Confused - Insurance gave given me a M3!!!!
Discussion
Decided to have my mid life crisis and get myself a 986S for a year or two. Not having more that three weeks, some goon decides to swipe it at a mini rounder about. After plod arrived, he simply drove off, but mine had it rear axel destroyed (and lots else). I thought it was his fault, but as no witnesses (and being cynical) I thought it was going to be a 50/50. However the following morning my insurers (Admiral) got their middle men (Albany Assistance) to ring me, and delivered me a BMW M3. Delays getting my car repaired, means I have had the M3 for 8 weeks, and according to the paperwork, this is costing Admiral £350 per day (errr.. rip off). Just cannot understand why they gave me a M3, when a Ka would have done the job, especially if it's looking like a 50/50. Apologies of these affects you premiums next year, but they ignored all my hints that they may want to reconsider their choice of replacement.
Bus pass. 
Read your contract - Albany's standard terms of business almost certainly make YOU liable for the cost of the hire which they try to recover from the other motorists insurers. If they only get a part of it back then they have every right to sue you for the shortfall.
If I were you I would be very nervous about the costs racking up because you have probably incurred more in hire charges than your car was worth.
There is a tale of woe on www.fool.co.uk (a financial website) about someone in a similar position to you.
If I were you I would be very nervous about the costs racking up because you have probably incurred more in hire charges than your car was worth.
There is a tale of woe on www.fool.co.uk (a financial website) about someone in a similar position to you.
I got an M3 when my M5 was crumped when parked, so in my case there was no question on liability but I was told (backed up in writing) that I'd not be held to account no matter what.
My understanding is that they'll only give out these hugely expensive hire cars when they're pretty sure they'll get their money, and if not it comes with an insurance policy to pay the hire charges if you lose.
But obviously check the wording!
SM
My understanding is that they'll only give out these hugely expensive hire cars when they're pretty sure they'll get their money, and if not it comes with an insurance policy to pay the hire charges if you lose.
But obviously check the wording!
SM
I'd be careful, my parents were offered a brand new merc SLK when ours was hit by a young driver. In the end althouh=gh the fault was theirs, the company insisted we paid for the hire car..my advice would be to read the small print, as we had to take them to court to get the matter resolved..eventually in our favour..but a lot of hassle
I'm s**ting bricks now. I 'believe' I received assurance from Albany stating that I wouldn't have to pay, but the thought of having to pay 14K worth of hire costs is giving me a ulser. Hopefully getting the boxster back in the next day or so, so watch this space. Only hope that a big company like Admiral wouldn't employ a sneaky company, to act on their behalf. Half beinging to wish that the car had been Cat D'ed, as the garage seem to be taking a hell of a long time to fix it (5 weeks).
ts095168 said:
I'm s**ting bricks now. I 'believe' I received assurance from Albany stating that I wouldn't have to pay, but the thought of having to pay 14K worth of hire costs is giving me a ulser. Hopefully getting the boxster back in the next day or so, so watch this space. Only hope that a big company like Admiral wouldn't employ a sneaky company, to act on their behalf. Half beinging to wish that the car had been Cat D'ed, as the garage seem to be taking a hell of a long time to fix it (5 weeks).
Sorry mate but you should be worried. Did you get it in writing that you don't have to pay? If not then it's a worthless statement - you can only agree stuff like that in writing.On your second point these companies are out to make money. They hook you with a cheap premium and then give it to you up the pipe in other ways. Did you READ your policy before you signed it - it will have a clause in it about hire car costs and who pays. If they don't recover in full from the other party (i.e. if he's uninsured or it's 50/50) you might end up getting fvcked here.
Speak to anniesdad on here. Quickly.
This is the very reason I bought just about the most expensive insurance there is (Chubb Masterpiece) which costs me well over two grand a year, but stops me being exposed to all this sh1t.
There are a LOT of people making a LOT of money out of this type of expensive loan car.
Speak to anniesdad quickly.
Edited by Vesuvius 996 as first post sounded like I was lecturing, sorry
Edited by Vesuvius 996 on Friday 17th August 09:52
Hi,
This is a pretty interesting thread - something I havent really considered. Good luck with it though.
