insurance: should it be compulsory?

The Bollox

I have heard a few stories lately about people having their cars damaged in some way, but the owner doesn't call on the insurance company to sort it out, instead they pay for the damages themselves because 'it's cheaper in the long run'. so what's the point really in having insurance on your car if you're going to be paying on average 1,000 pa for it, and never use it. do you think the law should be changed, making it optional to have insurance (which is how I think it works in the US) or are you happy to pay out the money just encase something happens and you don't wanna get caught with your pants down so to speak.

I think it should be made optional, because in 5 years you will have saved enough from not paying for insurance to pay out for any big damage done if something does happen

Einstein

i see the value moreso if i was unfortunate enough to have to cover the cost of somebody elses costs besides my own...

the whole insurance scheme in Ireland is a bit of a joke though me thinks

PeakOutput

comprehensive insurance is not mandatory neither is third party fire and theft the only madatory insurance is third party ie if you cause an accident the insurance company pays everyone at a loss due to the accident you caused for their loss


edit; i havnt heard of tp only for cars tho being offered to customers so you might have to ask for it or have **** loads of claims so the company has to limit your cover to tp only. for motorbikes tho tp only is relatively common

edit 2; im almsot 100% positive that insurance is NOT optional in the states. in canada tho no1 has to get their own insurance its included in fuel prices and the goverment underwrites everyone so everyone pays the same

chris85

The Bollox wrote: »

I have heard a few stories lately about people having their cars damaged in some way, but the owner doesn't call on the insurance company to sort it out, instead they pay for the damages themselves because 'it's cheaper in the long run'. so what's the point really in having insurance on your car if you're going to be paying on average 1,000 pa for it, and never use it. do you think the law should be changed, making it optional to have insurance (which is how I think it works in the US) or are you happy to pay out the money just encase something happens and you don't wanna get caught with your pants down so to speak.

I think it should be made optional, because in 5 years you will have saved enough from not paying for insurance to pay out for any big damage done if something does happen

If somone crashes into me and I become seriously injured i need to know that someone is going to cover me fully for all medical costs/out of work/expenses etc.

Insurance is to cover anything that may happen in a crash, not just a few dents that is cheap to fix.

Seriously mate, you really must know how much insurance can cover before starting a thread like this were you are going to get told.

The Bollox

chris85 wrote: »

If somone crashes into me and I become seriously injured i need to know that someone is going to cover me fully for all medical costs/out of work/expenses etc.

Insurance is to cover anything that may happen in a crash, not just a few dents that is cheap to fix.

Seriously mate, you really must know how much insurance can cover before starting a thread like this were you are going to get told.

if mr. X or Mrs. Y doesn't have insurance, surely you could bring him or her to court and get all the coverage from him or her there

PeakOutput

The Bollox wrote: »

if mr. X or Mrs. Y doesn't have insurance, surely you could bring him or her to court and get all the coverage from him or her there

how many mr x or mr y has a couple hundred grand or a couple million to pay for 3 people in vegetive states due to the accident they caused?

seriously man you have no idea what your talking about

edit; hell who even has 40 grand to of liquid assets to pay for someone elses decent car they just wrote off

pclancy

There would HAVE to be 3rd party as a minimun or you'd better have a damn good Laywer.

The Bollox

so what it boils down to is: none of you mind paying out whatever it is every year on insurance despite the fact you might never need it. that's all I wanted to know

chris85

The Bollox wrote: »

if mr. X or Mrs. Y doesn't have insurance, surely you could bring him or her to court and get all the coverage from him or her there

Easier said then done. How long would a case take to go through courts. (please hurry i need an operation but the guy gave me no money :cool:)

Insurance may be expensive in this country but i like to know im covered for anything that may happen.

On this basis there is no point in house insurance either, sure i never claim. Next year a disaster hits and house is ruined and repairs are expensive. Who pays, you!!

PeakOutput

The Bollox wrote: »

so what it boils down to is: none of you mind paying out whatever it is every year on insurance despite the fact you might never need it. that's all I wanted to know

well thats how the companies make their money. sure the only insurance you HAVE to have is tp cover on your car. you dont have to have property insurance.

why dont you buy a new car and house insure the car tp only and dont insure the house at all. dont take out life insurance or health insurance for you or your family. now take note of A) how many times you regret having to pay out of your own pocket for all the little things how much paying for the little things that would be covered by all the different types of insurance costs you over your life time.

Mr.Diagnostic

I know you are not supposed to feed the Trolls but was just wondering, what do they eat? (besides gullible Boardsies that is )

chris85

The Bollox wrote: »

so what it boils down to is: none of you mind paying out whatever it is every year on insurance despite the fact you might never need it. that's all I wanted to know

The bollox, its great you never needed it (hopefully never will) but if you hit someone on a bike and they are crippled for life then insurance will be there, god knows you will not be able to afford them costs.

mikemac

The Bollox wrote: »

so what it boils down to is: none of you mind paying out whatever it is every year on insurance despite the fact you might never need it. that's all I wanted to know

Have you even thought this through?
You're talking about repairing minor damage in your post and yes, for many of these cases people will not use insurance.
But what if you write off their car, have you 30k in the bank to pay immediately?
And what if you put someone in a wheelchair and they require medical care for the rest of their lives. We're talking millions here, enough to bankrupt you or me.

