.

[Sossigpoker]

.

 

[bonny]

I've been with SEIB this past year and have had one claim for about £700. At renewal it has gone up from about £600 a year to just over £1000 a year !
My cob is only 7 this year .
Has anyone else experienced this with them ? That's a huge hike IMO and can't really see how they can justify it.

(I would normally be with NFU but last year they wouldn't give a new policy for my new horse as I'd had so many claims through them )

If you had an insurance company would you put your premium up ?

 

[Rowreach]

Do you have to declare your claims history to a new insurer? If so you are probably a bad risk to them.

 

[Sossigpoker]

If you had an insurance company would you put your premium up ?

By 66%? No I wouldn't!!

 

[Sossigpoker]

.

 

[Sossigpoker]

.

 

[ycbm]

I've been with SEIB this past year and have had one claim for about £700. At renewal it has gone up from about £600 a year to just over £1000 a year !
My cob is only 7 this year .
Has anyone else experienced this with them ? That's a huge hike IMO and can't really see how they can justify it.

(I would normally be with NFU but last year they wouldn't give a new policy for my new horse as I'd had so many claims through them )

You've hit "not a new customer this year any more" increase together with "already got bad claim record" increase, which is probably why it's so much.

 

[Tiddlypom]

I accept that premiums tend to increase every year but a 66% increase on a 7 year old horse insured for the lowest class of use doesn't sound right to me.

As an owner, though, you have said that you have had a lot of claims paid out. So you are a high risk to insure.

Hence premium going up.

 

[Sossigpoker]

.

 

[Rowreach]

I just mentioned that before everyone starts suggesting NFU.
I just wanted to know if it I typical of SEIB to increase the premium so much at renewal.

That’s why I asked if they know your previous claims record, plus you’ve already claimed in your first year.

 

[Sossigpoker]

You've hit "not a new customer this year any more" increase together with "already got bad claim record" increase, which is probably why it's so much.

How would they know about claims for a different horse going back to 2017-19?
In that case I'll go with another insurer and get my new customer discount.

 

[Rowreach]

Obviously NFU knew what claims I'd had with them. Although one of their operators gave me a quote for one horse that went ln to fail the vetting. And when I called for another quote they said I'd had too many claims, so not sure which one of them made an error.

No, I’m asking if you declared your claims history to the new insurer, which I’m assuming you did as you’d have been asked if you’d been refused cover by anyone else.

 

[Tiddlypom]

How would they know about claims for a different horse going back to 2017-19?
In that case I'll go with another insurer and get my new customer discount.

You are required to declare any previous claims, aren't you?

 

[Sossigpoker]

.

 

[Rowreach]

How would they know about claims for a different horse going back to 2017-19?
In that case I'll go with another insurer and get my new customer discount.

It’s irrelevant (to a degree) that it’s a different horse, in much the same way as if you change cars.

 

[Sossigpoker]

No, I’m asking if you declared your claims history to the new insurer, which I’m assuming you did as you’d have been asked if you’d been refused cover by anyone else.

All they asked was for medical records and the horse being new to me there was nothing on the record.

 

[Rowreach]

Previous claims were with NFU not SEIB. SEIB didn't ask at the time of taking out the policy about previous claims.
At this price i might as well go back to NFU and see if enough time has passed from my bog claims with them

I will give SEIB a call next week and ask if they can reduce it and if not I'll just go elsewhere.
NFU didn't increase my premium by anything like this after paying out nearly 20 grand so i do feel this is excessive.

Insurance companies always ask if you’ve been refused cover.

 

[Sossigpoker]

You are required to declare any previous claims, aren't you?

They never asked.

 

[Sossigpoker]

OK I can see this is just going around in circles so I will leave it
If anyone has had a similar price hike with SEIB I'd be interested to know, especially if they lowered it after a phone call.

 

[milliepops]

You are required to declare any previous claims, aren't you?

I had to declare previous claims on other horses when insuring my foal.

OP I think this kind of increase can be normal, i've had a steep increase after a claim in the past. you can try shopping around or reviewing what you need on your cover but I don't think it's that unusual.

 

[Tiddlypom]

(I would normally be with NFU but last year they wouldn't give a new policy for my new horse as I'd had so many claims through them )

So NFU refused you cover? Now that does have to be declared. And after paying out £20k to you previously I'm not surprised they declined cover - they are in the game to make a profit.

I was with SEIB back when I used to insure, and that question (have you ever been refused cover) was always asked.

OP, you may now have deleted the title and your posts, but you have your answer, and your comments in quotes remain.

 

[Sossigpoker]

I had to declare previous claims on other horses when insuring my foal.

OP I think this kind of increase can be normal, i've had a steep increase after a claim in the past. you can try shopping around or reviewing what you need on your cover but I don't think it's that unusual.

NFU never increased my premium by that much even after the years of hell when I had nothing but injuries followed by two horses PTS. Hence why I was a bit surprised.
I've just got quotes elsewhere for about what I've been paying now so I will be moving my business unless SEIB come down a lot.

 

[ycbm]

How would they know about claims for a different horse going back to 2017-19?
In that case I'll go with another insurer and get my new customer discount.

I'm not talking about previous years, though your proposal form will have asked if you had ever been turned down for insurance, to which you should have answered yes and that should have set off alarm bells with them about your claim history.

I'm talking about this year, where they have already paid you more than you have paid them.

 

[ycbm]

.deleted,.answered wrong post.

 

[ownedbyaconnie]

You’re surprised your insurance premium has gone up after you claimed more money from them than you paid to them? Currently you’re a loss to them. They’d be mad not to increase it. The problem is you’re being stung twice, by the removal of new customer discount and then because you claimed.

I also find it v hard to believe they didn’t ask about being rejected for insurance previously. That’s a standard question across all insurance types (car, pet etc).

By all means shops around but I personally wouldn’t have been surprised in your shoes.

 

[Sossigpoker]

I think I'll give NFU another call since they happily paid out nearly 20 grand and my premiums didn't go up by anything like this hike.

 

[bonny]

I think I'll give NFU another call since they happily paid out nearly 20 grand and my premiums didn't go up by anything like this hike.

I doubt they paid it happily !

 

[Lipglosspukka]

Ummm if NFU refused to insure you and you then answered 'NO' when asked by the next insurer if you had ever been refused insurance in the past (which they will most certainly have asked) then isn't that insurance fraud?

 

[[59668]]

SEIB aren't an insurer. They are a broker. So your insurance/quote was never actually with them. They will have placed with the best cover available to you with an insurer. The insurer will be named somewhere on your quote. So they will have shopped around for you to a certain extent.

 

[Sossigpoker]

Ummm if NFU refused to insure you and you then answered 'NO' when asked by the next insurer if you had ever been refused insurance in the past (which they will most certainly have asked) then isn't that insurance fraud?

Actually they didn't refuse me insurance but thanks for your concern.