InsBro

When setting up Insurance schemes Insurers are adamant that price is not the b all and end all.

What do people really want?

1. Would you pay 10% more for guaranteed fair claims settlement? (It was stated by a big name insurer that a certain direct company paid an average of 20% less for total loss claims, than the broker market!)

2. Do you really worry about the excess? (If the accidents not your fault you get it back anyway).

3. Security its become almost the norm that scoobs need a satellite tracking device, is that OK?

4. What other benefits would you like included? (cost and no cost options)

Why do I want to know? - Rum & I are setting up a new performance car scheme to replace the Independent mess.

All comments would be appreciated.

Jeremy

Robertio

iTrader: (1)

1).Without having experienced payouts from other insurance companies it would prove impossible for us as customers to know what we would get from rival companies.
2).Personally I just go for the cheapest, my excess is up in 4 figures, so you could say that doesn't bother me.
3).I'm happy with having to have a tracking device and alarm immobiliser fitted.
4).Third party cover on other cars, ability to add other named drivers to policy for restricted periods of time. Not running a mile as soon as a modification is made to the car / not charging huge amounts for change of details during a policy.

Hope you manage to get something sorted out

ScoobySnack

Renewing mine now due to the "Independent" issue....

Would like:
1) Reliable and freindly service
2)Competitve price (£950?)
3)Modification service (Greenlight %of BHP increase is the % of premium increase)
4)As mentioned in previous reply - third party cover on other vehicles
5)Legal service if something goes wrong


Not worried too much about excess (£350) or security (I exspect to have an alarm and tracking device in this type of car). Also not worried about RAC/AA cover added in.

Cheers

J

Gordo

An insurer that doesn't go bust and leave me shafted two months into the policy would be nice!

Yes, am one of the lucky victims of Independent going pop. Am now getting concerned and will probably lose the premium (£1500, Manchester postcode, P1, and coming out of a company scheme with fun getting the no claims recognised). Whilst there is talk of the Policyholders Protection Board providing ABTA style help, they don't go so far as to refund premiums and there are concerns that body shops will not accept cars with them potentially taking months to pay out.

so, in answer to your questions, would happily pay extra for guaranteed loan car (fault or no fault), fair payout levels, protection of no claims and automatic legal cover for lawyers who accept that i'm the client (not the insurer!). Not too bother about excesses and happy to have a tracker fitted.

Hope this helps
Gordo

James_Harvey

Like for Like replacement on Modifications.
Track Day cover.
Full European cover.
A decent price.

James.

Rum*

Hi dee hi Jeremy

Come guys'n'gals...lets get a few more comments flying...

Between Jeremy and myself we hold a sizeable chunk of Subaru and High Performance Car policies (via both of our Brokerages)...

We know the car (we both run modified Scoobs) and the market...and hopefully between us we will be able to get something sorted...

But we could do with a little more feedback...

And re Independent...I am, like so many of my clients in the same boat! ...I stand to possibly lose circa £1,600 because of them

Comments please

Rum

GeeDee

iTrader: (2)

Is information available to the public regarding proportion of claims annually for each car type insured?

How do Scoobs compare with other cars? 1%, 5%, 10% claims on all Scoobs insured.

Graham (MY99 WRX a proper one)

robski

I would like to see AXA listed on all scoob policies

What people really want IMHO is a fair price for the risks associated with the car and driver combination.

Underwriting based on rolling road parameters sounds ideal, I.e prove the increase in performance based on a Rolling road graph.

Choice of like for like or maunfacturers parts when replacement is needed. (Its not always the cost of the bits, but the hastle of sourcing unique bits that the ins cos do not like).

Some will want sensible track day extension to policy.

Claims settlements guaranteed to Glasses guide price +/- 10% to allow for condition........
All ins cos have their own idea of how to price a car, generally places that undercut on premium pay less for claims, its simple maths.

The scheme to be a leading ins co that isnt going to dispear overnight, it will happen again until premiums are at the right level, Im sure of that.

