Swampy442 Posted January 10, 2013 Share Posted January 10, 2013 Someone would be unhappy if he "The Husband" driving the Porsche 911 Turbo & she "The Wife" driving the Honda NSX crashed into each other writing off both cars (with no personal injuries) Or he 'The Husband' had an affair and she, 'The Wife' set about the collection with a 3 iron Quote Link to comment Share on other sites More sharing options...
listy Posted January 10, 2013 Share Posted January 10, 2013 What interests though, obviously it's not so that current broker can inflate the price knowing I can't get a competitive quote from a competitor? I don't know I would guess at it being so the underwriter covers their own back, so no favour is shown to a single company. Quote Link to comment Share on other sites More sharing options...
DodgyRog Posted January 11, 2013 Share Posted January 11, 2013 (edited) I don't know I would guess at it being so the underwriter covers their own back, so no favour is shown to a single company. It's not about favours, it's about profit and overheads. As in the bigger brokers have higher overheads, so need bigger profits, so can't offer the lower premium, but because they have more sales they go to the Underwriter moaning at being undercut, the Underwriter goes on the side of the bigger broker as they sell more of there product. Basically meaning fixing the price to the consumer (higher premiums to us) by refusing to offer there service through another smaller cheaper Broker when it comes to renewal. There are actually not that many Underwriters that will competively cover our cars and they use that to there advantage Edited January 11, 2013 by DodgyRog (see edit history) Quote Link to comment Share on other sites More sharing options...
JasonR24 Posted January 11, 2013 Share Posted January 11, 2013 I find it a bit odd to post this thread using a very exceptional quote, can you put up a quote that is more inline with the more normal human beings among us lol, maybe using a run of the mill £20k Audi as the main car and a couple of weekend toys and a wifes decent shopping trolley sort of thing It would be interesting to see a quote based more on the real world:d I understand that specifics are hard in insurance quotes, it's just the quote you have used seems really extreme or is it just me that is thinking that I would say thats extreme too! lol a celica and a weekend supra, together worth 7-8k tops is what im looking at Quote Link to comment Share on other sites More sharing options...
listy Posted January 11, 2013 Share Posted January 11, 2013 It's not about favours, it's about profit and overheads. As in the bigger brokers have higher overheads, so need bigger profits, so can't offer the lower premium, but because they have more sales they go to the Underwriter moaning at being undercut, the Underwriter goes on the side of the bigger broker as they sell more of there product. Basically meaning fixing the price to the consumer (higher premiums to us) by refusing to offer there service through another smaller cheaper Broker when it comes to renewal. There are actually not that many Underwriters that will competively cover our cars and they use that to there advantage This is why I don't tell companies who the lower quotes come from Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Ok then if you insist I was insured with Sky a few years a go and the renewal quote was, lets just say a bit of a jump compered from the previous year. Not a problem I thought I'll get some quotes from some other companies. Except I couldn't, because most of your competitors aren't allowed to quote against Sky. Why is this and how is this helping me to get best value for money? Happy to answer this Scott, and I will but I do not see what relevance any of that has to a discussion about our family fleet policy and I'm still confused by this. Amazing. I think you've just proved without doubt the insurance is a total scam. BTW I'm not having a dig at you personally, your a nice guy........when you're drunk It's just the case my experience was with Sky. Thanks, I don't take things like this personally but it is part of my job to answer and reply.. Ollie Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Ollie, I'm also interested if you do a simple "multicar" policy. Hi, other than the current family fleet policy, no but we insure many customers with more than one vehicle. A lot of our customers insure their performance/modified car with us as well as their daily drivers but we we usually put these on separate policies. Thanks Quote Link to comment Share on other sites More sharing options...
JasonR24 Posted January 11, 2013 Share Posted January 11, 2013 So do Sky do a multi car policy for 2 cars? a weekend car and a daily? at lower value? thanks Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 So do Sky do a multi car policy for 2 cars? a weekend car and a daily? at lower value? thanks Please see the post above yours. Quote Link to comment Share on other sites More sharing options...
