I Buy Eco - legalised robbery !

mattymoo

No probs. In fact, 12 15 years ago you would have been correct because of a little thing called the "Third Party Sharing Agreement". That's consigned to the history books now though.

The really complex claims are the ones where there were multiple impacts by multiple negiglent parties. Who damaged what bit? Which collision came first, did a subsequent impact make the damage worse? Real nightmare, both during the incident and trying to sort out the legal aftermath.

ab2009

Thanks for everyones feedback, some interesting points of view, especially the ones that think I should just accept that my policy should triple

Anyway, I agree the facebook and twitter stuff may be a little childish buy my main motivation here is to warn others. I have had to pay the extra and I can live with it but that doesnt make it right. If I can spread the word and prevent others from being ripped off then thats great

Just for the record, all 7 of us were claiming against the lorry driver (who was arrested at the scene).

The part that I dont understand is why I Buy Eco would hit me with the massive policy hike - surely if the lorry driver has accepted liabilty then I Buy Eco would have hammered him (or his insurance) I still dont understand why they would come after me - I mean thats not going to inspire customer loyalty.

Anyway, as I say, its over and done with for me, I just want to warn others and see if people think its worth involving the Ombudsman

Also, if you have had experiences with this company please feel free to leave feedback on dontbuyeco co uk / blog

Atermis

have ibuyeco actually recovered their outlay and settled the file yet? some commerical specific insurers do take months and months to pay?????

ab2009

Atermis wrote: »

have ibuyeco actually recovered their outlay and settled the file yet? some commerical specific insurers do take months and months to pay?????

When they told me that the third party had accepted liability and settled in full, they also told me that they had been told they would receive the payment within 35 days. Ive just checked my notes and I can see that I made a note during one phone call "Full re-imbersment recd by them on 29th May"

I have called them serveral times to ask why, even though this is a no fault claim, my policy is three times what it was last year and asked them to check on the system that they see it as no fault claim and is it "closed" - every time they trot out the "more of a risk" line

I am still awaiting the payment of persoanl claims (whiplash etc) however

AB

dacouch

As posted before I suspect a mistake has been made, judging by the large increase, why don't you follow the advice we gave and ring your Insurers and ask what No claims discount they are allowing you. This will find out if this particular mistake has been made and if it has not will rule it out

ab2009

dacouch wrote: »

As posted before I suspect a mistake has been made, judging by the large increase, why don't you follow the advice we gave and ring your Insurers and ask what No claims discount they are allowing you. This will find out if this particular mistake has been made and if it has not will rule it out

Hi, thanks dacouch

I have called them many times and asked them to re-check because there must surely have been a mistake. Time and again they talk abut being an increased risk. Eventually I decided to cancel my policy (for which they wanted to charge me another £300). After speaking to a supervisor I managed to get them to waive the cancellation fee

I have now re-insured with another company (£800 cheaper that I Buy Eco) and I Buy Eco have sent me my proof of my no cliams - 9 years no claims ! The only conclusion I can come to is that they are just trying to profit from both parties and they realise there is little the average man on the street can do.

I always thought insurance companies were there to protect their customers in case something happens to them, but I feel very far from protected. Its quite disgraceful, hence Im going to do everything I can to spead the word

Thanks for the feedback, I was begining to think I was crazy

dunstonh

It appears that they no longer wanted you as a customer and priced themselves to encourage you to leave. Insurance companies often wont refuse business they dont really want but will price themselves really high to act a sort of passive blocker. If you then sign up with them they get more money for it but they dont care if you do or don't go with them.

pedro123456

"I always thought insurance companies were there to protect their customers in case something happens to them, but I feel very far from protected. Its quite disgraceful, hence Im going to do everything I can to spead the word"

Join the club ab2009, Its a bit of an eye opener seeing what the IC do to their customers aint it?

Its worrying, how "what they say goes, like it or lump it"

Anyway spread the word, someone will listen eventually.

http://db.riskwaters.com/data/post/pdf/APPGmembers.pdf

http://www.financial-ombudsman.org.uk/

http://www.fsa.gov.uk/

lisyloo

I always thought insurance companies were there to protect their customers in case something happens to them

err no.............their primary reason for existence is to make money for their shareholders. Like most other businesses in fact.

cogito

dunstonh wrote: »

It appears that they no longer wanted you as a customer and priced themselves to encourage you to leave. Insurance companies often wont refuse business they dont really want but will price themselves really high to act a sort of passive blocker. If you then sign up with them they get more money for it but they dont care if you do or don't go with them.

Quite right. Insurers are really only interested in selling policies at a price that suits them. If you pay the price, fine, if not, they don't give a monkeys.