Insurance costs post high value claim......

Coolcats

Coolcats

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Hello Folks, following a beak in to my home late last year I had a high value vehicle stollen, the insurance company has paid out and all was good.

What I am now finding is that Insurance costs have skyrocketed from around £380 to £3,045.00 for the MoHo despite it being armed to the teeth with Vanbitz Trackers physical security etc. AIB have said LV/Highway do not wish to renew the insurance as I had a claim in 2018 (no fault it was a dent in a car park ) and now out of their 30 underwriting companies only one will insure us.

So what to do, has anyone else had this experience if so which Broker have you used, and do you know what underwriter

Many thanks for your help
 
Last week we had a torrential rainstorm like never seen in 47 years of living in Suffolk. Our garage was flooded and we live at the top of a hill.
My first thought was to make a claim but thinking about it we didn’t because the premiums would go up accordingly. So we just took it on the chin and didn’t bother.
Phil
 
In the 90's we had 3 break ins at our factory over 14 months and even as we introduced progressive increases to security as requested by the insurers they found another way. In the end our premiums went from about a 1000 a year to 14000. Whats more we were told one more break in would render us uninsurable by our broker! They don't have to sell you cake if they choose not to. You will just have to keep searching or take the premium on the nose maybe for one year then someone may soften their view?
 
This is what has happened since insurance companies started using a tick box system rather than employing experienced underwriters with brains and their own discretion. Think banks,and you get the same numpties.

Go to a local broker if you can find one who seems to know their stuff.

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Podney said:
This is what has happened since insurance companies started using a tick box system rather than employing experienced underwriters with brains and their own discretion. Think banks,and you get the same numpties.

Go to a local broker if you can find one who seems to know their stuff.
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That does sound like a plan thank you

I suspect its the sam algorithm some insurance companies use that was just used on A level and GCSE results ;)
 
Thinking about whether to claim for about £1000 worth of repairs to the motorhome caused by a delaminated tyre.

Apart from the fact that they may not pay..................... .but still increase premiums because of an incident..........I'm having second thoughts (also a £250 excess I think.

Those are massive increases....................how much would it need to be before others would claim.
 
Coolcats said:
What I am now finding is that Insurance costs have skyrocketed from around £380 to £3,045.00 for the MoHo despite it being armed to the teeth with Vanbitz Trackers physical security etc. AIB have said LV/Highway do not wish to renew the insurance
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Geographic location has a bearing on premiums. You don't say where you are,............Beirut possibly?
 
Went through a spell and had 4 excavators stolen of sites mainly around Basingstoke area, could not get insurance for about 3 years had to hire machines and pay the 15% uplift on hire rates to cover insurance🙁🙁
Cost me a lot of money for sure.

Can you not put the van in your wife or children’s name and then go down as a named driver? Thanks

Forgot to add, 3 of the excavators had Trackers fitted, no sign of them!!
 
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Coastal Cruiser. said:
Can you not put the van in your wife or children’s name and then go down as a named driver?
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As a named driver you still have to state any claims you have had. Our motorhome(insured in my name) had a windscreen claim which affected my wifes car premium as I was a named driver. Seems the insurance companies will get you any which way!!

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Two claims on Comfort in an 18 month period about 5/6 years ago. Extenuating circumstances, perhaps, but still down to me and not small ones. But, temporary moderate premium increase for a couple of years and have been coming down since. Now cheaper than at the outset. Won't be shopping around this renewal!
 
A passerby was injured by a falling roof tile during the last big storm. She should be compensated - insurance company are looking to deny the claim on 2 counts - the roof was either well maintained and it was 'an act of god' or it wasn't maintained and it was our fault...................... scumbags !
 
When they ask my mate do you have access to other vehicles? What is total yearly mileage ,etc, he doen't tell them he delivers vehicles all over Uk on a daily basis.
Barclaybasher said:
A passerby was injured by a falling roof tile during the last big storm. She should be compensated - insurance company are looking to deny the claim on 2 counts - the roof was either well maintained and it was 'an act of god' or it wasn't maintained and it was our fault...................... scumbags !
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they really are scum in the Uk now , even worse than when I lived there.
 
Coolcats said:
Hello Folks, following a beak in to my home late last year I had a high value vehicle stollen, the insurance company has paid out and all was good.

What I am now finding is that Insurance costs have skyrocketed from around £380 to £3,045.00 for the MoHo despite it being armed to the teeth with Vanbitz Trackers physical security etc. AIB have said LV/Highway do not wish to renew the insurance as I had a claim in 2018 (no fault it was a dent in a car park ) and now out of their 30 underwriting companies only one will insure us.

So what to do, has anyone else had this experience if so which Broker have you used, and do you know what underwriter

Many thanks for your help
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bear in mind that LV/Highway have been bought out by Allianz so their policies have dramatically changed

I recommend that you try a quote from NFU
 
Barclaybasher said:
A passerby was injured by a falling roof tile during the last big storm. She should be compensated - insurance company are looking to deny the claim on 2 counts - the roof was either well maintained and it was 'an act of god' or it wasn't maintained and it was our fault...................... scumbags !
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A mate had exactly the same problem.
Next doors garage roofing felt blew off and landed on his car.
The garage owners insurers said exactly the same thing.
The owner is an elderly lady who only has her pension and he wasn't going to sue her.... So they split the £400 repairs to his car AND repaired the old ladies roof.
The insurers had checked weather conditions that night and said the wind speed never exceed 20mph.....at a weather station 18 miles away.

