It’s hard not to feel insurance is just a big fat scam.

_Brian · 11-10-2019 10:15AM #1

Recently bought a Peugeot Partner van.

Having never held commercial insurance before I was expecting to pay heavily. Indeed the quotes were steep, €1000, €1200 and even one at €2500.

I’m 47, full licence 30 years, full no claims bonus on private policy, no penalty points.

AXA refuses to quote on the basis that I had insufficient driving experience on a commercial policy, didn’t take much notice.

Went with insuremyvan.ie in the end as they gave me fully comp for €460 as they partially mirrored my private policy ncb. Absolutely delighted, it leaves me two vehicles insured fully comp for under €900

I really laughed when my policy documents came out and in fact I’m insured with AXA !

It makes no sense at all to me how they refuse to quote me directly and then cover me via a broker, dirt cheap too.

Fanny Wank · 11-10-2019 07:29PM

So you're "absolutely delighted" with an outcome but feel it's a "scam"?

I'm confused

_Brian · 12-10-2019 10:46AM

Ahh come on...
When I went directly they said I had insufficient experience to even quote me.
Yet through a broker they gave what I thought was a really good price.

How is this the actions of a sane business model, my risk is no more or less because I’m going through a broker.

Fanny Wank · 12-10-2019 10:48AM

The same insurer will have different prices, different conditions etc depending on sales channel.

It's not unique to insurance

Eggs For Dinner · 12-10-2019 11:04AM

Insurers will often want to restrict the intake of policies with a certain profile. To allow them monitor the levels, they will direct these through specific distribution channels with competitive premiums and increase the price through other sources. There will also be a difference in premium depending on the amount od admin that different distribution channels undertake.

Cork Trucker · 12-10-2019 12:24PM

You’re insured through the broker, AXA are just an underwriter who pay out in the event of a claim, they are a separate company from AXA direct, been there done that worn the t-shirt etc

Spent the bones of 15 consecutive years with AXA direct, in recent years I left them due to the price of the quote, ended up with AXA via the AA for half the price, only then was I told the above.

Eggs For Dinner · 12-10-2019 01:36PM

AXA are the insurers in both cases, not underwriters.

Cork Trucker · 12-10-2019 02:16PM

Eggs For Dinner wrote: »

AXA are the insurers in both cases, not underwriters.

Just saying what the AA told me. Don’t shoot the messenger

It’s hard not to feel insurance is just a big fat scam.

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