Going your post above, imagine some rich person hits you. Well yes, there is a fair chance your costs will be covered.
But what if they are not rich. Do you want them to sell their family home to compensate you? Or maybe they can't afford to compensate you and this means a lottery, "God if I'm ever in an accident then please let a wealthy person do it".

The others posters have good points. Just pay 3rd party insurance in future if thats what you want. An insurance company may find it unusual but they'll certainly sell it to you

padi89

chris85 wrote: »

The bollox, its great you never needed it (hopefully never will) but if you hit someone on a bike and they are crippled for life then insurance will be there, god knows you will not be able to afford them costs.

Never mind "crippled for life" you can be heavily out of pocket for a lot less than that.:(

maidhc

micmclo wrote: »

Just pay 3rd party insurance in future if thats what you want. An insurance company may find it unusual but they'll certainly sell it to you

Last time I renewed it was €30 cheaper than fully comp!

Just shows how absolutely insignificant accident repairs are to the insurers bottom line (helped no doubt by NCBs and so forth).

chris85

padi89 wrote: »

Never mind "crippled for life" you can be heavily out of pocket for a lot less than that.:(

I know yeah but just going for the worst case scenario that can happen. But can defo become heavily out of pocket for a lot less

Orange69

PeakOutput wrote: »

in canada tho no1 has to get their own insurance its included in fuel prices and the goverment underwrites everyone so everyone pays the same

??? Where did you hear this rubbish?

PeakOutput

Orange69 wrote: »

??? Where did you hear this rubbish?

lol is it completely wrong? i thought that was common knowledge:o maybe i just dreamed it tho

Fobia

Orange69 wrote: »

??? Where did you hear this rubbish?

I've heard that, I thought it was Australia though? Maybe it's just a rumour

pclancy

I'd heard the same about NZ and OZ but you're mad not to have 3rd party at least

PeakOutput

Fobia wrote: »

I've heard that, I thought it was Australia though? Maybe it's just a rumour

now dat he has me thinkin about it i cnt remember were i heard it so chinese whispers and all that

PeakOutput

“I would like to ask the Minister his opinion on Sinn Féin’s proposal to set up a state motor insurance scheme? There is a model there in Canada with the Canadian Government Insurance Company in ManitobaProvince. This insurance company does not discriminate on age or sex; the only things taken into account are the car you drive, what you use it for, where you live, your driving record and the cover you want. Quotes are much the same for everyone. New Zealand also runs such a scheme. These companies have proven their viability and actually contribute to better road safety through involvement in every aspect of road awareness projects.

linky = http://www.sinnfein.ie/news/detail/22444

i googled that by the way i dont make a habit of lookin at the shinners website

Alun

This is the situation in NZ ....

http://www.nzs.com/new-zealand-articles/motoring/car-insurance.html

Orange69

PeakOutput wrote: »

lol is it completely wrong? i thought that was common knowledge:o maybe i just dreamed it tho

In canada (BC anyway) basic car insurance is provided by a provincial corporation (icbc).. You pay your premium etc just like over here .. There is also private insurance firms.. Insurance over there is compulsory and works out maybe slightly cheaper than Ireland but not much..

I doubt any country would apply a tax on fuel to pay for everyones insurance, it sounds like something a communist state would implement.. It would be a completely unfair system!!

PeakOutput

Orange69 wrote: »

I doubt any country would apply a tax on fuel to pay for everyones insurance

ye it looks like it was a chinese whispers combined version of the canadian system and the new zealand system was what i heard. the only problem wit a state insurance company running things is there is no competition(i assume) so you dont get things like approved repairers or 24 hour breakdown assist or free hire car and you end up buying these anyway which would prob bring the price back up to what is being paid now

beatman91

It only takes 1 claim to make all the years paying for it worth while. I think its too expansive but a necessary evil.

Tipsy Mac

There are people driving around in Ireland who can't even afford to stick legal tyres on their cars, I would hate to think what would happen if I was hit by one of these cars and was waiting for them to pay me for the damage from their own pocket.

The Irish government couldn't become involved in creating an insurance company as this would be against EU rules, although so is hampering the free movement of goods and they get away with not allowing vehicles free transfer to Irish drivers without paying VRT.

cantdecide

I paid £4,000 for my first year's insurance back in '00, while my car cost £800. Now they were the bad old days. I had no choice as I lived in a rural area without access to either of my folks' cars so it was case of buy it or go off my game. I've subsequently (knock on wood) not had any accidents and got my full license in the first year, in my first test.

I remember that the big arguement of the time was that the older people would say 'I'm not paying for accidents caused by the yungfellas'. The correct viewpoint is that you pay an annual premium throughout your lifetime that balances any claims you've had. The very principal of insurance is that a combined fund is set up from which all claims are settled.

My insurance is now around €500 and I still believe that discrminating against people because of age and sex is scandalous. They aren't allowed charge people over 70 years of age 20 times that of a young person like I was charged for my first car insurance. Totally hypocritical.