READ THIS before you use consider using Adrian Flux!
I have an Alfa Romeo engined 'special'. I have owned it for over 20 years with no accidents / claims /convictions. It has been insured through Adrian Flux for the last couple of years.
Last week I received a letter from AF dated 29/1/13, the relevant passage:
"We note from our records that your current employment status has been confirmed to us as retired. To check the information we hold on file is correct, please could we ask that you contact us ..... within 10 days...."
I rang on 31st January & confirmed my employment status as retired. I am 47; through hard work and saving (and a bit of luck, obviously) I was able to retire at 39. I was told by the 'consultant' that this was not acceptable to them and that I would have to pay an additional premium or my cover would be stopped!
I queried this: My point(s) being that I am not working through choice and am not seeking employment (and hopefully will never have to work again!). Furthermore I am not not claiming any benefits (so am not unemployed etc) as I am living on my own means. I think retirement is the correct way to describe my employment status (from the options on the proposal form). When I took out the policy I explained exactly how my employment position arose. This has not been a problem for other forms of insurance (car/house etc) or in previous years being insured through AF. I worked and saved up enough not to have to work again - what better definition of retirement is there? It might be 'early' retirement but retirement it is.
I would further argue that not my working through choice 'retirement' from an insurance actuarial position makes me a good risk: I am not driving to work, I am able to stay at home during the day (which is obviously good for security) and my pace of life/stress etc has obviously slowed down.
The 'consultant' told me that unless I was in receipt of an old age pension I was not 'retired'. I argue(d) that you can be in receipt of an old age pension and not be retired! (lots of soldiers receive a pension at 40 and still work, sometimes in (insurance) high risk professions such as journalists/actors etc).
OK there maybe some (ageist!) argument why 'retirement' does not apply but she wouldn't explain. She just said that she would calculate an extra premium.
Ten minutes later she said that the extra premium for the year would be about £80. My total premium for the year was just about £135 so that is a pretty big markup!
And this is where the plot sickens........
My policy runs from 28 February 2012 to a renewal date of 28 February 2013. I said no way am I paying a further £80 for cover of less than 1 month. "I understand your point I'll work it out pro-rata" and came up with the figure of £24 odd.
She said she would write and confirm the amount (I am waiting for this) and that unless I paid it my cover would be stopped.
As I see it, today is the 7th of February and my policy has just 21 days to run. I dispute both the very application of enforced change to my employment status and the amount being charged. A £24odd (pro-rata) additional premium for 21 days cover annualised over the year would be an additional premium of £417!! (calculated £24 (premium) divided by 21 (days left on policy) multiplied by 365)
My car is currently off the road (I use it summers only) so other than fire theft etc I am unlikely to make a claim (and certainly not an on the road risk) so I would ask that AF look into this matter. If AF wish to increase my premium next year then fine (I can go elsewhere) but I do object to my premium being increased retrospectively.
I worry that if AF do cancel my policy I will be black listed by the insurance industry. If this matter is not resolved I will have to take it further - with the ombudsman.
Customer ref. 45102709/09