LV INSURANCE ON OCEAN.

chindit · Oct 8, 2022

hi all. just insured my cali ocean with lv this morning after being with admiral. similar prices but after reading reviews i thought lv would know this is a camper .not the case.i insured on line and it came up listed as vw california 4 motion. afterwards i noticed a thread on here where they had to change the documents fron lv as it did not mention camper or motorhome. my cali says motorhome in the log book.the concerning thing is i phoned to mention they had not mention motorhome on the docs. it turns out they had not realised it was a camper and charged me another 11 pounds to change it to motorhome on the policy.is it me being paranoid and would they just settle for a vw t30 in event of a claim. regards.

WelshGas · Oct 8, 2022

chindit said:
hi all. just insured my cali ocean with lv this morning after being with admiral. similar prices but after reading reviews i thought lv would know this is a camper .not the case.i insured on line and it came up listed as vw california 4 motion. afterwards i noticed a thread on here where they had to change the documents fron lv as it did not mention camper or motorhome. my cali says motorhome in the log book.the concerning thing is i phoned to mention they had not mention motorhome on the docs. it turns out they had not realised it was a camper and charged me another 11 pounds to change it to motorhome on the policy.is it me being paranoid and would they just settle for a vw t30 in event of a claim. regards.

Probably.

chindit · Oct 8, 2022

WelshGas said:
Probably.

thanks but paranoid or paid out on van.regards.

66tim99 · Oct 8, 2022

I insured my Ocean with LV because of the low price and a good home insurance claim experience. But I called them because some on here had doubts LV knew what they were insuring. I ran them through 'camping accident'-type questions and had no doubt they knew what they were insuring - that conversation is recorded. When the policy documents came through coving a 'VW Motorcaravan 2.0 litre' I was happy.
Strange you told them it was an Ocean (drop down box?) and it registered it as a T30. Worth paying the extra £11 in my view, to correct that and avoid any dispute if you have a camping accident.

chindit · Oct 8, 2022

66tim99 said:
I insured my Ocean with LV because of the low price and a good home insurance claim experience. But I called them because some on here had doubts LV knew what they were insuring. I ran them through 'camping accident'-type questions and had no doubt they knew what they were insuring - that conversation is recorded. When the policy documents came through coving a 'VW Motorcaravan 2.0 litre' I was happy.
Strange you told them it was an Ocean (drop down box?) and it registered it as a T30. Worth paying the extra £11 in my view, to correct that and avoid any dispute if you have a camping accident.

absolutely.have since seen a thread from elmo3 similar experience. vehicle description should be enough for them to realise its a camper.the first policy said vw california t30 tdi 150 bmt 4 motion.and when i phoned to check they thought it was a van.

66tim99 · Oct 8, 2022

I'm looking forward to a 60% no claims discount next month. Seems too good to be true...we'll see

Perfectos · Oct 8, 2022

66tim99 said:
I'm looking forward to a 60% no claims discount next month. Seems too good to be true...we'll see

60% NCD = what ever premium the underwriter wants to ask for !

i have had Max NCD for years and years, (15+)
in real terms it makes no difference at renewal, you get told what your premium is or you go elsewhere.
if you ask how your premium is calculated, the OP will not have a clue, they read the script in font on them, I.e what your annual premium is.

dspuk · Oct 8, 2022

Did you type this on a Nokia 3310?

66tim99 · Oct 9, 2022

Perfectos said:
60% NCD = what ever premium the underwriter wants to ask for !

i have had Max NCD for years and years, (15+)
in real terms it makes no difference at renewal, you get told what your premium is or you go elsewhere.
if you ask how your premium is calculated, the OP will not have a clue, they read the script in font on them, I.e what your annual premium is.

Fair enough.
I naively assumed it would be 40% of last years premium (plus a bit -ok a lot - of inflation)
We shall see!

66tim99 · Oct 9, 2022

Perfectos said:
60% NCD = what ever premium the underwriter wants to ask for !

i have had Max NCD for years and years, (15+)
in real terms it makes no difference at renewal, you get told what your premium is or you go elsewhere.
if you ask how your premium is calculated, the OP will not have a clue, they read the script in font on them, I.e what your annual premium is.

Wow, well, on the button the renewal came through and its gone UP!
Nothing on there to state why, and just a note saying 1 year NCD earned. No idea about the %discount actually applied.
As you say the operator was clueless, just said "its all confidential underwriter information, probably the location you live in has got riskier or something..."
Back to Comparethemarket.com

Perfectos · Oct 9, 2022

66tim99 said:
Wow, well, on the button the renewal came through and its gone UP!
Nothing on there to state why, and just a note saying 1 year NCD earned. No idea about the %discount actually applied.
As you say the operator was clueless, just said "its all confidential underwriter information, probably the location you live in has got riskier or something..."
Back to Comparethemarket.com

