[FONT="]Initiate a Parliamentary enquiry into the UK Insurance Industry[/FONT]
[FONT="]The UK Insurance Industry currently operates under policies and practices which are in direct contrast to the interests of its customers.[/FONT]
[FONT="]The practice of involving multiple entities in any single claim or transaction creates unnecessary and often huge costs which are passed on to the policy holders or their insurer. Cases are often settled to avoid these costs inspite of no fault situations.[/FONT]
[FONT="]This is perpetuating insurance fraud and a litigious culture[/FONT]
Perfect example as just been involved in an accident.. Having purchased a new van for my business with less than 3000 miles on the clock a young girl decided to zip round the bus going straight into the side of me.
Having legal cover my insurance put me straight onto a third party who deal with giving me another vehicle whilst mine is in for repair.
If my van was undriveable this service would have been invaluable but the crux comes when the lady tells me its only for seven days unless the other driver admits liability in this time which means the repairs then start on my vehicle and i keep the loan vehicle indefinately.
However if liability can not be proven in the seven days my vehicle which has slight damage and is perfectly fine to drive would have just sat in a car park whilst somebody made a pretty penny charging for a loan vehicle which really wasnt needed. I also then get returned to my original insurer where my excess would be taken.
I explained to them as my vehicle has only minor damage and is fine to drive why not wait for liability to be proven and then give me a loan vehicle whilst mine is repaired.
Just a plain rip off to everybody paying insurance where somebody running a fleet of vehicles is making a killing..
My car parked legally is hit by a passing motorist
bashed corner, nothing major
witness leaves number
police catch him eventually, no charges but cautioned and told with witness insurance will find him at fault
my insurance chase
his insurance deny liability
my insurance chase for police report
his insurance deny involvement
I am told I need to pay for the repair so there is "actual loss" (which is ******** by the way!)
So I lose my excess which is high deliberately as I have 10+ years no claims
£805! up from £215
that is without an actual claim as no repair has been done
So I ask..
"If I renew and the work is done I will get my excess back and the premium will come back down to the previous level?"
"and the NCB?"
"Ok what will the premium be, exactly."
So after humming and harring I decided to go with my gut as I don't trust them
"Cancel the claim, I will sort that out even if I pay for the repair (£200), whats my renewal now"
"**** you, cancel the policy as well while your at it. Get your supervisor to listen to all these calls as when the ombudsman wants details on the renewal hike you will need them!"