Insurance was IT Me

[Gumbo]

Insurance companies are Not Rouges they are in Business to make a Profit.

If you are Careless enough to leave your Van in a place it can be STOLEN or you do not take Precutions, YOU need Insurance.

If YOU don't check Tyre Pressures and Tyres etc on YOUR Car and Caravan before you set off you NEED Insurance.

If you Don't KNOW how to load your Caravan You NEED Insurance

So really YOU are paying a lot of MONEY for the IDIOTS who don't take the precautions or who don't Understand how to Drive and Behave like reasonable People.

Some people will be offended by this post BUT ask yourself did YOU do everything you could to prevent an INSURANCE claim !!! thus costing the rest of the Caravan Community a LOT of MONEY

 

[Soozeeg]

May I ask why you always type in capital letters?

 

[Gumbo]

To emphasise a POINT pleases don't try to pick holes in my post. It is a simple point nothing more,do YOU not agree with the points being made ??

 

[Parksy]

'Gumbo'

I see that on 09/02/2009 you were bemoaning the level of security that was being asked for by caravan insurers.

You wrote:

'.....it seems the Insurance companies are asking for more and more security. I wonder how long it will be before they refuse Insurance if you don't have the Van bolted to the ground on all four corners using chains etc .'

On 22/02/2009 you opened a topic in which you wrote that you and others had invested funds to insure yourselves.

http://www.practicalcaravan.com/newforums/fm_messages.asp?FO=15&FM=436006
So we can surmise from your posts that those who have made claims against insurance policies that they paid for have not cost you anything.

You wrote that some people will be offended by your post.

This particular forum does not exist to offend it's members or those who contribute to it. We don't call each other 'IDIOTS' and we don't post using capitals.

Insurance companies assess risk and fix premiums which reflect the degree of risk.

If the insurer accepted the risk and the premium is paid they would normally be expected to honour a claim, end of story.

The consumer chooses either to pay for cover or not unless he adopts a similar scheme to your own.

 

[Gumbo]

Hi Parksy

Correct I did post with regards to the level of protection Insurance companies now require, and yes a group of of us are now "self insured". My point was it costs people a lot of money in cover, for the ones who don't seem to care.

The offend comment was not made with the intent to " offend " it was for the people who have had to claim from the Insurance companies for their own folly.

" If the insurer accepted the risk and the premium is paid they would normally be expected to honour a claim, end of story "

Then why all the complaints about Insurance companies on Forums like this ?? so much so that one particular company can not be named on this forum ??

 

[Dustydog]

Hi Parksy

You said: "If the insurer accepted the risk and the premium is paid they would normally be expected to honour a claim, end of story".

That was true a few years ago but I suspect things have changed for the worse.

Initially , months ago I felt Gumbo's posts were very misleading for newbies and indeed to this day I continue to insure with the CC.

That said I can see the merit in his syndicate although I suspect one or two claims in the first two years could wipe them out. Anyway whilst it is not for me , yet , maybe when my van is 10 years old or more I just may be tempted to think about Gumbo's proposals.

Why do I say this? Well as you will see from other posts I've done, William Merrick CBE , the Chief Financial Services Ombudsman has said 6 out of 10 claims rejected by insurers were in error and thus he has found in favour of the Insured. More so the number of complaints received is at an all time high!

Reassuring or what?

Just think of the por devils who didn't complain when their claims were rejected!!

Cheers

Dustydog

 

[Parksy]

Hi Parksy

Correct I did post with regards to the level of protection Insurance companies now require, and yes a group of of us are now "self insured". My point was it costs people a lot of money in cover, for the ones who don't seem to care.

The offend comment was not made with the intent to " offend " it was for the people who have had to claim from the Insurance companies for their own folly.

" If the insurer accepted the risk and the premium is paid they would normally be expected to honour a claim, end of story "

Then why all the complaints about Insurance companies on Forums like this ?? so much so that one particular company can not be named on this forum ??

Hi Gumbo

I accept that your post was not intended to offend people but I always get a bit nervous when I see capital letters appear in the middle of sentences. I always imagine the writer sitting there foaming at the mouth :0)

 

[Parksy]

I would always advise anyone looking for a caravan insurance quote to consider the Camping and Caravan Club or the Caravan Club insurance first.

Neither of these provide the cheapest policies but 'cheap' policies can prove to be very expensive if they have hidden loopholes which allow insurers to avoid honouring their policies.

