SCAM ALERT!

For the last 6 months Trident Insurance has been piloting a social media marketing campaign aimed at carving out a reputation for honest upfront advice and cover that counts within a specific niche audience.

Mainly focused on Facebook, with some support from Twitter, banner adverts and blogs, to date the campaign has proved to give Trident a platform to engage with people about stuff that is a little more sexy than insurance.

The reason for this blog post is, that for the last six months one individual in particular has been niggling away at our social media staff, with a view to trying to catch us out and deliver a quick win for themselves…

Obviously we cant name the person responsible, but I’ve been advised to post this blog by the agency managing our marketing to get the facts out in the open and reinforce our open and honest approach to our business.

Our Facebook competition encourages folk to upload pictures of their interior design and other folk to vote for the one they like the  best.

The project kicked off in September 2011. We were relying heavily on the viral nature of Facebook to promote the competition (i.e. someone posts, others see, others follow, they post and so on). 

We have now built up some solid momentum on the campaign with interior designers, DIY enthusiasts and Joe public uploading and engaging. Initially the competition was due to end in March. We all decided (Trident, our partners and our agency) that it would not only be best for Trident but also give more people more chance to win, if we extended the competition until April.

The response to our extension was positive across the board. I decided we should invest a little more in the promotion of the completion to give it the best chance of success (I bought more banners, encouraged more blog posts etc. – and we recently took half a dozen expert interior bloggers out for a dinner in Soho, great fun and great contacts)…. Before kicking in the extra spend, we awarded the submission with the most votes at that stage with £250 Ikea vouchers.

It now appears, after continual questioning, that my agency has been able to bring our troublesome follower to a head. At this point the person informed us they were a lawyer, were going to take us to court and offered us the ability to settle immediately if we sent them a £7,000 cheque.

We are not going to pay out, cave in to bullying or blackmail or shut down a fantastic competition with an opportunity for more people to win and get involved.

I have spent ten years building this business and our reputation as open, honest and upfront. And this blog post is about nipping this in the bud, being honest and standing up for what I believe in.

Coverage is Key

We all believe that transparency is of benefit to everyone until of course we don’t want to be so transparent, as some things may be inconveniently embarrassing. 

Insurance companies are no saints but the one thing they are up against more than anything is fraud, from the point of questions being answered when someone is seeking cover to when a claim comes through.

When you think of all that insurance covers, the incoming numbers are huge but so are the outgoing payments and the net difference although big is nowhere near making the insurance industry show a fabulously rich industry. 

Accepting insurance may be a sector heading there are so many different categories within, and for the huge help and support the Insurance companies can provide they also as I’ve pointed out before have an uncanny knack of shooting themselves in the foot.

As a country we seem to love to knock anything and anyone as a national pastime. But insurance for all its sins does serve a purpose, and will help if you think about what you need.

With many policies crossing over with some cover, it’s pretty stupid to secure the same cover with another standalone policy because you can’t have dual cover to claim twice for the same thing. So you need to decide what really suits best and dump what doesn’t. 

We are seeing new capital rich but cash poor clients all wondering what they should be doing about insurance, and it’s just quite bizarre they have had to look away from their present broker to get the information they need.          

At Trident I will say it over and over we want to make sure you know what you’re paying for and tell you how it is. 

Being predominantly telephone based the need to dress smartly just seems a waste of time. My view is so long as the guys here do a good job, does it matter what they wear, maybe you would like to comment on that if so please let me know. But I have seen little to justify that wearing a suit delivers better service or prices.

We are all customers and here at Trident we have all kinds calling in, but in times like we’re in now everyone whatever scale of the ladder they’re on needs to save money and that’s we’re we come in, with a far wider panel on Insurance companies than the AA. 

We want you to like what we do and let us know if you’re not happy, we want you to come back at the point of renewals and introduce your friends because you like the way we do things here.

We don’t as a company supply life insurance or pensions, you need a separate licence for that but we can put you on to various companies if you wanted.

We’re also going to have photo’s  the members of staff, who aren’t camera shy, shown on our website so you can put a face to the voice.

And whilst March is still some time away….. but not that much, given January seemed to fly by. We will be at the Business 2012 exhibition at the o2 main arena from Sunday 18th – Tuesday 20^th. 

It’s the UK’s biggest business show for Start Ups,  SME’s, and Mid Market companies with guest speakers Lord Alan Sugar and Sir Richard Branson contributing their thoughts on events so you can come and meet us if you’re in town. It should be interesting and for business clients very helpful, and whilst not on the main stage I will be holding some seminars about insurance if you want to come and listen in. 

        

Horror Story of the Month.

We have a professional Client who has been with us for some years and recently bought a £7,000 watch.

That all sounds pretty good BUT he didn’t add it to his contents policy in place by informing us so we would relay the addition to the Insurance company and they may either keep the premium the same or add a bit on to cover the extra risk.

