Strange Broker Stance

Richard10002

Richard10002

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I've just about decided to stay with Mardon Marine/Axe, but decided to see if I could get the premium down by taking a higher excess.

Current Renewal premium £885 Excess £500

I asked what the premium would be for excesses of £600, £700 and £750.

Reply was that a senior underwriter at the broker has said that whatever the excess, they wont quote any cheaper... seems crazy that they didnt/wouldnt refer the query to the underwriters at Axa.

I stated that if I was offering to reduce their risk, they should be willing to reduce the premium.... No!

Think I'll send them an email

Cheers

Richard
 
Much as I consider that Insurance Companies and their Brokers are just out for our money, there is some logic in their stance.

I think that boats suffer plenty of minor knocks that cost less than £500 to fix, and do not result in claims. At the other end there are claims for serious accidents that cost thousands to fix or result in total loss. I doubt that there are very many actual claims made where the damage is between £500 and £750, in which case there will be little or no scope to reduce the premium.
 
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Much as I consider that Insurance Companies and their Brokers are just out for our money, there is some logic in their stance.

I think that boats suffer plenty of minor knocks that cost less than £500 to fix, and do not result in claims. At the other end there are claims for serious accidents that cost thousands to fix or result in total loss. I doubt that there are very many actual claims made where the damage is between £500 and £750, in which case there will be little or no scope to reduce the premium.

[/ QUOTE ]

Norman,

I dont disagree with you, I wasnt necessarily upset with the answer, but with the "brush off" attitude with which it was given. I half expected the kind of answer you have given.... but I felt completely brushed off. I now begin to wonder how much effort the broker will make in representing me if I ever have to make a claim.

For the very reasons that you give, there must be a level of excess where the premium would reduce so, given that an underwriter at the brokers was involved, I would have expected either an explanation along your lines, along with an excess which would reduce the premium, or a chat with the underwriter.

I'll be talking to Pantaenius in the morning.

Cheers

Richard
 
I couldn't agree more. I am always pissed off by that sort of "jobsworth" attitude.

My own insurance is through K C Powell & Partners, and they came well recommended when I bought my boat and needed to find an insurer.
 
Why not go the other way and agree an excess of £100 if the excess does not impact on the premium?

On a more serious note life is too short, your the one getting the most out of life, not the jobsworth, so have another beer and drift gently downstream..................
 
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Why not go the other way and agree an excess of £100 if the excess does not impact on the premium?

On a more serious note life is too short, your the one getting the most out of life, not the jobsworth, so have another beer and drift gently downstream..................

[/ QUOTE ]

I agree that life is too short, but I am of an age when I enjoy the occasional rant.

The reason for the post was because someone posted a few days ago that increasing the excess would reduce the premium... I did a search, couldnt find the thread, so opened a new one.

Cheers

Richard
 
Another recomendation for KC Powell & Ptnrs. They always seem to understand yachts & yachtsman's foibles.
However I have just got my renewal notification for this year & they tell me that in future my insurance will be taken over by GJW Direct.
I had a fairly hefty claim last year, which was dealt with quickly & fairly by the underwriters Groves John & Westrup. At the time I didn't make the connection to GJW. Presumably they have been involved for some time.
Based on their dealing with my claim I hope they will be as good as K C Powell have been.
 
Well...... No response to my email from Mardon so I carried out my threat and am insured with the mighty Pantaenius.

I think it's what I wanted to do from the beginning of this years research, so I'm kind of glad that Mardon showed the chink in their armour.

I've paid a bit more, but am sure I've got better cover and relative value for money. Hope I dont have to find out if they live up to their reputation, but will post if I do.
 
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I had a fairly hefty claim last year, which was dealt with quickly & fairly by the underwriters Groves
John & Westrup. At the time I didn't make the connection to GJW. Presumably they have been involved for some time

[/ QUOTE ]

/forums/images/graemlins/laugh.gif You could say that yes!
 
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