Basing this purely on your posts, I didn't realise many investment companies raised most if not all all their funds through selling insurance at cost.
They don’t, insurance companies make much of their profit from investing the premiums. btw printer companies also change a service charge keep digging if you like. Fact is insurance companies make little or nothing directly from the money you pay them for personal lines insurance.
Bradders you're contradicting yourself. Investing the premiums is the same as raising the funds for their investments. Photocopier companies that I knew very well were charging for maintenance and paper (as I said earlier) whilst appearing to be a photocopier business. Many would say they were a paper and ink company.
Whatever mate. Get back under a bridge. It’s clear what I’ve said and it’s about insurance companies specifically not investment companies.
I renewed my policy last Nov for my street triple, paid the policy in full, swapped the bike for my Ducati in Feb, they quoted a ridiculous premium for my new bike so the policy was cancelled and I got nothing back and insured the new bike elsewhere, partly it’s scandalous but equally the cover was dirt cheap as many insurers make their money when you alter the policy, my lesson from that was that you need to be changing bike close to your policy expiring rather than closer to the start of it !
There is a huge number of factors impacting the price of insurance. Even though our NCD is high it may be less meaningful in a small town than in London. Also, if couple claims happen during the year in that small town, even though it's not on our policy it is quite likely it will impact it on renewal. On every renewal I like having some play with pages like gocompare to see how different factors change the price. However, what we put at the end should be in line with how we use the bike. E.g. I've added "cosmetic exhaust" to my policy because it was only +£5 even though i didn't have it at that time. If i hadn't done it when i fitted it I would have paid at least +5 +admin fee. I remember long time ago adding commuting to one of my cars actually decreased the premium. From insurer point of view it should be added even if you only plan to commute by car/bike couple times a year. For my first bike adding Kryptonite lock reduced the price by 50% of the lock so I ordered it at the same time. Profit-wise, big companies like Aviva doesn't have to earn anything from MTPL, it's more important for them to have a good PR/trustpilot review because customers are more likely to buy other products with better margins.