Gumbo raises some good points about the precautions that we all need to take to prevent insurance claims but although I have no figures to back this up I would suggest that the major cause of caravan insurance claims is because of caravan theft.

We should do everything possible to deter thieves but

it would appear that there is almost no 100% method to stop a determined caravan thief. Unless the police and courts treat caravan theft more seriously this will be the main factor which costs us money.

 

[ProfJohnL]

There is nothing that says you have to insure your caravan, unless it is a stipulation in an HP or lease agreement. I assume that Gumbos syndicate is to avoid the premiums that most commercial insurers charge.

So I am intrigued by Gumbos syndicate,

I have to assume that the syndicate only cover caravans owned by the syndicate members.

It is a group of people that are jointly accepting liability if a member suffers a loss, then who decides what is covered, and what happens if the rest of the syndicate cannot agree?

With a small membership the liability is significant, so its fine if no claims are made, but as DD says a few may wipe out the scheme.

I am also concerned that by acting as a syndicate, it fulfils the criteria that the Inland Revenue may consider it to be an insurance business, and thus subject to all the tax liabilities of such a business, and not forgetting the Governments insurance premium tax.

 

[Gumbo]

John

8 people all friends have put

 

[Mikey1]

I remember your original thread Gumbo.

In all insurance there is always the eliment of couldnt care because they have insurance etc its not just caravans.

Insurance underwtriting comes from a huge pot so not only caravan insurance but house,car building and the list goes on,so to say that because of caravan insurance claims your insurance goes up is nonsense,its a much much bigger picture.

The floods a few years ago and 9 11 are to name a few cases which everybody is paying for with whatever insurance they hold.

Gold secure storage sites are around

 

[Gumbo]

"and

 

[Dustydog]

Hi Mikey

The Financial Ombudsman Service dealt with 82 caravan insurance complaints to the year ended 31.03.2009. The previous year there were 64 complaints.

In general the Ombudsman last year found in favour of the Complainant on 60% of the reported cases. Not very good and shame about the ones who didn't complain because they didn't know how!

If Gumbo's project survives the next 5 years with no claims then I hate to say it he will have the last laugh on us. However for the moment , like you , I pay

 

[Mikey1]

True but you never know my shares might go up in 5 years as well?

 

[Gumbo]

off topic but I sold my shares 4 years ago !!!

Ask yourself one question, why did someone a long time ago decide to start an Insurance company ??

 

[Mikey1]

To make money!

 

[RogerP]

Am I missing something here.

On the face of it I can see why you feel that you and the syndicates claim history is so low that the likelihood of you having a total loss is very low.

But have you actually discussed the what if's? I would assume you wouldn't be neieve enough to think it couldn't happen so what if 2 or 3 or even all of you had a total loss in a short period of time. How does this syndicate work. First member gets his

 

[Mikey1]

Sorry i did forget to add that everyone whos starts a company or industry wants to make money why do you think the insurance companies are different?

 

[Dustydog]

When Mr Lloyd first set up Lloyd's in his coffee house it was to spread the risk of all the then merchants sending / receiving goods on the high seas.

Centuries later that is all Gumbo is doing , spreading the risk.

Give him 5 years. It could work out well. I just couldn't stand the risk at the moment so will stick with conventional insurance.

Cheers

Dustydog

 

[Gumbo]

" First member gets his

 

[Mikey1]

You do seem to have a grudge against the insurance industry?

Its not the only industry making profit.

Please let me know when you start on the Petroleum industry?

What are doing about house insurance,holiday etc?

 

[MichaelE]

I admire what you are trying to achieve,but from what i have read your basis to saving money is the facts that not many vans get written off or stolen,which is probably correct?

The risk you dont seem to take into account are accidents which no matter how careful you are do happen all the time?

I have been caravaning now for 12 years and have made 3 claims in that time.

According to your statement i am costing others money,but im careful and do all the things you say in your first statement.

I change my van every 3 years and keep it in secure storage.

So good so far?

My claims my caravan was broken into on a club site resulting in a side being reskinned and a new door and window.

A scaffolding van which sqeezed passed my caravan whilst refuelling ,broken number plate unable to trace,this was very expensive as i had a gouge all down the side of the van everyting was replaced.

Finally a puncture on the A34 this caused considerable damage.

Unlucky maybe but all accidents with your 8 members i do wonder if one is just unlucky how would all feel that they have pay out money because of this?

Do you get into the same situation as you are feeling now that you are paying for someone elses mistakes?