Insurance discounts

[buell1203]

For many years I insured with footman James and took advantage of the vmcc and velocette owners club discounts.

This year my policy increased to £151 which I decided to accept.

I was about to pay when I was asked if I still hold velo club membership. I advised that I was now a vjmc member. Imagine my surprise when they recalculated and increased the quote by 51.

It appears they give different discounts to different clubs. Of course this is not disclosed.

I suggest that if insurance discount is important to you then join a club which attracts a good discount.

Following challenge they reluctantly told me that clubs affiliated to the vmcc attract the maximum discount. Any others do not. Believe me,it was not easy to gain this information!

Footman James did not get my business on this occasion.

[MickeyMoto]

Funnily enough, I have just renewed my insurance. Last year I insured my Laverda RGS with FJ and I added a Morini 500 in the Autumn. I added a Kanguro this month. Renewal? Plus 80%. This is with Laverda Club discount. I got a quote from Aunty Carole and it was 25% cheaper. I have renewed with Peter James, 60% cheaper, but had to use Laverda Club as Morini Club not on the list. All came with Continental breakdown insurance.

HTH,

Mike.

[morinipete]

Why didn't you say you were a MRC member ? We have full discount with Footman James, the same level as VMCC, PLUS the club gets a percentasge !

[buell1203]

Because I am not a Marc member

[MickeyMoto]

Why didn't you say you were a MRC member ? We have full discount with Footman James, the same level as VMCC, PLUS the club gets a percentasge !

Didn't think to do it, to be honest. I was registered with another owners club so didn't think it would make a difference. Didn't realise that MRC got a cut, either. Too late now, but perhaps MRC should be talking to Peter James, too? The more choice the better. The policies tend to be with the same insurance companies anyway.

Maybe a reminder in the club mag would help?

Mike.

[morinipete]

Hi yup, I negotiated the deal originally. There is nothing saying we couldn't try with some one esle, but then there's no reason for Footman James to continue giving the discount or a percentage of the take either I guess. Arthur Farrow is dealing with insurance issues at present, as he does for the Track Day, so if he's watching he might be able to comment. Unfortunately these does seem no reward for loyalty these days.

Pete

[MickeyMoto]

Hi Pete,

I agree about loyalty. But why the huge difference in premiums for the same product? I would love to keep the same insurer, but do not want to pay double for the same product.

Unfortunately, in the internet age we are all being told to shop around even for gas and electricity....

Mike.

[morinipete]

No, no, I was implying there is no reward for loyality coming from there side (i.e keeping long term customers premims down). I set it up, and am with them at present, but will also go elsewhere if its cheaper. Actually it must be due in a month or so !

[buell1203]

I am glad that my post is creating discussion. I warned fj that I intended to publicise the matter. I was a customer for 15 yrs but have not renewed my policy as a result of the situation.

I would query the full discount claim. What does that mean? Fj confirm they negotiate differing rates.they are a business after all.

This being the case,how can any club know what the other gets in discount? Unless of course the administrator has a foot in both camps.

I was at Stafford today and was going to discuss the matter further with fj..but there is really no point. They do not need my custom.

[EVguru]

I dumped Footmam James on grounds of both premium and customer service. I have a lot of bikes on 'laid up' cover and they made a big fuss about that and modified bikes. I went to Peter James and got the same helpful friendly service I used to get when Peter was part of FJ.

I still had my everyday car with FJ and satyed with them becuase the renewal came through at a reasonable level, but this year it went from £304 to £750. I can only imagine that they've written a lot of bad policies recently and have been punished by their underwriters (Insurance brokers have an NCB too!).

[MarkB]

Peter James gives me an MRC discount, and a very good price anyway.

I think the general rule is to shop around and talk to a human being: I've always managed to get a better quote than online. One thing to consider is that insurance companies specialising in classic bikes/old nails will understand the way our bikes tend to be used and reflect this in the policy: agreed value and salvage rights, transport to and display at shows, comprehensive breakdown cover etc.

If you haven't got a proper agreed value for your bike(s), talk to your broker and do it now. I've heard some terrible stories of derisory 'market value' sums being given after someone's pride and joy was written off.

[buell1203]

In fairness to fj I have always had good service..until they were taken over. At that stage they instigated charges for card payment..debit as well as credit,but not for cheques.

I initially refused to pay the charge but was held to ransom. I did challenge the fee and was eventually fed lies as to it reflecting the cost of card transactions passed on to them. I made enquiries which disproved the statement. They are making a profit on card payments too. The odd thing is that there are no charges for cheques,which cost more to process.

When renewing they waive the fees. Totally bizarre yet indicative of penny pinching profiteering on their behalf. But then we must expect this as they Are a business after all.

As for Agreed value.my bikes do not warrant it.the most valuable is circa 3k. I do not regard my morini as valuable.
I really do not care as long as I have the cover I want at the price I want to pay. My feeling is that even the best will try to wriggle out of claims. All I want is third party really but they have made it hard to find,comprehensive being the norm..and cheaper.

[dsamways]

I've just dumped FJ after twenty odd years on and off. Policy getting more expensive each year, poxy expensive phone numbers that put money in their pockets, charges for using a debit card. I think that since Aeon have taken them over they've got rather greedy - my neighbour is in charge of them and the next time I see him will point all this out.

CN are much better but my best quote came from Peter James Insurance - £151 with FJ, £130 CN, £100 with PJ. They don't have an automated switchboard, and only charge ten quid or so to add another bike.

[buzby]

I renewed my insurance today with Peter James, two Morinis plus two other old bikes -£75 bargain and very good service.

[buell1203]

Glad to see I am not the only one angry with footman James,

I hope their representatives read this. Customer opinion can bring about change.