INSURANCE….is it a scam – MoneySavingExpert.com Forums


Long story short, I have been a safe driver for 7 years and within 2 years I have had two small accidents equating to about £5000 and my vehicle was stolen off my drive last March…salt springs to mind.

The first accident so was so minor, I contacted the Insurance company and told them they were being hoodwinked by the Bodyshop wanting to charge £1900.00 for the repairs, it was reduced to £1500.00

My premium went up from £1200.00 which I have been paying for the last 7 or so years with a £350 excess to a whopping £3600.00 and an excess of £1500.00 this year.

Two days before my insurance was due for renewal a man kindly smashed the rear of my vehicle.

I notified my Insurers and my premium was swiftly promoted to £6000, then after a little discussion (ranting more-like) it was reduced to £4600 which I had to pay.

After paying the £4600, most people I know do not have an amount of money like this in their bank or under their mattress, luckily I my wife paid for it on her credit card.

The following day, ( i am insured now BTW) after more ranting, the broker told me that the third parties insurer had accepted liability.

My No Claims Bonus was reinstated and as a result I would be receiving a refund of about £2200.00….wait for it…. payable 4 to 6 weeks later!!!!

What should have I have done? I was going to call the credit card company and stop the payment but I was fearful of the Broker not insuring me.

I called the broker and tried to explain as to whom should be paying for the £80 interest charge for the monies on my wifes credit card amount.

The Broker said I should have paid by….direct debit…or …..over a payment plan….even more interest… I dont think so, next time I think I will pay in cash and I will be bashing the door down to get it back too.

So how can I get my £80+ back?

If insurers do this with hundreds of policy holders, not only are they making a tidy sum off our pain and suffering in (sort of Clients Accounts) but also the credit card company is making money off our pain and suffering too.

Should I contact the third partys insurer and explain my predicament?

Is this a Legalised scam…..at this end it feels like it



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