Quinn Direct

fa123

My car insurance is with Quinn Direct, they are an Irish company. My insurance is up for renewal soon but I was not going to renew it with Quinn because they are UNDER ADMINISTRATION. I phoned to let them know and they asked why I wasn't renewing with them and I said I was concerned that they were under administration.They said that I had nothing to worry about since the company is in the process of being sold and as a UK policy holder I would not be affected and I could make a claim as normal. Therefore I said I would think about it.

They are offering me the cheapest quote, so if I can I would like to stay with them. So I've been on their website and I feel quite confident to do so.

Can you please advise me?

adamc260

They're still trading so there are no issues. Should the worst happen your covered by the FSCS (Financal Services Compensation Scheme) so should they go down the pan and they cannot pay out on claims... the FSCS will help out

Page 21 of your policy booklet says

"Financial Services Compensation Scheme
We are covered by the Financial Services Compensation
Scheme (FSCS) which means that you may be entitled to
compensation if we cannot meet our obligations to you.
Compulsory insurance is covered for 100% of the claim,
without any upper limit. Non-compulsory insurance is
protected in full for the first £2000 and then 90% of the
rest of the claim without any upper limit. You can get more
information at www.fscs.org.uk or by contacting the FSCS
direct on 020 7892 7300."

fa123

Thank you my insurance is not up for renewal until the end of the month. The issue of them being under admin has been playing on my mind!

adamc260

Thats ok ! If they can't meet the claim, the FSCS will so everythings cool.

vaio

Unless you manage to write a £20k car off in which case you’ll get the 100% of the first £2k and then 90% of the remaining £18k.

i.e. you’ll be out of pocket by almost £2k not to mention the hassle of dealing with the FSCS

All pretty unlikely I know but if the difference between Quinn and the next quote is only a couple of quid I’d be tempted to think again. If the difference is a lot or your car is a £2k focus then fill your boots with Quinn

adamc260

"Compulsory insurance is covered for 100% of the claim, without any upper limit"

There are only 2 types of Compulsory Insurance... Car and Employers Liability so therefore they come under the 100% portion

All other non compulsory types are in full for the first £2000 then 90% thereafter?

vaio

Yep but damage to your own car is not compulsory, only the third party bit is. Throw your £20k car into a ditch and you could end up out of pocket as above

adamc260

Ah right fair enough

fa123

Thank you but this is starting to get a little bit confusing for me! lol

adamc260

fa123 wrote: »

Thank you but this is starting to get a little bit confusing for me! lol

Basically... if you have a fault accident and your car is worth MORE than £2000 and say for example... Quinn went down the pan and you had to claim from the FSCS (Very unlikely) you'll only be paid 90% of your claim.

Sorry for the confusion

fa123

Adam thank you!!! :A

Nice to know there are still some great people out there