Admiral/Elephant insurance warning

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iamana1ias wrote: »

I worked for admiral about 14 years ago and I'd never insure with anyone else!

Do you still get the staff discount?

iamana1ias

Quote wrote: »

Do you still get the staff discount?

Nope. Don't need it. They're always very competitive for me.

adamc260

Quote wrote: »

Do you still get the staff discount?

I get it... mostly coz im still there :P

NewCustomerOnly

I'm happy with mine even tho i know i might get problems with any claim. I am a very very low risk driver,driving an ancient but thoroughly reliable car. My reckoning is that the couple of hundred i'd have to pay for another 2nd hand car is way way covered by the hundreds they save me every year-if i have a knock 'c'est la vie.' All i really need from car ins is to be legal.
(Keenly watching this thrread tho!)

silvercar

raskazz wrote: »

It is exactly what you would expect if you understand the maths behind pricing family fleet risks!

Please explain because I don't understand. Why would adding the latest offspring to be able to drive car C effect the premiums for cars A and B when the kids aren't insured to drive them?

raskazz

silvercar wrote: »

Please explain because I don't understand. Why would adding the latest offspring to be able to drive car C effect the premiums for cars A and B when the kids aren't insured to drive them?

Because when you're looking at the risk of a family fleet it's really all about the amount of potential road risk involved. What insurers like are family fleets where there are more cars than drivers. For example, a husband and wife have 4 cars all on comprehensive cover. Cars A, B, C and D. If you work out the standard individual car rate and cars A and B are the highest rated then you in effect have two road risks A and B plus two fire and theft risks C and D. The total risk premium is smoothed out across all four though.

In the example in this thread adding a driver to vehicle C means that it is assumed to be more likely that car A and car B will be on the road (and thus present a higher risk) as drivers a and b are less likely to use car C the more drivers are added to that car. Of course this is not necessarily the case in reality but if you're looking at pricing a risk they are sensible assumptions to make.

silvercar

raskazz wrote: »

Because when you're looking at the risk of a family fleet it's really all about the amount of potential road risk involved. What insurers like are family fleets where there are more cars than drivers. For example, a husband and wife have 4 cars all on comprehensive cover. Cars A, B, C and D. If you work out the standard individual car rate and cars A and B are the highest rated then you in effect have two road risks A and B plus two fire and theft risks C and D. The total risk premium is smoothed out across all four though.

In the example in this thread adding a driver to vehicle C means that it is assumed to be more likely that car A and car B will be on the road (and thus present a higher risk) as drivers a and b are less likely to use car C the more drivers are added to that car. Of course this is not necessarily the case in reality but if you're looking at pricing a risk they are sensible assumptions to make.

Thanks. I thought the standard family fleet policies were to encourage mum and dad to insure their own cars with the company providing cover to the kids.

mikey72

I've never found any fleet policy, either private or business that has come close to individual policies.
The exception does appear to be where the parents have their own cars, and the kids car is added to the group like this though.

It also goes to show how little the risk models reflect the real world of the average family.

Sally_A

I've found Elephant more than helpful, for the past 2 years they've price matched daughters alternative quote with Admiral, no quibbles as all part of the same group. 20 year old, 1400cc Polo, 3 yrs ncb £376 (one windscreen claim). The staff in Cardiff seem to know their product.

From another angle, a friend of mine had a claim against an Elephant policyholder (who had not reported the incident), when her own insurers CIS put Drive Assist on the case they delivered a car she didn't ask for (hers was still driveable) at £80 a day for 14 days. I advised her to call Elephant and talk to a Team Leader/Manager or whatever they call them these days. She got £150 more than she paid for the car (about £800) as that was the next best price they could compare it with on Autotrader and similar, and also as a thank you for saving them £80 x 14 days = £1120, they also rang their customer, the at fault Third Party in this instance, got a statement, and my mate had a BACS payment in her account within 24 hours.

Yes, they are cheap and cheerful, but helpful on the phone (during UK office hours, you will get Cardiff or thereabouts).