Axa Motor Insurance Robbery

ValiantSon

colinsway wrote: »

The car was the same year, same value. Nothing else changed. No change in risk. Feel free to make excuses but for those who care about money, a trivial change in policy details will cost you. This is a warning about substantial charges that are applied automatically by AXA.
Take it for what it is, a warning that you will be charged and that the online management of the policy results in EXCESSIVE fees.

No one is making excuses for them. The cost of underwriting fluctuates. When you change the terms of the insurance you necessarily generate a new premium. There is a change in risk because it is a different car. I'm not sure you actually understand what "risk" is. The risk is the risk to the insurer and is based on, partly, the expected value they would have to pay out on a claim.

It is your opinion that the car was the same value, but as it had a lower mileage then it almost certainly wasn't.

Those fees are not excessive.

colinsway

So ValiantSon, you are clearly an expert RISK and happy for Insurance companies to get away with excessive charges Hmm!Do you get a discount?
And some sort visionary, probably deeply religious but the fact of the matter is that the risk WAS identical. My stated value was identical AND for a much cheaper vehicle for comparison....Similar result...DAYLIGHT ROBBERY!
AXA AUTOMATIC LEGAL ROBBERY ....because they can!
So...for those who care about money...YOU HAVE BEEN WARNED.

paddyandstumpy

To the ranting OP; car insurers use a rating factor called years owned.

Fact of the matter is the new car had zero years owned factor, as it was a new car to you.

Irrespective of the fact it was the same car, age and declared value. Irrespective of the fact you owned an identical model prior.

Side point, unless it was an agreed value policy the declared value is an irrelevance as youll only get market value in the event of a total loss. You arent insuring it for the declared value so it makes little to none difference.

IMO the insurer in question has done nothing wrong. They publish their charges, you signed up to them when you bought their policy.

bigisi

colinsway wrote: »

So ValiantSon, you are clearly an expert RISK and happy for Insurance companies to get away with excessive charges Hmm!Do you get a discount?
And some sort visionary, probably deeply religious but the fact of the matter is that the risk WAS identical. My stated value was identical AND for a much cheaper vehicle for comparison....Similar result...DAYLIGHT ROBBERY!
AXA AUTOMATIC LEGAL ROBBERY ....because they can!
So...for those who care about money...YOU HAVE BEEN WARNED.

But most people who “care about money” are clever enough to read the terms and conditions applicable to any contract they enter into where money is involved. If you’re not, it’s hardly anybody else’s fault.

This isn’t news and the warning isn’t needed.

rs65

OP, if I'm understanding this correctly you weren't charged an admin fee as you did the change online. The charge is purely related to risk?

If so, sounds like their rates have increased assuming it truly is an identical car. It could have worked in your favour.

FlameCloud

colinsway wrote: »

So ValiantSon, you are clearly an expert RISK and happy for Insurance companies to get away with excessive charges Hmm!Do you get a discount?
And some sort visionary, probably deeply religious but the fact of the matter is that the risk WAS identical. My stated value was identical AND for a much cheaper vehicle for comparison....Similar result...DAYLIGHT ROBBERY!
AXA AUTOMATIC LEGAL ROBBERY ....because they can!
So...for those who care about money...YOU HAVE BEEN WARNED.

Let us know what the police say when you have reported it to them.

ValiantSon

colinsway wrote: »

So ValiantSon, you are clearly an expert RISK and happy for Insurance companies to get away with excessive charges Hmm!Do you get a discount?
And some sort visionary, probably deeply religious but the fact of the matter is that the risk WAS identical. My stated value was identical AND for a much cheaper vehicle for comparison....Similar result...DAYLIGHT ROBBERY!
AXA AUTOMATIC LEGAL ROBBERY ....because they can!
So...for those who care about money...YOU HAVE BEEN WARNED.

What have you been drinking?

Moving on from your bizarre rantings about religion, the simple fact is that the risk wasn't the same and you were charged a small amount for the increased risk plus an admin fee that is within the law and notified to you at the time you bought the policy.

Your continued ranting in the face of rational and informed explanations from several people does you no favours.