insurance

[Hodge]

my P/L and Contractors/Employees insurance has just been renewed, last year i paid around £1400 for both, this year its £900?? do these companys just make up what they want to charge or is there a genuine reason for such a massive drop?

[Mark Bolam]

More competition for them now Hodge.

Good news for us!

[pgkevet]

I can't speak for your profession, but in mine it's a combination of what they can screw you for, who is up and coming as competition and whether they've snuck some reductions in cover in there..increased excess and reduction in total cover.

 

We only have 2-3 main players and of them one has traditionally doe their best to defend the professional rather than just pay out 'cos it's cheaper: and they are losing market share just because that approach costs more in premiums.

 

The only time I was ever involved in a claim for personal injury to one of my employees it was an opportunistic suit using an injury away from work and claiming it as a work-lace injury...odd that it took two days from the claimed episode to actually bother the person! Odd that the aggravation happened after they apparently fell from a horse in their own time?

 

Nevertheless when the insurance investigators came down to interview me they started by admitting they were going to lose because the claimant had a better legal team!

 

They put in a claim for 2 million and settled out of court for £64K..less than the legal fees would have been - so much for justice.

[easy-lift guy]

You are correct pgkevet and here in the states some one is always trying to get justice for someone else, that was a joke. As earlier stated supply and demand can effect your rate of insurance other factors include your postal code and general population trends. It could pay to shop around for a new carrier once a year for comparison sake if for no other reason than to keep your $$ in your pocket. Good Hunting.

elg

[monkeyboy]

Hodge;

Who's the quote from if you don't mind me asking?

A colleagues has gone up by 35% and he's after quotes to compare.

 

Thanks

Paul.

[Hodge]

Hodge;

Who's the quote from if you don't mind me asking?

A colleagues has gone up by 35% and he's after quotes to compare.

 

Thanks

Paul.

 

I use Trust, I have been with them for years. I also had a quote off Arbinsure, they were very helpfull and gave a great quote.