Insurance

[rf065]

Admiral car insurance loses thousands of customers

The car insurer has lost many customers on the back of steep price rises and a jump in vehicle repair costs.

www.bbc.co.uk

Admiral loses 380,000 customers, but profits are up!

 

[AMGeed]

Admiral car insurance loses thousands of customers

The car insurer has lost many customers on the back of steep price rises and a jump in vehicle repair costs.

www.bbc.co.uk

Admiral loses 380,000 customers, but profits are up!

Probably overcharging on House insurance as well

 

[rorywquin]

Brokers are useful if you have a remapped or modified car and find getting insurance difficult. They can usually find a deal somewhere.
But its pretty obvious brokers can't compete when you take their commission into account.
Not that long ago brokers were the only place to get your insurance. Along came the internet.

30 years ago I only used brokers for insurance and they were good - particularly when dealing with claims (I’d hand all the details over to my guy and he’d sort it) . These days - I’m not sure what value they add except to get a commission for selling you.

 

[AMGeed]

30 years ago I only used brokers for insurance and they were good - particularly when dealing with claims (I’d hand all the details over to my guy and he’d sort it) . These days - I’m not sure what value they add except to get a commission for selling you.

Brokers are getting a rare breed. Hardly see any on the High Streets now.
I agree, any little bump and you gave them the accident report form and left them to deal with it.
The internet is good in many ways, instant cover , find your own cover etc but the personal touch has gone.

 

[fabes]

Brokers were of value when relationships, real people and commonsense or discretion was part of the underwriting process.

The computer says no (or yes) now.

Perhaps for HNW clients with specific needs and odd requirements they have a place in private motor, but otherwise they can't do anymore than us (and some cases, quite a bit less)

As said elsewhere, a forecast of an increasing number of people risking going without cover is worrying

 

[rorywquin]

Brokers are getting a rare breed. Hardly see any on the High Streets now.
I agree, any little bump and you gave them the accident report form and left them to deal with it.
The internet is good in many ways, instant cover , find your own cover etc but the personal touch has gone.

30 years ago, I only dealt with one guy for all my insurance. House, car, life, medical etc. I was not a wealthy guy but he took care of everything. Not simply selling me a policy.

 

[rorywquin]

Brokers were of value when relationships, real people and commonsense or discretion was part of the underwriting process.

The computer says no (or yes) now.

Perhaps for HNW clients with specific needs and odd requirements they have a place in private motor, but otherwise they can't do anymore than us (and some cases, quite a bit less)

As said elsewhere, a forecast of an increasing number of people risking going without cover is worrying

I recall about 50 years ago when my mother decided they did not need house insurance. Her words were “What are the odds of us losing everything?” She was lucky because they had no major loss ever (do any of us ever?).

However she was a very smart lady who ran a big business in the 60/70s, had a Triumph 2000 as a company car, and took on building societies (and won) for overcharging her 1p a month on her mortgage etc etc.

Insurance is all about fear.

 

[mioba]

Admiral car insurance loses thousands of customers

The car insurer has lost many customers on the back of steep price rises and a jump in vehicle repair costs.

www.bbc.co.uk

Admiral loses 380,000 customers, but profits are up!

No susprise there.
My multicar with them was up a few months back, the price had almost doubled.

I few looks at the comparison sites, then a call to admiral, they couldn't get close - so i told them they lost a customer.

Lose customers - inc the premiums.

 

[rorywquin]

No susprise there.
My multicar with them was up a few months back, the price had almost doubled.

I few looks at the comparison sites, then a call to admiral, they couldn't get close - so i told them they lost a customer.

Lose customers - inc the premiums.

Problem is, they didn’t/don't care.

 

[mioba]

No company cares about customers now - its the shareholder that matter.

 

[Timeandleisure]

I recall about 50 years ago when my mother decided they did not need house insurance. Her words were “What are the odds of us losing everything?” She was lucky because they had no major loss ever (do any of us ever?).

However she was a very smart lady who ran a big business in the 60/70s, had a Triumph 2000 as a company car, and took on building societies (and won) for overcharging her 1p a month on her mortgage etc etc.

Insurance is all about fear.

I tend to take it out when having repairs on the house… my father never took any insurance out and so I spent many years oblivious to the understanding that it is a thing…

 

[EmilysDad]

I recall about 50 years ago when my mother decided they did not need house insurance. Her words were “What are the odds of us losing everything?” She was lucky because they had no major loss ever (do any of us ever?).

My Mum said that about the flood part of their house insurance. They said my Mum & Dad lived on a flood plain .... my Mum said that in the 50 years they'd lived there, their house had never been flooded so declined the flood part of their house ins. That was Sept 2015 ..... a few months later on the Boxing Day, they were knee deep in their living room.

 

[ajlsl600]

Admiral car insurance loses thousands of customers

The car insurer has lost many customers on the back of steep price rises and a jump in vehicle repair costs.

www.bbc.co.uk

Admiral loses 380,000 customers, but profits are up!

Look at aviva!!

 

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[Chrishazle]

Interesting article by Martin Lewis a few days back about best time to renew - he said it's about 21 days before expiry. did a troll round the comparison sites a week or a little more back for a renewal for the C220 (renewal from current insurer LV was £90 more than last year) and got a quote £40 cheaper like for like, looked again yesterday and same outfit's quote was £50 more expensive than 7-10 days ago and now £15 more than current insurer!! Renewal date 31 October. Bad time of year for me, SLK insurance due 11 Nov, Churchill's reneqal offer came through today and is little more than last year.

 

[grahamcol]

My favourite topic ! Not !!!!
My R170 SLK classic insurance is due in about 3 weeks. I had to chase the current broker since l like to plan ahead and the agreed value is due for review this year as well. It came in at £380 which isn’t far short of double what l paid last year. I immediately contacted the broker who told me the current underwriting company had a full quota currently and would not be looking to renew, hence the increase due to a different underwriter. I don’t know if this is just bs. Anyhow the lady must have sensed my displeasure and offered a discount of £100, making it £280 this year. I still intend shopping around. The car has only covered 200 miles in the last 12 months and l still feel someone’s taking the proverbial. I hate dealing with insurers !

 

[Timeandleisure]

Mine was £1000 over last year’s amount I’m thinking about challenging this amount… not holding my breath though…

 

[sonic]

Mine was £1000 over last year’s amount I’m thinking about challenging this amount… not holding my breath though…

The joys of living in London.
In rural Staffordshire £110 for the wife SLC, & £120 for my E350.

 

[Blobcat]

 

[Dean Fletcher]

Just called my insurance for get a quote for the new car. currently paying £396 per year. new car £576 per year. confused.com gave me a quote for £470 per year which I thought was not bad, the question is im 4 months away from renewal and would lose a years NCD. what's the likely hood that even with the extra 1 years NCB it will come under that. I had a rant to them about loyalty etc being with them for 4 years but didn't change a thing.