As you will be aware, it is a legal requirement that you insure your motor vehicle for a minimum of third party cover unless the vehicle is kept off the public road system and has been declared SORN (Statutory Off Road Notification). Fortunately, there are dozens of providers of such cover but it is rather concerning to hear that, according to the Financial Ombudsman Service (FOS), the number of complaints it receives relating to car and motorcycle insurance policies rose significantly in the second quarter of 2023 when compared with the same quarter last year.
The number of car/motorcycle insurance complaints received by the Financial Ombudsman Service in the second quarter of 2023/2024 amounted to 4,036 whereas in the second quarter of 2022/2023 there were 2,729 such complaints. As you can see, that is a very big increase and is a little concerning.
Complaints related to a number of different issues. For instance, vehicle valuation disputes, claim settlement delays and issues relating to customer service. Having to claim on your car insurance policy is a potentially stressful time. You are having to deal with so many things such as the accident itself, the inconvenience caused by the accident, having to contact your car insurance provider, possibly getting your car to the car repairer, possibly having to arrange a hire car, collecting the vehicle once it is repaired, having to report the accident to your insurance company and may be faced with seeing the cost of your motor insurance increase at renewal due in part to having to claim on your policy.
When considering whom to arrange your car insurance with it is worth bearing in mind that the decision should perhaps not just be based upon price. Another consideration is the reputation that the car insurance company has when it comes to dealing with claims. Do they react promptly and have a high percentage of claims that they meet?
So, when it comes to deciding which insurance company to arrange your car insurance with why not do some research and due diligence.
