European insurers focus on the vehicle rather than the driver - why don't UK insurers operate like this?
After living in France for some years, and insuring a car which covered all drivers, I cannot understand why UK insurers base prices on the driver rather than the car. A friend in Spain insures a car that anyone can drive. Why do UK insurance companies operate in a different world to European companies?
Asked on 15 February 2018 by John Ballinger
Answered by
Tim Kelly
It's because they underwrite the risk differently. In the UK, it's driver led, but in other countries, it's about the vehicle. In Australia, the insurance is purchased with the road fund license, and anyone can drive. In America, they don't have compulsory insurance - it is done on a state by state basis. Europe does operate on a similar basis though, as the 2009 EU directives mandate that from country to country in the EU, that they work to the same statue under the insurance directives (the main reason stems from the 1933 Road Traffic Act for third party risk): ec.europa.eu/info/business-economy-euro/banking-an...n
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insurance
driving abroad
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