Sainsbury’s insurance

davidexpocaroenter

Hi,I took out a policy with Sainsbury’s car insurance and the underwriters were a company called pukka/action365 Ltd. I had my car stolen on the 15 September. I phoned twice to notify them, once it took me 2.5hrs, then 3.5 hrs to talk to them then.I heard nothing whatsoever of them after that. After shaming them on t  we utter they gave me a call and made me an offer £4830, even though on the policy its value was £7650. I replied  to them by email on the 14/10/2022 and have sent about 10 emails since and haven’t had one response from them, I’ve called and been cut off after 3 hours, Sainsbury’s don’t want to know. Is there anything else I can do? I’m very frustrated. 

DullGreyGuy

Your insurance almost certainly says its insured at market value not £7,650... there arent (m)any policies outside of the classic car world offering fixed value.

Register a complaint about the delays. If you are unhappy with their response to the complaint, or you dont get one within 8 weeks, then you can take the matter to the financial ombudsman. 

[Deleted User]

You cannot just call them up and demand they pay the £7650 as that isn't necessarily the actual value. Otherwise I could insure my 8 year old car for £25,000 and crash it and get a payout.

You need to look at WBAC, autotrader, ebay etc and find SOLD prices (not listed prices) for cars of equivalent spec and then go back to them with proof the car should be worth a bigger payout 

dunstonh

After shaming them on t  we utter they gave me a call and made me an offer £4830, even though on the policy its value was £7650. 

That means they will pay market value of upto £7650.  It doesn't mean they will automatically pay out £7650.      

Sainsbury’s don’t want to know. 

Sainsburys are just white labelling a cheap and cheerful product to make money.  This goes for all the supermarkets and their financial products.

 Is there anything else I can do?

What is the market value?   Webuyanycar is a good way to get a ballpark figure. Then add a little bit on to that (as they pricing on buying it from you, not selling it to you).   Then look around to see what similar models of your year and mileage and condition are selling for.

DullGreyGuy

dunstonh said:
Sainsburys are just white labelling a cheap and cheerful product to make money.  This goes for all the supermarkets and their financial products.

No, Tesco's has always did theirs as a joint venture with an insurer and not just a white label, but bought Aegis out of the deal last year and so is now their insurance is  Tesco Underwriting Limited wholly owned by Tesco Personal Finance PLC. Having dealt with one of their JVs before they were an active part of the whole management process and it was a pain as clearly for them breakeven was a perfectly acceptable outcome whereas we clearly wanted it to be profitable. 

As far as I am aware Sainsbury's is a fully fledged insurance broker these days 

Asda is just a white label and not sure any others do any these days.

davidexpocaroenter

yes, thanks for your answers, I haven’t demanded anything by the way, I accepted their offer, I’m just wandering if it’s ok not to actually respond to someone for a whole month? I haven’t received one piece of acknowledgment to say they’ve actually received any of my emails, nothing to say it’s proceeding and I can’t talk to anyone or get any information out of them. Maybe I should catch a train up to their offices in Cheshire. 🤷‍♂️ does the company have any human beings working there?

DullGreyGuy

davidexpocaroenter said:

Maybe I should catch a train up to their offices in Cheshire. 🤷‍♂️ does the company have any human beings working there?

I believe humans work there, however Pukka / Action365 is a MGA and not an insurance company and so may or may not be the firm actually handling the claims... some MGAs have authority to and others dont. 

davidexpocaroenter

I’m sure someone should have the decency to respond to my 5/6 emails or phone calls over the past month. I’ve had one email since my car was stolen 2 months ago.