/insurance-age/news/2107702/motor-market-oft-investigation

Personally i'm not going to speculate the outcome, i'm happy to wait to see the results of the investigation. This will however provide an unbiased view on the rate increases and either put minds at rest or cause an outrage!


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## Ninja59 (Feb 17, 2009)

i doubt much will actually come of it! :lol: or if it does to late.


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## justina3 (Jan 11, 2008)

thats good news the oft are not shy in handing out fines as and when needed to in the past, so fingers crossed they do get to the bottom of this issue


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## mba (Jun 17, 2006)

justina3 said:


> thats good news the oft are *not shy in handing out fines* as and when needed to in the past, so fingers crossed they do get to the bottom of this issue


Which will no doubt by offset against premium rises :lol:


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## nick_mcuk (Jan 4, 2008)

Its daft my trade policy has gone up £300 over last year....had no claims....£300 is a **** take in my view!


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## bigmc (Mar 22, 2010)

Insurance prices will never come down whilst having insurance is mandatory.


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## Magic Detail (Jul 25, 2010)

I can't see it being long before insurance is made optional tbh. It's getting beyond a joke now. There's over 3 million cars on the roads un-insured. How can it be considered fair to raise the price of those who opt to pay it, because so many aren't paying? Eventually not paying for insurance will become the norm. 

Insurance on the whole is nothing more than a money making scam anyway - you pay your fee's "incase" anything happens (usually it doesn't) and are rewarded with "discount" for the following year (price goes up, should come down with a discount, surely?!?!). In the event that something does happen, the insurance company usually try and avoid paying the full amount.. if they pay out at all......


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## Shiny (Apr 23, 2007)

Some more news in today - http://www.justice.gov.uk/news/press-releases/moj/newsrelease090911a.htm


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## Magic Detail (Jul 25, 2010)

That's only part of the problem though - one of the other big issues is covering the costs for uninsured drivers.. which is simply unfair, as it's penalising those who abide by the law. I can't help but feel this is too little too late, as the rising cost of insurance should have been capped years ago. I have been driving for 9 years, and my insurance costs came down over the first 4 or 5 years, but certainly over the last 4 years it has risen considerably. To the point where my insurers are now asking an extra £200 for my renewal next month, an extra 30% over last years premium, despite another years no claims "discount" on exactly the same car insured from the same address.


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## McClane (Dec 9, 2010)

Good, theiving *******s. No offence shiny.

I think the fact that insurance is a legal requirement of vehicle ownership means we're lambs to the slaughter with regards being well and truly ripped off.

If the whole industry hikes their prices, it's not like you can "do without".


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## Magic Detail (Jul 25, 2010)

Thing is though, the number of claims vs the number of cars on the road genuinely does mean you _could_ "do without", as the 3,000,000 people out there without insurance (and tax, and mot's) are currently proving. Like I said earlier, if prices going up carries on, resulting in the number of uninsured continuing to rise, despite the governments best efforts to reduce it, then I can see insurance becoming 'optional'.


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## centenary (Sep 5, 2010)

About effing time!

They need to look at curbing the 'claim culture' encouraged by all the ambulance chasers. Then, they need to look at 'approved insurance repair centre' costs. Everyone knows take your car in for bodywork repair and virtually the first question you are asked is 'insurance job or paying yourself?' with a resultant higher price if an insurance claim.


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## Modmedia (Jul 25, 2008)

It's a joke and try living in Northern Ireland and it's an even BIGGER one! Grrrrrrrr!


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