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

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  • 11-10-2019 10:15am
    #1
    _Brian
    Registered Users Posts: 18,493 ✭✭✭✭


    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.


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    #2
    Fanny Wank
    Registered Users Posts: 1,288 ✭✭✭Fanny Wank


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

    I'm confused


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    #3
    _Brian
    Registered Users Posts: 18,493 ✭✭✭✭_Brian


    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.


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    #4
    Fanny Wank
    Registered Users Posts: 1,288 ✭✭✭Fanny Wank


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

    It's not unique to insurance


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    #5
    Eggs For Dinner
    Registered Users Posts: 2,944 ✭✭✭Eggs For Dinner


    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.


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    #6
    Cork Trucker
    Closed Accounts Posts: 2,553 ✭✭✭Cork Trucker


    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.


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    #7
    Eggs For Dinner
    Registered Users Posts: 2,944 ✭✭✭Eggs For Dinner


    AXA are the insurers in both cases, not underwriters.


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    #8
    Cork Trucker
    Closed Accounts Posts: 2,553 ✭✭✭Cork Trucker


    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


This discussion has been closed.
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