ScottC Posted January 11, 2013 Share Posted January 11, 2013 (edited) Sorry Ollie that was a typo error on my part it should of read 'that insurence' I didn't mean to suggest your scheme was a scam. When a company suddenly decides they can sell policy's for 2k for a fleet of cars worth over 200k, compered to what most people pay for 1 toy, it does make you wonder where these prices are pulled out from. Edited January 11, 2013 by ScottC (see edit history) Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 The problem with the Underwriters is believed to of arised after a larger Insurance broker complained at being undercut by there smaller competitors To clear this up.. and having read in between the lines, I'm not sure what you have been told and by whom but we'd put the onus back on the insurance underwriter withdrawing rates from said smaller competitor because they are undercutting their own given rates. Eg a long term customer insured with underwriter 'M' paying £750 a year for a different broker to offer a rate of £350, again with underwriter 'M'. 'M' is quickly going to notice and tell them to stop. Also, and as I've said before, often insurers will come along and undercut the rest of the market but pull out shortly afterwards when they realise they are too cheap, by too cheap I refer to not collecting enough premium to cover claims. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Sorry Ollie that was a typo error on my part it should of read 'that insurence' I didn't mean to suggest your scheme was a scam. When a company suddenly decides they can sell policy's for 2k for a fleet of cars worth over 200k, compered to what most people pay for 1 toy, it does make you wonder where these prices are pulled out from. Ok, hopefully I've explained how and why insurance prices will differ earlier in the thread in a way that will clear this up. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 I find it a bit odd to post this thread using a very exceptional quote, can you put up a quote that is more inline with the more normal human beings among us lol, maybe using a run of the mill £20k Audi as the main car and a couple of weekend toys and a wifes decent shopping trolley sort of thing It would be interesting to see a quote based more on the real world:d I understand that specifics are hard in insurance quotes, it's just the quote you have used seems really extreme or is it just me that is thinking that Sure, I'll get another customer's permission and will report back. Quote Link to comment Share on other sites More sharing options...
Abz Posted January 11, 2013 Share Posted January 11, 2013 It's inflammatory, confusing and unfollowed up on comments like this one below which aren't particularly helpful but we're well used to them: Amazing. I think you've just proved without doubt, that insurance is a total scam. I don't think Scott's post which you quoted was inflammatory, confusing or unhelpful. I'd say if anything it was more factual. Sorry Ollie that was a typo error on my part it should of read 'that insurence' I didn't mean to suggest your scheme was a scam. When a company suddenly decides they can sell policy's for 2k for a fleet of cars worth over 200k, compered to what most people pay for 1 toy, it does make you wonder where these prices are pulled out from. What he has again pointed out and which may have confused others is how does one insurance company offer to insure a fleet of cars worth £242,000 for £2,500? I'd imagine insuring just the couple on the 997 & Golf would come close to £2,500. The biggest risk from where I am sitting is (no way I am an insurance advisor but my job does involve evaluating risks). 1. Blimey if they have a house fire or if someone decides to steal the cars, all eggs in one basket. 2. I bloody hope they don't take the 993 & NSX out together! Going by the example you have provided then you should be able to quote a couple in their mid 30's on a Supra valued at £20k for £500 agreed value. This is possibly what has a few members wondering about insurance in general not yourself, and please don't take anything of this as a dig at Sky or yourself Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 11, 2013 Share Posted January 11, 2013 I gave up trying to understand car insurance a while ago as too much makes little or no sense. If the biggest risk is on the rd i don't get why i can up my limited mileage from 3k to 5k and i only get charged about £25 extra ! Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 I don't think Scott's post which you quoted was inflammatory, confusing or unhelpful. I'd say if anything it was more factual. It was a statement made with no reasoning.. now I know the reasoning, it has been answered. I cannot decipher everything written on forum. If the statement has been written and backed up with reason, I wouldn't see it as an issue. What he has again pointed out and which may have confused others is how does one insurance company offer to insure a fleet of cars worth £242,000 for £2,500? I'd imagine insuring just the couple on the 997 & Golf would come close to £2,500. The biggest risk from where I am sitting is (no way I am an insurance advisor but my job does involve evaluating risks). 