P&L Loophole?

[fishtank]

If you're going to hide things from your insurer you might as well save yourself a few quid and not bother because your insurance is worthless anyway.
They have people whose job it is to find s**t out...and they are very good at it.

[DGP1]

And how does that work,'don't crash' and 'take time ect...' .
Many a safe driver have been involved in an accident due to no fault of their own.
Driving for RM pushes that risk up.

Doesn't push up your risk though, only the blameworthy ones get added to your risk.

[arnold cheshire]

And how does that work,'don't crash' and 'take time ect...' .
Many a safe driver have been involved in an accident due to no fault of their own.
Driving for RM pushes that risk up.

Doesn't push up your risk though, only the blameworthy ones get added to your risk.

if you mention an accident and dont even claim they will put up your renewal price

[TeeferTiger]

If you're going to hide things from your insurer you might as well save yourself a few quid and not bother because your insurance is worthless anyway.
They have people whose job it is to find s**t out...and they are very good at it.

Precisely. It's not worth it. Insurance is about risk. If you want to risk not being covered when the time comes to make a claim then fine, effectively commit fraud by not disclosing information to them when you take the policy out.

[POSTMAN]

And how does that work,'don't crash' and 'take time ect...' .
Many a safe driver have been involved in an accident due to no fault of their own.
Driving for RM pushes that risk up.

Doesn't push up your risk though, only the blameworthy ones get added to your risk.

I'm talking about risk of having an rta,the more you driver the more chances you have,then there's the insurance business.
My point was,you're telling people not to crash when they drive for RM.

Some peeps don't wanna drive for the firm,that's their bag.

For the record,never had a rta in my car,but i had a row with a wall while reversing in a RM van.
And just had a thought,completely forgot to tell my insurance company(100% honest here,never thought about it)but also wasn't reminded when i filled out the rta thing.

[IcanthelpthewayIam]

why tell the insurance company only do gooders do that

So you are actively saying its ok to break the law by committing fraud?

you also say they wont find out, do you know for an absolute certainty that RM do not currently and will not provide the Motor Insurance Bureau with the names of drivers in their accidents? because they do tell their insurance company the details of their drivers, yes at the road side when you have an accident you only provide royal mails address but when the insurance company calling royal mail to make the claim they could get your personal details if they require them

[Lounge Lizard]

why tell the insurance company only do gooders do that

So you are actively saying its ok to break the law by committing fraud?

you also say they wont find out, do you know for an absolute certainty that RM do not currently and will not provide the Motor Insurance Bureau with the names of drivers in their accidents? because they do tell their insurance company the details of their drivers, yes at the road side when you have an accident you only provide royal mails address but when the insurance company calling royal mail to make the claim they could get your personal details if they require them

"because they do tell their insurance company the details of their drivers" - they can't because Royal Mail don't have an insurance company.

[keithposty]

ill appologise if incorrect

royal mail have the biggest insurance broker going, lloyds of london

they pay a bond of i believe 50 million a year. accidents get deducted from this and topped up if the other party pays up

accident management and investigation handle all claims as they just like any other business charge the other parties insurance company fees to addmin any claim

all royal mail vehicles are on the MIB data base and i can confirm the drivers details are recorded by MIB if an accident is reported, blame worthy or not

[IcanthelpthewayIam]

"because they do tell their insurance company the details of their drivers" - they can't because Royal Mail don't have an insurance company.

We do as Keith pinted out have an insurance company as he points out its lloyds of london

ill appologise if incorrect

royal mail have the biggest insurance broker going, lloyds of london

they pay a bond of i believe 50 million a year. accidents get deducted from this and topped up if the other party pays up

accident management and investigation handle all claims as they just like any other business charge the other parties insurance company fees to addmin any claim

all royal mail vehicles are on the MIB data base and i can confirm the drivers details are recorded by MIB if an accident is reported, blame worthy or not :

nearly right keith, we dont pay 50 Million a year into it, its just a pot thats maintained at 50 million which you sorta said anyway

[tiredm]

As far as i can remember when applying for car insurance , the question asked is "Have you made any claims in the last 5 years?".Which is not the same as "Have you had any accidents in the last 5 years?"
So as you're not the one claiming if you have a smash in a RM van, you shouldn't have to declare it.

[POSTMAN]

As far as i can remember when applying for car insurance , the question asked is "Have you made any claims in the last 5 years?".Which is not the same as "Have you had any accidents in the last 5 years?"
So as you're not the one claiming if you have a smash in a RM van, you shouldn't have to declare it.

I 'think' the wordings are usually claims or accidents not 100% though.

Edit: Have you had any motor insurance claims or incidents in the last 5 years?
Just looked.

[TeeferTiger]

As far as i can remember when applying for car insurance , the question asked is "Have you made any claims in the last 5 years?".Which is not the same as "Have you had any accidents in the last 5 years?"
So as you're not the one claiming if you have a smash in a RM van, you shouldn't have to declare it.

I 'think' the wordings are usually claims or accidents not 100% though.

Edit: Have you had any motor insurance claims or incidents in the last 5 years?
Just looked.

You're right, I know this because a) I used to work in insurance and b) I've just added the hubby to the insurance in the past few days and they asked it. So, when I put it in my previous posts, I did it for a reason. Doesn't anyone listen to my ramblings?!

[fishtank]

From the small print of my own insurance policy.

The claims helpline number is printed in your XXXXXXX policy booklet. You should report an accident within 48hrs and you must inform XXXXXXXX of every accident you have, even if you do not wish to make a claim.

It's a contractual obligation.
If i breach the contract obviously my insurance is worthless.

[Lounge Lizard]

"because they do tell their insurance company the details of their drivers" - they can't because Royal Mail don't have an insurance company.

We do as Keith pinted out have an insurance company as he points out its lloyds of london

ill appologise if incorrect

royal mail have the biggest insurance broker going, lloyds of london

they pay a bond of i believe 50 million a year. accidents get deducted from this and topped up if the other party pays up

accident management and investigation handle all claims as they just like any other business charge the other parties insurance company fees to addmin any claim

all royal mail vehicles are on the MIB data base and i can confirm the drivers details are recorded by MIB if an accident is reported, blame worthy or not :

nearly right keith, we dont pay 50 Million a year into it, its just a pot thats maintained at 50 million which you sorta said anyway

I thought it was some sort of bond guaranteeing that any legitimate claims against RM can be paid but I understood they sorted things direct rather than unnecessarily going through an insurance company who would of course take their share of profit which would be quite a sum annually given the tens of thousands of vehicles owned and therefore numerrous claims.

[dubdaz]

I personally don't know why people are having a major problem with driving for RM maybe those who are so against it can explain it to me.

OK here goes.

I've paid low insurance premiums for years because I only do about 4000 miles a year or less. Insurance companys charge people who dont do a lot of mileage less than those who do,because they are LESS likely to have an accident.

Driving for royal mail will dramatically increase my chances of having an accident, which I would have to reveal in the event of one, to MY insurance company.MY insurance company could then, if they saw fit increase MY premiums.

If it was law that you didnt have to inform your own insurance of accidents whilst driving for royal mail I would have no problem whatsoever driving for them.

Don't crash then in all my years driving in RM I've only had one blameworthy (even then I wasn't really to blame because you can't allow for a tree blown down in the middle of the road on a pitch black road) and since then I've slowed right down and am more careful about it. Take the time to drive safely and you won't cause an accident.

I also have never had a blameworthy accident in 25 years of driving,I think I'm a careful driver BUT I would touch a large piece of wood before saying "I wont ever cause an accident because I take the time to drive safely". And I realise the more miles I drive the more likely it is I may have an accident FACT.