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Mon 3 Mar 2014 13:15

Any - Old insurer won't insure! - davecooper

I am currently insured through the Post Office. I rang them to change my insurance to cover a new car which is an avarage family saloon, one size up from my current supermini. I was told that the current underwriter would not underwrite the new car! As it is, this is not a problem as I was transferred to AXA who quoted around £30 more than the premium for my previous car which I am more than happy with.

However, although they can't tell me, I would love to know why they would not cover the change of car. I am pretty much Mr average, driving an average car, in my mid 50's, never made a claim or had a point on my licence in 35 years of driving. What could possibly preclude me from getting cover?

Edited by davecooper on 03/03/2014 at 13:18

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Mon 3 Mar 2014 13:37

Any - Old insurer won't insure! - cockle {P}

Strangely enough heard a similar tale at the weekend.

Friend of mine has been in the process of changing cars, he has always driven Jags and changes every three years or so.

This time round he was saying that he had to move down an engine size because he couldn't get insurance on the newer car with the same size engine that he has always driven. His current insurer refused him and even the dealer couldn't find him insurance and he couldn't really seem to find an answer. He also hasn't suddenly had any points or convictions or claims and hasn't passed a landmark birthday or had any change in circumstances such as retired or changed job; just seemed like 'computer says, no'......

He said that his current insurer was quite happy to renew his insurance on his current car but wasn't happy to cover on a new car which was in essence the same vehicle just two and half years younger.......

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Mon 3 Mar 2014 14:27

Any - Old insurer won't insure! - nortones2

I have cover through LV=, and have had for years, but check annually for competitor prices. NFU (a Which favourite) quoted at least twice as much. However, although it may be prudent to get alternative quotes, I'm wary of trawling too much as if there is an "insurance declined" situation, that has to be disclosed in perpetuity, as I understand it.

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Mon 3 Mar 2014 16:17

Any - Old insurer won't insure! - davecooper

Yes, for this reason I am happy for the PO to continue the brokering for me, after all they haven't refused me insurance as such. Insurance companies do seem extremely fickle though.

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Mon 3 Mar 2014 16:59

Any - Old insurer won't insure! - Bromptonaut

The only reason I can think (apart from computer says no) would be if the market for dirvers in the OP's category is so competitive that insurer struggles to profit.

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Mon 3 Mar 2014 17:20

Any - Old insurer won't insure! - Bobbin Threadbare

I've had this - Sheila's Wheels happily insured my MX-5 when I got it, and then doubled the quote when it came to renewal. I have absolutely no idea why, but that's basically sod off in insurer-speak, so I went with another company!

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Mon 3 Mar 2014 17:40

Any - Old insurer won't insure! - dacouch

The Post Office do not actually arrange the Insurance, they provide the brand.

The cover is arranged through BISL (Budget Insurance) who are a broker and it's not that uncommon for them to decline to cover when you change car.

BISL do not have a great reputation

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Tue 4 Mar 2014 08:23

Any - Old insurer won't insure! - davecooper

Thanks for that, I wasn't sure where BISL came into the equation. Apparently I am now with AXA, does this mean I am no longer involved with BISL?

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Tue 4 Mar 2014 15:07

Any - Old insurer won't insure! - Falkirk Bairn

About 15 yrs ago my eldest boy was roughly 25 and insured his Volvo with Aviva (Norwich Union Direct in them days)....changed car to a newish Prelude and they would not cover him.

too young for a powerful 2.2 Vtech engined car.

Went to a local broker who came up trumps -£50 less than the Volvo per year- with????

Norwich Union on a policy only sold via Brokers....same company but different rules going Direct or through a Broker!

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Tue 4 Mar 2014 16:10

Any - Old insurer won't insure! - dacouch

BISL are a broker / agent they're not an Insurer so they place your business with a selected Insurer.

Yes you are still with BISL if you're still going through Post Office

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Tue 4 Mar 2014 17:35

Any - Old insurer won't insure! - Andrew-T

As I understand it, there are only a handful of genuine underwriters 'behind the branding', probably insuring each other.

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