Carol Nash what a bunch of criminals

wessie · Jul 3, 2015

Ogmios said:
... is a line i'd expect from a dealer selling a Bike and wanting to haggle.
NOT from a business that employees an Actuary.
Definition of actuary;
a person who compiles and analyses statistics and uses them to calculate insurance risks and premiums.
The keyword being calculate.

How can the insewerance industry be taken seriously when it is a game of horse trading and haggling to get the best deal?

It's quite simple really. The underwriter will offer Carole Nash a price for a service. CNash is merely an intermediary but as a registered company it has a duty to maximise profit for the shareholders. It can charge whatever it likes on top of the base cost. In this case, the sole shareholder is a French mutual so you should feel good about subsidising the insurance and pensions of French farmers.

The onus is on the buyer of the insurance to seek the best deal, not on CNash to provide it. It's no different to choosing whether to buy a new TV from Currys or John Lewis.

donnie · Jul 9, 2015

It's about value for money isn't it. I don't mind paying a bit more than bottom dollar if I think I'll get better service if I ever need to make the call. The trouble is, in my experience, ALL insurance companies take the proverbial by unnecessarily hiking up our premiums at renewal time. I've been with all sorts or companies over the years, Bennetts, Carole Nash, Admiral, Hastings etc... and every year, despite my bike being worth less and me supposedly being less of a risk, they've put my premium up. So, I shop around and get it back down. It's annoying though isn't it. If any of these companies left my premium alone, I'd stick with'em year after year.

Just had the same with my car insurance. Direct Line. Just hiked my premium up by 17%

I've made no claims, no changes other than the car's worth less and I'm a year older. £400. £165 with several other companies so thanks very much but I'll save myself a few quid and go elsewhere. What a waste of everyone's time. Rant over

Fanum · Jul 9, 2015

wessie said:
It's quite simple really. The underwriter will offer Carole Nash a price for a service. CNash is merely an intermediary but as a registered company it has a duty to maximise profit for the shareholders. It can charge whatever it likes on top of the base cost. In this case, the sole shareholder is a French mutual so you should feel good about subsidising the insurance and pensions of French farmers.

The onus is on the buyer of the insurance to seek the best deal, not on CNash to provide it. It's no different to choosing whether to buy a new TV from Currys or John Lewis.

But it does give the hard-of-thinking something to rant about every year

Neil W · Jul 9, 2015

Thing is every time CN gives you a massive hike on renewal quotes I find that if you ring them up and point out you are a loyal customer ,have been with them for years, have not made any claims etc etc, they miraculously give you another requoted figure which is usually within a few pounds of the previous years figure.
Simple and the year they don't will be the year I walk

Ogmios · Jul 9, 2015

Fanum said:
But it does give the hard-of-thinking something to rant about every year

Piss off!

I'm not ...
hard of ...
wossit,
thingy -
wot you said. :pullface

:

JohnnyBoxer · Jul 9, 2015

donnie said:
It's about value for money isn't it. I don't mind paying a bit more than bottom dollar if I think I'll get better service if I ever need to make the call. The trouble is, in my experience, ALL insurance companies take the proverbial by unnecessarily hiking up our premiums at renewal time. I've been with all sorts or companies over the years, Bennetts, Carole Nash, Admiral, Hastings etc... and every year, despite my bike being worth less and me supposedly being less of a risk, they've put my premium up. So, I shop around and get it back down. It's annoying though isn't it. If any of these companies left my premium alone, I'd stick with'em year after year.

Just had the same with my car insurance. Direct Line. Just hiked my premium up by 17% I've made no claims, no changes other than the car's worth less and I'm a year older. £400. £165 with several other companies so thanks very much but I'll save myself a few quid and go elsewhere. What a waste of everyone's time. Rant over

So, why do you think the premium goes up, despite no change to yourself

It's about market appetite for a sector and underwriting risk and the need to balance the books - if a company has a higher loss ratio in any given year - they have to collect more from the existing client base to cover those losses

Simples

Marjie · Jul 10, 2015

rodsharp said:
I totally agree. I have been with CN for years but after the games I had to
Play last year vowed I would not stay this year. My renewal came through 20% higher than last year on auto renewal and when I phoned to stop renewal the guy started the games again and took a lot of very firm instruction from me to stop the game and just cancel the renewal . Just for everyone's benefit I got a cracking deal for 2 bikes, one being a classic, from LV . Pays to shop around , the difference in quotes was quite amazing .

LV seems to be out to attract customers. I changed by house insurance to them & got it for less than half the price quoted by my previous insurer - who then went through that really annoying thing of "we can price match" They don't seem to get it that they should be trying to retain customers- going the other way profits no one

Carol Nash what a bunch of criminals

wessie

Registered user

donnie

Active member

Fanum

Toubab

Neil W

Well-known member

Ogmios

Well-known member

JohnnyBoxer

Well-known member

Marjie

Registered user

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