Admin Charges by Car Insurers

Labman_2

BestAdviceUk wrote: »

Hi Labman

The answer to your question is also "Yes." It has taken over two years to research and compile the information in order to write the Guide and is full of money saving features on motor insurance, so I am sure it will be of interest to visitors of the Moneysavingexpert website.

Kind regards.

If you have a 'vested' interest in the Guide you should really ask permission before posting about it.

lisyloo

Hi BestAdviceUk,

Is this guide going to be free, or do you have to pay to get it?

If it's free and you've put in your own personal time, then thank you very much. I'm sure it will be very useful to many moneysavers.

If however this is a business venture then I think Labman is right.
You have a vested interest which at the very least you should declare.

BestAdviceUk

Hello there

Thank you for your questions regarding the Guide. As mentioned, the Insurance Guide lists the admin charges etc. that the Insurance Companies charge. There is a big variation in these charges and thus makes the Guide very interesting reading.

You pose the question - "is this guide free" and "do I have a vested interest." I have written the Guide after two years of in depth research and therefore, I do have a vested interest.

However, regarding whether it is free or not, once the Guide goes 'live' on the internet, the user can access two sections. The first will be exclusive useful information, which is completely free of charge.

The second section, (which is optional), will be available, subject to a nominal charge which hasn't yet been decided. We envisage it will be less than £2.00 and this covers the administration costs involved in compiling the data and information for the Guide on motor insurance, which is extremely comprehensive, and ways to save money on your insurance premium.

Relative to the amout of monies that can be saved by educating oneself with this information, this nominal charge will more than justify itself.

As promised, I will let you have the details of the Guide here, when it's available.

Kind regards.

Labman_2

BestAdviceUk wrote: »

Hello there

Thank you for your questions regarding the Guide. As mentioned, the Insurance Guide lists the admin charges etc. that the Insurance Companies charge. There is a big variation in these charges and thus makes the Guide very interesting reading.

You pose the question - "is this guide free" and "do I have a vested interest." I have written the Guide after two years of in depth research and therefore, I do have a vested interest.

However, regarding whether it is free or not, once the Guide goes 'live' on the internet, the user can use two sections. The first will be exclusive useful information, which is completely free of charge.

The second section will be available, subject to a nominal charge, which hasn't yet been decided. We envisage it will be less than £2.00 and this covers the administration costs involved in compiling the data and information for the Guide on motor insurance, which is extremely comprehensive, and ways to save money on your insurance premium.

Relative to the amout of monies that can be saved by educating oneself with this information, this nominal charge will more than justify itself.

As promised, I will let you have the details of the Guide here, when it's available.

Kind regards.

In that case, please read the forum rules that you signed up to....you cannot advertise on this forum....without express permission!

lisyloo

Relative to the amout of monies that can be saved by educating oneself with this information, this nominal charge will more than justify itself.

I think that's up to moneysavers to decide.

I agree with you that you can save a lot of money by educating yourself, but a lot can be done for free by using sites like this.

raskazz

What if someone pays the £2.00 then simply pastes the information onto this forum for all to see without charge?

BestAdviceUk

raskazz wrote: »

What if someone pays the £2.00 then simply pastes the information onto this forum for all to see without charge?

Hello

You would be in breach of the Copyright rules, so it would not be adviseable to do this.

I have edited my earlier post as I did not inform you that the second (payable) section is optional. I.e. the first section can be viewed free of charge, with no obligation to view the second section.

Kind regards

BestAdviceUk

lisyloo wrote: »

I think that's up to moneysavers to decide.

I agree with you that you can save a lot of money by educating yourself, but a lot can be done for free by using sites like this.

Hello

Yes, I do agree with you to a point.

However, this Guide is unique and has been compiled by a panel of insurance experts. No other information like this is available and whilst a certain amount of information can be obtained from sites like this, it will be no where near as in depth as the Guide.

As well as policy amendment fees, it covers a whole variety of other moneysaving topics too, such as how to buy insurance effectively, what to avoid, courtesy car, legal protection, no claims discount, breakdown cover, instalments, foreign travel, vehicle breakdown cover, windscreen cover, driving other cars etc. etc. To research all this information for all insurance companies, it would take forever and the average person on the street would not know where to start to extract all the information and would not have the expertise to sort out the wheat from the chaffe.

Kind regards

lisyloo

such as how to buy insurance effectively, what to avoid, courtesy car, legal protection, no claims discount, breakdown cover, instalments, foreign travel, vehicle breakdown cover, windscreen cover, driving other cars etc. etc. To research all this information for all insurance companies, it would take forever and the average person on the street would not know where to start to extract all the information and would not have the expertise to sort out the wheat from the chaffe.

But you don't need to do it for ALL companies.
You find the cheapest and then you look at the Ts&Cs in detail for the cheapest one then you reject if there's something you don't like.
Having bought insurance for about 20 years, I am of the opinion that you can't have everything and you need to compromise on some things - it's called a trade-off.
For most people the price is the most important thing and they will only reject a company if there is something really bad or unsuitable in the Ts&Cs, otherwise they will put up with things not being ideal for the cheapest price.

So I don't think the average punter needs to know about EVERY insurance company. Just read a bit more about the one or two they might use.
I think they can do that pretty much from Martins article and reading their own Ts&Cs (often you can look at a pdf on the net before buying).

I'm pretty savvy but I wouldn't reasearch EVERY company on the market.
I'd get some quote and look on quidco for cashback, then once I'd selected a cheap company I'd chcek for catches.
There is no point researching companies that you aren't going to use anyway because they are twice the price.

I would advocate that Moneysavers ue Martins guide for free (and don't forget about quidco I got £120 cashback on £150 insurance this year).

BestAdviceUk

Dear Lizzyloo

In answer to your question: YOU don't have to find out ALL the information for ALL companies but WE have to provide the information about ALL companies to allow people to make an educated choice. Insurance companies who YOU consider to be satisfactory for YOUR requirements will not necessarily be satisfactory for OTHERS.

Motor insurance is like a DNA or fingerprints. A person is unique, everyone is different; different ages, different driving experience, different occupations, different cars, different annual mileage, different accident and conviction history etc. etc. etc. All this criteria affects insurance premiums and the Guide will give you pointers as to who would be the most competitive for your required cover. Not everyone is as savvy as you. Many people are too busy and need advice and assistance when purchasing and placing their insurance. It would be beneficial to them to find all in one place and not dotted around here, there and everywhere.

Regarding the 'Cash Back' schemes, I'm not an expert in this field but I have read about lots of 'cash back' scams which have made me wary of them.

Kind regards