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spring3r |
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 spring3r Two Stroke Sniffer
Joined: 21 Feb 2007 Karma :   
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 Posted: 15:55 - 02 Oct 2009 Post subject: www.beware-bennetts-insurance-cancellation-policy.co.uk |
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FerretFing |
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 FerretFing World Chat Champion

Joined: 11 Nov 2007 Karma :  
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 Posted: 16:21 - 02 Oct 2009 Post subject: |
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Swinton recently tried to bum me too - was only 2 months into a fully paid up policy for a year - they wanted £50 cancellation fee which would`ve ended up costing me overall!(the amount for the year was £68 to start with - yes I`m old ). I told them to sod off basically & I was paying nothing! I said let the policy lapse as we won`t be making a claim etc - the bike had been sold on. Cheeky fuckers!  |
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Gordy85 |
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 Gordy85 Nitrous Nuisance
Joined: 31 Jul 2009 Karma :    
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Ste |
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 Ste Not Work Safe

Joined: 01 Sep 2002 Karma :    
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bunglehaze |
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 bunglehaze Brolly Dolly

Joined: 12 Oct 2006 Karma :  
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 Posted: 17:08 - 02 Oct 2009 Post subject: |
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Yeah but bennetts are particularly bad. I had a bike for 2 months which I upgraded because the gearbox went, they could not offer me anywhere close to my best premium on the new bike so I cancelled. Out of the £400 I got £60 back, the rest 'apparently' were admin fees and the like.
Robbing Tw@ts!
leigh  ____________________ https://bikechatter.net
Motorcycle Products Reviews and News
06 - ZZR600 > 07 - ZX6R J1 > 08 - ZX6R J2 > 09 - ZX636 A1P > 11 - ZX10R C1H |
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BenR |
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 BenR World Chat Champion

Joined: 23 Jun 2008 Karma :   
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theopj |
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 theopj Scooby Slapper

Joined: 23 Sep 2006 Karma :     
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bazza |
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 bazza World Chat Champion
Joined: 27 Aug 2004 Karma :  
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iooi |
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 iooi Super Spammer

Joined: 14 Jan 2007 Karma :    
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theopj |
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 theopj Scooby Slapper

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arry |
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 arry Super Spammer
Joined: 03 Jan 2009 Karma :    
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ms51ves3 |
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 ms51ves3 Super Spammer

Joined: 07 Jun 2007 Karma :     
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Kwaks |
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 Kwaks I'm not a fast rider

Joined: 28 Jan 2006 Karma :  
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 Posted: 09:22 - 03 Oct 2009 Post subject: |
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If Bennetts are so bad at charging admin fees when you cancel a policy then why would YOU cancel it?
If Bennets cancelled it, for instance if they discovered you no longer had an insurable interest in the bike (ie sold it) then surely no fee will apply?
They cannot offer insurance on the terms above, therefore surely they need to terminate the policy? However cancellation fees will not apply as you have not actually asked them to cancel ____________________ Fallen Angel "Nae sniffing my seat now!!!!! "
www.cliqueycuntsmcc.co.uk
I AM NOT A FAST RIDER!!!!!!!!! |
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arry |
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 arry Super Spammer
Joined: 03 Jan 2009 Karma :    
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The Shaggy D.A. |
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 The Shaggy D.A. Super Spammer

Joined: 12 Sep 2008 Karma :  
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 Posted: 12:02 - 03 Oct 2009 Post subject: |
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Given the amount of actual admin time taken to cancel a policy, I'd bat an eyelid at anything over a fiver. The muppets answering the phone and putting the tick in the box are probably paid what, maybe £7 an hour tops? For 5 minutes actual work, that's about 58p. Add a sheet of A4, envelope, a stamp and the time to print and mail, you've maybe got a whole quid's worth of time and materials. ____________________ Chances are quite high you are not in my Monkeysphere, and I don't care about you. Don't take it personally.
Currently : Royal Enfield 350 Meteor
Previously : CB100N > CB250RS > XJ900F > GT550 > GPZ750R/1000RX > AJS M16 > R100RT > Bullet 500 > CB500 > LS650P > Bullet Electra X & YBR125 > Bullet 350 "Superstar" & YBR125 Custom > Royal Enfield Classic 500 Despatch Limited Edition (28 of 200) & CB Two-Fifty Nighthawk > ER5 |
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arry |
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 arry Super Spammer
Joined: 03 Jan 2009 Karma :    
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 Posted: 12:07 - 03 Oct 2009 Post subject: |
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The Shaggy D.A. wrote: | Given the amount of actual admin time taken to cancel a policy, I'd bat an eyelid at anything over a fiver. The muppets answering the phone and putting the tick in the box are probably paid what, maybe £7 an hour tops? For 5 minutes actual work, that's about 58p. Add a sheet of A4, envelope, a stamp and the time to print and mail, you've maybe got a whole quid's worth of time and materials. |
Mmm, well they to have a building to trade from, a telephony system to take calls on, a desk to sit on, a PC to work from, a canteen to eat in, a coffee machine to drink from and an awful lot besides - there's a lot of overheads in any business, insurance broking is no different.
See, previously, before the advent of policy charges at the new business stage (which are sometimes 20 to 30 quid in themselves) I could reasonably understand a broker wanting to at least capture the whole commission for the policy if it were cancelled - when cancelled, the broker has to give back his commission on the unexpired portion of the policy - and obviously 95% of the work for an insurance broker is at new business stage, that's where their costs are, so if you cancel mid term you're actually taking money back off them for a service they've already provided.
However, nowadays with policy set up charges, I don't see it as being valid, TBH, and would agree with you. |
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The Shaggy D.A. |
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 The Shaggy D.A. Super Spammer

Joined: 12 Sep 2008 Karma :  
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 Posted: 12:17 - 03 Oct 2009 Post subject: |
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Any so called "losses" they might incur with a cancellation is already reflected in the amount that is refunded. To charge an extra "admin fee" to carry out a 5 minute (if done slowly) task is just further rape.
[edit] Bennetts is a trading name of BISL Ltd, part of the BGL Group, which consists of 6 companies. Overall, they reported a profit of £43 million, with a growth of 43% in 2007/2008. The Bennetts brand had a 56% increase in profit.
I don't think finding money for their canteen and coffees is a problem. ____________________ Chances are quite high you are not in my Monkeysphere, and I don't care about you. Don't take it personally.
Currently : Royal Enfield 350 Meteor
Previously : CB100N > CB250RS > XJ900F > GT550 > GPZ750R/1000RX > AJS M16 > R100RT > Bullet 500 > CB500 > LS650P > Bullet Electra X & YBR125 > Bullet 350 "Superstar" & YBR125 Custom > Royal Enfield Classic 500 Despatch Limited Edition (28 of 200) & CB Two-Fifty Nighthawk > ER5 |
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Old Thread Alert!
The last post was made 15 years, 231 days ago. Instead of replying here, would creating a new thread be more useful? |
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