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Online Hartley

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Re: Bennetts beware
« Reply #8 on: April 23, 2019, 08:44:44 PM »
What an absolute disgrace. Like you said, it should have simply been a case of repairing your bike, end of.
We none of us know how the company we entrust to insure our bikes will act should we need to make a claim. That said when reading complaints about insurers the name Bennett’s does appear to come up all to often.

I’m far from an expert in this area but isn’t there also an issue with the actual insurance company itself, Bennett’s is the broker but surely there must be some point where the insurance company itself is involved, I don’t believe you’ve mentioned them Kenny.


Offline kennygratts

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Re: Bennetts beware
« Reply #9 on: April 23, 2019, 09:22:36 PM »
The insurer was Zenith...

But the thing that gets me is I only insured with Bennetts because if you look at their website make a big song and dance about being a specialist motorbike insurer. How they will look after you, yada, yada, yada.

If they were honest and had made it clear were just brokers and that in the event of a claim you would be passed to whatever company they sold your policy too could have made an informed choice as to whether to pay me money and take my chances. But if you look at the Bennetts website they say nothing of the sort!


Offline Yasko

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Re: Bennetts beware
« Reply #10 on: April 23, 2019, 10:07:49 PM »
The brokers duty is to provide you the customer with the right cover having ascertained the risk, with the most suitable insurance company for that risk. The broker will also help you make and manage a claim. However it is the insurance company that will pay out for the claim.

They (the broker) should also be impartial and provide you with the best possible service. Markerstudy has an insurance company business and in the last few years have taken over Chaucer and Zenith. So  they were the underwriters, either trading under Zenith or Markerstudy and are responsible for your claim. So basically there are two possible breaches of duty and care. One with the brokers as I previously stated and one with the underwriters. The latter's possible breach being failure to realise a fair value for the claim, that being the difference between the settlement figure that that you received with great reluctance and the price achieved at the auction.

Category N: Repairable vehicle which has not sustained damage to the structural frame or chassis and the insurer/ self-insured owner has decided not to repair the vehicle. While the damage to the vehicle has been noted as non-structural, there may still be some safety-critical items that require replacement such as steering and suspension parts.

However Category N write-offs tend to be the most contentious – this is where insurers can write off for example cars if they think the repairs are too costly relative to the value of the car. They base their decision on the so-called repair-to-value ratio. For example, if your car is worth £5,000 and the repair-to-value ratio is 60%, the car would be written off if it would cost more than £3,000 to repair. This is only a general base line.

You may believe you have been left with no recourse to complain having cashed the cheque without realising the consequences. Unfortunately this is grey area. The Financial Ombudsman Service expects insurers to be up front about the implications of cashing a cheque so if they were not you would have some recourse. However drivers/riders who do cash in a payment are usually seen as accepting the settlement. If you wish to pursue this it is imperative that you together with all your relevant evidence seek legal advice.

I would be suspicious of collusion between the underwriters, auction house and possibly the assessor but with no independent assessors report (your appointed agent) this could not be proved beyond the balance of probabilities in your favour. 

Insurance companies play on the 'inertia' of customers to increase their profits.
Bill

Offline kennygratts

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Re: Bennetts beware
« Reply #11 on: April 24, 2019, 09:56:13 AM »
Thanks for the help and advise!

At the moment I am going after Bennetts for mis-selling me the policy. Since I have argued to them that I only purchased the policy from them based on the services they offered me from the website. Ie they say...

Unfortunately, accidents do happen and being involved in a collision or having your motorcycle stolen is traumatic enough without having to deal with a complicated, stressful and lengthy claims process. That’s why you’ve chose to insure your motorcycle with Bennetts.

That if they had been more upfront and clear about exactly what services they would provide would not have used them. Since it is clear that they have not delivered on this promise...

In regards to Markerstudy given them all my evidence to show that the bike was not (in my opinion) beyond economic repair. They sent me an itemised list of damage (i.e. replace forks, straightern frame, etc) and asked them to justify why that work needed to be done. Not sure how successful that will be since my word against there's....

Still find it amazing how they can assess a vehicle without having to do any proper mechanical checks (they admitted this and said was common industry practice apparently). It was done via photos and a visual inspection only with the bike itself sitting in an outdoor compound, a large field where it was sitting on uneven ground in a large puddle. Then effectively "massage" the repair costs so that it suddenly becomes uneconomic to repair What a scam.

Also asked Markerstudy to explain why the bike was immediately upon recovery sent to an auction site for assessement. Further why before the assessement was even done they asked for me to send them the V5, MOT certificates and service history for the bike...

As you say maybe I made a mistake in accepting the settlement figure, but in truth I needed to get another bike and had to get myself back on the road. Have ended up getting a low mileage 2012 Honda Deauville NT700, no Crosstourer but the best I could do.




Offline Yasko

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Re: Bennetts beware
« Reply #12 on: April 24, 2019, 10:14:27 AM »
Quote ' They sent me an itemised list of damage (i.e. replace forks, straightern frame, etc)…….'

If the frame was damaged then it was not a Category 'N' as they stated (Category N: Repairable vehicle which has not sustained damage to the structural frame...…..)

Another relevant fact in your favour!!
Bill

Offline kennygratts

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Re: Bennetts beware
« Reply #13 on: April 24, 2019, 10:26:07 AM »
Ah, good point... never even thought of that!!

The strange thing about that itemised list, is that they said (and quote) that it was not a final estimation of the damage and subject to change if a mechancial assessment was ever needed, which it was not since they had deemed it beyond economic repair.

I just could not get them (Markerstudy) to explain how you could assess the mechanical integrity of a vehicle without any inspection being done by a mechanic. All I got was it's industry practice.

So as you say, how do they know if the vehicle was indeed Category N?!!! I only know cause I actually recovered it and checked it out before Markerstudy collected it... from the hotel carpark noless. To statisfy myself that they hadn't caused further damage in transporting it, I even visited it at the car auction site and again was fine apart from broken steering lock and broken pannier locks.

Offline Yasko

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Re: Bennetts beware
« Reply #14 on: April 24, 2019, 12:33:50 PM »
Following further investigation into Markerstudy they make the following statement:

'With a strong presence in the UK motor insurance market, they specialise in niche motor cover, where their solid market knowledge and experience enables them to create highly targeted products for sectors such as: young drivers, high performance/ high value cars, Japanese imports, kit cars, unusual occupations, accident/conviction records, taxis and driving schools - to name but a few.

If you do not fall into one of the foregoing 'niche' categories you may well ask the question why did Bennetts choose them for your insurance cover with regard to their duty of care. One would expect a higher premium for those categories unless of course they do not. In which case they could well make up the shortfall with their dubious handling of claims. 
Bill

Offline kennygratts

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Re: Bennetts beware
« Reply #15 on: April 24, 2019, 01:37:14 PM »
Totally shocking, didn't have us bikers as being niche when you consider how many of us there are!

Especially when you think Bennetts sell themselves as "UK insurance specialists for motorcycles".

Just to show how bad it was, here the piccy of my bike that I took at the Copart auction compound where they took my motorbike for it to be "assessed"...

 


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