£14.50 admin fee to change address with top insurer!!!

losgiganteskid

Well Scots - investment income from insurance premiums is a thing of the past -

jack_spratt_2

raskazz wrote: »

I see you are not capable or not willing to debate the matter as a adult, which is rather disappointing.

Not willing really !! It was wrote into the banking terms and conditions regarding the extreme charges that banks imposed on its customers !! did you also support these charges as well !!

Just my thoughts and last word on this matter

raskazz

jack_spratt wrote: »

Not willing really !! It was wrote into the banking terms and conditions regarding the extreme charges that banks imposed on its customers !! did you also support these charges as well !!

Just my thoughts and last word on this matter

No, and the two issues are so fundamentally different that it always makes me laugh when people try to equate them. Firstly the matter of bank penalty charges has not yet even been resolved in law; secondly the challenge to them is that they are a disproportionate penalty for breach of contract rather than a charge for a service provided.

dunstonh

A firm near me recently had FSA enforcement action for putting in servicing charges into the initial fee and not charging them explicitly only when used.

Charging everyone up front (in the premium) for use of call centre services you may or may not use is not as fair as only charging those that use that service.

Onslowette

We are moving home on Sat. Called Home Ins (more than) and there was no admin fee, but an annual premium increase of £6.60 we are going from a flat to a house so expected an increase so pleased it such a low increase.
Callled Car Ins (Admiral) and they are charging an admin fee of £24.49. Just shows how companies differ.....

Athena_

I know Admiral's admin fee is £14.50 so the other £9.99 would be for the difference in risk between the two locations taking it up to the £24.49. ( not trying to be pedantic, only saying it to put your mind at rest in case you thought you'd be charged £24.49 every time you rang them to make a change) hth

FlameCloud

raskazz wrote: »

That was before consumers became so fixated on the upfront premium. Blame consumers for this, not insurers. I'm not sure that you can accuse motor insurers of profiteering given that it is estimated that the private motor insurance market made an underwriting loss of £1bn in 2008:

http://www.insurancetimes.co.uk/story.asp?storycode=380121

You must be mistaken- I have it on good authority that insurers made billions and billions of profit last year!

TighterThanTwoCoatsOfPain

interesting on the admiral... i paid no admin fee when i moved house, nor did i pay to change my car last year, nor when i then put a private plate on, nor for changing my wifes surname when we got married!

A new set of docs issued on every occasion with no fee.

dacouch

FlameCloud wrote: »

You must be mistaken- I have it on good authority that insurers made billions and billions of profit last year!

There is a difference to an Underwriting Loss and an actual loss after investments

FlameCloud

dacouch wrote: »

There is a difference to an Underwriting Loss and an actual loss after investments

I have a feeling I was being to subtle