Insurance …. nuff said … well obviously not otherwise the remained of this post would be superfluous.
Last week my Sister and I sat at the computer intending to go through the various car insurance sites and find the best option for her needs. Ha! The small print is nothing to the micro print. Okay, so the quote pops up which is a very reasonable figure and it kindly informs us that it includes the Governments insurance tax but not the legal protection, so that gets added, then the other add-ons start, replacement keys, personal injury, loss of goods from theft, loss of goods through fire, loss of cash through theft/fire, replacement vehicle while yours is being repaired because of theft or fire. At this point I am beginning to wonder what the fark is the basic comprehensive cover insurance actually for??!!?? The original quote figure is now practically doubled!!
A few months back my niece attempted to cancel her car insurance, they wanted to charge her more than the remaining premiums, so I got on the job and discovered that all the little add-ons were going to be charged for the remainder of the policy and an admin fee for cancelling it before the end date. I tactfully brought to their attention that they had mislead their client and missold these ad dons by failing to bring to her attention that these would be charged at the full 12 month rate regardless of any cancellation prior. They capitulated and offered a rather nice good will gesture – not to charge the admin fee! Bo-llocks to that.
Car Insurance is notorious for its expense and down right dirty tricks to make you pay out more and more yet find the loop hole for not paying out on a claim but it is a legal requirement for being on the road. There are instances where the cost of the basic basic third party insurance for a new driver will actually be 12 times more expensive than the car the kid is driving.
A couple of days ago I got my renewed credit card through the mail and the latest ‘con’ seems to be getting the recipient to call in and activate the card by acknowledging its safe and untampered delivery ….. seems reasonable, unless you are the cynical type like me ….. I called and tapped in the numbers, went through the menus and got put through to a real living English [first language English too] speaking fellow who then proceeded to pressure me into purchasing the ‘payment protection policy’ and the ‘anti identity theft’ protection. He didn’t seem to understand me when I said “No, thank you”, poor fellow he did try but the more he tried the more I swatted back with the view that no matter how much protection I paid for, I’d still be left out of pocket and out in the cold if anything were to happen.
How many of us, or of the people we know, have ever had a 100% totally straight forward, full and proper pay out from an Insurance Company?
I think the final nail in the Insurance Industries reputation for me was after Hurricane Katrina in 2005 where insurance companies were not paying out on claims because claimants could not unequivocally prove whether it was flood damage [in which case home insurance paid out] or whether it was hurricane damage [in which case the separate hurricane insurance paid out] was what caused all the damage to the car/house/belongings and even if it could be proved as the damage was worsened by the other they wouldn’t pay out significant amounts.
Once upon a time there was motor insurance, buildings insurance, contents insurance and that was about that for Joe Public, but now we have glass insurance, jewels insurance, personal accident insurance, pet insurance, holiday insurance, caravan insurance, landlord insurance, fraud insurance, identity insurance, payment protection insurance incase of ill health or loss of job, health insurance, and each of these has their own brand of add-ons that cover more and more specific instances. Somewhere there is an insurance to cover your need to make an insurance claim because your left pinky finger nail varnish chipped away an area of no more than 2 mm total on a wet Wednesday afternoon at an altitude of 300 feet while drinking an organic yack’s milk latte through a green stripy straw and the company wouldn’t pay out on the grounds that the coffee was hot enough to affect the molecular structure of the varnish weakening it so it peeled away from the nail and thus was not covered.
Insurance, Government approved, legalised extortion.