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Our renewal premiums all gone up
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daizydoggy Subscriber 20/02/2013 Offline
old dog
old dog
Joined: Feb 10, 2007
Age: -1981
Posts: 8149
59520 LabPounds
No.of Labs: 5+
Lab Names: Leo (DOB 08/05/05) & Alfie (DOB 04/07/07) & Bomber (DOB 14/01/08) & Watson & Carrie & Daisy (Staffie-X)
Location: South Wales
Gender: Female

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PostPosted: Sun Apr 11, 2010 10:31 am    Post subject:   Reply with quote Scroll Down to Next postGo to last Post of PageTweet This Post
I agree Kimbley, it is shocking. I just don't know what to do - it's not easy finding the existing premiums for 6 dogs but now they are all going up by £40-50 a year EACH that's a lot of extra money to find each month all in all.

I always tell people how valuable insurance is - and yes, George's vets bills last year came to over £2500 for the treatment he had on his leg, but all of my boys now are through the "puppy stage" so unlikely to develop any problems like HD, ED etc.

Aaaaarrggghhhh decisions decisions



Vicki
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JohnW Subscriber 07/12/2013 Offline
The old dog
Joined: May 09, 2005
Posts: 15802
100042 LabPounds
No.of Labs: 1
Lab Names: Amy
Location: South Bucks
Gender: Male

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PostPosted: Sun Apr 11, 2010 11:31 am    Post subject:   Reply with quote Go to Top of PageScroll Up to Previous postScroll Down to Next postGo to last Post of PageTweet This Post
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I do agree with this, but obviously you need access to a certain amount of money before you could just stop your insurance. If I decided to save the equivalent I am paying on insurance, it would only be £1000 a year so really I would need to save tthat for about 3-4yrs PLUS pay the insurance in order to build up a reasonable pot. Otherwise there is no way I would have access to thousands of pounds.


Look at it this way. For everyone claiming more that they are paying in there must be at least two claiming less than they are paying. As costs of insurance go up then those claiming less will start to realise that it is a bad deal for them and will stop paying insurance. As the percentage of low claimers drop in comparison with the percentage of high claimers so premiums will have to rise in order for the companies to remain profitable. As premiums rise so the people who really need insurance, the less well off, will be unable to meet the cost of the premiums and will drop out. This will have two effects. 1/ Those left paying insurance will have sky high premiums. And 2/ Vets will loose the golden egg which they have well and truly fleeced over the course of the last 10 to 20 years. At that point insurance will be dead.

Regards, John
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