Insurance for car, quote from "boom" 28 October 2022 at 5:58PM in Motoring 10 replies 320 views

Fortyfoot

I have just done a comparison and boon comes out cheapest, Admiral and LV came  next. Only a few pounds in them. I have not heard of boom. 

Any views on which is best to go for?

Thanks,

Fortyfoot

EssexExile

Never heard of Boom, didn't like their website. We have LV= and they were great last year when we had a no-fault claim.

Car_54

LV= is long established and respectable, I've used them in the past and a claim was handled efficiently.

Admiral's reputation is not brilliant. Never heard of Boom.

DullGreyGuy

Car_54 said:

LV= is long established and respectable, I've used them in the past and a claim was handled efficiently.

Admiral's reputation is not brilliant. Never heard of Boom.

LV= sold its GI arm and so its now part of Allianz 

Admiral is a budget provider, as long as you remember that and don't expect top tier then they're fine... dealt with my fault claim efficiently.

Unlike the former two Boom is an intermediary not the actual insurer. Never heard of them either but its not difficult to set up an intermediary as an Appointed Representative of an authorised firm as they are. Didn't do too much digging to try and find if they are a tied agent to a single underwriter or using a panel. 

mgfvvc

The key difference with Admiral group companies is that they have a clause allowing them to reclaim costs from you if you are over the limit. Fine if you are extremely careful or teetotal.
Me, I'm with LV=. No issues at the moment other than the silly name.

adonis

mgfvvc said:

The key difference with Admiral group companies is that they have a clause allowing them to reclaim costs from you if you are over the limit. Fine if you are extremely careful or teetotal.
Me, I'm with LV=. No issues at the moment other than the silly name.

That is interesting, I wonder if they have a clause to reclaim costs if you drive like a !!!!!! and go through red lights etc.

ontheroad1970

mgfvvc said:

The key difference with Admiral group companies is that they have a clause allowing them to reclaim costs from you if you are over the limit. Fine if you are extremely careful or teetotal.
Me, I'm with LV=. No issues at the moment other than the silly name.

Their name is actually their initials - Liverpool Victoria.

Fortyfoot

Thanks every one, great advice. LV for me, I used them 40 years ago.

Fortyfoot

DullGreyGuy

ontheroad1970 said:

mgfvvc said:

The key difference with Admiral group companies is that they have a clause allowing them to reclaim costs from you if you are over the limit. Fine if you are extremely careful or teetotal.
Me, I'm with LV=. No issues at the moment other than the silly name.

Their name is actually their initials - Liverpool Victoria.

and the = sign?

The marketing speel at the time said it was supposed to be because we are all equal and of its mutuality despite the fact that the GI business is owned by Allianz and not a mutual. 

Catsacor

DullGreyGuy said:

Car_54 said:

LV= is long established and respectable, I've used them in the past and a claim was handled efficiently.

Admiral's reputation is not brilliant. Never heard of Boom.

LV= sold its GI arm and so its now part of Allianz 

Admiral is a budget provider, as long as you remember that and don't expect top tier then they're fine... dealt with my fault claim efficiently.

Unlike the former two Boom is an intermediary not the actual insurer. Never heard of them either but its not difficult to set up an intermediary as an Appointed Representative of an authorised firm as they are. Didn't do too much digging to try and find if they are a tied agent to a single underwriter or using a panel. 

Which will mean, if there's a claim, you have an additional layer of people involved and the more there are the more lengthy and problematic it can be - speaking from experience.
Cheap motor insurance is cheap for a reason - you, often, don't get a smooth and troublefree situation when a claim is made - be it your own or the 3rd party's - speaking from experience again.

DullGreyGuy

Catsacor said:

DullGreyGuy said:

Car_54 said:

LV= is long established and respectable, I've used them in the past and a claim was handled efficiently.

Admiral's reputation is not brilliant. Never heard of Boom.

LV= sold its GI arm and so its now part of Allianz 

Admiral is a budget provider, as long as you remember that and don't expect top tier then they're fine... dealt with my fault claim efficiently.

Unlike the former two Boom is an intermediary not the actual insurer. Never heard of them either but its not difficult to set up an intermediary as an Appointed Representative of an authorised firm as they are. Didn't do too much digging to try and find if they are a tied agent to a single underwriter or using a panel. 

Which will mean, if there's a claim, you have an additional layer of people involved and the more there are the more lengthy and problematic it can be - speaking from experience.
Cheap motor insurance is cheap for a reason - you, often, don't get a smooth and troublefree situation when a claim is made - be it your own or the 3rd party's - speaking from experience again.

Not always... some the intermediary is fully empowered to handle claims or claims up to a reasonable limit and others you deal directly with the insurer.

Even if you buy from an insurer some outsource to TPAs for claims handling but again may be a capped delegated authority so you still have the other parties involved.

Boom actually appears to be underwritten buy their Gibraltar based sister company and so its fairly likely that claims handling will be delegated.