Online motor quotes

[justlar]

Was filling out an online motor quote and was frustrated by the amount of information I
Had to fill out.

What is the minimum amount of information the insurer needs for a quote?
For example,
Do they need my name and address? Would area code suffice?
Do they need my exact job description or just whether it is sedentary or otherwise?
Do they need exact make and model of car or just engine size?
Do they need the value of the car? (as in the event of a claim they look up the value based on depreciation and current values)
Thanks

 

[CCOVICH]

I'd imagine the insurer can ask you whatever they want. Whether or not you want to give them the information is up to you.

 

[efm]

To the best of my knowledge insurers use as much info as they can get to risk rate you.

1. Name and address is probably used in case you go ahead an purchase based on the quote then they won't have to contact you for more info
2. Job descriptions make a difference apparently - sedentary vs mobile is a big one but I think some professions attract a higher risk rating - ie Racing car driver!!
3. Make and model make a difference - a subaura 2.0 lt turbo is different to a 2.0 lt turbo saab
4. Value of the car makes a difference - if it's a BMW there is a higher chance of someone trying to steal it vs a Nissan

 

[RainyDay]

Hibernian have a 'quick quote' service which required fairly minimal information.

 

[quarterfloun]

I worked for a UK broker....we wrote the software that spit out the price. The big rip offs is protected no claims cover because even though you may have 65% NCB protected the fact you have had an accident negates the apparent saving! --- Using loose figures here ---- If your insurance is 100 pre accident discounted to 35 by your NCB. Have a smash your insurance is now 100 *20% = 120 then take away your NCB = 80 ....your insurance has gone from 35 to 80 but your NCB was applied.
Other nasties are any "drink" related occupations, nursing (dodgy hours = tiredness driving home...) etc.
Cars are loded on Insurance group ratings and then ADDITIONAL loading is put on on value and then PERFORMANCE.

Problem with this is that this calculation is logarithmic....its not Add & subtract all pluses and minuses then apply to base premium --- we applied most loadings to increase premium to keep away Boy racers and reps and expensive but not prestige cars....reason it is percieved that prestige cars owners are less likelt yo torch their own cars in personal finance crisis's.

Also there is a minimum premium - so no matter if you do really qualify for 100 euro a yer (dreamland) the premium is hiked to say 150 anyway so again 65% NCD is not quite what it seems.

One other thing it is alleged that T**** in England have a great way of doing business and it may apply over here...if they have not sold enough policies to cover their daily business expectations (ie the book of risk) the premium is lowered to attract more business that day....try it! Call in using ficticious details early on in the day - try again in the evening and see if lower. This may not apply in ireland as competition is not as fierce as it is in England.
Also brokers get 10 to 20% of your premium but if you go on line no difference....ergo more profit for the insurer.
Oh and Insurers reinsure elsewhere - they take their book and put it on risk somewhere else!!!

So you pay the broker, the broker pays the insurer, the insurer pays the underwriter and the underwriter sells his book to an investor! How many layers of payout do you need?

Enjoy being ripped off!!!!