Greedy broker

john_haynes

Decided to change my rental van halfway through my Insurance year, asked for existing insurance to be moved to newer vehicle and what extra charge would be, I was quoted £300. Enquiries to other brokers say £35 is the norm, I have a clear insurance record and I pay a premium rate, to scrap this contract will result in a high loss.
Is there an insurance professional body that I can appeal to as I think
this broker is having me on

dacouch

What do you mean by rental van, do you mean a SDH van you operate?

Quentin

The £35 you have been quoted sounds an admin fee for changing vehicle, whereas the £300 sounds like an admin fee plus the premium adjustment.

Your newer model presumably costs more to insure than the one you started the policy with.

To answer your question, you cannot "appeal" over the charge to anyone, but you can complain formally to your broker that their charge is unfair, and if you are unhappy with the reply you can then escalate the complaint to the FOS (at no cost to you) for their adjudication.

dunstonh

I was quoted £300. Enquiries to other brokers say £35 is the norm

There is usually an admin fee and a change in premium. £35 is the ballpark for the admin fee. The change in premium could be anything. Are you comparing like for like (i.e. others admin fees but not premium change vs both)

Is there an insurance professional body that I can appeal to as I think
this broker is having me on

What does their tariff say? Pricing is a commercial issue. The regulator does not act on prices if considers fair or unfair. However, the charges need to be disclosed. So, in this case, you would expect to see the published admin fee (not the premium)