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The Toyota Landcruiser Owners Club
Landcruiser Club - Dedicated to Toyota Landcruiser, Amazon, Colorado and Prado Owners
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tlocuk
Site Admin
Joined: 29 Apr 2003
Posts: 283
Location: New Forest Border
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 Posted: Mon Jun 07, 2010 22:00 Post subject: What factors affect insurance premiums? |
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| tlocuk wrote: |
... I do know that 2Gether are constantly developing existing schemes and taking on new ones, - quotes like this should become fewer as time goes on however, having worked on computer systems for insurance brokers, I do know that there are loads of factors outside the control of the broker that will have a negative effect on policy quotes - from something as simple as your postcode, to something more complex, such as the sum of a broker's 'risk factors'.
Simon  |
| RADIOTWO wrote: |
| ... Simon your comments on the post code being the reason for high quotes, would that not be the case for any other quotes? |
Not necessarily Steve - no.
Just as there are some underwriters / brokers who specialise in young drivers, others in, say, convicted drink/drivers, etc - there are some that specialise in all sorts of areas, including all kinds of 'high risks', from 'elite' performance cars to postcodes that may otherwise be considered a 'higher than acceptable risk'.
I am not involved in the processes behind 2Gether Insurance in any way at all - so I can't comment on their underwriting decisions - I can only offer an explanation of the processes that are generally behind the underwriting decisions of a broad range of insurance providers.
I'm sure you'll find, if you shop around, there will be some that offer cheaper deals, others more expensive. Watch out though - some of the 'cheaper' deals may not be so cheap if you ever need to make a claim. You need to be sure, when you're comparing prices that you're also comparing 'like-for-like' quotes, including ALL T&C that come with the policy - from compulsary and 'voluntary' excesses to limited mileage restrictions to whether or not free car hire is offered, and more!
I'm sorry to hear that 2Gether don't appear to have worked out for you this time Steve.
Simon 
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RADIOTWO
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Joined: 18 Nov 2005
Posts: 816
Location: GLOSSOP
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| Posted: Tue Jun 08, 2010 9:57 Post subject: |
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| tlocuk wrote: |
| RADIOTWO wrote: |
| ... Simon your comments on the post code being the reason for high quotes, would that not be the case for any other quotes? |
Not necessarily Steve - no.
Just as there are some underwriters / brokers who specialize in young drivers, others in, say, convicted drink/drivers, etc - there are some that specialise in all sorts of areas, including all kinds of 'high risks', from 'elite' performance cars to postcodes that may otherwise be considered a 'higher than acceptable risk'.
I am not involved in the processes behind 2Gether Insurance in any way at all - so I can't comment on their underwriting decisions - I can only offer an explanation of the processes that are generally behind the underwriting decisions of a broad range of insurance providers.
I'm sure you'll find, if you shop around, there will be some that offer cheaper deals, others more expensive. Watch out though - some of the 'cheaper' deals may not be so cheap if you ever need to make a claim. You need to be sure, when you're comparing prices that you're also comparing 'like-for-like' quotes, including ALL T&C that come with the policy - from compulsary and 'voluntary' excesses to limited mileage restrictions to whether or not free car hire is offered, and more!
I'm sorry to hear that 2Gether don't appear to have worked out for you this time Steve.
Simon |
Hi Again
I don't know if you are on commission with this company, but what you are saying is a load of rubbish, as you say some insurance companies specialize in
certain things like young drivers etc, but is that not the point 2gether is supposed to be for 4x4 drivers ! and so should be competitive, but from what has
been said the prices do seem very high.
And yes it is not always the cheapest, but has any one made a claim with out any problems ?
But that made me laugh ! " I'm sorry to hear that 2Gether don't appear to have worked out for you this time"
They have not even contacted me to give me a quote, so I cannot even get chance to evaluate the cover.
Radiotwo |
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tlocuk
Site Admin
Joined: 29 Apr 2003
Posts: 283
Location: New Forest Border
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| Posted: Tue Jun 08, 2010 10:44 Post subject: |
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Hi Steve ...
| RADIOTWO wrote: |
| I don't know if you are on commission with this company |
Yes - 2Gether Insurance and other brokers listed do offer financial support to the Club(s), but they don't 'own' nor 'run' the Clubs - and neither do I make up lies in order to support them. 
| RADIOTWO wrote: |
| ... but what you are saying is a load of rubbish |
No - it's not a 'load of rubbish', it's a statement of fact.
| RADIOTWO wrote: |
| ... as you say some insurance companies specialize in certain things like young drivers etc, but is that not the point |
Yes - it is the point.
There are companies out there that specialize in specific 'risks' ... take LV for example - it's a LONG time since I worked there, invovled with designing and implementing their insurance underwriting systems, but it used to be (and still could for all I know) that, if you didn't match their 'ideal profile', then the premiums were ridiculous - basically, because they'd rather you took your business elsewhere - NOT that I'm suggesting this is currently the case, nor that any other broker currently works this way 
| RADIOTWO wrote: |
| ... 2gether is supposed to be for 4x4 drivers ! |
Oops! Wrong again! - 2Gether are not 'supposed to be for 4x4 drivers' - that is to say, they are NOT a dedicated 4x4 motor insurance broker - 2Gether Insurance are an FSA regulated insurance / financial services company who, amongst their BROAD portfolio ALSO offer some fantastic 4x4 motor insurance deals.
Yes - they DO have a LOT of experience with the 4x4 market - but that's not ALL that they do!
| RADIOTWO wrote: |
| ... and so should be competitive, but from what has been said the prices do seem very high. |
The trouble with the 'British Way' is, when people are happy about something, they are a million times less likely to provide feedback than somebody who is unhappy about it ... which is, I suspect, why the feedback rating is so positive, but the handfull of feedback comments are not so positive - something doesn't add up.
I don't believe that you are correct in your ascertion that 2Gether's prices 'seem very high' - sure - a couple of people have provided feedback saying that THEIR quote came in too high but, to date, 85% of votes say that 2Gether Insurance are either Very Good or Excellent!
| RADIOTWO wrote: |
| ... And yes it is not always the cheapest, but has any one made a claim with out any problems ? |
We're insured with 2Gether - now - something to keep in mind ... 2Gether Insurance provide motor insurance as a 'broker', (a sales service if you like), and while they will help if you ever have a problem, it's the underwriter that provides the claims service. We had to make a claim when some idiot reversed into us - it wasn't without a few problems - entirely down to the 3rd party refusing to admit responsibility, but it all worked out fine in the end.
I guess the point is, has anybody with VERY cheap insurance ever made a claim without ANY problems?
| RADIOTWO wrote: |
... But that made me laugh ! " I'm sorry to hear that 2Gether don't appear to have worked out for you this time"
They have not even contacted me to give me a quote, so I cannot even get chance to evaluate the cover.
Radiotwo |
I've kept this dialogue in the 'Insurance section' but have split this part of it off from this 'rate the insurer' thread - it won't be lost but, as you say - so far, you "cannot even get chance to evaluate the cover"
Simon
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If you're not living life on the edge, you're taking up too much room!
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