CGA
Member Since: 03 May 2010
Location: Preferably horrizontal
Posts: 284
  
|
| Gibraltar based Insurance companies. Experiences? |
|
Having done the usual car insurance run around, Iv'e ended up via a broker with an insurance company based in Gibraltar. I wasn't aware of this fact until I received the paperwork. I have already paid for the policy, but it's not started yet and am obviously within the cooling off period.
I'm not sure what to think about this, and was wondering if anyone on here has any experience of any such based companies, particularly in the event of a claim.
Thanks everyone.
Also posted on RRS forum (I went over to the dark Side  ) CGA
|
 5th Apr 2018 4:07 pm |
|
|
galwaygreen
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
  
|
think a lot of them are...tax fiddle I guess....ask them straight..
|
| 5th Apr 2018 4:15 pm |
|
|
CGA
Member Since: 03 May 2010
Location: Preferably horrizontal
Posts: 284
|
You are no doubt correct, my concern is am I likely to have issues in the event of a claim. I may well give my brokers a bell tomorrow and discuss it with them. Would be nice to have others experiences, especially if negative. CGA
|
| 5th Apr 2018 4:24 pm |
|
|
NJSS
Member Since: 06 May 2009
Location: Catherington, Hampshire.
Posts: 10844
|
I have no recent experience.
However you might Google Enterprise Insurance Company which went bust a couple of years ago and Setanta Insurance which collapsed a couple of years earlier.
Good luck, and let us know how you get on please.
NJSS Am I Gammon or Woke ? - I neither know nor care.
2016 Discovery 4 Landmark
2011 Mercedes Benz SL350 (R230)
1973 MG B GT V8 - 3.9L John Eales engine, 5 speed R380 gearbox, since 1975.
1959 MGA roadster - 1.9L Peter Burgess Engine - 5 speed gearbox
Past LRs - Multiple FFRs, Discos & a Series I - some petrol, some diesel,
none Electric or H2 fuel cell - yet.
There are 10 types of people in this world: Those who understand binary, and those who don’t.
|
| 5th Apr 2018 4:26 pm |
|
|
galwaygreen
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
|
think some our stuff is saga and I think they are gib....but with an office in UK and many different things they cover ,would be surprised if they failed you.
agree its a nightmare with insurance..always surprised who belongs to who,or are part of a larger group.
|
| 5th Apr 2018 4:29 pm |
|
|
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
I had GAP insurance with a Gib company. It went bust after only a year of benefit out of three. Never got a penny back. Personally, I would avoid.
|
| 5th Apr 2018 6:30 pm |
|
|
BBDisco3
Member Since: 23 Nov 2008
Location: Cheshire
Posts: 3646
|
You already have doubts about them.
Personally would give them a wide birth 
|
| 5th Apr 2018 6:55 pm |
|
|
maxbasscat
Member Since: 03 Jan 2016
Location: Cambridgeshire
Posts: 1267
  
|
Some will know I did my time in Gibraltar and actually insured my car when I lived in Gib with a UK broker with a base in Spain as it was cheaper and gave me better protection. Bizarrely trying to insure in Gib whilst living there and with Gib based insurance was more expensive and gave me less protection but that was largely a border thing. It is quite easy to research Gib based companies in Gibraltar Companies House basic same law as UK with some differences.
Gib bases its economy on Betting, Tourism, Insurance, Oil bunkering, International lawyers and accountancy practices and other bits (  ) there is not much else, there are no natural resources. Personally I would not be worried insuring with a Gib based company but it is your personal choice. I have to assume they met your brief anyway! D3 2.7 Zermatt silver (not another one)
D3 4.4 V8 Zambezi silver
D3 4.4 V8 Adriatic Blue
D3 2.7 (gone) Tonga Green
D3 4.4 V8 LHD Tonga Green
FFRR TDV8
Defender 300
|
| 5th Apr 2018 6:59 pm |
|
|
CGA
Member Since: 03 May 2010
Location: Preferably horrizontal
Posts: 284
|
Just a quick update; in the end I decided to renew with my current UK insurance provider, I'm just too risk adverse in insurance matters to risk it. Peace of mind is worth a few quid to me.
FYI, the broker was A Plan and I have absolutely no criticism of them and will try with them again next year.
Does look like insurance premiums are on the rise again though.
Thanks again for everybody's input. CGA
|
| 7th Apr 2018 10:45 am |
|
|
galwaygreen
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
|
Insurance premium tax hasn't help....a sneaky  tax.which keeps increasing
|
| 7th Apr 2018 11:11 am |
|
|
galwaygreen
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
|
Insurance premium tax hasn't help....a sneaky tax.which keeps increasing
|
| 7th Apr 2018 11:11 am |
|
|
CGA
Member Since: 03 May 2010
Location: Preferably horrizontal
Posts: 284
|
This is true,a big "thanks" to Gordon!
I hate to think how much I give to the Chancellor with this; 3 cars, Quad, tractor, 2 (expensive dogs), 2 cats, and 2 horses, oh plus house insurance  CGA
|
| 7th Apr 2018 12:42 pm |
|
|
KTM Gordo
Member Since: 18 Jul 2017
Location: St Neots
Posts: 109
|
Oi! Leave me out of this!
Financial regulations allow insurance and other financial services companies to sell their products across the EEA, and you have protection from their failure by the home-state compensation scheme - so in the case of a Gib insurance company, this would be the Gibraltar compensation scheme.
As always, you can check that the company is bona fide on the FCA Register. Gordon
2016 D4 Landmark, Yulong White, SDV6, Ex-JLR Fleet
2013 D4 HSE (Gone! Sold within the forum)
|
| 7th Apr 2018 2:50 pm |
|
|
A-Plan Insurance
Site Sponsor
Member Since: 30 Oct 2013
Location: United Kingdom
Posts: 352
|
Hello!
Glad you'll try us again next year, as mentioned we only deal with UK offices, the insurer mentioned has a Chelmsford UK office and we only deal with them 
Look forward to speaking to you when it comes back around again, and don't forget you can also use us for your Home, Landlords, Bike and Van
Thanks!
Carlie Howden | Specialist Vehicle Insurance
Call us on 01635 874646 for a quotation
|
| 9th Apr 2018 12:22 pm |
|
|
CGA
Member Since: 03 May 2010
Location: Preferably horrizontal
Posts: 284
|
Thanks for that, will do. CGA
|
| 9th Apr 2018 8:35 pm |
|
|
