Drowning my Grenadier (a sorry, soggy saga)

[Jeremy996]

Looking at NFU Mutual's AGM briefing document, I don't think I will be troubling their bottom line by much; underwriting profit £168M, compared to last year's loss of £(156M). Their Combined Operating Ratio, (COR) of 92.4% suggests they overshot their internal target by 5.6%, so really good GI business.

Although they said they would pay out in about 2 working days, I'm still waiting and I have had to borrow short term for Sunday, so some of the shine is coming off.

As for an insurance quote for the replacement, NFU's was nearly £1,500 more than 5 of the alternatives, I've ended up with Hastings Direct on a telematics policy for under £800.

 

[Cheshire cat]

Looking at NFU Mutual's AGM briefing document, I don't think I will be troubling their bottom line by much; underwriting profit £168M, compared to last year's loss of £(156M). Their Combined Operating Ratio, (COR) of 92.4% suggests they overshot their internal target by 5.6%, so really good GI business.

Although they said they would pay out in about 2 working days, I'm still waiting and I have had to borrow short term for Sunday, so some of the shine is coming off.

As for an insurance quote for the replacement, NFU's was nearly £1,500 more than 5 of the alternatives, I've ended up with Hastings Direct on a telematics policy for under £800.

That seems like a hell of a hit for one, ‘Expensive’ claim. I guess the same would happen to me though. With 9 years plus no claims at LV I think I loose four years on the first claim. No doubt, that would increase my £650.00 by a further 40%

 

[ECrider]

Looking at NFU Mutual's AGM briefing document, I don't think I will be troubling their bottom line by much; underwriting profit £168M, compared to last year's loss of £(156M). Their Combined Operating Ratio, (COR) of 92.4% suggests they overshot their internal target by 5.6%, so really good GI business.

Although they said they would pay out in about 2 working days, I'm still waiting and I have had to borrow short term for Sunday, so some of the shine is coming off.

As for an insurance quote for the replacement, NFU's was nearly £1,500 more than 5 of the alternatives, I've ended up with Hastings Direct on a telematics policy for under £800.

That's a helluva swing from red to black!

 

[CRH]

That seems like a hell of a hit for one, ‘Expensive’ claim. I guess the same would happen to me though. With 9 years plus no claims at LV I think I loose four years on the first claim. No doubt, that would increase my £650.00 by a further 40%

Do you have the no claims protection

 

[landmannnn]

Looking at NFU Mutual's AGM briefing document, I don't think I will be troubling their bottom line by much; underwriting profit £168M, compared to last year's loss of £(156M). Their Combined Operating Ratio, (COR) of 92.4% suggests they overshot their internal target by 5.6%, so really good GI business.

Although they said they would pay out in about 2 working days, I'm still waiting and I have had to borrow short term for Sunday, so some of the shine is coming off.

As for an insurance quote for the replacement, NFU's was nearly £1,500 more than 5 of the alternatives, I've ended up with Hastings Direct on a telematics policy for under £800.

I need to renew too, don't Hastings Direct have a poor record on paying out for claims?

 

[Skydance]

Admiral are very competitive on multi car policies this year. NFU added hundreds on my renewal even with a tracker.

 

[ECrider]

Admiral are very competitive on multi car policies this year. NFU added hundreds on my renewal even with a tracker.

Had been with Admiral for 13 years. Moved the Gren and the A6 to LV this Apr and saved £800. Shame as I thought they might actually be good in a payout scenario. Will try again next year.

 

[Jeremy996]

Do you have the no claims protection

No, lots of years with no incidents made me complacent. I'm still not sure i would pay the money and I did not buy it with Hastings although they offered.

I need to renew too, don't Hastings Direct have a poor record on paying out for claims?

Hastings, like most of the companies at the lower end of the market, (cheaper!), take a "robust" view of claims. My view is always read the fine print and understand what it means - if they try to treat me not in accordance with the contract, then we'll be off to the Ombudsman or the Court at my choice depending on the anticipated outcome. I've been in financial services since 1989 and since last August I've been a Compliance Officer for one of NFU Mutual's competitors.

Unfortunately, my employers don't insure private cars, only fleets of 5 or more - when I asked in the brief period we had six cars at home, they baulked at the Morgan and the Mazda, as I wanted agreed value, business use and unlimited mileage, not a common combination. The final bespoke premium was more than 6 individual policies even with discounts!

 

[ECrider]

No, lots of years with no incidents made me complacent. I'm still not sure i would pay the money and I did not buy it with Hastings although they offered.


Hastings, like most of the companies at the lower end of the market, (cheaper!), take a "robust" view of claims. My view is always read the fine print and understand what it means - if they try to treat me not in accordance with the contract, then we'll be off to the Ombudsman or the Court at my choice depending on the anticipated outcome. I've been in financial services since 1989 and since last August I've been a Compliance Officer for one of NFU Mutual's competitors.

Unfortunately, my employers don't insure private cars, only fleets of 5 or more - when I asked in the brief period we had six cars at home, they baulked at the Morgan and the Mazda, as I wanted agreed value, business use and unlimited mileage, not a common combination. The final bespoke premium was more than 6 individual policies even with discounts!

