Hello John, gotta new motor? Kate talks to Simon Jackson, MD of Policywise in Oakham, about the ins and outs of motor insurance
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HY WOULD YOU go to a waitressing as a secondary occupation, broker for motor insurance particularly if it’s in the evening. when you can go on price ‘Consumers need to be aware when comparison websites and buying on price comparison sites that it’s possibly get a better price? Simon fine to get an idea of the going rate but they enlightened me. must always check the details when they ‘The two most expensive assets people click through to buy, answer the ancillary usually have are their home and car yet they questions and always read what you are often buy insurance on price. People who sent when you purchase. If anything is purchase cover via comparison sites incorrect or you spot terms and often haven’t got the correct conditions you weren’t aware of E YOU R cover and/or they will have then go back to the provider G A conditions/terms on the immediately and give the policy they are unaware of. correct information. ‘With comparison sites the ‘You do have a 14 day customer is given a reduced cooling off period when you set of questions as they just can cancel the policy but you want you to buy as quickly as will be charged for the time on possible and the price is based risk and possibly an admin fee; so on what we call default answers. make sure you get it right before When you ‘click to buy’ you are asked you buy. more questions. Most people don’t answer 'As a broker we find the best policy for them so might not be covered if they have a our clients and go through everything with second job that doesn’t qualify, for example. them and can give advice and Most students work during the holidays. So recommendations under the FCA (Financial being a student is classed as their first Conduct Authority). We know the insurance occupation then a waitress or pizza delivery companies and what they offer and have driver is their second. Many of the main professional indemnity insurance so if we young driver insurers don’t cover do mess up, it’s there if needed. We can
particularly help if a customer is unusual. That could be because of convictions, a poor driving record, a particular occupation or they are a celebrity or sportsperson. A lot of insurance companies won’t touch these people. ‘One of our specialities is young drivers’ insurance. In December 2012 the EU dictated there couldn’t be different pricing for males and females despite all the data saying females cost the industry less. No one would offer the lower price to males so the female prices just went up. ‘I wanted to set up my own brokerage and I came up with a trading style ‘Girls Drive Better’ but how could I prove it? That’s where telematics come in. If you put a black box in the car it will prove that girls do mainly drive better so when it comes to renewal if she has a proven good driving record discounts can be offered. ‘Our device is a solar powered, windscreen device which scores you in blocks of 100 miles, showing all your journeys, how you accelerate, brake, any sudden changes in direction, the time you’ve been driving and speed. It is worse if you do 40mph in a 20mph zone when kids are going to school rather than doing 75mph
38 November 2021 / theactivemag.com
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