I live in an area of Central London where street parking is a fact of life. Last year a negligent driver performed a u-turn and collided with a Deliveroo motorcyclist. Thankfully no one was hurt badly, although my nearby parked car bore the full impact of the careering motorcycle. My insurer, Zurich Insurance Company, finally organised and settled the £400 repairs after endless reminders over several weeks. This is an insurer whose CEO, Tim Bailey, trumpeted his firm’s support services on winning an Insurance Times Claims Achievement Award “for keeping customers at the heart of what we do”. That message seems to have escaped his underwriting and pricing teams. The renewal offer landed this week with a 10% increase and a nearly two-fold increase in the deductible to £750 due to the “overnight parking location of the vehicle”. The car has been parked, as have prior owned cars in the exact same street for 2,000 night previously without any damage! Tell me reinsurance or loss costs have risen fair enough to justify premium rises but not a one-in-a-million loss caused by a third party…
