Admiral Car Insurance

FinancialServicesEye

Admiral generate 57% of their revenue from marketing and 3rd party referrals, which mainly consist of non-insurance revenues gained from referral accident victims to solicitors. Although their catchy branding and shallow pseudo-funny marketing (also from Elephant, the sister company) may grab your attention, pls bear in mind the following: THEY ARE NOT A PROPER INSURER. Like so many thousand other victims of accidents caused by others drivers, when its time to claim they are nowhere to be seen and busy scanning your licences for offences to avoid dodging their responsibilities.

I think people are beginning to realise what a appallingly incompetent non-insurer this joke of an organisation is. Go elsewhere. Don't waste 50+ hrs tryig to resolve non-fault claims with a mktg company who have no time for their customers.

newfoundglory

I had a non fault claim with Admiral 18 months ago, and they dealt with it brilliantly. Are you talking about Albany Assistance, who Admiral will often use in non-fault claims?

mikey72

FinancialServicesEye wrote: »

Admiral generate 57% of their revenue from marketing and 3rd party referrals, which mainly consist of non-insurance revenues gained from referral accident victims to solicitors. Although their catchy branding and shallow pseudo-funny marketing (also from Elephant, the sister company) may grab your attention, pls bear in mind the following: THEY ARE NOT A PROPER INSURER. Like so many thousand other victims of accidents caused by others drivers, when its time to claim they are nowhere to be seen and busy scanning your licences for offences to avoid dodging their responsibilities.

I think people are beginning to realise what a appallingly incompetent non-insurer this joke of an organisation is. Go elsewhere. Don't waste 50+ hrs tryig to resolve non-fault claims with a mktg company who have no time for their customers.

Disgruntled customer?

edit - Disgruntled customer who didn't declare his points?

Nine_Lives

They were reasonable with my claim

Guy decided to drive into me as i was overtaking him. They ruled that i was at fault for overtaking (not that he was at fault for deliberately swerving into me) and paid him out way too much for the cost of his repairs (£650 payout for a £15 repair).

However i also then needed to get my car repaired. They tried to force me to get it repaired at one of their approved garages, but i took it elsewhere & they sorted the payment ok.

MarkyMarkD

FinancialServicesEye wrote: »

when its time to claim they are nowhere to be seen and busy scanning your licences for offences to avoid dodging their responsibilities.

Which part of "have you or any driver incurred any convictions in the last five years" did you not understand when completing your proposal form?

If you lie on your proposal, your policy may be void.

adamc260

Whilst I don't think Admiral are the best Insurer out there, their claims department have a lot of good people working there (I used to work in that department also.....for approx 2 years) dealing with FNOL, Present Position, Liability right through to the fraud department before I left. Many Insurers accept referral fees and whilst I don't agree with them it's hardly a sensible position saying "We're going to shy away from it" when the rest of the market continues to accept them. Yes it may be the moral high ground but they'll also get hit in the pocket. How do you think you get such cheap premiums, by them being the best Insurer in the world that gives you the best cover and customer service?

If you set up the policy with incorrect information at inception expect it to bite you in the backside when you come to make a claim hence "Please answer all questions accurately as any incorrect information could invalidate your insurance".

freddie1961

Let's hope Admiral ar a solid insurer as I have been with them for 5 years and found them to be very competitive in their premiums and very efficient admin wise. Not had to make a claim yet though so fingers crossed I don't need to or if I do they are just as efficient! By the way £90 on EVERYONE's premium goes to paying whip lash injury claims!

mikey72

freddie1961 wrote: »

Let's hope Admiral ar a solid insurer as I have been with them for 5 years and found them to be very competitive in their premiums and very efficient admin wise. Not had to make a claim yet though so fingers crossed I don't need to or if I do they are just as efficient! By the way £90 on EVERYONE's premium goes to paying whip lash injury claims!

£90?

That number is getting bigger everytime.

I have one car insurance at £89.
Does that mean not only an I effectively insured for free, but they're also losing money on me?

System

mikey72 wrote: »

£90?

That number is getting bigger everytime.

I have one car insurance at £89.
Does that mean not only an I effectively insured for free, but they're also losing money on me?

Wasn't that the figure quoted recently on the national news ?

It will be an average, which I assume you know and were just being jovial

Parking_Trouble

FinancialServicesEye wrote: »

Admiral generate 57% of their revenue from marketing and 3rd party referrals, which mainly consist of non-insurance revenues gained from referral accident victims to solicitors. Although their catchy branding and shallow pseudo-funny marketing (also from Elephant, the sister company) may grab your attention, pls bear in mind the following: THEY ARE NOT A PROPER INSURER. Like so many thousand other victims of accidents caused by others drivers, when its time to claim they are nowhere to be seen and busy scanning your licences for offences to avoid dodging their responsibilities.

I think people are beginning to realise what a appallingly incompetent non-insurer this joke of an organisation is. Go elsewhere. Don't waste 50+ hrs tryig to resolve non-fault claims with a mktg company who have no time for their customers.

Admiral Group are far from being my favourite insurer but the OP has to provide the source of their figures. Please supply a link to your source.

The 57% does not match any official number I can find. The latest official figures that I know of are here http://www.admiralgroup.co.uk/pdf/rns/2011_interim.pdf

I am not an accountant but I think they get roughly 10% of their income from ancillary sources which includes referral fees, comparison site income, legal expense cover, etc. It is a very profitable (risk free?) part of the business.

They clearly are an insurer, approved and regulated by the FSA.

They probably stand out as an insurer with a very successful and highly profitable business model. They did issue a profits warning - expecting to hit the low end of forecast but still 10% up on 2010.

They continue to increase their customer base and revenue at spectacular levels.

They appear to stack 'em high and sell 'em cheap. they very often come out cheapest. Admiral, Bell, Elephant, Diamond all the same group and maybe giving the impression there is more competition and choice than really exists.

To make such good profits they have to often play hard ball and have some T&C's in the policy that advantage them rather than the customer.

They also appear to love referral fees (industry average is around £800 for an ambulance chasing commission fee) but it is recognised that this practice encourages PI claims, many of which are bogus and add hugely to your premiums.

Perfect drivers can just go on price but my advice is read the T&C's very carefully and compare with other companies before selling your soul to the Admiral Group. I have some scars and open wounds from dealing with them - suckered into a fantastic price but speared by the small print. Many others will have had nothing but a good experience and maybe that is the norm.

Many people will be happy with the price. Many people will have had a good experience when making a claim. I have dealt with some good people of theirs in Wales and the odd one in India but I have also dealt with some incompetent people and processes. A real spectrum of efficiency with some wonderfully inept mistakes and inefficiencies.

The lesson I have learned (the hard way) with Admiral is "Caveat Emptor" or "Let the buyer beware".

.

mikey72

BAA1 wrote: »

Wasn't that the figure quoted recently on the national news ?

It will be an average, which I assume you know and were just being jovial

Figures given are £2billion paid out in 600,000 claims, average of £90 on each policy.

Average payount is £3333.

So on the insurers figures, that must come from only 22 million drivers paying for insuance/

There's about 33 million cars, not including buses, trucks, etc on the road in the uk.

I just find it odd that I have three cars, one premium doesn't even pay for whiplash claims, the second one over half goes to whiplash payouts, and even the last one over a third goes to it.

I think if you looked at the statistic to include all motor insurance, it would be less of a headline grabbing number.

(£60 per car maybe
average of 2 cars per person worldwide, so £16 per person in the uk?)