 Is life insurance a good investment for a married couple with no children or mortgage? |
| My wife and I are considering purchasing life insurance but we aren't sure if it is the best investment for the money involved. Advice would be helpful. We do plan on having a family in the ... |
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 I want to cancel loan insurance, but I've been told I need to take out a new loan. Is this right? |
| I took out a loan last year, and this included insurance. I then wrote to the company a few days after receiving my policy and cancelled the insurance. The loan company now tell me that as I haven... |
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 Plastic surgery covered by insurance? |
| I want to get a nose job. Is there any way insurance will cover it?... |
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 High Risk life insurance? |
| My mother is about too be 50years old, just got done treatment for breast cancer, had a heart attack in 2002, and smokes. She has 10,00 worth of life insurance through her job but because she is my ... |
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 I have $50,000 worth of life insurance. Cash value is $17,000.? |
| Should I cash it in and re invest or just leave it? The premiums will increase when I turn 54. I am 51 at this time. I am presently in good health. If I cash it in will there be any penalties ... |
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 Can a live-in relative, not covered under a homeowners policy, take out a claim for car damage from the house? |
| I live at my parent's house. My car was parked in their garage. A sewage drain(old house) busted and sent "stuff" over my car. It took the paint off the car. If my parents are going to ... |
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 My tree fell on my neighbors uninsured truck. will my insurance cover it if it was a sound tree or unsound? |
| wind storm. my insurance co will not cover it,they say his car insurance will . he has none. he is threatning suit. they will represent me in court but not small claims court but will provid e ... |
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 Full Coverage car Insurance? |
Is it smart to carry full coverage on a 1999 Windstar full paid for
Market Value approximatiely $5000.00 . My yearly premium is abouts 2300.00 with 500 ded on collision and comprehensive.
I... |
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 What am I suppose to do if I am having problems with my car insurance company? |
| My car was found to totaled two months ago and my insurance company was to pay to my car people on my behalf. They still have not done anything. What am I to do about this?... |
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 Life insurance - is this a scam? someone help me....? |
| my mother is getting life insurance (she's in her 50's). she had a man come to her house - he said he wants to withdraw her monthly life insurance payments out of her account next month. I ... |
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 Should I purchase Term Insurance not Whole Life and invest the difference? |
Whole life cost more, but with Term I could cut that in half and invest the other portion of the payment...it's a good idea eh?
Additional Details
The anwers from my question has ... |
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 I am in a relationship and the man says that he cannot divorce his wife because she will loose her medical ins |
She has diabetes and had cancer. He says that no one will give her insurance because of her medical history. Is this true? Are there alternatives? What are other options?
They are ... |
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 What do you think about No Win No Fee Insurance Claims. I have been approached by a company...? |
| I have been approached by a company who knew that I had had an accident back in March 2006 in Norfolk. I am from Essex and the accident was actually my fault. They are saying they will claim on my ... |
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 A question about health insurance... Please Help.? |
| First of all, I am twenty years old, and currently living at college. I have finally (after several days of debating) decided that I need to go to the hospital. I am either pregnant, or some other ... |
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 What should I do? My grandmother got ripped off.? |
| I just found out from my grandmother that her annuity has been taken advantage of by my older sister. My sister got the account information from my grandmother and then logged onto the company's ... |
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 What can I do? accident no insurance? |
| I had a car accident approx one hour before I had car insurance. I submitted the claim and everything is there a way to get them to pay for everything? will they pay much attention to the time?... |
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 Will health insurance cover existing medical bills? |
| I have a kidney stone that is unbearable and I want to get it checked out. I just applied for health insurance but I have to wait to find out if it's approved. Can I go to the hospital today and ... |
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CBadger | If I was a Car Insurance company, what could I do to make you stay another year? |
Except give you free cover! |
 |
 
RAY
|
When it comes to lowering premiums, whilst yes you have to be competitive, there’s no getting away from the fact that you have to ‘write for profit’, there’s no point in retaining customers if you end up losing money.
Motor business, especially in the UK, is very competitive. The margins are tight. So it’s about getting your pricing structure right and sticking with it… let the other guy write the business at a loss, in a years time he’ll have made a loss and have to either raise prices significantly or go bust. If he doesn’t make a loss… re-examine your pricing model!
As an example of how tight margins are, take Mary P’s suggestion of refunding 1 months premium for a claim free year. Seems fair and reasonable doesn’t it.
Well yes it does until you realise that the 5 largest motor insurers in the UK (comprising > 50% of the market) have a combined operating ratio of 99% !
That means for every £100 in premium they received, they only made £1 underwriting profit. The rest going on claims (about 75%), claims handling expenses (about 8%) Non-claims admin costs (around 7%), reinsurance, and other costs. So if you gave them back a month’s premium of £8… you’d make a £7 loss. OK I know it's a bit more complex than that... but the point stands.
Since the same goes for any ‘top-line’ financial incentive, there isn’t a lot you can do and still make money on the deal.
So really what it all boils down to is having the most accurate pricing model possible to offer the lowest profitable premium and giving the best customer service you can for the least amount of money. If you can crack that successfully you will go far! |
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leanne w
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offer good cover at a competitive price with good customer service on top.
Clarkworld - I have never had an accident and I say customer service is important. I work in insurance and I know customers will pay slighty more if they know they are receiving good service rather than switch to someone a few pounds cheaper. |
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Glimmering Winter
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Lower my possible excess in the second year if no claims in the first year... or throw in protected no claims bonus for free... oh and try not to sneakily remove things from the policy which my current insurer has tried to do!
obviously it also depends on how good they were in the first year. I stuck with mine because they were really good in dealing with an incident for me last year and got me all my excess and costs recovered and an excellent courtesy car so I felt they were good enough to stick with. |
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Sassi
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Don't bump the cost up so much. Mine went up about £150 (no claims made), so I just cancelled it and got it online with the same company for about £180 less. |
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Bluegray
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Give your client the best offer.. Best coverage and reasonable payments. |
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ClarkWorld
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Lower coverage is what most people look at. Then next I would day Customer Service. The only people who say customer service are ones who got in an accident, anyone who didn't will only say price. |
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j2frw
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give me the best cover at the best price |
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T C
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Under cut the best quote I'd found. |
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mary p
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At the end of the year, if you had no acccidents....I would reimburse you one month payment..YOU WILL STILL COME OUT WAY AHEAD....TRUE? |
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J G
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Be the cheapest - that's it!
And not charge £25 for changing vehicle, address or drivers! Thieving Post Office bastards! |
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