Insurance rip off???

Spiderham

whatmichaelsays wrote: »

Octagon is a broker, not an insurer

They appear to be an insurer not a broker http://www.octagoninsurance.com/about-octagon/

Agree with your points about comparisons on broker price though

reason2

insurance is not based on risk factors.. its based on charging more for the most popular answers..

thats why it costs mroe to insure overnight in a garage than it does street parking.

Quentin

reason2 wrote: »

insurance is not based on risk factors.. its based on charging more for the most popular answers..

thats why it costs mroe to insure overnight in a garage than it does street parking.

Not really.

When it costs less its generally because its less risky

Which is demonstrable in the case of parking on the road v garage!

trukdiver

Spiderham wrote: »

They appear to be an insurer not a broker http://www.octagoninsurance.com/about-octagon/

Agree with your points about comparisons on broker price though

Maybe a broker or an insurer depending on the risk?

"This Octagon insurance policy is underwritten by Inter Partner
Assistance SA and administered on their behalf by Arc Legal
Assistance Limited.
The following insurance intermediaries; One Quote Direct
Insurance Services Limited and Octagon Insurance Services
Limited have been given authorisation by Arc to sell and
administer this insurance policy. "

Gibraltar FSC lists the company as an intermediary:

http://www.fsc.gi/fsclists/list.aspx?Find=8

http://www.fsc.gi/fsclists/Details.aspx?EntityID=16421

whatmichaelsays

reason2 wrote: »

thats why it costs mroe to insure overnight in a garage than it does street parking.

The reason for that is because (proportionally) the number of thefts from driveways and garages is growing against thefts from the street.

Improved car security has got us to the stage where the only way to actually steal a car is to break into the house and take the keys. It's much easier for your local scroate to know which keys are in which house if the car is parked directly outside or even inside it.

Aretnap

whatmichaelsays wrote: »

The reason for that is because (proportionally) the number of thefts from driveways and garages is growing against thefts from the street.

Improved car security has got us to the stage where the only way to actually steal a car is to break into the house and take the keys. It's much easier for your local scroate to know which keys are in which house if the car is parked directly outside or even inside it.

Plus the number of people who prang their cars reversing into their garages is quite large - potentially large enough to outweigh any benefit you do get by putting it in the garage. Especially if you live in a nice area where the risk of having your car stolen/vandalised/hit by a passing drunk driver while it's parked out on the street is very low to begin with.