I know this is a tiny bit off topic (so please don't shout at me) but Vesuveuis996 said that this was the reason that he went for the most expensive insurance. I am a great believer in you get what you pay for, but it never seems easy to work out what you are going to get from the differnet companies. I have had quotes for a x50 996 TT that range from £1050 to £5K and apart from the price have no idea what to go for. Does anyone else understand this stuff? I dont want hassle if I have to make a claim and am happy to stump up more than a grand for the privilage......
This is a pretty interesting thread - something I havent really considered. Good luck with it though.
I know this is a tiny bit off topic (so please don't shout at me) but Vesuveuis996 said that this was the reason that he went for the most expensive insurance. I am a great believer in you get what you pay for, but it never seems easy to work out what you are going to get from the differnet companies. I have had quotes for a x50 996 TT that range from £1050 to £5K and apart from the price have no idea what to go for. Does anyone else understand this stuff? I dont want hassle if I have to make a claim and am happy to stump up more than a grand for the privilage......
Paying through the nose for insurance *every* year just because you might one day need a hire car at somebody elses expense is idiotic IMO.
The very first thing anyone should do in the event some numpty crashes into them is to phone the Accident Exchange.
Both supermono and I have experience of their excellent – FREE – service, and they’ll give you as close to a like-for-like hire car as they can for the duration yours is being repaired. The catch is, they’ll only take your case on if they consider that they’ll get enough back for it to be worth their while.
In our case, my fiancée was hit by a myopic old bint who was short-cutting a roundabout. £750 damage to our 350Z and we got a new 330D MSport for 10 days.
I shudder to think what that cost the other side, but AE gave as many assurances both verbally and in writing that whatever the outcome, we would not be responsible for the hire costs.
What’s the point in paying an inflated premium to start with, when there are companies out there that will deal with you at no cost.
The very first thing anyone should do in the event some numpty crashes into them is to phone the Accident Exchange.
Both supermono and I have experience of their excellent – FREE – service, and they’ll give you as close to a like-for-like hire car as they can for the duration yours is being repaired. The catch is, they’ll only take your case on if they consider that they’ll get enough back for it to be worth their while.
In our case, my fiancée was hit by a myopic old bint who was short-cutting a roundabout. £750 damage to our 350Z and we got a new 330D MSport for 10 days.
I shudder to think what that cost the other side, but AE gave as many assurances both verbally and in writing that whatever the outcome, we would not be responsible for the hire costs.
What’s the point in paying an inflated premium to start with, when there are companies out there that will deal with you at no cost.
korma007 said:
I am a great believer in you get what you pay for, but it never seems easy to work out what you are going to get from the differnet companies. I have had quotes for a x50 996 TT that range from £1050 to £5K and apart from the price have no idea what to go for. Does anyone else understand this stuff? I dont want hassle if I have to make a claim and am happy to stump up more than a grand for the privilage......
I *always* read the small print on my insurance policies as they're all different. Not only for car stuff, but also for house.Regarding the loan car element on my Cayman policy, it's worded in their favour - similar to how the OP's sound. So, if I pranged it and it was off the road I would not take the offer of their car, but use my own second one. However, if someone clouted me from behind and was in my mind totally the 3rd party's fault and I could confirm he had valid insurance, only then I would take the offer of a similar car.
I always consider insurance companies are crooks and are out not to pay you, erring on the side of caution. (Mind you, I have 17 years no claims!)
PS. House insurance is the same. I had a friend who had one of 3 joined houses that were slipping down a hill. All 3 of them needed demolishing and rebuilding. 1 insurance paid for rebuild, 12 months accomodation, storage and complete refurbishment (carpets, wallpaper, paint, etc..), another paid for rebuild, 6 months accomodation and partial refurbishment, the other paid for rebuild, 1 months accomodation and no refurbishment. I don't know how different the policy premiums were, but considering these people were paying at mortgage at the same time, the person with the 3rd policy was a bit stuffed.
timskipper said:
Paying through the nose for insurance *every* year just because you might one day need a hire car at somebody elses expense is idiotic IMO.
The very first thing anyone should do in the event some numpty crashes into them is to phone the Accident Exchange.
