Anyone heard of KGM insurance/under writers?

embelliss

I've never come across them until now...
Renewal quote from my insurance, Carole Nash, with underwriters AXA was £598... with £400 Excess, fully comp.
Cheapest quote through tesco compare was with 'Simply Insurance' Brokers, with KGM Under-writers at £244 with £200 excess, fully comp.

A Massive difference... is this too good to be true?

I read their policy doc, and it seems to be ok from what I see. similar to most other policy docs.

dacouch

You would get what you pay for with a KGM policy, are there no other companies quoting a similar price?

I don't think they provide a courtesy vehicle, does it indicate whether they do in the quote you got.

embelliss

dacouch wrote: »

You would get what you pay for with a KGM policy, are there no other companies quoting a similar price?

I don't think they provide a courtesy vehicle, does it indicate whether they do in the quote you got.

They don't provide a courtesy vehicle, but I don't need cover for that.
They do include legal cover for £24 extra.

No other quote was similar at all. I phoned them and asked them some questions, and asked them why it was so cheap, and they said it was to be competitive.

The broker, Simply Insurance, was also rated the number 1 broker in 'Ride' magazine for 2007.

dacouch

I'll put it this way, I'm a broker and I would not Insure myself with KGM, I would pay the extra for a different Insurer. We use KGM as an broker and they have markets I would place business for.

Insurance is like anything else you normally get what you pay for (There are exceptions).

KGM have been going since 1957 and there is no problem with their financial security.

Do a search on google for "KGM + Insurance + Review", there are a few on there. Take into account generally people tend to post reviews when they are annoyed not when they are pleased.

How much cheaper are KGM compared to the rest of the market?

embelliss

dacouch wrote: »

How much cheaper are KGM compared to the rest of the market?

The the second cheapest quote was By 'Direct Choice' £380 with AXA underwriters, with a £650 compulsory excess, and a £250 voluntary excess...

dacouch

Thats a big difference, even I might be tempted to bite the bullet and risk the KGM policy for that money.