Strange Behavior from Insurance Company
Discussion
Renwal comming up (996 C4 '02), paying around £900 with N/Union at mo, confu$sd.com produced a very good offer from E-sure, £495 !!.. After adding legal/protected etc, came to £540 odd. I rang E-sure, booked it all in, paid , no probs. Rec'd docs in post 2days later.
I noticed the 2nd drives DOB was one digit wrong, so called up and changed, however upon changing they politely advised they could no longer insure me due to the Insurance group, ie gp 20.. After 20minutes of me telling me how unhappy I was they promised to look into it, but best they can do so far was to offer me £25 M&S vouchers and a refund!!!
Does anyone know where I stand legally , having paid and rec'd docs ?
I noticed the 2nd drives DOB was one digit wrong, so called up and changed, however upon changing they politely advised they could no longer insure me due to the Insurance group, ie gp 20.. After 20minutes of me telling me how unhappy I was they promised to look into it, but best they can do so far was to offer me £25 M&S vouchers and a refund!!!
Does anyone know where I stand legally , having paid and rec'd docs ?
Not sure where you stand legally but these insurance companies are a bunch of thieving bas**rds, im paying 2500 for my boxster only 20 year old i suppose but the difference in prices is ridiculous between the insurance companies. If they orginally insured you and sent docs i cant see how they can do that to you speak to an insurance ombudsman!! To be honest if the details on your insurance forms were incorrect then its not a legal document because its wrong so you may have a problem there... regards phil
This came up on the S2000 board that I moderate - a number of people had taken out competitvely priced policies from MORE TH>N (part of NU) only for NU to then contact them after a few weeks and say it was a system balls-up which meant that Group 20 cars were let through even though they don't insure them.
Sweet FA you can do - the policy contains a clause giving them the right to terminate the policy without cause on giving 7 days notice, I think. Take the vouchers, send them a snotty letter and don't even put any business their way again.....
Sweet FA you can do - the policy contains a clause giving them the right to terminate the policy without cause on giving 7 days notice, I think. Take the vouchers, send them a snotty letter and don't even put any business their way again.....
ruleshistory said:
guyvert1 said:
Does anyone know where I stand legally , having paid and rec'd docs ?
Don't think you stand well at all -- you gave them incorrect information in order to obtain the cover.
Crikey, nothing like throwing guilty comments about!!.. For the record, the day of the month was a 7 instead of 9, so not exactly a master move to defraud
But as per other comments, I suspected the legal criminals would come up smelling of roses
phil_dougan said:
Not sure where you stand legally but these insurance companies are a bunch of thieving bas**rds, im paying 2500 for my boxster only 20 year old i suppose but the difference in prices is ridiculous between the insurance companies. If they orginally insured you and sent docs i cant see how they can do that to you speak to an insurance ombudsman!! To be honest if the details on your insurance forms were incorrect then its not a legal document because its wrong so you may have a problem there... regards phil
Hate it when people accuse Insurance companies of being thieving b'stads. Think how much they are on the hook for if you stack your Boxster. Not just the potential payout of a total loss to you, but any third party damage, and personal injury claims as well.
I insured my F355 for £900 annual premium. They in turn paid me out circa £50k when it went up in a ball of flames. Certainly far from being thieving scum.
Come on some insurance companies just try it on and charge ridiculous prices, i had an insurance quote for a 1.1 fiat uno on a L reg last year to see if i insured a sh*t car on my own not as a named driver and it came back with £1600 be lucky if the cars worth £200 and your saying there not scum at all, i dare say they do try it on sometimes,theres obviously no guidelines that these insurance companies follow showing in the range in price from 2000 n odd quid for me boxster up to 6000 ridiculous.What caused ya ferrari to go up????
ek993 said:
phil_dougan said:
Not sure where you stand legally but these insurance companies are a bunch of thieving bas**rds, im paying 2500 for my boxster only 20 year old i suppose but the difference in prices is ridiculous between the insurance companies. If they orginally insured you and sent docs i cant see how they can do that to you speak to an insurance ombudsman!! To be honest if the details on your insurance forms were incorrect then its not a legal document because its wrong so you may have a problem there... regards phil
Hate it when people accuse Insurance companies of being thieving b'stads. Think how much they are on the hook for if you stack your Boxster. Not just the potential payout of a total loss to you, but any third party damage, and personal injury claims as well.
I insured my F355 for £900 annual premium. They in turn paid me out circa £50k when it went up in a ball of flames. Certainly far from being thieving scum.
phil_dougan said:
Come on some insurance companies just try it on and charge ridiculous prices, i had an insurance quote for a 1.1 fiat uno on a L reg last year to see if i insured a sh*t car on my own not as a named driver and it came back with £1600 be lucky if the cars worth £200 and your saying there not scum at all, i dare say they do try it on sometimes,theres obviously no guidelines that these insurance companies follow showing in the range in price from 2000 n odd quid for me boxster up to 6000 ridiculous.What caused ya ferrari to go up????
To be fair it's not a bunch of guys sitting around randonly choosing premiums to charge people. Insurance companies have actuaries that work out premium based on a number of factors including claims experience, and the type of risk they want to write.
