Post by keef666 on Jul 19, 2020 8:39:03 GMT
When i got a new quote for my bike insurance this year, it went from £282 to £384 and the excess went from £350 to £850 and i saw red, i phoned the company, i won't give their name but very well known, i told the guy can't you do any better and a few mins later comes back with a quote, £272 and £350 excess, i said ok and paid it, but what really got my goat up was searching online and going to one of those sites that finds you the cheapest quote, and seeing the cheaper quotes on there but you own insurance company can't pass that on to you. So i wrote to my local MP and she in turn wrote to the HM Treasury, I said to my MP why can't insurance companies be more clear and honest when dealing with a loyal customer, i got a reply from the Treasury yesterday, but i think somewhere along the lines some information i was trying to get across never came out or was misunderstood, they say the Government does not intend to intervene in these commercial decisions as it could damage the competition in the market, but the FCA [ The Financial Conduct Authority ] who sets the rules insurance companies have to follow, published a report in Oct 2019 to say that motor insurance market is not working well for loyal customers, and they intend undertake a range of activities in order to address the problems it has identified.
First off it was nice to see my MP working for us, and to get a reply from the Treasury was a bonus, but i was trying to get across in the letter i wrote, the whole insurance is a scam, by law we have to have it to insure a motor vehicle, so in that respect the Government should be looking to see how insurance works. When i get Fully Com i want it to include cover for my leathers, helmet, clothing etc, if i end up in hospital for weeks i want to know i'm covered, not you didn't' take out personal Accident with you cover, I'm paying for fully com so i want it all covered , why does it have to be extra?
When you make a claim why do we always get ripped off, i had a bike stolen three years ago, had nine years no claims and got £350 for it, i spent thousands on that bike, and my neighbors just a few doors down from me, had a little bump on their beat up banger, ends up getting a new car!
First off it was nice to see my MP working for us, and to get a reply from the Treasury was a bonus, but i was trying to get across in the letter i wrote, the whole insurance is a scam, by law we have to have it to insure a motor vehicle, so in that respect the Government should be looking to see how insurance works. When i get Fully Com i want it to include cover for my leathers, helmet, clothing etc, if i end up in hospital for weeks i want to know i'm covered, not you didn't' take out personal Accident with you cover, I'm paying for fully com so i want it all covered , why does it have to be extra?
When you make a claim why do we always get ripped off, i had a bike stolen three years ago, had nine years no claims and got £350 for it, i spent thousands on that bike, and my neighbors just a few doors down from me, had a little bump on their beat up banger, ends up getting a new car!
