Insurance Jon Posted January 26, 2006 Report Share Posted January 26, 2006 A lot of brokers in the UK use Shakespear Underwriting Agency as a market to obtain Cheaper premiums for higher risk cases (young drivers, performance cars etc) these policies are underwritten by other insurers, some you will never have heard of! Unfortunately they went into receivership on monday, and some policy holder will be left having to reinsure again and no refund to ofset against it. Check your policies lads to make sure! Link to comment Share on other sites More sharing options...
sayerbloke Posted January 26, 2006 Report Share Posted January 26, 2006 Presumably, anyone caught up in such a situation could join the list of people owed money as a result of them going into receivership? Link to comment Share on other sites More sharing options...
cruiser647 Posted January 26, 2006 Report Share Posted January 26, 2006 Will they get a letter saying so? Hopefully, if they pay by DD, they can cancel it and at least stop paying it. Must say, I alwyas go with a recognised company. Link to comment Share on other sites More sharing options...
Soapsuds Posted January 26, 2006 Report Share Posted January 26, 2006 hhhmmm - i dont have a clue who my classic car policy is with for the Starion. It is through a company called Roadsure..... best check the docs tonight! Link to comment Share on other sites More sharing options...
Mook Posted January 26, 2006 Report Share Posted January 26, 2006 [ QUOTE ] Presumably, anyone caught up in such a situation could join the list of people owed money as a result of them going into receivership? [/ QUOTE ] You'd need to join the queue behnid HM Revenue and Customs and the company's trade creditors... Link to comment Share on other sites More sharing options...
fjfr Posted January 26, 2006 Report Share Posted January 26, 2006 What happens to the people who don't know about this? Are they uninsured & what's the penalty for being uninsured? Link to comment Share on other sites More sharing options...
Insurance Jon Posted January 26, 2006 Author Report Share Posted January 26, 2006 don't know all the facts yet. just got an email letting me know. in theory the govt will back the third paty section of any uk insurance policy, but the own damage section will be void Link to comment Share on other sites More sharing options...
NeilB Posted January 26, 2006 Report Share Posted January 26, 2006 For been uninsured you can have your car took off you and you have two choices. Sign it over and have it crushed, or sign the release form and pay the fee for having it towed away (£100) and then each day it's impounded (£12) and then you have to include VAT on top of that. And you could get a £200 FPN and 6 points on your licence. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now