I Buy Eco - legalised robbery !

ab2009

I just want to let everyone know about my experience with this company - in short please dont go anywhere near them

I was insured with them when I was involved in an accident. I was stationary on the motorway when a lorry ploughed into the back of us. I was number 4 in the 7 cars that were affected.

During the ten months it took to sort out, my renewal came up - it had gone from £450 to £1,300 !! So I paid it, knowing that it was not my fault and thinking that when this was resolved my insurance would return to normal

Long story short, after ten months the other party accepted liability and I got my excess back. So I phone up to get my premium adjusted and was told "best we can do is £1,200"

"but it was not my fault, the other party have accepted liability and settled in full with you!" I said - their reply "while it wasnt your fault, hence your excess was returned, you are now more of a risk" !!! :mad:

I don't know how companies can get away with this - do you think its worth reporting these guys to the financial ombudsman ?

I have started the following sites to warn people of the dangers
dontbuyeco co uk


I have also setup a twitter account dontbuyeco and a Facebook group

Please make sure no-one that you know goes with this company!

custardy

its nothing new,a non fault accident can still cause your insurance to rise

FlameCloud

Have Eco actually put you in fear of being harmed?

_Andy_

So in short, you had an insurance policy. When you renewed, the price went up.
Oh boo hoo.

LinasPilibaitisisbatman

ab2009 wrote: »

I just want to let everyone know about my experience with this company - in short please dont go anywhere near them

I was insured with them when I was involved in an accident. I was stationary on the motorway when a lorry ploughed into the back of us. I was number 4 in the 7 cars that were affected.

During the ten months it took to sort out, my renewal came up - it had gone from £450 to £1,300 !! So I paid it, knowing that it was not my fault and thinking that when this was resolved my insurance would return to normal

Long story short, after ten months the other party accepted liability and I got my excess back. So I phone up to get my premium adjusted and was told "best we can do is £1,200"

"but it was not my fault, the other party have accepted liability and settled in full with you!" I said - their reply "while it wasnt your fault, hence your excess was returned, you are now more of a risk" !!! :mad:

I don't know how companies can get away with this - do you think its worth reporting these guys to the financial ombudsman ?

I have started the following sites to warn people of the dangers
dontbuyeco co uk


I have also setup a twitter account dontbuyeco and a Facebook group

Please make sure no-one that you know goes with this company!

You were in a crash and thus are actuarially more of a risk hence your premium increased.

!!!! happens.

Move on and get a life. being on twitter and facebook doesnt make you cool.

mattymoo

Shouldn't have risen from 450 to 1200 though, not for a single non fault accident.

Did you lose some NCD years because of this? Ought to have reinstated. That could explain the big premium change.

dacouch

I agree with Matty it should have reduced substantially once the claim is proved not to be your fault which is normally either you recovering your excess and / or teh Insurers recovering the money they spent.

I have seen cases where the person who did the admin when the claim was sorted where they changed the data to show the accident was now non fault but did not amend the no claims bonus back.

There is a chance this could have happened to the OP, I would recommend ringing the Insurers Customer Service Number and simply asking "How much no claims bonus do I currently have" This would confirm whether this mistake has been made and if it has then it would normally just be a case of ringing back and getting them to correct it.

rudekid48

Looking at the original post, it states that yours was vehicle 4 of 7. I take it that you have recovered your excess from the lorry which would have been 5 of 7. Have you checked to see who 3 of 7 has claimed against, as if you went into the back of them, they may have claimed from your Insurer, meaning that your NCB would not be re-instated even though you have recovered your excess. These multi-vehicle pile-ups can be a right nightmare to resolve.

dunstonh

I don't know how companies can get away with this - do you think its worth reporting these guys to the financial ombudsman ?

They get away with it because statistically you are now a higher risk and insurance is priced on risk. Quite legal, fair and normal.

However, the size of the increase suggests that either you got a big discount on the premium last year and not getting it now, the insurer are no longer interested in covering you and are offering uncompetitive terms or a mistake has been made and they have forgotten to reinstate your no claims discount or are leaving it as a fault claim.

I have started the following sites to warn people of the dangers
dontbuyeco co uk


I have also setup a twitter account dontbuyeco and a Facebook group

I'm sorry but that is just daft. Every insurer increases premium after a claim for the same reason. Blaming one particular company is pointless.

mattymoo

rudekid48 wrote: »

Looking at the original post, it states that yours was vehicle 4 of 7. I take it that you have recovered your excess from the lorry which would have been 5 of 7. Have you checked to see who 3 of 7 has claimed against, as if you went into the back of them, they may have claimed from your Insurer, meaning that your NCB would not be re-instated even though you have recovered your excess. These multi-vehicle pile-ups can be a right nightmare to resolve.

That is just plain wrong. If the lorry driver (7) set in motion the chain of events then all claims would have been directed to their employer / insurers.

Absolutely no point pursuing claims against other non-negligent vehicles in the collision chain because those claims would fail under English law.

rudekid48

Fair point, just trying to think of possible reasons for such a dramatic rise in price for a non-fault claim. I do not profess to be an expert on claims.