Caravan Club Non Insurance Policy
757 replies
replied on 11/11/2019 20:09
Posted on 11/11/2019 20:02 by OneputtHaven’t read anything on this thread that would convince me to cancel my policy. No response required
Posted on 11/11/2019 20:09
Not intending that any body should be scared Just finding ideas for an Insurer which I have. It is unlikely to present a problem OP but having had to fight for what in today's money was North of £5K I would sooner let an ombudsman handle any possible dispute.
I then went on to explain why
replied on 11/11/2019 20:13
replied on 11/11/2019 20:30
replied on 11/11/2019 20:35
Posted on 11/11/2019 20:13 byRecognise this
I’m considering cancelling my cc insurance and looking elsewhere to give me a comfort feeling. I’d rather lose a few quid cancellation fee rather then end up potentially losing my house and seeking bankruptcy.
I have ask Ro to get the Insurance Champion, remember them, to enter into this discussion 🐷🐖🐖 perhaps they will fly
Posted on 11/11/2019 20:35
I am sure that they would give a carefully crafted statement. Never rely on a salesman to tell you how good his product is I am sure that they would not lie but would chose to omit any detail that might put perspective purchasers off. A bit like caravan salesmen
davetommo replied on 11/11/2019 20:45
Posted on 11/11/2019 20:30 byFor Caravans they (LV) are regulated by Prudential Regulation Authority (PRA) about whom I know little.
For Cars regulated by Financial Ombudsman
Like all financial product provides they are also regulated by FCA
Posted on 11/11/2019 20:45
I have been insured with them for over 30 years had 2 claims no problem. One was when I got home from a week away the side of the caravan had about 20 small dents in the side. I had no idea how they came to be there. They paid no problem even though I couldn’t explain.
replied on 11/11/2019 20:52
Posted on 11/11/2019 20:30 byFor Caravans they (LV) are regulated by Prudential Regulation Authority (PRA) about whom I know little.
For Cars regulated by Financial Ombudsman
Like all financial product provides they are also regulated by FCA
Posted on 11/11/2019 20:52
According to Wikipedia: Prudential regulation is a type of financial regulation that requires financial firms to control risks and hold adequate capital as defined by capital requirements, liquidity requirements, by the imposition of concentration risk (or large exposures) limits, and by related reporting and public disclosure requirements ...
From the link below it seems that there role with insurance is principally to ensure that a firm maintains sufficient assets to meet claims. Presumably CMC is covered by their Group insurance as I don't think that they list PRA as a regulator
replied on 11/11/2019 20:56
Posted on 11/11/2019 20:45 by davetommoI have been insured with them for over 30 years had 2 claims no problem. One was when I got home from a week away the side of the caravan had about 20 small dents in the side. I had no idea how they came to be there. They paid no problem even though I couldn’t explain.
