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Insurance...is there a bigger con?


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Showing 1-25 of 92 posts in this discussion
Initial post: 15 Jun 2013 15:29:25 BDT
Once one moves to third position and has a good, objective look at the concept of 'insurance' a broad grin and hearty laugh is in order! We all put money in, someone makes a profit and gives some if it back...great!!!

In reply to an earlier post on 15 Jun 2013 16:06:15 BDT
Spin says:
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In reply to an earlier post on 15 Jun 2013 16:19:28 BDT
Good point...

Posted on 15 Jun 2013 17:23:09 BDT
Spin says:
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Posted on 15 Jun 2013 18:14:20 BDT
Do you have any insurance, if so on what?

Posted on 15 Jun 2013 18:18:16 BDT
Spin says:
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Posted on 15 Jun 2013 18:20:03 BDT
Sadly the fount has car insurance and business insurance...

Posted on 15 Jun 2013 18:44:17 BDT
H. M. Sykes says:
Let's put this in perspective. Car insurance is mandatory, if you have a mortgage house insurance likely is and maybe life insurance. If you have a business then 3rd party insurance is also a legal requirement. The insurance industry (except cases like AIG) makes money or no one would offer insurance but the money is not huge and mostly comes from investment income rather than profit on premiums. I am not, nor ever have been, in the insurance industry but (a) it was one of the things that made Britain "Great" in that it allowed merchants to insure their ships and cargos and (b) there are some things you really can't afford to lose. What you choose to insure is personal - maybe your jewellery, maybe the life of the main breadwinner but where it is optional and people decide to pay the premium it is a little rough to knock the insurance provider. A bit like saying that you dissaprove of alcohol therefore all pubs and supermarkets should be closed.

In reply to an earlier post on 15 Jun 2013 18:48:47 BDT
Spin says:
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In reply to an earlier post on 15 Jun 2013 19:50:32 BDT
T. S. C. says:
'Simon "THE FOUNT" Boyd says:

Insurance...is there a bigger con?'

Probably dear boy, we'll no doubt find out about it in a few days/weeks/months. If it's not rich people dodging tax, it's horsemeat in burgers. If it's not capitalism it's some other 'ism'. The whole world runs on all kinds of cons and sharp practises.

In reply to an earlier post on 15 Jun 2013 19:57:11 BDT
Your car insurance costs how much..200 a year fully comp? If you don't think this is reasonable get yourself the minimum required by law - Road traffic Act cover against damage to third parties, and forgo the cover for fire, theft, legal claims, damage to your own car and to your precious body.

How much of the premium you pay is profit?

Me and the fragrant Mrs Bennett own properties and contents worth over 1 million, it costs us a few hundred pounds to insure them and the contents against all risks. That seems a good deal to us.

After searching for the best deal, Mrs Bennett bought a large upright larder fridge and matching freezer Online this week, cost 900, a sales rep rang to try and get us to take out 'whatever happens' insurance: "how are you today, why have you replaced your old appliances, you've made a lovely choice, we can offer you peace of mind for only 40p a day, you will never need to pay for another fridge again, ever, because we will repair or replace it 'whatever happens'". we told her, politely, to stop wasting our time. A quick calculation showed that after six years we'd have paid the cost of the appliances again in insurance. Lesson: Some insurance is a rip off.

The coffin insurance advertised by that nice sharing caring honest Mr Parkinson is another example of a bad deal.

She also said they would take our old appliances away for 15 each...I declined her gracious offer and replied that we wouldl put them by the front gate and the fairies will take them overnight, they were gone by 11.00am next day.

Posted on 15 Jun 2013 20:04:27 BDT
Spin says:
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In reply to an earlier post on 15 Jun 2013 21:07:45 BDT
H. M. Sykes says:
Hi Spin, you turn up on all sorts of discussions.

My advice is to keep drinking the JD. There is a time in our lives when some things are more important than others but, as we age, so do our priorities change. You will know when you have tipped over the edge when you prefer Bach to The Beetles to quote (probably wrongly) "Love Story".

In reply to an earlier post on 15 Jun 2013 21:10:48 BDT
Or the gov wasting billions of our money every year.

In reply to an earlier post on 15 Jun 2013 21:18:46 BDT
Spin says:
HM; Drinking has its place and time. Do not drink to cover unpleasantness in life; drink only to celebrate life. =) (Trust me, been there, done that, Drink helps but only in the short term, not as a panacea for all ills).

In reply to an earlier post on 16 Jun 2013 04:51:44 BDT
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In reply to an earlier post on 16 Jun 2013 09:11:36 BDT
What about the admin costs? Insurance spreads the risks of loss occurring, amongst all people in the scheme. So if it was not organised by a capitalist enterprise it would need to be run by the gov or some sort of 'insurance union' . There would still be the same admin costs (perhaps more if gov run, because everything they do always costs more, like for like), there would still be loss adjusters and investigators to guard against fraudulent and inflated claims.

How dare you call me <<a silly boy>>, my ego is wounded!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

In reply to an earlier post on 16 Jun 2013 09:59:41 BDT
Beloved....sorry...you are correct.

Posted on 16 Jun 2013 10:39:19 BDT
Last edited by the author on 16 Jun 2013 11:36:35 BDT
Except if you don't have car insurance, Spin, you are breaking the Road Traffic Act, and will find yourself in court, will have to pay a massive fine, and may go to prison.

Just to bring you back down to earth.

Posted on 16 Jun 2013 14:35:02 BDT
The One says:
Car insurance as required by law.........no other insurances.

The One simply saved money to cover any eventualities. The One's house insurance is my abilities to punch, kick and use a golf club on any scum(s) who dare enter my property.

The One doesn't have anything worth insuring anyway.

In reply to an earlier post on 16 Jun 2013 14:48:54 BDT
Wyan....what about the common law 'right to travel'? How does that law contrast with your "act"?

Posted on 16 Jun 2013 15:09:35 BDT
Try driving without insurance and telling that to the police, Simon.

Do let us know how well it goes...

In reply to an earlier post on 16 Jun 2013 15:36:40 BDT
As usual, avoid the question completely....same old Wyan..

Posted on 16 Jun 2013 16:44:23 BDT
Ian says:
Is there a bigger con than insurance?
How about homeopathy; money for nothing?

In reply to an earlier post on 16 Jun 2013 16:47:43 BDT
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This discussion

Discussion in:  politics discussion forum
Participants:  11
Total posts:  92
Initial post:  15 Jun 2013
Latest post:  17 Sep 2013

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