Current fraud with supposed "no-claims bonuses"

easynotec3

drrdf wrote: »

I think it is all about transparency. Customers need insurers to be transparent about the details of a policy in all respects before they commit to buying.

With all due respect have you purchased an insurance policy in the last 2/3 years.

All insurers MUST now send out with each quotation a KeyFacts summary which provides cover details, exclusions, cooling off periods, list of applicable charges (e.g. mid term changes, cancellation, duplicate documents etc) and a terms of business which specifies their status, if the search a number of companies or are limited to a certain number, any other fees (mainly brokers and intermeadiaries).

If a customer decides to get a quotation over the phone and take out a policy without getting a wrtitten quotation - this information will be provided over the phone and still sent out in writing

If this isn't transparrant enough i don't know what is - if the customer decides not to read these documents then it is their own fault and would receive very little sympathy from me

drrdf

In answer to your query easynotec3, I have just purchased a new motor insurance last month. I currently have 3 motor policies. After being insured with one insurer for over 10 years I discovered that they were ripping me off because I had been their loyal long-term customer. Since then I have changed my insurer every year to obtain the most cost-effective insurance. I am of course on maximum no-claims discount and have a protected NCD on all policies.

Despite what you claim, I have found that latterly insurers do not inform you of many important considerations up-front, such as all customer service and claims being on Premium telephone numbers only, the documentation change fees which will apply, the scale of premiums which they use according to their perceived change of risk before any no-claims discount is applied by them and so on. They keep it all secret to avoid customers being able easily to make comparisons, and to give them as the insurers total flexibility to set premiums and "discounts" as they choose, from their point of view so as to conceal from their insured the real scale of charges they apply, and the relativity. This does not stop those who are astute and determined making objective comparisons though, of course.

Years ago, insurers were (in my experience) much more honest and transparent. However, it is probably only those of us who had motor insurance over 50 years ago that have actually seen and experienced the significant changes and can now note the difference, which in my opinion is most certainly not one of progress nor of improvement.

raskazz

drrdf wrote: »

Despite what you claim, I have found that latterly insurers do not inform you of many important considerations up-front, such as all customer service and claims being on Premium telephone numbers only

Under regulation they have to provide contact details and they always specify the number. If calling premium rate numbers is a problem, utilise your 14-day cooling-off rights - or perhaps even take some responsibility and ask before purchasing! Oh, and I know several insurers who have freephone claims numbers. I'm not sure you've actually researched this, have you?

drrdf wrote: »

the documentation change fees which will apply

Yes they do, in the initial disclosure document/KeyFacts.

drrdf wrote: »

the scale of premiums which they use according to their perceived change of risk before any no-claims discount is applied by them and so on.

Why should they tell you this anyway? What relevance does it have to your acceptance of their policy?

drrdf wrote: »

They keep it all secret to avoid customers being able easily to make comparisons

Wrong, as per the above, insurers do not conceal these points. It is easier than ever to compare insurers terms and premium - surely you acknowledge this is true in the days of confused.com, moneysupermarket and even MSE!

drrdf wrote: »

and to give them as the insurers total flexibility to set premiums and "discounts" as they choose

So are you saying that insurers should not be able to choose what rates and terms to apply to their policies? Ludicrous.

drrdf wrote: »

from their point of view so as to conceal from their insured the real scale of charges they apply, and the relativity. This does not stop those who are astute and determined making objective comparisons though, of course.

The real scale of charges (if you mean per mid-term administration fees) is specified at inception or immediately after in writing. It is not 'concealed' in any way, shape or form.

drrdf wrote: »

Years ago, insurers were (in my experience) much more honest and transparent. However, it is probably only those of us who had motor insurance over 50 years ago that have actually seen and experienced the significant changes and can now note the difference, which in my opinion is most certainly not one of progress nor of improvement.

If you genuinely believe this you are either ignorant of the high degree of regulation of the modern insurance industry or simply putting your rose-tinted glasses on and remembering 'good times' that simply did not exist.

Why don't you go and get your car insurance documents and read through them all. Then tell me what your insurers have actually 'concealed'!