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Speaking of insurance companies....
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Author:  wannabeeahack [ Sat Sep 08, 2012 10:09 am ]
Post subject:  Speaking of insurance companies....
So the lads car was a "total loss", ok, agreed

it cost £3k last november

he had a £400 excess, fair enough....but heres the rub/sucker punch

because he was paying monthly for insurance (started March) Elephant demanded the balance of his payments upon paying out for his car, all he got was £760, the one good point being he had a policy till March and just needed to find a car and swap the cover over

NOW they (elephant) had intimated his policy ended with his claim, meaning he will have to take out a new policy....

crooks
Author:  edders23 [ Sat Sep 08, 2012 10:15 am ]
Post subject:  Re: Speaking of insurance companies....
I had that done to me a few years ago by Westminster on a taxi policy lost all my no claims the lot they insisted that once they had decided to write the car off (their decision) the policy was automatically cancelled and any new vehicle would have to start from scratch !
Author:  wannabeeahack [ Sat Sep 08, 2012 11:07 am ]
Post subject:  Re: Speaking of insurance companies....
add that to the stupidly high premiums for young drivers and its no wonder so many risk driving a £200 banger with no insurance and perish the consequencies

so HE has paid out £5000 in insurances (over 3 years), had fully comp and its been for nowt and IVE had fully comp and paid my own repair bills and am now owed £700 by my insurers (grabbed to cover paying out they never did) which i can have back in a month
Author:  toots [ Sun Sep 09, 2012 3:49 pm ]
Post subject:  Re: Speaking of insurance companies....
Wannabee wrote:
because he was paying monthly for insurance (started March) Elephant demanded the balance of his payments upon paying out for his car


A driver I know had this on his policy and rang the broker to inquire what it had to do with them as they had been paid in full by the finance company that provides the funds which are paid on a monthly basis. They couldn't answer the question. It would be interesting to find out on what grounds they can legally request the full payment when they've already had it :wink:
Author:  wannabeeahack [ Sun Sep 09, 2012 4:21 pm ]
Post subject:  Re: Speaking of insurance companies....
toots wrote:
Wannabee wrote:
because he was paying monthly for insurance (started March) Elephant demanded the balance of his payments upon paying out for his car


A driver I know had this on his policy and rang the broker to inquire what it had to do with them as they had been paid in full by the finance company that provides the funds which are paid on a monthly basis. They couldn't answer the question. It would be interesting to find out on what grounds they can legally request the full payment when they've already had it :wink:


not sure how that applies to Elephant, are they brokers, insurers or underwriters?

in the lads case theyeve said its "usually" company policy to keep the insurance running, but will confirm it next week, however he has an email STATING he can do a vehicle change and, of course, remain covered

his payout cheque arrived the same day his DDM went out so theyve had £110 back already
Author:  toots [ Sun Sep 09, 2012 4:44 pm ]
Post subject:  Re: Speaking of insurance companies....
Wannabee wrote:
not sure how that applies to Elephant, are they brokers, insurers or underwriters?


I don't see how it matters tbh, did they provide the finance?
Author:  wannabeeahack [ Sun Sep 09, 2012 8:08 pm ]
Post subject:  Re: Speaking of insurance companies....
toots wrote:
Wannabee wrote:
not sure how that applies to Elephant, are they brokers, insurers or underwriters?


I don't see how it matters tbh, did they provide the finance?


elephant is a front, a trading name, it could be the mafia behind it

Quote:
elephant.co.uk is a trading name of EUI Limited, an Admiral Group plc company. Our offices are located at Capital Tower, Greyfriars Road, Cardiff, CF10 3AZ (Company Number 2686904).



so elephant is admiral...... and thier premiums (when weve been checking) are almost the same
Author:  toots [ Sun Sep 09, 2012 9:58 pm ]
Post subject:  Re: Speaking of insurance companies....
wannabeeahack wrote:
toots wrote:
Wannabee wrote:
not sure how that applies to Elephant, are they brokers, insurers or underwriters?


I don't see how it matters tbh, did they provide the finance?


elephant is a front, a trading name, it could be the mafia behind it

Quote:
elephant.co.uk is a trading name of EUI Limited, an Admiral Group plc company. Our offices are located at Capital Tower, Greyfriars Road, Cardiff, CF10 3AZ (Company Number 2686904).



so elephant is admiral...... and thier premiums (when weve been checking) are almost the same


All that isn't relevant as they don't provide the finance do they? My question to them would be how can they demand something they've already had via the finance company
Author:  wannabeeahack [ Sun Sep 09, 2012 10:36 pm ]
Post subject:  Re: Speaking of insurance companies....
i dont know yet how the finance works, maybe Admiral have a CCL and do thier own....

i bet its all thier super-fine print, having said that the actual T&C's arent easily obtained, they are Insurance companies after all, robbing thier own grannies is a job reference and qualification....
Author:  toots [ Mon Sep 10, 2012 2:31 am ]
Post subject:  Re: Speaking of insurance companies....
wannabeeahack wrote:
i dont know yet how the finance works, maybe Admiral have a CCL and do thier own....

i bet its all thier super-fine print, having said that the actual T&C's arent easily obtained, they are Insurance companies after all, robbing thier own grannies is a job reference and qualification....


You have a policy but you don't know who provided the finance for it?
Author:  grandad [ Mon Sep 10, 2012 3:41 am ]
Post subject:  Re: Speaking of insurance companies....
toots wrote:
wannabeeahack wrote:
i dont know yet how the finance works, maybe Admiral have a CCL and do thier own....

i bet its all thier super-fine print, having said that the actual T&C's arent easily obtained, they are Insurance companies after all, robbing thier own grannies is a job reference and qualification....


You have a policy but you don't know who provided the finance for it?

Lets face it, who gives a toss who the finance for an insurance policy is with. Most of us are only concerned with the cheapest quote. Oh and of course, if we were missold PPI to go with it. :mrgreen:
Author:  Nidge2 [ Mon Sep 10, 2012 4:39 am ]
Post subject:  Re: Speaking of insurance companies....
wannabeeahack wrote:
So the lads car was a "total loss", ok, agreed

it cost £3k last november

he had a £400 excess, fair enough....but heres the rub/sucker punch

because he was paying monthly for insurance (started March) Elephant demanded the balance of his payments upon paying out for his car, all he got was £760, the one good point being he had a policy till March and just needed to find a car and swap the cover over

NOW they (elephant) had intimated his policy ended with his claim, meaning he will have to take out a new policy....

crooks



I'm starting to hate insurance companies with a passion, my renewal has come through for my own car, maximum no claims bonus (which means ef all nowadays) an increase of £125 on last year.
Author:  2 Jobs [ Mon Sep 10, 2012 9:58 am ]
Post subject:  Re: Speaking of insurance companies....
I'll stick my oar in a bit later when more time. Not to defend ins co, just to clarify how the system works.
Author:  wannabeeahack [ Mon Sep 10, 2012 10:53 am ]
Post subject:  Re: Speaking of insurance companies....
i can BET that - if asked - elephant would say they are obliged to collect the monies due to the inusrance finance on behalf of the providers

why it has to be collected when the policy doesnt end till march is the real question

if he now decides to stop the policy i bet theres no refunds

and Toots, i bet you dont know 100% who your insurers actually are, my LV policy is a Highway policy and even Highway use underwriters who have the final say on premiums
Author:  Sussex [ Mon Sep 10, 2012 7:08 pm ]
Post subject:  Re: Speaking of insurance companies....
wannabeeahack wrote:
so elephant is admiral...... and thier premiums (when weve been checking) are almost the same

For mini Sx elephant were miles cheaper than Admiral.
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