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23 May 2018 18:21 by Roberto Star rating in Torremolinos. 4426 posts Send private message

Roberto´s avatar

Not really wanting to get into this soppy argument, but "Hence why I said if they can get away with it, they will" - anyone who disagrees with this statement of the bleedin' obvious, regardless of their own (rare) happy experiences, is frankly just being rather quaintly naive. For the benefit of the OP, since I mentioned trying LInea Directa, I'm happy to confirm that every year (without exception) when my renewal notice comes (at a slightly increased price from the previous year), I ring them up and get a cheaper premium, simply by telling them I'm not happy with the renewal quote. If live long enough, by this method, they should start paying me eventually, as my premiums have decreased every year I've been with them (with no claims, obviously).

But of course, I would never dare suggest that they were trying it on in the first instance cheeky



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24 May 2018 09:12 by Kavanagh Star rating in Oil Drum Lane Newcas.... 577 posts Send private message

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All insurance is now a battle of wits. The insurance company trying to get the maximum premium and the policy holder trying to get the minimum. The same applies when a claim arises with the insurance company looking for any possible get out clause in the 50 page terms and conditions you never read.



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26 May 2018 12:46 by acer Star rating. 1265 posts Send private message

Kavangh, you appear to delight in being contentious, but invariably your comments are devoid of fact.

Do you know of any business sector that does not try to maximise it's price if it can?  You will struggle, that's the way of the world, even good old "Boots the Chemist" seem to be at - the allegations their are extraordinary.  If an insurer did that their licence to operate would be removed by the DTI.

if you look at any insurance companies accounts they actually pay a lot of claims.  In the years gone by of high interest rates their claims payouts often exceeded their underwriting income!   Particularly for those underwriting in the motor insurance sector and also where claims tend to occur in the future such as professional indemnity, decennial, product guarantee etc.

They often work on thin margins, knowing that the interest earnt on premiums paid at the start of the insurance year would subsidise the claims losses incurred.  This strategy enabled them to remain competitive.  Of course currently with interest rates so low it's different - but the impression you give is absurd.

I've never worked for an insurance company, but I've seen and read lots of policies.  Not one has been 50 pages.  The truth is that these days most are written in plain English, but most insureds do not bother to read them!  

Your comment is also shot down in tatters by the Financial Ombudsman service.  They are a highly professional body that do not only ensure fair play they charge the insurers for their services.  So the insurers tend to be cautious about rejecting claims in the first place!

 





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26 May 2018 13:16 by Roberto Star rating in Torremolinos. 4426 posts Send private message

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Don't forget the banks. For an encore, maybe you could go on to praise their trustworthyness and conscientiousness

laugh



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"First get your facts; then you can distort them at your leisure"

Mark Twain

 

 

 




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26 May 2018 14:07 by Kavanagh Star rating in Oil Drum Lane Newcas.... 577 posts Send private message

Kavanagh´s avatar

Financial Ombudsman service

Well acer that’s a new one to me. So Spain have these for insurance, bank guarantees, estate agents deposits or anything else involving money.

Also never heard of "Boots the Chemist" or DTI in Spain. Please enlighten us with your facts.



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ALWAYS BE POLITE & FRIENDLY. PLEASE AVOID ARGUMENTS & CONFRONTATIONS. PLEASE PM ME IF YOU HAVE AN ISSUE. Donate to save the children



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26 May 2018 14:14 by acer Star rating. 1265 posts Send private message

Insurance is very similar throughout Europe and your criticism did not specify Spain.  Of course there will be the equivalent of the DTI also.

I should not have bothered posting, there's a few on EOS who just want to complain





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26 May 2018 14:26 by Kavanagh Star rating in Oil Drum Lane Newcas.... 577 posts Send private message

Kavanagh´s avatar

EOS is an abbreviation for EYE ON SPAIN and that is the purpose of the forum internet site. If you want EYE ON UK you will have to do a google search.

I am not complaining about anything and never have on EOS (SPAIN). All I have ever done is try to state the facts relating to the subject. Sometimes some people don’t want to hear the facts and throw the teddy out of the pram, especially if you are trying to correct someone.

Now try and stick to the thread please.

 


This message was last edited by Kavanagh on 26/05/2018.

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ALWAYS BE POLITE & FRIENDLY. PLEASE AVOID ARGUMENTS & CONFRONTATIONS. PLEASE PM ME IF YOU HAVE AN ISSUE. Donate to save the children



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26 May 2018 17:39 by baz1946 Star rating. 2077 posts Send private message

Fleeced by the insurance spies: Firms are plundering your personal data to work out the maximum they can charge you and rip you off on renewals

  • Money Mail investigation shows insurers spy on money habits and social media
  • Those judged as unlikely to shop around are then hit with higher renewal rates
  • Research suggests customers who don't switch overcharged by £800m a year

 

From the Dail Mail today 26 May 2018


 

 





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