Insurance

[worzel]

Hi

Any opinions on using Carol Nash brokerage for an agreed value policy?. I suppose the only real way to rate them (or any broker/insurance company) is to see what they do in the event of having to make a claim.

The only reason I'm asking is that I've encountered an unfortunate chain of events. I won't name either the broker or particular insurance company in my story but this is what happened. I've insured the elan with the same insurer, via broker since 1984. Never made a claim on the policy. In October 2010 I switched to a 3 car multi vehicle policy, again with the same insurance company. In March this year I sold one of the cars which meant that renewing on a multi policy was no longer an option because the insurer didn't offer it for two vehicles. So I asked the broker a few weeks ago to insure the elan as a single vehicle, with the same insurer, thinking nothing of it.

I was told by the broker that I would now be regarded as a new client by this insurer (even though they were still insuring me), that the premium would be worked out according to "new" tables because the elan wasn't garaged. When I pointed out to the broker that I had a letter informing me that the insurer was aware that it hadn't been garaged since 1984 (I had written to them in 1984 on this point just to keep them informed) I was informed again that my risk was still being "readjusted". The result, I expected a renewal premium of around ?220. Instead I was quoted ?486. What I suspect happened was that either the broker hadn't actually told the insurer about the garaging change or they had informed them but the insurer had lost the details years ago or- the insurer was having a laugh at my expense. I've actually written to both the insurer to ask for an explanation as to how I could be regarded as new business when they were already insuring me. I'll keep you posted.

John

[elanman999]

John,
I think that if you stay with one insurance company for too long they get complacent and think they can keep on putting the premium up. A few years ago I had a similar thing when I asked to put the value of my Elan by 10% they wanted to put the premium up by the same amount. I've changed company twice since then and each time my premium has gone down. It's still lower now than it was 3 years ago and I've put the value up by some 30%. So although it can be a pain I would say that it's good to change your insurance company once in a while.
I do agree that you only know how good they are when you make a claim.
Cheers
John

[Baggy2]

I used Routen Chaplin as mentioned in the forum for Vendors. I got a quote based on the car being garaged which it generally is. However there are nights when other projects are happening in the garage so I asked their sales person if it would be uninsured if left out on such occassions - she said it would so changed the proposal details to 'kept on private drive' and it made no difference to the premium. Hope thats of interest
Baggy

[miked]

John,

I am with Nash again. No complaints. Was with them with my yellow S4. Just done all the photos with a supporting letter and got the agreed value in writing.

They have their own evaluation so they don't go out to some of the usual places for a view. Have been with them for about 15 years as I had a Bonny T140 with them. Have not claimed so dont really know but have heard no bad press. Also prompt with Doc's etc. Mike

[worzel]

Hi

Many thanks for the (rapid) input. Loyalty seems to be dying on its feet! I'd have thought that an insurer would wish to hang on to a client with a good track record. Seems not.

Regards

John

[bast0n]

Good evening.

I change insurers nearly every year as they do tend to get complacent - same with my other motors, house, phone, electricity, oil, etc. You tend to get a good deal as they are very keen on new business. I was with Footman James for years and never really noticed the "premium creep" until I did a comparison or two.

They seem to show no loyalty to us so why should we reward them with premium complacency?

Happy Days,

D

[elansprint71]

If you want a really good laugh, ring Peter Best Insurance. How they ever get a single customer is beyond me.

[atthelimit]

Worzel

I work for Routen Chaplin and I am an Elan owner as well and a Europa (old one)

Give me a ring if you want some advice with no obligation.
Our policies are competitively priced and most importantly the cover is as good as it comes. We can offer salvage buy back, reinstatement cover, choice of repairers etc because as has been said the only value of insurance is when you need to claim.

Ask for Kim but if I am not in ask for the Kirsty Fitzpatrick and she can take all the details.

Best wishes

kim

[bcmc33]

FWIW, I've been with Carole Nash for the last 6 years, and although they hiked the cost by 20% this year, it looked like other insureres did the same when I did the annual circuit.
Having said that - I've never made a claim, and you can only judge the positive side of an insurer on claim experience.

[billwill]

I've switched from Peter Best to Routen Chaplin now. Kim fixed me up with an off road policy which can be converted to on-road at pro-rata rate when I get my car back together and the on-road price will be better than Peter Best's best.

PB didn't offer a convertible policy like that and they wanted a non-refundable sum for off-road insurance.