Postcodes risks

[Starlet_Sam]

Good info, however I live at an EH4 postcode. It's a very upmarket area and it's an E.

I used to live at EH11 which in all honesty, is a shit hole... and it's a D...

Kinda silly!

It could be a town full of millionaires with the best cars and the best things money can buy but if that attracts a load of shits nicking stuff it'll cause claims, and that is why it's a bad area.

 

[cameroon95]

Hence another reason why you should all move to aberdeen, europe's oil Capital.

Forget the radioactive granite that may or not increase your risk of cancer

 

[Matt_Seicentos]

I'm in a B zone

 

[skyinsurance]

Maybe its because we eat coal, and drink real beer?

LOL

The chart above is purely only a rough guide split down into postcodes.. as I mention, all insurers have their own risk charts.
Unfortunately DN22 is a high risk postcode according to our underwriters' records.. hence the strict criteria laid out in the other thread. Our criteria is bang up to date and draws information from claims stats released on a monthly (or quarterly I'm not 100%) basis.

This is a fascinating discussion.. it is similar to insurance grouping for cars, ie group 1-20. Most people think that all insurers use the same grouping so they think the groups are set in stone. The grouping given to a car is purely there as a guide.. each insurance underwriter will work from their own claims statisticsm and will use those to dictate the price.

At Sky Insurance, we look at the driver and the area more so than the vehicle... if a customer is a decent age, in a decent postcode, with good driving experience then they can insure most cars..

Ollie

 

[skyinsurance]

It could be a town full of millionaires with the best cars and the best things money can buy but if that attracts a load of shits nicking stuff it'll cause claims, and that is why it's a bad area.

Another very good point there. Sky Insurance struggle with Liverpool postcodes... I had a potential customer a few months ago who we had quoted a higher rate than he'd had from our competition and was not at all happy.. His arguement was that although he admitted living in a high risk area, he was living in a gated and security patrolled community.. apparently where a lot of premiership footballers live.. my (slightly tongue in cheek) response was: "Are these the same footballers who keep having their houses broken into?! "

At the end of the day, you may live in a beautiful sleepy village on the edge of a city, but that doesn't stop the scrotes coming out of that city and vandalising/stealing you car.

Claims stats are the only true test of an area. Claims ststs do not lie and this is why insurance companies have them .

Ollie
Sky Insurance

 

[gv1.3]

thanks Ollie,

great to get an insight into how this all works. I think being open and honest about how insurance is calculated and how risk is assessed is a great step in the right direction. I mean if I was shown a chart like the one above and my area was being listed as high risk then at least I know why some insurance companies dont want to touch me.

I think taking the personal feeling of "we dont want your business" out of the conversation and basing the decision on facts makes everyone feel better but a lot of insurance brokers can seem as faceless as the big insurance companies themselves so glad to see you guys are willing to give an explanation and educate rather than putting up the barriers when people ask questions.


Again thanks for an insight into how this works.

Dylan

 

[GTti]

I agree risk areas obviously should have a direct effect on price, however total refusal to insure I can't really see how it can be justified. You'd expect a higher price could just be drawn up and offered.

Refusal to insure due to a post code is like saying “Well hang on we want to take your money for insurance, but actually because there MIGHT be a real chance your car is stolen or damaged then… no sorry.”

Many people here I'm sure are playing up to 50% of the market value of their car, per year. I know I was when I first started insuring my GT, although it came down reasonably quickly when moving insurer.

 

[Elaine]

I had a potential customer a few months ago who we had quoted a higher rate than he'd had from our competition and was not at all happy.. His arguement was that although he admitted living in a high risk area, he was living in a gated and security patrolled community.. apparently where a lot of premiership footballers live.. my (slightly tongue in cheek) response was: "Are these the same footballers who keep having their houses broken into?! "

Ollie
Sky Insurance

Hahahaha Olli would have loved to been listening in on that conversation!!!

I do think this is excellent information and will really help a lot of people out when looking at getting and GT and the relevance having it in there area.

Reps added

Ps as nothing every happens in my town I look forward to talking to you come renewal time

 

[skyinsurance]

I agree risk areas obviously should have a direct effect on price, however total refusal to insure I can't really see how it can be justified. You'd expect a higher price could just be drawn up and offered.

Refusal to insure due to a post code is like saying “Well hang on we want to take your money for insurance, but actually because there MIGHT be a real chance your car is stolen or damaged then… no sorry.”

Many people here I'm sure are playing up to 50% of the market value of their car, per year. I know I was when I first started insuring my GT, although it came down reasonably quickly when moving insurer.

I appreciate what you are saying.. a lot of insurance companies will give you a sky high (excuse the pun) if you are high risk as a polite way of telling you to 'jog on'.

At Sky Insurance, we take a different appoach... rather than politely telling the customer to jog on with a ridiculous price, we will explain that we are unable to cover them for whatever the reason is.

To be honest, we would rather not insure the higher risk drivers as they will effect our claims loss ratio. By saying no, we can preserve our claims loss ratio and pass the savings onto customers in other ways.

 

[Kelly]

Does this not change over time thou?

This list has been going around ages?

Im an E

Got refused insurance from Sky but got cracking offers from Flux and another company which name escapes me.

Im with Flux now.

I will try them then Gee, as sky wont insure mine as its an F. Sucks really coz ive never had any trouble round here, yet when i lived on a brand new estate my car got broken into.

 

[John757]

Well I find it a load of hairy banana's tbh...i've got an Oldham postcode, which brand's me as an E risk factor, when I live no where near Oldham or its surrounding area's! Oldhams in Lancashire and I live in Yorkshire! Its a completeley different county lol Its a joke. Don't see why I should have to pay extra ££££ when I live near nothing apart from cow's in field's. If cow's stole car's Id understand....

 

[Gee]

I will try them then Gee, as sky wont insure mine as its an F. Sucks really coz ive never had any trouble round here, yet when i lived on a brand new estate my car got broken into.

Kelly,

Flux are really strange, they have given me crazy quotes in the past.

My advise is to ring around for quotes and once you have a decent one, then give Flux a ring to see if they can beat it.

This worked for me, as last time I rang them first and they asked what my best quote was. I did not have one and they gave me some insane quote.

 

[Kelly]

Kelly,

Flux are really strange, they have given me crazy quotes in the past.

My advise is to ring around for quotes and once you have a decent one, then give Flux a ring to see if they can beat it.

This worked for me, as last time I rang them first and they asked what my best quote was. I did not have one and they gave me some insane quote.

Thanx Gee will do

 

[lingl9z]

No wonder my insurance is quiet high im SM6 and thats an F*

 

[Suspected_Psycho]

Wohoo B

 

[Harvey]

Good to know that both my parents place in blandford, and where i live in bournemouth are bohth low risk A

 

[Iain@CRD]

Great work, rep added always had an interest to find out what my area was.

 

[ragz]

cant find mine on there

its ol9, oldham

 

[skyinsurance]

cant find mine on there

its ol9, oldham

It couldn't be much worse unfortunately

 

[starbogt]

right I live in S8 postcode and live in nottinghamshire not sheffield! lol also what does refer mean? I know its only a guidance but with the wide range of places the codes are in how can this be accurate in any way?