They just fiddle around with the numbers in their favour
Insurance Companies
- Thread starter Pauly
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- insurance quotes
Had my renewal quote from Howdens/A-Plan, exactly the same price as last year. Very happy with that. 6 years NCB which I don't think I protected last year, which is protected this year.
I’m in the process of getting a quote from Howden , mentioned it was a base van and having alterations done during the year, pop top,electric, windows etc. The quote I’ve had is very reasonable and feel happy I can make mods without worrying if my insurance could be void . Never owned a VW or done a conversion. Wish me luck!
Suspect the cut the intermediary is taking (usually a flat fee) will be distorting the percentage figures somewhat, but I'd be asking to see a breakdown for each premium they've quoted and a copy of the insurer's NCD scale.
I always challenge such admin fees - I ask what I'm getting for my money, and if they talk some twaddle about paperwork etc I tell them not to worry I'll do it for them. Never yet failed to get one waived.
By law admin fees are supposed to cover the actual cost of admin and not be used as a profit opportunity in their own right. Companies know this and still charge a flat fee, but when they know that you know they invariably just fold rather than risk a complaint to the FCA which will cost them a lot more than £30 if upheld.
By law admin fees are supposed to cover the actual cost of admin and not be used as a profit opportunity in their own right. Companies know this and still charge a flat fee, but when they know that you know they invariably just fold rather than risk a complaint to the FCA which will cost them a lot more than £30 if upheld.
Good luck. The fees must be fair, reasonable, and reflect the actual cost to the company. Their use as a simple profit opportunity is forbidden, but they all do it because the income this generates outweighs the penalties. Sadly this has become more widespread since they've been forced to stop stiffing existing customers with big price hikes after one year.
If they won't fold and won't explain how two minutes work on a keyboard costs them £30 you can raise a complaint online with the FCA, it's quite straightforward. But then I'm a retired git with a lot of pent up anger and time on my hands.
If they won't fold and won't explain how two minutes work on a keyboard costs them £30 you can raise a complaint online with the FCA, it's quite straightforward. But then I'm a retired git with a lot of pent up anger and time on my hands.
As part of a semi professional music retail company, I'm glad you aren't one of my customers! Mind you, I do love a challenge! My main job these days is putting out figurative fires!
You'd be very glad if I were one of your customers. My last visit to PMT for a new set of Ernie Balls saw me leaving with a Ricko 4003S and trying to think of an excuse for the missus!
Interesting, I'm looking at my renewal from Brentacre at the moment. They are asking for a £65 Administration Fee. Damn thieves. I'm too worried to complain in case they turn round and say we cant insure you.
Ask them why it's so high. They can only charge what's reasonable and they should be prepared to justify their admin fees when challenged.Interesting, I'm looking at my renewal from Brentacre at the moment. They are asking for a £65 Administration Fee. Damn thieves. I'm too worried to complain in case they turn round and say we cant insure you.
I doubt very much they'd dare refuse you insurance for asking them to justify their admin fees. The insurers with whom they have agencies wouldn’t be overly happy and the FCA would deffo frown on such behaviour (and the last thing a broker wants is the FCA showing an interest in their fee structure!)
