Bennetts insurance charges

rs65

Lord_Baltimore wrote: »

The 'cheapest quote' aspect doesn't come into it. Insurers that charge higher premiums still load them up with so-called admin fees because it is an easy way to get extra money for nothing.

You really need to research what you are talking about. The ones that don't fight to be cheapest don't always charge admin fees.

The ones that do fight to be cheapest, always charge admin fees.

Aretnap

Google is your friend. There are a number of insurers which don't charge admin fees for changing your details, especially if you make the changes online. If it's something you feel strongly about, vote with your feet and insure with one of them.

rs65

Aretnap wrote: »

Google is your friend.

Esure gave a pretty good explanation there.

Lord_Baltimore

rs65 wrote: »

You really need to research what you are talking about. The ones that don't fight to be cheapest don't always charge admin fees.

The ones that do fight to be cheapest, always charge admin fees.

Because my opinion is different to yours, you shouldn't equate this to mean that you're better informed.

In fact, you sound like a doormat to me. I don't mean to be insulting but just because an insurer attempts to justify its 'admin fees' doesn't validate their necessity.

You seem to swallow up their rhetoric as The Word of the Almighty.

Market forces dictate insurance costs. Insurance companies shouldn't pretend to be more competitive than they actually are by burying supplementary costs in their smallprint.

rs65 wrote: »

Esure gave a pretty good explanation there.

Ah, case proven. Doormat .

Lord_Baltimore

Aretnap wrote: »

Google is your friend. There are a number of insurers which don't charge admin fees for changing your details, especially if you make the changes online. If it's something you feel strongly about, vote with your feet and insure with one of them.

Google? What's that? Yawn.

Look, we're not discussing my personal circumstances here, we're talking about the principle. Insurers won't give a damn if a few customers walk; they can recoup those losses with things like unwarranted admin fees. Geddit?

rs65

Lord_Baltimore wrote: »

Because my opinion is different to yours, you shouldn't equate this to mean that you're better informed.

I am better informed.

Aretnap

Fair enough. If voting with your wallet doesn't work, I suggest posting some rants on Internet forums instead. That usually has insurers quaking in their boots.

sithemadmonkey

Lord Baltimore, this is the umpteenth post where you've been banging on about 'Market Forces', but ignore the fact every time that market forces are already at work - insurers who charge admin fees are doing perfectly well, which means the vast majority of their customers are perfectly happy (or at least complicit) with the admin fee-charging structure.

There are also other insurers who don't charge admin fees, so there is an alternative if you are unhappy with their practices, but please accept the fact that an awful lot of people really don't mind the principle, and are happy to have lower premiums as a result. Admin costs need to be met one way or another, and the only two choices are through premium or extra charges at the point of use. Both choices are currently available, and 'Market Forces' have determined that both are successful business models.

vaio

Aretnap wrote: »

Fair enough. If voting with your wallet doesn't work, I suggest posting some rants on Internet forums instead. That usually has insurers quaking in their boots.

or put a complaint in....given the need to treat customers fairly I'd be interested in the justification that makes a £30 change of address fee fair on a policy where for £46 they collected & processed the name, address, vehicle & driver details, issued documents, took payment and will do the renewal paperwork.

Oh....and actually provided 12 months insurance cover.

rudekid48

Lord_Baltimore wrote: »

Because my opinion is different to yours, you shouldn't equate this to mean that you're better informed.

In fact, you sound like a doormat to me. I don't mean to be insulting but just because an insurer attempts to justify its 'admin fees' doesn't validate their necessity.

You seem to swallow up their rhetoric as The Word of the Almighty.

Market forces dictate insurance costs. Insurance companies shouldn't pretend to be more competitive than they actually are by burying supplementary costs in their smallprint.



Ah, case proven. Doormat .

Well informed or not, a little more understanding of this individual case may help you to form a more balanced opinion. Bennets are not an Insurer, they are a Broker and from the original premium of £46 will have earned approx. £3.50 for writing the business. They can probably just about break even (if they're lucky) if they do not need to touch that policy again for the rest of the term. This is why - as others have said - the very cheap premiums will always have admin fees attached to them for any changes mid-term.

This is why you should always read the T's & C's before you buy to make sure that the product your are buying actually suits your needs.