Errr.... we seem to be on another planet as far is maths is concerned..... and FACTS!
1) The average 17 year old's premium seems to be (we are told by Rich84), not £1,000 but, £3,500!!!!
2) From 10 drivers, who ever said that the insurance companies would only need to make £1000? That's only £100 'profit' per premium!
They are involved in a 'risk-management-system' involving the probability that just ONE of the batch of accidents could cost them 4 or 5 MILLION POUNDS! The 'real world' tells me that a 'profit' of £100 is quite D*E*F*N*I*T*E*L*Y insufficient to cover THAT sort of risk. If only one out of 10,000 (TEN THOUSAND) customers got to that range and NOT ONE SINGLE OTHER CUSTOMER MADE A CLAIM, that would be STILL be a LOSS of £300 PER CUSTOMER!!!! Just to 'break-even' would require FORTY THOUSAND CUSTOMERS of which 39,999 NEVER make a CLAIM!!
Yeah..... likely!
Tangler...... you youngsters are DREAMING!
But..... I could be wrong.... why not prove me so and get together with the rest of you youngsters and BUY Quinns..... You are SURE you can make a profit on it.....!
Ian
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