1. Blimey if they have a house fire or if someone decides to steal the cars, all eggs in one basket. 2. I bloody hope they don't take the 993 & NSX out together! In answer... The main risk posed to insurer here is the road road risk aspect. With this family fleet policy preferring more cars than drivers, the insurer realises that the road risk applies to one vehicle at a time rather than all vehicles at once. The more vehicles, the more competitive this type of policy becomes. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Sure, I'll get another customer's permission and will report back. Family Fleet Policy - example 2 Couple, aged early 40's, HP (Herfordshire) postcode. All cars kept off road and alternated between garages and driveways: Mildly modified R34 GTR (agreed valuation @ £25k) Highly modified and engine swapped Mk2 Honda CRX (£8k agreed valuation) Standard late model Mk2 Mr2 (£4k agreed valuation) Standard Landrover Discovery (£10k value) Annual premium £1890 Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 I gave up trying to understand car insurance a while ago as too much makes little or no sense. If the biggest risk is on the rd i don't get why i can up my limited mileage from 3k to 5k and i only get charged about £25 extra ! I think you guys are reading too much into what other people pay and other's circumstances. Insurance is tailored to risk, risks differ, insurers differ, there is no set norm. Perhaps there should be a norm, but there isn't. Quote Link to comment Share on other sites More sharing options...
Caesard Posted January 11, 2013 Share Posted January 11, 2013 Ollie, my insurance comes up month end. Is there a line i can contact you on for a quote? Twin Turbo BPU Meanwhile, your inbox is full. So clear some space. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Ollie, my insurance comes up month end. Is there a line i can contact you on for a quote? Twin Turbo BPU Meanwhile, your inbox is full. So clear some space. Hi, I'll drop you a PM, inbox now clear, thanks for that. We're on 03303 331250 for reference Ollie Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 11, 2013 Share Posted January 11, 2013 I think you guys are reading too much into what other people pay and other's circumstances. Insurance is tailored to risk, risks differ, insurers differ, there is no set norm. Perhaps there should be a norm, but there isn't. Only going on what you said earlier about the on road risk, the 3k-5k price is what i was told i'd have to pay last year on my car. I think you insurance guys/girls would make great politicians Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Only going on what you said earlier about the on road risk, the 3k-5k price is what i was told i'd have to pay last year on my car. I think you insurance guys/girls would make great politicians It's nice to get answers thought isn't it? Even if said answers cause more confusion Quote Link to comment Share on other sites More sharing options...
ScottC Posted January 11, 2013 Share Posted January 11, 2013 To clear this up.. and having read in between the lines, I'm not sure what you have been told and by whom but we'd put the onus back on the insurance underwriter withdrawing rates from said smaller competitor because they are undercutting their own given rates. Eg a long term customer insured with underwriter 'M' paying £750 a year for a different broker to offer a rate of £350, again with underwriter 'M'. 'M' is quickly going to notice and tell them to stop. Also, and as I've said before, often insurers will come along and undercut the rest of the market but pull out shortly afterwards when they realise they are too cheap, by too cheap I refer to not collecting enough premium to cover claims. I was told by your competitors that they were not aloud to quote renewls against existing customers of Sky Insurance. Can you explain why? Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 I was told by your competitors that they were not aloud to quote renewls against existing customers of Sky Insurance. Can you explain why? Yes, this is how the industry works, same goes for us and other brokers. If a customer is insured with one underwriter, we cannot undercut using the same underwriter.. having said that, it happens, often, some cases go through, some do not. Quote Link to comment Share on other sites More sharing options...
ScottC Posted January 11, 2013 Share Posted January 11, 2013 ... Quote Link to comment Share on other sites More sharing options...
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