Both supermono and I have experience of their excellent – FREE – service, and they’ll give you as close to a like-for-like hire car as they can for the duration yours is being repaired. The catch is, they’ll only take your case on if they consider that they’ll get enough back for it to be worth their while.
In our case, my fiancée was hit by a myopic old bint who was short-cutting a roundabout. £750 damage to our 350Z and we got a new 330D MSport for 10 days.
I shudder to think what that cost the other side, but AE gave as many assurances both verbally and in writing that whatever the outcome, we would not be responsible for the hire costs.
What’s the point in paying an inflated premium to start with, when there are companies out there that will deal with you at no cost.
... but if the other person is not insured (and has no money/assets), then what? I strongly suspect you will be asked to pay.The very first thing anyone should do in the event some numpty crashes into them is to phone the Accident Exchange.
Both supermono and I have experience of their excellent – FREE – service, and they’ll give you as close to a like-for-like hire car as they can for the duration yours is being repaired. The catch is, they’ll only take your case on if they consider that they’ll get enough back for it to be worth their while.
In our case, my fiancée was hit by a myopic old bint who was short-cutting a roundabout. £750 damage to our 350Z and we got a new 330D MSport for 10 days.
I shudder to think what that cost the other side, but AE gave as many assurances both verbally and in writing that whatever the outcome, we would not be responsible for the hire costs.
What’s the point in paying an inflated premium to start with, when there are companies out there that will deal with you at no cost.
korma007 said:
Hi,
This is a pretty interesting thread - something I havent really considered. Good luck with it though.
I know this is a tiny bit off topic (so please don't shout at me) but Vesuveuis996 said that this was the reason that he went for the most expensive insurance. I am a great believer in you get what you pay for, but it never seems easy to work out what you are going to get from the differnet companies. I have had quotes for a x50 996 TT that range from £1050 to £5K and apart from the price have no idea what to go for. Does anyone else understand this stuff? I dont want hassle if I have to make a claim and am happy to stump up more than a grand for the privilage......
You get what you pay for generally, BUT it's not the premium but the policy which matters to me. I bought on quality of cover not price - didn't quite make that clear sorry.This is a pretty interesting thread - something I havent really considered. Good luck with it though.
I know this is a tiny bit off topic (so please don't shout at me) but Vesuveuis996 said that this was the reason that he went for the most expensive insurance. I am a great believer in you get what you pay for, but it never seems easy to work out what you are going to get from the differnet companies. I have had quotes for a x50 996 TT that range from £1050 to £5K and apart from the price have no idea what to go for. Does anyone else understand this stuff? I dont want hassle if I have to make a claim and am happy to stump up more than a grand for the privilage......
Check this out. This is PROPER car insurance - not something sold by a call centre in Indo-China.
The broker came to meet me at my home, and inspected the car, my documents, the car park security, everything. That way they just pay out an agreed amount about three days after a write off - they "do the lost adjusting before we issue the policy...."
http://www.quantumplc.com/brochures/Quantum%20Moto...
Agreed value for write offs (no GAP cover needed)
Fully comp to drive ANY vehicle for me
Anyone can drive my vehicle fully comp
No fault claims not counted against you
Equivalent courtesy car paid for by Chubb, not you
Interest free instalments
etc etc etc.
Amazing cover. Not cheap, but amazing cover.
I went through James at Quantum. Highly recommended.
So what do you want to do? Pay a few hundred less and buy from some a call centre, or pay a bit more and get some decent personal service from someone who you can call on their mobile whenever you want to speak to them.
Edited by Vesuvius 996 on Friday 17th August 11:17
One other thing - this policy costs me 15 a month more than Tesco.
No brainer.
Edited by Vesuvius 996 on Friday 17th August 11:53
One other thing. All this costs me 15 a month more than Tescos.
No. Brainer.
Edited by Vesuvius 996 on Friday 17th August 11:54
I had a Merc for 6 weeks other driver admitted liability to his insurance, I received a letter to say so.He then retracted this and the hire car company took £5000.00 off my credit card! That was a 18 months ago, the case goes to court in Jan. I would speak to the hire car company direct
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