rabbitstew Posted March 7, 2012 Share Posted March 7, 2012 http://www.guardian.co.uk/business/2012 ... nal-injury Admiral insurance makes £300m profit this year. Speaks for itself really.... Quote Link to comment Share on other sites More sharing options...
Chris`I Posted March 7, 2012 Share Posted March 7, 2012 The problem is they are very clever with it, and for me at least, still the cheapest out there. Love to take my business elsewhere, but I suspect they will be getting another years premium from me Off to buy some shares Quote Link to comment Share on other sites More sharing options...
Ekona Posted March 7, 2012 Share Posted March 7, 2012 And yet, AdmiEleBell are still miles cheaper than any of the other insurance companies. Given the size of the business and the risk they have to take with regards to claims, I don't think £300M is excessive really. Quote Link to comment Share on other sites More sharing options...
Stew Posted March 7, 2012 Share Posted March 7, 2012 And yet, AdmiEleBell are still miles cheaper than any of the other insurance companies. Given the size of the business and the risk they have to take with regards to claims, I don't think £300M is excessive really. Me either. Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted March 7, 2012 Author Share Posted March 7, 2012 Well their chief did say it was a disappointing result. Quote Link to comment Share on other sites More sharing options...
yankeesiter Posted March 7, 2012 Share Posted March 7, 2012 And yet, AdmiEleBell are still miles cheaper than any of the other insurance companies. Given the size of the business and the risk they have to take with regards to claims, I don't think £300M is excessive really. Yes but will they pay out when it comes to yours? The views of 319 people: http://www.reviewcentre.com/reviews11381.html Quote Link to comment Share on other sites More sharing options...
daveparkin Posted March 7, 2012 Share Posted March 7, 2012 Seriously cheap insurance with them for me, too - less than half the price of my renewal with the big red telephone brand! Amusingly, my insurance is now a large chunk cheaper than my road tax, even with business use and 10k miles p/a........ Quote Link to comment Share on other sites More sharing options...
Chesterfield Posted March 7, 2012 Share Posted March 7, 2012 Given that their pre-tax profit from what I can see is over 30% of their turnover, then I actually do think it is excessive. Thats one massive margin they have in their insurance products. As I said many months ago, they can spin all this guff all day long about fraudulent claims, accident management companies, and injury claims. One quick look at their books shows you exactly where these huge insurance increases are coming from. Its also interesting to note that when buying a policy from Admiral, you get through to a very friendly knowledgeable centre in Wales. Try making changes to policies, like I have recently and you get through to an offshore call centre that has zero product knowledge, zero understanding of the issue and in my case expected me to know exactly what changes a particular factory fitted option called the "x-pack" on a ford Kuga, added to the standard vehicle. I will be leaving Admiral even if it costs me more at the end of the current policy as I cannot be bothered to waste my time with offshore call centres, and in the days when our economy needs all the jobs and income it can possibly get, I shall be specifically moving to a company that has NO offshore call centres. Quote Link to comment Share on other sites More sharing options...
Chris`I Posted March 7, 2012 Share Posted March 7, 2012 Yes but will they pay out when it comes to yours? They did when the missus damaged the roof of her Ibiza. They were pretty faultless TBH, set us up to take the car to the garage a few days after making the claim, got us a courtesy car which was pretty decent, and didnt have any sort of questioning, they just got the work done for us. I was very supprised. Same can be said when someone drove into my car while it was parked. Went through Admirals legal team and they got it all sorted pretty quickly. They also have follow-the-sun call centres, so you really can end up half way around the world depending on when you've called them. During the day it will be Wales, dinner time it will usually be Canada and any other time it will be India (which you should definately avoid!). I think the only people I would leave them for is a specialist broker if I needed something special on the insurance or some kind of setup that they couldnt cover. Its shocking how much money they are making, but competition just doesnt seem to be there in the market to drive the prices down Quote Link to comment Share on other sites More sharing options...
