Gludy
Active member
Just received a letter from my insurance broker seeking a 25% premium increase.
It is all explained by the fact that such an increase is needed because of the EC regulation demanding a minimum 3rd party liability of £1.2m up from £200k – a huge 6 fold increase.
I phoned my broker and pointed out that all my policies for the last 4 years have been based on a £2m 3rd party liability and indeed the Marina demand this – so how come, despite yet another no claim year, I face a 25% increase because the 3rd party liability has been increased to a lower level than I am insured at anyway!!!!
She said that was the reason given by the insurance company!!!! She then said maybe they have to get money in to pay for the other policies where the insurance went up from 200k to £1.2m !!!!
I have informed the broker that there is simply no logic behind the reasoning – those policy holders who have to increase their liability insurance 6 fold should pay for their insurance, not me!!!!
I am told the logic, or lack of it, comes from haven Knox-Johnson.
So I challenge them to answer in public, on this forum, why they are putting out this reason as the premium increase to my policy that has always carried a £2m third party cover?
It is all explained by the fact that such an increase is needed because of the EC regulation demanding a minimum 3rd party liability of £1.2m up from £200k – a huge 6 fold increase.
I phoned my broker and pointed out that all my policies for the last 4 years have been based on a £2m 3rd party liability and indeed the Marina demand this – so how come, despite yet another no claim year, I face a 25% increase because the 3rd party liability has been increased to a lower level than I am insured at anyway!!!!
She said that was the reason given by the insurance company!!!! She then said maybe they have to get money in to pay for the other policies where the insurance went up from 200k to £1.2m !!!!
I have informed the broker that there is simply no logic behind the reasoning – those policy holders who have to increase their liability insurance 6 fold should pay for their insurance, not me!!!!
I am told the logic, or lack of it, comes from haven Knox-Johnson.
So I challenge them to answer in public, on this forum, why they are putting out this reason as the premium increase to my policy that has always carried a £2m third party cover?