I CONFRONTED THE GOVERNMENT ABOUT CAR INSURANCE

By

1. The Problem: Skyrocketing Premiums

  • Mark highlights the “insurance epidemic” where premiums have risen so high that people are spending most of their earnings just to be legally on the road.

  • This has led to an estimated 1 million uninsured drivers in the UK, creating a risk for everyone else (no compensation if hit by one).

  • Mark’s personal struggle: He was refused insurance for his Lamborghini Revuelto and his fleet of 80+ cars because he drives them on private land for YouTube, which insurers view as high risk.

2. Whistleblower Revelations

  • Mark interviews a former employee of a large insurance company who describes a “predatory” culture:

    • High Pressure: Office floors had screens showing everyone’s sales performance, creating a “Wolf of Wall Street” environment.

    • Unfair Treatment: The employee was disciplined for giving a vulnerable elderly lady a discount she was eligible for but hadn’t asked for.

    • Profit over Service: Staff were pushed to upsell unnecessary products rather than provide the best service or price.

3. The “Create Your Own Insurance Company” Experiment

  • The Idea: Viewers suggested Mark start his own insurance company to insure his own fleet for “free” (no premiums).

  • The Process:

    • Registered “Mark McCann Car Insurance” with Companies House (£86).

    • Contacted the FCA (Financial Conduct Authority).

      • Cost: Registering with the FCA costs £25,000. Mark calculated this would still save him money over 25 years compared to paying premiums (e.g., £6,500/year just for the Lamborghini).

  • The Roadblock: To operate, an insurance company must hold a massive cash reserve to pay out claims.

    • The Cost: ~£3 million liquid cash required.

    • The Risk: If he crashed into an expensive car (e.g., a Bugatti), he would be personally liable for the millions in damages. Mark realized the risk was too high and abandoned the idea.

4. Investigations & Experiments

  • Price Fixing/Algorithms: Mark tested insurance quotes with identical details but at different times of day.

    • 4 PM: £2,221

    • 9 PM: £2,221

    • Late Night/Early Morning (4 AM): Price jumped to £2,674.

    • Conclusion: Prices fluctuate based on time of day (possibly targeting desperate late-night users), which Mark argues breaches “Treating Customers Fairly” guidelines.

  • Accident Management Greed: Mark shares a story where a repair center inflated costs.

    • A Volvo worth £27k had £10k of damage. The insurer writes off cars if repairs exceed 50% of value.

    • Because the repair had “low labor” (not profitable for the garage), the garage intentionally damaged the gearbox with a hammer to increase the repair cost, forcing the car to be written off so they could move to a more profitable job.

  • Tim Kelly (Motor Claims Guru): Confirms the industry is rife with malpractice, such as undervaluing written-off cars to save money and breaching commission disclosure regulations.

5. The Solution: Government Petition

  • Since the “self-insurance” loophole failed, Mark decides the only way to lower premiums is top-down government intervention.

  • He meets with a local councilor, Matt Dormer, who advises starting a Petition.

  • Goal: Get 100,000 signatures to force a debate in Parliament about the unfair practices and rising costs of the car insurance industry.

  • Call to Action: Mark urges viewers to sign the petition at markmccann64.com to demand an investigation and regulation reform.

Key Takeaway

The video exposes the car insurance industry as “predatory,” using opaque algorithms and incentivized greed to inflate costs. While individuals cannot easily bypass it (even by starting their own company), collective action through a government petition is presented as the only viable path for change.

Had a six year old car stolen. It had crashed over a stone wall. When the insurance looked at the car they said all the damage was old!!!. The whole floor pan was bent splaying out the seats. Rear doors would not close. It was mot,d just three weeks before it was stolen. The mechanic wrote me a letter saying the car was perfect when he mot,d it. It took just over one year and a court case to get my payment from the insurance company. My only claim in fifty years. Do I trust insurance companies .???

Bang on – just went through this myself. No fault claim, took car to approved repairer recommended by insurance £8500. Took it to another manufacturer approved body shop who quoted £5000. When I confronted the first company they said “it’s an insurance claim so doesn’t matter what the cost is”. Absolutely ridiculous and a key reason we are all paying more.

In most European countries, car insurance covers you insure vehicle itself, not the driver. This means that anyone who drives the car is covered by the policy and it covers the car and medical. However, in UK insurers exploit loopholes by requiring named drivers or multiple policies for the same car, leading to unnecessary costs for consumers.

We had a car right off, car was parked up and a lorry went down the side off it.. insurance company pushed for us to claim everything. Child seat was on the opposite side and untouched – they told us they would send us £200 instantly to buy a new one, they asked/ suggested us to fraudulently claim “was there anything on the seat that got damaged, any electronics a phone or laptop maybe?” We didn’t claim for anything and ironically had to fight them for a decent price for the market value of the car as ours had really low milage yet they where consistently offering us way under the market value.. so they push for extra claims yet want to minimise their offer for your write off.. 100% shade corruption across the sector!

I’ve worked in the industry, you get paid pittence and just told to reiterate the policy documents over the phone. They tell you to argue with customers and remind them that insurance is mandatory by law and not the insurers fault that your premiums are sky high. They do ANYTHING to not pay out and the amount of proof and paperwork required to claim is designed to deter claims.

Similar Posts