If the single approved insurer offered even a slightly competitive rate, then I don't think there would be as much of an issue. After all, one might reasonably expect that a motoring club would offer a distinct advantage to its members, but from all the many quotes I have seen, the approved insurer is offering quotes at anything from 40% to 100% above the other more commonly used providers.
Too true, we can shop around and so we do, although those new to the marque may go in blind and assume that as it is “MSCC approved” it must be the best around!
However, my concern still rests with the fact that as already commented, insurance is indeed a very competitive industry.
So, if I were an insurance company executive, I would be constantly looking at the competition and try to attract business to my company by offering a product that is as good as, and cheaper than my competitors, and if I can improve profitability, I have done my job well.
In the case of Morgan, I can see that their club approved insurer has rates MUCH higher than me, so looks like I can jack up my rates by 10%/20%/30% and still be competitive. If all insurance companies take a similar stance, (and why not…) then rates would rise for all Morgan owners. Shopping around would still be a competitive process but the bar would have risen to our detriment!
I don't expect everyone to agree, as only time will tell if my view has any substance or not.
