Questions on insurance??

lisyloo

So I could legally get some insurance, get the tax and then cancel the insurance within the 14 day cooling off period and pay no insurance?

I am not interested in doing this.
It's just out of curiosity because of a previous thread.

crispy

in reply to insure - tax - insure shenanigans-

yes as long as the insurer were very quick in getting you the documents.

one thing to remember is the 14 days start when you receive confirmation of the policy not the start date of the policy and with an FSA change recently you have to have a reason why the policy is not adequate.

Not too hard to find a reason though.

jellybambam

::)

I work for a home and motor insurer and can answer questions, if posed nicely, on general bits of info if needed.

thank you Crispy, pse see my entry here - thank you in advance for any help

http://forum.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Insurance;action=display;num=1096323630;start=0

marble

lisyloo ... I used to work in inusrance and just want to add something about driving your husband's uninsured car under your policy.

It is a very grey area of the law. If you read your policy it says it must be a car not owned by you. In the event of an accident it has been known for insurance companies to argue that since it is owned by your husband, you also have a financial interest in the car and thus your policy doesn't cover it. It basically comes down to the fact that under law, you and your husband jointly own everything (I don't the exact specifics, but your husband would probably have to prove he paid for it himself out of his own seperate bank account - I'm not a lawyer though!)

The other thing is that as soon as you exit the car (when you go shopping etc), you immediately lose any insurance cover on the car (you're only insured while driving it). If it is illegal under the Road Traffic Act to keep on uninsured car on a public highway (this includes any car parks the public have access to, such as Tesco's car park).

Lots also depends on the policy you have. I've seen lots of people get into trouble trying exactly the same as you're suggesting (it's a very common practice). Then again, lots of pople have succesfully got out of some nasty situations using the driving other cars extension.

Al

lisyloo

Just to clarify, I asked the question out of curiosity (and to make sure I don't give people wrong advice).

However thanks for your advice.

k_sta

Crispy,

I am a foreigner who has been living in the UK for five years.
I have a good claims record in Oz (G'day) and have only made a claim due to hale (in 99).

What is the best insurance option for me and can I get my insurance history recognised for reducing premiums if I buy here?

k

crispy

K-sta

I take it it is motor insurance.

You will need proff of your insuranc eform you last insurer and any reasons for gaps since you were last insured. If it is more than two years since you had insurance very few insurers will take into account your claim free years but some might;
so check how long ago your last insurance was and check first with any insurer how far back they go for NCD or no claims discount.

If you cant use your NCD then you should get an introductory discount with most insurers but an important factor is if you are staying in th UK long term and if you have a full UK licence?

Let me know if you have any more questions.

Cheers.

angels_4

::)

I work for a home and motor insurer and can answer questions, if posed nicely, on general bits of info if needed.

Hopefully help those who like me until I got my job, knew nothing about insurance.

Cheers.

i have been a car accident.(that was not my fault )and now my car insuance will not ok repairs on my car ,as thay say my broker had not inform them of my change of address.i am fully comp (/the other car driver lives in the next street and has had his car repaired.)that was 3weeks ago.the insurence r now saying, that as well as not telling them i had move my broker did not inform them that i was now only in a 1 car house/b4 i was on a 2 car.on my renewal note it did have my new address but did say secound car cover ,i did ques this with them but thay said a the time it was ok !!(that was in may). so the insurence r now saying that becouse i had the wrong policy i now owe over £300 on top of what i have paid.my broker,+my broker is now ,not retuning my calls.i only drive a ford fiesta(s reg)help please   :'(

moneysaver

Hi Crispy,
Just a few general questions. If I was to take out home contents insurance & had a few decent items ie:

1: TV (£1000)
2: Computer(£1000)
3: HI FI Speakers (£750)
4: Leather Suite(£3000).

What whould happen in 6yrs time if I made a claim on any of these items as regards to replacing them on a new for old policy?
Would I get the very same make replaced of any of these items or would I get the money equivelant with depreciation. If it is the latter then I would need to put money to the payout to get back the same quality as before.
If this is the case with insurance company's when at the outset of the policy they always ask you about items like these but 6rs down the line the items are only worth a fraction of the cost price, then why does the policy not get reduced accordingly?

Is it worth changing company's every couple of years with the true value of these items at the time to get a cheaper policy?

The reason I am asking these questions is a friend of mine made a claim recently for a video recorder (accidental damage) which cost £400 6 yrs ago, his claim was settled with a payout of £120 minus £50 excess leaving £80 for a £400 video recorder. The insurance company claims he can get one the same spec as his previous video but not the same make as before ie: a lower grade machine.

Thanks
Moneysaver

howardtom4y

As an other who works in insurance actualy paying out those claims I would add that insurers on a new for old policy should replace the items lost or damaged beyond repair on a like for like basis.
Unfortunately as with computers if you bought a top of the range item 2 years ago it is probaly an entry level specification now and that is what insurers will replace it with or give the cash equivilant. This will apply for many electrical goods. Always insist on a replacement of the same make however unless offered a better make.
Many insurers now have suppliers who will give them large discounts for many goods and so if you opt for cash they will give you the amount they would have to pay to replace. this is often less than you would need to buy a replacement.
Regarding changing insurers this should make no difference to your claim settlement as every year when you renew YOU should ensure that the sums insured for the contents or your house etc adequatly reflect the cost to repace everything with new should the unthinkable happen and you loose everything. If you set the figure at say £20k and it should be £40k in the event of a total loss you will only get £20k. I have seen this happen many times.
Hope this helps.