What's with the car insurance mafia here?

Come in get yourself a Beer, and tell us about yourself
Post Reply
cafetime Greece
Newbie
Newbie
Posts: 2
Joined: Wed Oct 14, 2020 1:32 pm

What's with the car insurance mafia here?

Post by cafetime »

Price are like double what I pay in the UK. Fully comprehensive for Mercedes a class around 16,000 cost me 2000 a year which is 12.5% of the value of the car.

Any good recommendations?


User avatar
Zoran EUROPEAN_UNION
Newbie
Newbie
Posts: 6
Joined: Sun Jun 21, 2020 1:03 am
Location: Vienna

Re: What's with the car insurance mafia here?

Post by Zoran »

I hope it's worth shopping around like in the UK. I was quoted £1400 to renew my insurance at the end of August. I then went to Direct Line and got it for £500. I already knew that loyalty doesn't pay, buy £900 difference?! Which company is asking 2000?

Zoran
User avatar
morgenhund EUROPEAN_UNION
Häupl, Sackbauer, Krankl
Häupl, Sackbauer, Krankl
Posts: 4628
Joined: Sun Jun 12, 2005 8:00 am
Answers: 1
Location: 1090, 1190
Contact:

Re: What's with the car insurance mafia here?

Post by morgenhund »

Vienna is like an Ikea sofa - you know you should upgrade, but why bother when it is this comfortable.
User avatar
Zoran EUROPEAN_UNION
Newbie
Newbie
Posts: 6
Joined: Sun Jun 21, 2020 1:03 am
Location: Vienna

Re: What's with the car insurance mafia here?

Post by Zoran »

Thanks morgenhund. I got a range from 2,528.77 to 4,176.14 Eu with several agencies. I have had ridiculous quotes in the UK too over the years. Are there any insurers known to be reasonable? My car is a Skoda - would it make sense to visit a Skoda/VW dealer and ask them directly for a quote?
User avatar
Robert Barratt EUROPEAN_UNION
Expert
Expert
Posts: 259
Joined: Tue May 13, 2014 3:13 pm

Re: What's with the car insurance mafia here?

Post by Robert Barratt »

Years ago through teaching I worked with an insurance company and asked them why car insurances premiums were so much higher than in the UK. One reason was the size of the market they told me (economies of scale etc ...) But another reason was due to the fact that UK cars are right hand drive and the UK is an island. In other words, they are not as attractive to thieves in the rest of Europe and even if they were, it is much more difficult to ship them abroad. Hence the indemnification against theft is lower.
User avatar
Macrogue Great Britain
Luminary
Luminary
Posts: 815
Joined: Mon Aug 14, 2006 8:00 am

Re: What's with the car insurance mafia here?

Post by Macrogue »

TBH - it's higher.
Get used to that for a start.
Find yourself an Insurance-Makler. I can recommend mind if you DM me.

Mac
No Day but Today
User avatar
morgenhund EUROPEAN_UNION
Häupl, Sackbauer, Krankl
Häupl, Sackbauer, Krankl
Posts: 4628
Joined: Sun Jun 12, 2005 8:00 am
Answers: 1
Location: 1090, 1190
Contact:

Re: What's with the car insurance mafia here?

Post by morgenhund »

Robert Barratt wrote:
Mon Oct 19, 2020 7:48 am
Years ago through teaching I worked with an insurance company and asked them why car insurances premiums were so much higher than in the UK. One reason was the size of the market they told me (economies of scale etc ...) But another reason was due to the fact that UK cars are right hand drive and the UK is an island. In other words, they are not as attractive to thieves in the rest of Europe and even if they were, it is much more difficult to ship them abroad. Hence the indemnification against theft is lower.
The issue of the market size doesn't surprise me, and also that the depreciation curve seems to be different over here to the UK. In the UK you seem to lose more for taking the car "off the forecourt" than here. Not sure if mileage habits also vary substantially between UK and here.
Vienna is like an Ikea sofa - you know you should upgrade, but why bother when it is this comfortable.
Post Reply