Bad news with CAMC

[Buckman]

Fair enough comment. previously we have claimed from Towergate and everything went smoothly with no major hike on renewal. We claimed from CMC when it was an insurance policy and no issues except that renewal nearly doubled. How many caravan insurance policies have the DEFAQTO rating and it has never bothered me.
CMC policies before tax are more expensive than many other policies. The only thing you are saving on is the tax. However your choice but for now we would avoid CMC Caravan Cover until it has been around for a few years and has a proven track record.
Luckily as individuals we all have freedom of choice, well sort of at present. LOL!

 

[Raywood]

I think you will find that well over half have. It is an independent assessment of the insurance and gives you a good insight into what you are getting. I assume that any policy without it is not up to scratch or why would they avoid it.
I have had a claim with CAMH and other than some loss of bonus there was no loading of the policy.

 

[RayS]

Insurance in my universe should operate differently!

The need to have car ( and most types of insurance) insurance stems from the probability that that at some time you will need to make a claim or some one will claim against you. Consequently when you make your claim, it actually reduce your future likelihood of needing to claim.... So before a claim your premium should ramp up, and diminish after a claim.

That probably explains my high premiums

One day society will agree with me, but I may not be around when it happens

Very good point Prof. What are your views that travel insurances generally do not offer ' no claims' discounts or voluntary excess reductions ? In my view both of these would significantly reduce the likelihood of low cost claims which probably cost nearly as much to administer as high value ones, and would enable the customer of offset sudden and sometimes prohibitive increases e..g when reaching 80 years while still being able to meet all medical and other previous requirements. 'Shopping around' does not solve the problem

 

[ProfJohnL]

Very good point Prof. What are your views that travel insurances generally do not offer ' no claims' discounts or voluntary excess reductions ? In my view both of these would significantly reduce the likelihood of low cost claims which probably cost nearly as much to administer as high value ones, and would enable the customer of offset sudden and sometimes prohibitive increases e..g when reaching 80 years while still being able to meet all medical and other previous requirements. 'Shopping around' does not solve the problem

I'm sorry Ray, but I only allow people into my universe that agree with me, The insurers apparently don't agree so they can't come in

 

[Raywood]

The idea of insurance is that a large number of people pay into a fund which will then cover those who suffer losses. It was originally set up by Phoenician ship owners to cover lost ships. It has moved on quite a bit since then but that is the principal.
Unfortunately you cannot predict the years you will have a claim so the premium cannot be ramped up before you do. The policy is an annual contract so you cannot pay extra in the early years to cover you in later ones when the risk gets higher as the premium always has to be the sum needed for the year and has no reserve for later years when you may have moved insurer anyway.
Travel is normally a one off policy for holidays which vary considerably so a no claims bonus is not possible for most as the risk varies assuming you stick with the same insurer.

 

[Beachball]

Customer loyalty has sadly gone out the window when the Renewal comes up we wait for there qote and then i go online and usually i can get a better deal with Insurance & Breakdown Cover and 10 years+ no claims protected included.

 

[Buckman]

Customer loyalty has sadly gone out the window when the Renewal comes up we wait for there qote and then i go online and usually i can get a better deal with Insurance & Breakdown Cover and 10 years+ no claims protected included.

Very true, but occasionally you you get a good deal on a renewal. We renewed with Towergate for the 3rd year running as they beat all other quotes. Car was renewed with RIAS as again they beat every one hands down. RIAS actually dropped the price by nearly £40!

 

[RogerL]

Very true, but occasionally you you get a good deal on a renewal. We renewed with Towergate for the 3rd year running as they beat all other quotes. Car was renewed with RIAS as again they beat every one hands down. RIAS actually dropped the price by nearly £40!

There's often no rhyme or reason with insurance renewals - my car insurance is arranged through the IAM Surety scheme for Advanced Motorists through their appointed broker - I've long since had full protected NCD but each renewal can be anywhere - a drop, a minimal increase or a huge increase like last year - I always shop around and if I can find cheaper the broker will price-match it - but when it's a big increase the broker should do that, not make me do it.

I'm particularly frustrated with the broker because my present claim for no fault damage was just passed automatically to a third-party claims handler leaving me to co-ordinate between the insurer, the repairer, the broker and the claims handler.

 

[Beachball]

Well we got a Renewal from British Gas (Boiler Insurance including a Annual service first year was quite reasonable but when the renewal came in £80 more for second year i manage to get a better deal online
My wife been with one call insurance they include breakdown cover and they have been Brilliant

 

[Raywood]

Brokers are supposed to act for you in finding the right policy for you, this is not necessarily the cheapest but what they think suits your needs. However if the premium with your presnt insurer has gone up substantially it is good practice for them to mention this and at least ask if you want them to find a lower premium with another insurer.