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Post Info TOPIC: PI Insurance


Guru

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Posts: 630
Date:
PI Insurance


 

Morning all

I have just received my PII renewal and they want to nearly double my monthly payments from £8 per month up to £15, just wondered if anyone else has had such a large jump in their payments (no claims made or changes in circumstances)

I am using AXA at the moment and will give them a ring tomorrow, can anyone recommend any other insurance companies and a rough idea of what they charge, or do you think that £15 is reasonable.

Thanks 



-- Edited by Artois on Sunday 21st of October 2018 07:19:49 AM

__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

Status: Offline
Posts: 7120
Date:

Hi Doug
My understanding is the quotes will be based on three main factors, which impact on price:-

- Level of indemnity
- Level of excess (can be £nil)
- Fee income

This is ignoring the usual - claims. Oh and how long in business, qualifications, services being undertaken, involvement in ''tax arrangements'', circumstances giving rise to claims, blur blur blur.

Mine has been essentially the same figure since year one, except for I increased the level of indemnity after year one and into a much higher fee bracket.

I pay less that the new quote you have.  Try Arlington Insurance Services in Bristol. Used to get a discount for being a (paid) member on here, but cant see anything about them on the site now. (I can give you a direct contact if you wish and can recommend them. Supportive if you need them and all that! Allow PMs on your profile and I will bung you an email)

You do have a notifiable change - your ATT pass.







 



-- Edited by Cheshire on Sunday 21st of October 2018 11:42:58 AM

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Joanne  

 

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

 



Master Book-keeper

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Posts: 7120
Date:

Oops, found the page. Why does that always happen after Ive posted?! wink

http://www.bookkeepers.network/



__________________

Joanne  

 

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

 



Guru

Status: Offline
Posts: 630
Date:

 

Morning Joanne

Thanks for that, I will have a look into Zurich.

I have had a quote from a firm called Markel direct for £84 annually which seems very reasonable but I have never heard of them 

Email address is now on my profile as this is the second time you have told me off for not having it biggrin

And just to top it all another email came through from the ICO to say that is up for renewal in December and they are putting their prices up as well, I knew I should have just stayed under the duvet! 

 



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

Status: Offline
Posts: 7120
Date:

Artois wrote:

 

Morning Joanne

Thanks for that, I will have a look into Zurich.

I have had a quote from a firm called Markel direct for £84 annually which seems very reasonable but I have never heard of them 

Email address is now on my profile as this is the second time you have told me off for not having it biggrin

And just to top it all another email came through from the ICO to say that is up for renewal in December and they are putting their prices up as well, I knew I should have just stayed under the duvet! 

 


 Morning Doug

Ha, me tell you orf!!!!!  No!!!!!!   You would know about it if I had.  Although you didnt need to add your full email, just couldve allowed PMs. Anyway I will mail you in a minute.   

Never heard of Markel - can you check around for reviews of how they deal with claims/potential claims as to be thats when they come into their own (any insurance).

Bloody ICO - no surprise there then.  These costs never go down do they and we, the paying public, are just seen as cash cows. We dont actually get ANYTHING for it - bit like MLR fees.   How much has it gone to?   (Im being lazy not looking!).  Suppose someone has to pay for bloody GDPR nonsense, cos thats working aint it (not!)



__________________

Joanne  

 

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

 



Guru

Status: Offline
Posts: 630
Date:

 

Cheers Joanne got the email and will get in touch with them tomorrow but rather than reply to you via email I thought I would keep it on here and hopefully others may join in with any other recommendations and comments.

Totally agree with what you say about the other things, what do we actually get for the increasing fees

ICO, all I ever get is a newsletter what do they actually do for the soon to be £40

MLR, annual fee of £130 plus another £40 for this fit and proper test and still waiting for confirmation of renewal after 7 months

Right back to the study of close companies & transfer of trades, Happy Sunday!

 



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

Status: Offline
Posts: 7120
Date:

Artois wrote:

 

Cheers Joanne got the email and will get in touch with them tomorrow but rather than reply to you via email I thought I would keep it on here and hopefully others may join in with any other recommendations and comments. No probs. Just certain things Im not willing to put on here for the world to see.

Totally agree with what you say about the other things, what do we actually get for the increasing fees

ICO, all I ever get is a newsletter what do they actually do for the soon to be £40      Thanks for the update.

MLR, annual fee of £130 plus another £40 for this fit and proper test and still waiting for confirmation of renewal after 7 months

Right back to the study of close companies & transfer of trades, Happy Sunday!

 


 



__________________

Joanne  

 

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

 

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