It's that awful letter time

[mlines]

For our boat we got a valuation to set the insurance value. I believe that in the event of a claim there would be a typical valuation argument with the insurers offering low etc. but at least the valuation sets a marker and a point in time from which discussion can take place.

[BruceK]

That's true of mine as well with a survey and valuation done every 3 years (given the boat's age). Nonetheless the surveyor is one of my choosing and cost.

[betty boop]

The pre valuation sounds good but you are up against loss adjusters who's sole purpose is to save the insurance co money and ignore the valuation based on google searches. Reading their performance on our friends engine claim I doubt any would act in our best interest.

I think there is an argument for all the cases in this post, pay more hope you get more, pay less and take a chance. From the claims with larger sized underwriters that Ive had I can say they were settled easily and straight forward based on the repair costs estimated. There is an argument for staying away from small unheard of insurance underwriters which is what I do. In the end there is no bench mark on any company unless you have a claim for full replacement. I dont believe that either underwriters above would pay out on anything other than their guesstimate if you claim BUT having seen the classic car policy payouts on my brothers classic Roller I may be wrong. Not sure I want find out either way

[argonaut]

Took my best found price to my original insurers ... and they beat it ..... that is so annoying, if they had give me a £60 better price in first place wouldn't have looked anywhere else.

At least I saved more than 20% on renewal.

[betty boop]

Took my best found price to my original insurers ... and they beat it ..... that is so annoying, if they had give me a £60 better price in first place wouldn't have looked anywhere else.

At least I saved more than 20% on renewal.

Im guessing you've never worked in insurance industry/sales? the step daughter works for the UK's largest independent brokers, young drivers, motor homes and bikes, classics, (not boats unfortunately). Simple process- the phone rings they answer it, they get a price on the software thingy, the agent then adds whatever 'extra' onto the premium they feel will be accepted by the punter, if they say no its reduced until they get a sale. usually this is by the question of 'whats your best quote so far?'. If you watched Channel 4's under cover doc about Flight Centre a few months ago you'll recognise the same practice is used in airfare quotes.

the added amount is PURE mark up on the product based on the stupidity of the punter, agent gets a sale and commission % off the extra charged.

Other adds come from, your ethnic background, (ur deemed more at risk to make a fraud claim), age, car, location, attitude, politeness, forum membership (n I kid you not) etc etc etc........

IF you accept the first price on insurance you are asking to be ripped off, ESPECIALLY from brokers. industry wide practice Being an know it all I knew some of this already but even my eyes have been opened to the practice of mark ups and ways they refuse claims based on things like bad spelling, wrong paint colour etc.

[betty boop]

Took my best found price to my original insurers ... and they beat it ..... that is so annoying, if they had give me a £60 better price in first place wouldn't have looked anywhere else.

At least I saved more than 20% on renewal.

Im guessing you've never worked in insurance industry/sales? the step daughter works for the UK's largest independent brokers, young drivers, motor homes and bikes, classics, (not boats unfortunately). Simple process- the phone rings they answer it, they get a price on the software thingy, the agent then adds whatever 'extra' onto the premium they feel will be accepted by the punter, if they say no its reduced until they get a sale. usually this is by the question of 'whats your best quote so far?'. If you watched Channel 4's under cover doc about Flight Centre a few months ago you'll recognise the same practice is used in airfare quotes.

the added amount is PURE mark up on the product based on the stupidity of the punter, agent gets a sale and commission % off the extra charged.

Other adds come from, your ethnic background, (ur deemed more at risk to make a fraud claim), age, car, location, attitude, politeness, forum membership (n I kid you not) etc etc etc........

IF you accept the first price on insurance you are asking to be ripped off, ESPECIALLY from brokers. industry wide practice Being an know it all I knew some of this already but even my eyes have been opened to the practice of mark ups and ways they refuse claims based on things like bad spelling, wrong paint colour etc.