Ferrari went up due to an electrical fault - whilst I was driving it on the M25!!
cayman-black said:
ek993 said:
phil_dougan said:
Not sure where you stand legally but these insurance companies are a bunch of thieving bas**rds, im paying 2500 for my boxster only 20 year old i suppose but the difference in prices is ridiculous between the insurance companies. If they orginally insured you and sent docs i cant see how they can do that to you speak to an insurance ombudsman!! To be honest if the details on your insurance forms were incorrect then its not a legal document because its wrong so you may have a problem there... regards phil
Hate it when people accuse Insurance companies of being thieving b'stads. Think how much they are on the hook for if you stack your Boxster. Not just the potential payout of a total loss to you, but any third party damage, and personal injury claims as well.
I insured my F355 for £900 annual premium. They in turn paid me out circa £50k when it went up in a ball of flames. Certainly far from being thieving scum.
No! I am a IT bod.
Re guidelines on what insurance companies should be charging - that would be silly as if an insurance company does not want to write that type of risk - eg 20 yr old living in London driving a performance car - why should they be forced to charge X premium? If they are not interested in that market, they will merely price themselves out of it, or provide a no quote.
Re the value of the car being £200, and the premium £1600, I see what you are saying, but with that £200 car you can cause a £20,000 third party claim.
Re the value of the car being £200, and the premium £1600, I see what you are saying, but with that £200 car you can cause a £20,000 third party claim.
Your confusing yourself with an underwriter they decide how much of a risk you are and then the insurance brokers sell what they have bought from an underwriters to you with a profit so therefore there well entruly capable of charging what they want, the bigger the price the bigger the profit for the insurance broker.
phil_dougan said:
Your confusing yourself with an underwriter they decide how much of a risk you are and then the insurance brokers sell what they have bought from an underwriters to you with a profit so therefore there well entruly capable of charging what they want, the bigger the price the bigger the profit for the insurance broker.
A broker places the risk with an insurer. The insurer sets the premium. The premium from the insurer is clearly stated in the policy documentation
Insurance brokers make a certain amount of commission on the policy which has to be clearly stated (assuming you use a broker). I am pretty sure the likes of esure are a direct insurer, so you are not paying broker commission.
A broker cannot say take a £500 policy and charge £1500 for it.
Not sure what your point is then, Phil....? Different companies have different target audiences and so load their actuarial assumptions and thus premiums accordingly. They're in business to make money so they set the premium they think they can get away with and bring business in, consistent with the risk they're adopting.
Don't get me wrong - I dislike premiums that take the piss as much as anyone else. But if you shop around, you can usually find someone prepared to offer a sensible price. If you can't, you're either (a) too young, (b) too much of a risk or (c) looking at too expensive/high power a car for your risk profile!
Don't get me wrong - I dislike premiums that take the piss as much as anyone else. But if you shop around, you can usually find someone prepared to offer a sensible price. If you can't, you're either (a) too young, (b) too much of a risk or (c) looking at too expensive/high power a car for your risk profile!
My point is that insurance should be based around the same guidelines and theres no reason why some should charge more than others its simply a racket, like you say yes they are insurance companies with sensible prices but theres a hell of a lot just trying it on by the up chance that somebody will part with 6000.
phil_dougan said:
My point is that insurance should be based around the same guidelines and theres no reason why some should charge more than others its simply a racket
But like I said, different insurers target different market sectors and so load their premiums accordingly. They don't all make the same actuarial assumptions nor do they set their premiums in the same way. It's up to insurers to decide how they want to price their risk.
It's not "simply a racket". If that's really what you think then, with the greatest of respect, you don't appreciate how the insurance market works.
With the greatest respect, my point is all insurance companies should set there premiums round the same guidelines and to be honest insurers that say they aim for a certain person who they wish to insure for example "that they specialise in young drivers with performance cars" tend to be the most exspensive, at the end of the day its a business and they are trying to make money i understand that otherwise they would'nt be doing it, all this protection and exscuses for insurance companies makes me think they are many insurance brokers on here.. i know it will never happen but insurers should take customers personal experience of motor vehicles into account, if somebody in a 1.0 corsa decides to get a porsche or ferrari or whatever then i can see the reason for being a big risk but someone like me who has had a number of performance cars in the past should'nt have to make up for the people who cant handle powerful cars etc obviously im digging a hole that could go on forever here with people making exscuses about certain cars being prone to been stolen etc.. ANOTHER THING IS i have friends who's fathers own companies and have company fleet insurance and insure there sons on powerful cars that they would never even get a quote for...so anybody who says insurance companies are fair etc is either a insurance broker or a bullshi**er...
phil_dougan said:
so anybody who says insurance companies are fair etc is either a insurance broker or a bullshi**er...
Well, that definitively settles that then, doesn't it?
Comparing fleet policies with individual policies is not like for like so I wouldn't try to use that as the basis for your argument. Joe Public never gets the same kind of deal as XYZ Limited which is looking to insure a number of cars, no matter who will be driving those company cars.
Gassing Station | Porsche General | Top of Page | What's New | My Stuff