A scheme that doesnt penalise the whole for the stuipidity of a few. I.e I would like to see sensible banding applied, with bad experience in one banding only having limited effect on oter bands.

robski

Andy Hamp

I think i want it all and i want it now

In no particual order:

1) Premiums don't have to be the very best within 10% would be reasonable but not loaded heavily for modifications.
2) Modification Friendly (Just because i have upgraded brakes for track days doesn't mean i drive ANY differently on the road so it's reasonable to charge more because of replacement costs NOT because it makes me dangerous/more likely to have an accident (look at my driving record for that)).
3) Security - CAT 1 a minimum but give discounts for CAT Q devices.
4) Discounts for Advanced Quailifications (ROSPA/IAM etc)
5)Track Day cover of some form (wack up the excess and or/extra charge, maybe restict the number of Track Days per year, maybe restrict to event organised by reputable companies who police standards (too many tossers around at the moment ))
6) Automatic Green Card
7) Class 1 Business use (I work from home so even driving to our office once a week is technically Business use )
8)Legal cover would be fine but i' fed up with pay for this multiple times (2 bikes, 2 cars = 4 different legal policies).
9) New for Old cover on cars < 18 months
10) Hire car for ALL accident repairs.

Andy

wacko

Can you set this up by Friday???
...victim of Independant.

bruce

iTrader: (5)

The thing that bothers me is that I can insure a £35K 22B for £959, but my £13k my97WRX costs me £900, wheres the logic in that?

InsBro

Markus

I here what you say, Our (mine & Rums) new scheme does both Imports and UK cars sometimes there is a huge difference between the two.

I am trying to get the differential reduced as most of the parts are the same for the scoobs, but some bright spark told the insurers that there were in excess of 500 electrical differences and 250 engine component differences between UK & Jap WRX & STi (This was an importer who published comparisons between the cars).

This has meant that many specialist UK scoob insurers won’t touch the imports.

We need to set them straight!

A common problem is the colour of the glass; some jap tints are not available from Autoglass etc.

Did you know the windscreen on a UK MR2 would not fit a Jap Turbo! (so say the glass companies)

· Bruce needs to get both cars with the same company hopefully for a more realistic premium.

Jeremy

Markus

I too am in the same boat as regards independant, and as I'm a modified jap import, things are doubly tough for me when it comes to insurance.

1) Personal service that Rum* and Co gives.

2) Friendly to jap imports

3) friendly to modifications

4) courtesy car regardless of who's at fault

5) Legal cover

6) trackday cover

7) drive any other car with third party cover

8) Secuirty must be at least Cat1, but give discount for Tracker devices, ideally passive, but think that in reality it's gotta be the proactvie systems

9) European cover (for those trips over to germany )

10) Flexibility to select 'approved garages' for repairs, eg; I want to be able to select my local independant garage who services and looks after my car, thus I trust them.

11) payment either in installments or one off payment

12) discount based on how many years driving a performance car

umm, think that's it.

Come on Rum* and Jeremy, sort it out, quick, and give me a decent quote


[This message has been edited by Markus (edited 05 July 2001).]

Markus

hear hear bruce. Totally mad.

I'd be curious to see the difference in premiums between the blackbeast (MY94 modded WRX Wagon) and a UK spec car of the same age with the same mods. As essentially they are the same car.

GraemeC

Someone on the end of the phone that understands the car, understands how an enthusiast tends to be more careful with that car (owners club discount?) and is prepared to change the quotes on an individual basis - ie mine has 2 CAT 1 alarms, CAT3 steering wheel lock and a tracker on the way but yet most co.s only give me a discount (or cover) based on one alarm.

Rum*

I think you'll find that both Jermeys and my Brokerages have staff (including ourselves!!!)) that know exactly what an HKS Super Drager is...or a boost gauge...or Scoobysport Back Box ...we offer "probably" the best service to our clients as we are enthusiasts as well as owners of modified Scoobs.

We are working on it guys'n'gals....but it takes time...

RRum

Markus

Rum* is quite correct. Both himself, his staff and Jeremy and his staff both seem to know way more about impreza's than I ever will. Hats off to the both of them.

Looking forward to the new scheme