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Aug 24th, 2023
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Joined: Mar 2010
Posts: 3,581 Likes: 85
Moderate or good, occasionally poor Talk Morgan Addict
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Moderate or good, occasionally poor Talk Morgan Addict
Joined: Mar 2010
Posts: 3,581 Likes: 85 |
...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. "Why not?" Because that would constitute price-fixing and liable to severe penalties under the Competitions Act (1988), would be my guess.
2011 Morgan 4/4
1932 Austin 7 Chummy
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Joined: Oct 2019
Posts: 5,056 Likes: 318
Charter Member
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Charter Member
Joined: Oct 2019
Posts: 5,056 Likes: 318 |
With G&W you're dealing with people who know Morgans .... check your small print .... most now demand that the car is secured when left even for a while ... ie hood up and doors locked when paying for petrol or stopping for a coffee ... annoying in a central-locking, power-hooded Beemer .... would be utterly tedious in a Mog (tell your insurer your car has no door or bonnet locks ... or maybe even no door-handles at all, with the only security being sliding back an un-locked bit of perspex 🙂) ... G&W square all that with their insurance supplier up front .... doubt many others go beyond the 'one size fits all' small print.
K
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1 member likes this:
CooperMan |
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Joined: Mar 2009
Posts: 3,666 Likes: 43
Talk Morgan Addict
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Talk Morgan Addict
Joined: Mar 2009
Posts: 3,666 Likes: 43 |
This was from last months Miscellany. I've highlighted some interesting bits The new MSCC Insurance scheme with Peter James Insurance has now been live for 3 months.
From the start we have seen a steady flow of requests for quotes and we have achieved a very positive conversion rate to active policies. It is one of the key objectives of this scheme to provide a competitive quote across the entire range of members’ cars. This of course, is a very wide spectrum of vehicles in terms of ages, values (and number of wheels) and presents a challenge in the context of a classic car policy. What this means is that the Brokers (Peter James in our scheme) and their Underwriters have to structure their pricing to reflect that complete profile of the business coming to them.
Over the first few months of the scheme we have received a steady flow of feedback directly from a number members. This feedback, especially when it says ‘you are not competitive’, is extremely helpful to us. Looking at these responses we have been able to see the areas where we have probably not predicted the profile correctly, and then we have been able adjust the scheme to make those areas more competitive. What this has meant is that for some members we have not been able to win their business. We regret that situation, but, we are adjusting and so the scheme will evolve over time. Car Insurance generally is an extremely competitive market and the general advice is that you should always shop around. If we were not able to meet your needs this year then we hope to have an opportunity to quote for you in the future. One incidental impact of the new scheme is that former scheme providers may have felt it prudent to adjust their own rates to retain business, that too is a benefit to members.
As I have said in previous pieces, the commercial incentive and the commercial risk of this scheme lies with Peter James. Providing good value, comprehensive and unique benefits to the maximum number of members is the goal and they are working hard to achieve that. Please continue to provide the feedback (positive as well as negative), it is important. So who is writing this, the club or the insurer? Bluff writing. For instance the bit about incidental benefit of other insurers holding prices..rather unnecessary eh? And the last bit about unique benefits to maximum number. Anyone know of one unique benefit? This is just a weak self justification to disguise what is clearly a simple financial incentive. Incidentally, my insurer readily agreed a valuation based solely on 6 photos emailed by me. No need for a signed by dealer valuation. My insurer does not require the car to be locked or enclosed in any way. Chaps, this is smoke and mirrors by the club. They're just making a commission on each member as is revealed by the one voice representing two different players.
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Joined: Nov 2012
Posts: 251 Likes: 14
Learner Plates Off!
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Learner Plates Off!
Joined: Nov 2012
Posts: 251 Likes: 14 |
Would you mind saying who your insurer is and what you have insured? many thanks
Dave
Blue 4/4 1969, Green +4 1953, (different) Green +8 1977
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Joined: Mar 2009
Posts: 3,666 Likes: 43
Talk Morgan Addict
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Talk Morgan Addict
Joined: Mar 2009
Posts: 3,666 Likes: 43 |
Of course I will.
Just send me the equivalent of a club annual fee and I'll let you have the details as a "unique benefit"!
Only kidding.😀
I have actually already posted the details previously, I think in this thread, But I'll look it up and post it again.
Last edited by nick w; 02/08/24 09:40 PM.