Ekona Posted March 7, 2012 Share Posted March 7, 2012 And yet, AdmiEleBell are still miles cheaper than any of the other insurance companies. Given the size of the business and the risk they have to take with regards to claims, I don't think £300M is excessive really. Yes but will they pay out when it comes to yours? The views of 319 people: http://www.reviewcentre.com/reviews11381.html They'll definitely not pay out if I have an accident, as I'm not insured with them Switched to Sky this year as I preferred a tailored policy to a generic one, even if it cost me a bit more. I don't trust a single one of those review sites, regardless of whether it's for insurance, household appliances, or Metacritic for games. People only go there with a specific purpose which is to complain, so they only ever give the bad side. No-one wakes up in the morning and thinks, "Wow, I had great service! I'm going to go find a review site and tell the world!". I'll ask on forums and get genuine replies, rather than people with the hump and an axe to grind. Quote Link to comment Share on other sites More sharing options...
Gudzy Posted March 7, 2012 Share Posted March 7, 2012 I'm going to give the specialists a try next time round as I'll be 25. Admiral have a limit of 6 modifications which I've now reached so I can't get an uprev done if I stay with them. Quote Link to comment Share on other sites More sharing options...
Vik54 Posted March 7, 2012 Share Posted March 7, 2012 I can't fault them so far - consistently cheapest and even cheaper when I don't accept the renewal and then ask for new quote. Although they are still ploughing away with that biker from last year - my only grumble was when Gary squashed Saffy's nose it was me that lost my no claims not him as it was on my part of the multi-car policy - that really p*ssed me off but it also reminded me to read the small print in future Chris - I get what you mean about the offshore call centres but I recently had to make some changes and simply tried a couple of times until the sytem put me through to Wales (granted this was after taking 20 minutes to explain to India that I wanted to add business class onto the Astra and then getting cut off ) Quote Link to comment Share on other sites More sharing options...
Chris`I Posted March 7, 2012 Share Posted March 7, 2012 Having worked with off-shore teams for the last few years, I've become quite adept at speaking to Indians now. What I learnt last time is call when I am at work, and if I cant get them understand, get one of the off-shore resources we currently have on-shore to do the translation Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted March 7, 2012 Share Posted March 7, 2012 I'm going to give the specialists a try next time round as I'll be 25. Admiral have a limit of 6 modifications which I've now reached so I can't get an uprev done if I stay with them. If the D1 throtlle controller is one of the 6 then you won't need it after an upRev Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted March 7, 2012 Author Share Posted March 7, 2012 Having worked with off-shore teams for the last few years, I've become quite adept at speaking to Indians now. What I learnt last time is call when I am at work, and if I cant get them understand, get one of the off-shore resources we currently have on-shore to do the translation Thats a cracking idea actually. I have 2 similar resources workin for me atm and I didnt think about using them for this purpose... [makes note!] Quote Link to comment Share on other sites More sharing options...
Gudzy Posted March 7, 2012 Share Posted March 7, 2012 I'm going to give the specialists a try next time round as I'll be 25. Admiral have a limit of 6 modifications which I've now reached so I can't get an uprev done if I stay with them. If the D1 throtlle controller is one of the 6 then you won't need it after an upRev Unfortunately not, the list is: Exhaust Air filter Body kit Window tints Alloy wheels Exterior decorative changes (roof, boot and wing mirrors are painted black, led brake lights and debadged) I think elephant or bell might allow more so come renewal I can just go to them if one of the specialists can't sort me out with something better. They seem a bit anal with mods in general though so I'd prefer to go elsewhere next time if possible. Quote Link to comment Share on other sites More sharing options...
DoogyRev Posted March 7, 2012 Share Posted March 7, 2012 ..... and this is another reason to feck off to another land. Insurance companies unfortunately have everyone over a barrel.... unless you don't have it, in which cace your sentence will be minimal......... or bugger all P.S...... Never drive without insurance..... thats very, very bad Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.