I've always wondered what the NCB protection offers in reality. Think mine added £37 to my policy this year, but if I actually had a claim where does it leave me? I have a protected no claims but surely when asked if I made a claim in the last 12 mos how does it balance out? Is it worth it or in mu cynical mind is it money for old rope?

 

[Jeremy996]

I've always wondered what the NCB protection offers in reality. Think mine added £37 to my policy this year, but if I actually had a claim where does it leave me? I have a protected no claims but surely when asked if I made a claim in the last 12 mos how does it balance out? Is it worth it or in mu cynical mind is it money for old rope?

You are going to have to read the fine print I'm afraid; for companies I'm familiar with, with one claim in a year your NCB remains intact, but they will update your risk profile, so a renewal will go up, but less than usual following a claim. For two claims, you get only half the usual reduction in NCB, but still the review of your risk profile.

My view is if you don't get claims, then it is just bunce for the insurance company; if you are unlucky, then it might save you a few quid, but I'd suggest it was better spent on defensive driver training!

 

[Eric]

You are going to have to read the fine print I'm afraid; for companies I'm familiar with, with one claim in a year your NCB remains intact, but they will update your risk profile, so a renewal will go up, but less than usual following a claim. For two claims, you get only half the usual reduction in NCB, but still the review of your risk profile.

My view is if you don't get claims, then it is just bunce for the insurance company; if you are unlucky, then it might save you a few quid, but I'd suggest it was better spent on defensive driver training!

I also wonder if the fine print in the policy is different between M1 and N1 vehicles. aka vehicle replacement in 1 or 2 years as unfortunately we have found out from your recent disastrous experience

 

[CRH]

I've always wondered what the NCB protection offers in reality. Think mine added £37 to my policy this year, but if I actually had a claim where does it leave me? I have a protected no claims but surely when asked if I made a claim in the last 12 mos how does it balance out? Is it worth it or in mu cynical mind is it money for old rope?

I pay it but do wonder how much it helps? Rather than becoming complacent about accidents I'm getting more paranoid due to all the other morons on the roads.
We have a multi car policy and a separate classic policy. As far as I remember, the classic doesn't offer NCD

 

[Eric]

I pay it but do wonder how much it helps? Rather than becoming complacent about accidents I'm getting more paranoid due to all the other morons on the roads.
We have a multi car policy and a separate classic policy. As far as I remember, the classic doesn't offer NCD

Now I'm curious, what cars is the classic policy for?

 

[CRH]

Now I'm curious, what cars is the classic policy for?

1967 mk1 Fiat 850 Spider

 

[ECrider]

1967 mk1 Fiat 850 Spider

Can we have a picture when convenient please. Like seeing nice things.

 

[CRH]

Can we have a picture when convenient please. Like seeing nice things.

As requested
Wife has owned for about 14 years.
Sadly we now have to sell.
Her Cayman 2012, 2nd owner after porsche dealer, bought end of 2012. 48000 miles full porsche service plus additional oil and filter every 12 months between service. Manual gearbox. 2.9ltr
That's going this Saturday, will then start trying to sell the Spider.
I can't get in and out of them anymore and unable to work on the spider. Wife is quite unhappy at having to sell them.
Love the cars and sad to see them go
Spider has the massive 903cc engine in the rear and and Abarth exhaust that sounds amazing, always turns heads.

 

[Baron von Teuchter]

As requested
Wife has owned for about 14 years.
Sadly we now have to sell.
Her Cayman 2012, 2nd owner after porsche dealer, bought end of 2012. 48000 miles full porsche service plus additional oil and filter every 12 months between service. Manual gearbox. 2.9ltr
That's going this Saturday, will then start trying to sell the Spider.
I can't get in and out of them anymore and unable to work on the spider. Wife is quite unhappy at having to sell them.
Love the cars and sad to see them go
Spider has the massive 903cc engine in the rear and and Abarth exhaust that sounds amazing, always turns heads.

Love it!

 

[landmannnn]

Had been with Admiral for 13 years. Moved the Gren and the A6 to LV this Apr and saved £800. Shame as I thought they might actually be good in a payout scenario. Will try again next year.

I just insured mine with Admiral. Top level cover with most options ticked plus European breakdown was under £600.
They will probably double it next year!

 

[Eric]

1967 mk1 Fiat 850 Spider

Love it, the wife has a modern (2018) Fiat 124 Spider

 

[Baron von Teuchter]

I just insured mine with Admiral. Top level cover with most options ticked plus European breakdown was under £600.
They will probably double it next year!

Yeah mine is around that on a Multicar policy with them too. Had a 50/50 claim this year so wait with baited breath to see what happens to renewal. Clean licence, full protected NCB (not sure if that really makes any difference), 45 and rural Scottish postcode generally makes insurance fairly cheap for us. Even my son could insure a Suzuki Swift 1.6 Sport for a grand out here at 17 while his mate in town were £3k for a 1.0 Corsa!