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JJ said:
I hate insurance companies... money grabbing bandits.

JJ :cool:
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Pretty sure if someone is going to crash into me I would rather they had insurance, also wouldn’t fancy the £400k bill to rebuild my house should it burn down.

Insurance is a complete waste of time😁 Until you need it
 
Insurance companies have always been bookies in suits, and they have you by the short and curlies as you have to insure if you want to drive.

Had someone run into the back of my car last year whilst I was stationary. They hit the towball and trashed their front end (modern car). Only a very minor bumper scratch to mine and as the car was 15 years old, didn't bother with a claim. Third party insurer said not to worry and no need to tell my insurer, but being the honest sort I did. No claim and no blame, but my insurer increased premiums so much I had to take myself off my daughters car ... luckily can drive this TP on my insurance. Explanation from my insurer .. their algorithum predicts that if you are involved in an accident, even if not to blame, you will have a claim fault within 2 years .. told them that I had not had one for the 20 years before that but they won't listen.

Luckily, when I bought the MH, Comfort didn't take the same attitude and had a reasonable premium, bearing in mind I had used my NCD on the 15 year old car.
 
tony_g said:
Two claims on Comfort in an 18 month period about 5/6 years ago. Extenuating circumstances, perhaps, but still down to me and not small ones. But, temporary moderate premium increase for a couple of years and have been coming down since. Now cheaper than at the outset. Won't be shopping around this renewal!
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Yes, Comfort actually reduced my premium this year. Certainly not money grabbing bandits as some would have us believe, plus provide a good service. They are in the business of managing risk and know that we can shop around
 
The Wino said:
Have you thought about storing it in secure storage it will cost but might well reduce the premium down a lot.
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My van was damaged in Feb storm while in 'secure storage' which wouldn't accept any responsibility and my insurance (LV Highway via Safeguard) had to pay out for over £6k of repairs. My premium went up by a whole £40. That was a second claim after one in 2017 for around £3k. I will stay with Safeguard!
 
Spriddler said:
Geographic location has a bearing on premiums. You don't say where you are,............Beirut possibly?
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Good postcode and low crime area, the Broker suggested that if I move house the premium may come down !!!

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Coastal Cruiser. said:
Went through a spell and had 4 excavators stolen of sites mainly around Basingstoke area, could not get insurance for about 3 years had to hire machines and pay the 15% uplift on hire rates to cover insurance🙁🙁
Cost me a lot of money for sure.

Can you not put the van in your wife or children’s name and then go down as a named driver? Thanks

Forgot to add, 3 of the excavators had Trackers fitted, no sign of them!!
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I feel your pain, the burglary actually resulted in multiple vehicles stollen ! As my wife is a named Driver it means the insurance premium would be the same, her car was taken at the same time.
 
Advance Insurance Brokers, based in Wiltshire helped me with some tricky motohome insurance.

Not the same circumstances as yours but still the only outfit I could find, out of many dozens of companies I tried, that could provide the insurance cover I needed. They identified an underwriter to take on the risk and the initial premium was reasonable (under £450 as I recall) and has reduced each of the two following renewals (now under £300).

Everything sorted out by phone, email and post - no visits to the office or face-to-face contact.


Wherever you go, hope you can get some decent cover sorted without breaking the bank. (y)
 
Coolcats said:
Hello Folks, following a beak in to my home late last year I had a high value vehicle stollen, the insurance company has paid out and all was good.

What I am now finding is that Insurance costs have skyrocketed from around £380 to £3,045.00 for the MoHo despite it being armed to the teeth with Vanbitz Trackers physical security etc. AIB have said LV/Highway do not wish to renew the insurance as I had a claim in 2018 (no fault it was a dent in a car park ) and now out of their 30 underwriting companies only one will insure us.

So what to do, has anyone else had this experience if so which Broker have you used, and do you know what underwriter

Many thanks for your help
Click to expand...

Despite all comments, the underwriters attitude does seem a little strange? If youve fitted all the security possible to the motorhome, is it possible they don’t believe your home is secure enough? And the keys could be stolen again maybe?
I’m surprised they won’t tell you more as to why they’re running scared of insuring you again for anything like a realistic premium.
As other have said though, suspect only option is to suck it up for one year and they’ll all come back again next year probably 😟
 
we had a claim 30 years ago when my boy being helpfull to his mum moved a a chair when she was hoovering unfortunately he moved it in front of a gas fire and burnt the front,We claimed and on renewal insurance had doubled.so we shopped around and no one else would insure us because we had a claim within one year
 
mikebeaches said:
Advance Insurance Brokers, based in Wiltshire helped me with some tricky motohome insurance.

Not the same circumstances as yours but still the only outfit I could find, out of many dozens of companies I tried, that could provide the insurance cover I needed. They identified an underwriter to take on the risk and the initial premium was reasonable (under £450 as I recall) and has reduced each of the two following renewals (now under £300).

Everything sorted out by phone, email and post - no visits to the office or face-to-face contact.


Wherever you go, hope you can get some decent cover sorted without breaking the bank. (y)
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Brilliant thank you I will give them a try

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