It’s a level of BS that you as a member of the public are not allowed to know The Rhyme or reason or formula.
a good friend of mine used to work in the global insurance Underwriting Business.
underwriters control the insurance markets, set premiums and criteria, an underwriter will / can / does set a premium that they think will be paid by the “market”, not necessarily what is comparable, accountable Or one that can be interrogated by Joe public !
If that logic followed your premium would reduce each year (which it doesn’t, below a certain level) for a claim free year, living in exactly the same house / street, increased security measures etc, etc.
You are expected to pay your share of an overall risk (bet) taken on by the underwriter, whom, if it comes right earns ££££ and justifies their extreme bonus, if not they increase everyones premium to make up a loss (To justify their existence).

jonr71 · Oct 10, 2022

This is from my LV insurance policy letter. I highlighted the interesting clarification regarding Protected No Claims Discount. So they are saying that you will still retain the % discount but they will increase the price of the policy even if you are not at fault. So no claims discount appears to have little real value. I briefly worked at an insurance office (30+ years ago) providing motor quotes on a very early computerised system. Back then, the NCD discount amount was a quoted line item, those days are gone. Now you get the price they want you to pay.

66tim99 · Oct 10, 2022

jonr71 said:
View attachment 100339This is from my LV insurance policy letter. I highlighted the interesting clarification regarding Protected No Claims Discount. So they are saying that you will still retain the % discount but they will increase the price of the policy even if you are not at fault. So no claims discount appears to have little real value. I briefly worked at an insurance office (30+ years ago) providing motor quotes on a very early computerised system. Back then, the NCD discount amount was a quoted line item, those days are gone. Now you get the price they want you to pay.

Yes I spoke to LV who when asked why after a year of no claims, and despite the bumf (which you include above) saying on average 60% discount after 1 year, why my premium has gone up, said that in order to entice new customers they apply an NCD in year one of ‘customers who fit the profile’. He said had I claimed in the first year, I may have been surprised to see my premium more than double this year.
So the reason my premium went up (only by £2 in the end) was because I was on a discounted premium in year one to entice me to insure with LV.
All well and good, LV were much less expensive than others, but my gripe is with their transparency. The maths behind the quote is unavailable to not only me, but also the call handlers.

Perfectos · Oct 10, 2022

Smoke and mirrors by insurers,

the first year incentive should have been scrapped under imposed market regulation, but due to the lack of transparency it probably still exists.

the simple fact is the underwriter knows you legally require insurance for a vehicle, if you go elsewhere they will still achieve their market quota by adjusting the premium for someone else ( they don’t want too much risk / business, just the right amount, it’s a numbers game )

Stow · Oct 14, 2022

This isn't the place to ask if you are being paranoid. Someone will be along to point out all manner of hell unleashed on your van by means you would never have imaginef. Mice chewing you wires and rewiring you the grid etc. If you're happy with what LV say then go with that. Plenty have been here. Plenty fit in the former category. You won't get a definitive answer.
Ps. I use LV. I'm still alive.

Johnny Rocket · Oct 15, 2022

Hear, hear

brooodie · Oct 15, 2022

Just had my renewal from LV through, a 25% jump from last year! However looking on comparison sites the cheapest I was offered was over a grand (Boom? Never heard of them), way higher than LV so really have no option but to renew. I called them up and they knocked another 30 quid off but still over a hundred quid increase

Paul_W · Oct 16, 2022

chindit said:
hi all. just insured my cali ocean with lv this morning after being with admiral. similar prices but after reading reviews i thought lv would know this is a camper .not the case.i insured on line and it came up listed as vw california 4 motion. afterwards i noticed a thread on here where they had to change the documents fron lv as it did not mention camper or motorhome. my cali says motorhome in the log book.the concerning thing is i phoned to mention they had not mention motorhome on the docs. it turns out they had not realised it was a camper and charged me another 11 pounds to change it to motorhome on the policy.is it me being paranoid and would they just settle for a vw t30 in event of a claim. regards.

I can’t be bothered reading all the responses, if you entered your number plate details at the start of the quote and it came back as the correct model then they have no reason to decline any future claims. If their systems have issues and they don’t really know what they’re insuring that’s their problem but they can’t refuse claims. We swapped to Admiral this year, googled various scenarios but they have articles specifically mentioning factory built Campervans are acceptable whereas self builds have to be insured as vans. We’ve saved 100’s this year and if we have any issues with claims we know the route that will get them dealt with. The ombudsman will always come down on the side of the customers, I know from many years working in the industry. I understand some people aren’t comfortable with this and I fully appreciate this, go with what you’re happy with. At the end of the day you have to feel secure in your choices but I’m happy to take on a fight when I know we’ll win

GrumpyGranddad · Oct 18, 2022

My renewal is due next month. Fully Comprehensive, 2 drivers, Max NCD.

Comfort, my existing insurer, has quoted £510.05 to renew. LV has quoted me £272.83. That’s a massive delta of £237.22!

Think i’ll go with LV after a bit more due diligence.