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Joined: Nov 2015
Posts: 7,910 Likes: 242
Just barreling along Talk Morgan Guru
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Just barreling along Talk Morgan Guru
Joined: Nov 2015
Posts: 7,910 Likes: 242 |
...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. "Why not?" Because that would constitute price-fixing and liable to severe penalties under the Competitions Act (1988), would be my guess. Having been involved in commercial supply and purchasing from well before the Act, and still am, trust me it still happens regardless of the law and even most Co's published policies, very occasionally some group will be found out and get a spanking plus a fine, but price fixing, quote sharing and reverse bidding is shockingly prevalent
Jon M
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Joined: Nov 2018
Posts: 6,061 Likes: 160
Talk Morgan Sage
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Talk Morgan Sage
Joined: Nov 2018
Posts: 6,061 Likes: 160 |
This was from last months Miscellany. I've highlighted some interesting bits
t. So who is writing this, the club or the insurer? Bluff writing. For instance the bit about incidental benefit of other insurers holding prices..rather unnecessary eh? And the last bit about unique benefits to maximum number. Anyone know of one unique benefit? This is just a weak self justification to disguise what is clearly a simple financial incentive. Incidentally, my insurer readily agreed a valuation based solely on 6 photos emailed by me. No need for a signed by dealer valuation. My insurer does not require the car to be locked or enclosed in any way. Chaps, this is smoke and mirrors by the club. They're just making a commission on each member as is revealed by the one voice representing two different players. It's on page 9 of last months Miscellany - written by Andy Reeves, who titles himself MSCC Commercial Lead. Thankfully, there is no compulsion for owners to join the MSCC, or to use the Insurance scheme. As Ian said, most clubs have a affiliated/recommended supplier - MGOC is Adrian Flux, MSCC is Peter James, HDRCGB is Footman James. I'm a member of all three clubs, shop around every year, and don't use any of the affiliated schemes.
1972 4/4 4 seater, 1981 MGB GT
1984 Harley Davidson Electra Glide, 1990 Kawasaki ZX10
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Joined: May 2014
Posts: 5,110 Likes: 56
Black Rat Charter Member
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Black Rat Charter Member
Joined: May 2014
Posts: 5,110 Likes: 56 |
This was from last months Miscellany. I've highlighted some interesting bits The new MSCC Insurance scheme with Peter James Insurance has now been live for 3 months.
From the start we have seen a steady flow of requests for quotes and we have achieved a very positive conversion rate to active policies. It is one of the key objectives of this scheme to provide a competitive quote across the entire range of members’ cars. This of course, is a very wide spectrum of vehicles in terms of ages, values (and number of wheels) and presents a challenge in the context of a classic car policy. What this means is that the Brokers (Peter James in our scheme) and their Underwriters have to structure their pricing to reflect that complete profile of the business coming to them.
Over the first few months of the scheme we have received a steady flow of feedback directly from a number members. This feedback, especially when it says ‘you are not competitive’, is extremely helpful to us. Looking at these responses we have been able to see the areas where we have probably not predicted the profile correctly, and then we have been able adjust the scheme to make those areas more competitive. What this has meant is that for some members we have not been able to win their business. We regret that situation, but, we are adjusting and so the scheme will evolve over time. Car Insurance generally is an extremely competitive market and the general advice is that you should always shop around. If we were not able to meet your needs this year then we hope to have an opportunity to quote for you in the future. One incidental impact of the new scheme is that former scheme providers may have felt it prudent to adjust their own rates to retain business, that too is a benefit to members.
As I have said in previous pieces, the commercial incentive and the commercial risk of this scheme lies with Peter James. Providing good value, comprehensive and unique benefits to the maximum number of members is the goal and they are working hard to achieve that. Please continue to provide the feedback (positive as well as negative), it is important. So who is writing this, the club or the insurer? Bluff writing. For instance the bit about incidental benefit of other insurers holding prices..rather unnecessary eh? And the last bit about unique benefits to maximum number. Anyone know of one unique benefit? This is just a weak self justification to disguise what is clearly a simple financial incentive. Incidentally, my insurer readily agreed a valuation based solely on 6 photos emailed by me. No need for a signed by dealer valuation. My insurer does not require the car to be locked or enclosed in any way. Chaps, this is smoke and mirrors by the club. They're just making a commission on each member as is revealed by the one voice representing two different players. Similar thing happened with the travel club. Wish I hadn't just renewed my membership, it will be the last time.
Keith
2013 narrow bodied + 4 Ruby.
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Joined: Jul 2007
Posts: 26,759 Likes: 424
Member of the Inner Circle
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Member of the Inner Circle
Joined: Jul 2007
Posts: 26,759 Likes: 424 |
Well today I got my renewal. Peter James were well below G&W but Admiral were far cheaper.
JohnV6
2022 CX Plus Four
2025 MG ZS EV aka Trigger
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Joined: Aug 2017
Posts: 569 Likes: 17
Talk Morgan Regular
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Talk Morgan Regular
Joined: Aug 2017
Posts: 569 Likes: 17 |
Reading all the above about insurance. I have used G&W since iI brought my MOG in 2002. As i was in the Royal Navy at the time, know one else would insure me due to parking on MOD grounds. Over the past year i Have had to make a couple of claims, due to people reversing into my MOG. The first was a Chelsea Tractor and the other a Ford Transit can. On both occasions my claims were dealt in a first class manner. I literally didn't have to do anything apart from phoning them up. I wouldn't go with anyone else. Recently i had to make a claim for my wife's Tintop when a Learner driver decided to change lanes, whilst i was still in it. The stress to both myself and wife was horrendous.
i do believe it helps when a member of the G&W team drives a MOG!
Navy Dave
1976 Morgan 4/4
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1 member likes this:
Themorganeer |
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