As you know a contents policy will usually ask what value of contents you would be taking out of the home on a regular basis.  Over and above clothes and shoes it might be rings, a bracelet, a watch and necklace or chain with adornments.

That list needs to be declared fully at the policy’s commencement where valuable items are concerned  to ensure protection when being worn outside the home and you guessed it……. he went to the driving range, put his watch down, and never saw it again. We never knew about it until he called and the poor guy’s £7k watch is now a very expensive memory.

All I can say is that it’s a salutary reminder by not making that phone call to add your new gift or purchase to the policy us it really can be an expensive error.

Insurance Sucks... but...

How the hell can I make insurance an interesting subject when headlines keep showing how in some areas Insurance companies and banks have totally pulled the wool over your eyes?

In short, I really don’t think I can, but that doesn’t mean there is nothing to say about how you can work the system better.

In the last few blogs I have tried to enlighten you to the principal that it’s not so much about what you are covered for as what you are not!  

With most things insurance, what you see on the can is not necessarily what’s within, and even yours and my interpretation of the word ‘exclusion’ doesn’t mean quite what we think.

A few examples that show what I mean are as follows:

You claim the item is broken and want a replacement and are told ‘sorry it’s not working because it’s through ‘wear and tear’ so sorry no pay out.

You’re told that you will have a replacement vehicle in the event of an accident, then find out that it’s there for you, but only if one is available’ so sorry head and tails you lose.  

You’re told that the reason for the damage suffered is as a result of an ‘act of God’ so there no pay out.

So when does broken become wear and tear, the certainty of a replacement vehicle- only when one is available- and damage an act of God? The answer is, it really depends on who you are dealing with and how bloody minded they intend on being. 

All I can say is that not all Insurers are the same, and only a cynic would assume they all are. Some will be helpful to the point of knocking you sideways in disbelief and others will just argue the toss until they hope you chuck in the towel. 

So if something goes pear shaped and you need to make a claim, be prepared for the long haul. Accepting that if the claim only equals the value of the excess there’s no point in bothering. You can now buy ‘excess protection’ on numerous things, but that is an extra cost which you may not want to entertain. All I can say is that if you add up the cost of your from all the different policy excesses it really may be worthwhile looking at that again.

Saying that, if you’re just up against a tough nut Insurer, you need to write in and make a formal complaint, they have no more than 8 weeks to reply and if you’re not happy with their response then write to the Financial Ombudsman Service, they really do graft on your behalf and can fine the errant Insurer if they find against them and secure you a fair pay out and sometimes compensation as well.

So my message is, accepting that insurance is something perhaps like marmite that you either like it or hate it. I think where insurance is concerned most don’t see there really can be value to it. But you need to always be on your guard, fight your corner and when all else fails take the Insurance company to the Ombudsman. 

The adverts you see on TV make it all look so easy and it is if you don’t know what you’re doing, but it gets harder when you start to realise what you are paying for, that’s why we at Trident Insurance are here. Like it says on the can we will take care of everything for you.  

Sorry but I really do love marmite, I find it really hard to defend the indefensible and am so disgusted by what some of our contemporaries have got up to that it makes me furious, because we all get tarred with the same brush and Trident Insurance, really are different.

If you need to make a claim try to keep receipts, certainly keep all insurance documentation, take photos and keep copies of everything when you send them off. Also send whatever you are posting guaranteed special delivery, it costs a shed load more but it guarantees to get there next day.  

We’ve found that recorded deliver doesn’t carry the same certainty of arrival and first or second class mail seems today to be pot luck in getting to the destination.

One thing is for sure, you shouldn’t assume because some Insurers are ruddy great big companies they can run circles around you. When you have a claim try to keep calm and remember play the system, always record when you called and ask for the names of who you are speaking to.

As a broker we’re here to make you life easier and that doesn’t mean we cost you any more, that is the sad line continuously put out by comparison sites. 

I worked for a large bank before I took over here eleven years ago, and vowed I would never let this company follow the way they treated their customers. I hope you have and will find our honesty and upfront approach a breath of fresh air.

Please never forget that at Trident Insurance we really do understand where you’re coming from, the problems you face as an individual or business and the best way to get you good insurance cover at the most economic price.

Cheers 

Robert        

Can't be bothered? Read on...

OK so your back now and the bills are starting to come in, suddenly New Year let alone Christmas seems like ages ago. 

Maybe things like insurance don’t crop up quite yet which is pretty lucky, as you are in for a bit of a shock on the rates to be paid now. With home insurance it’s not going to be a too much of a problem, and even small business insurance is holding steady on rates but when it comes to vehicle insurance compared to last year you will need to take a stiff drink. 

With fuel prices still obscenely high, there has actually been nearly a 10% reduction in fuel usage by drivers, not by driving better but by taking other transport to save money.  

Some car rates have gone up by over 30% and that is after last year’s increases which were between 15 and 20%. It’s clearly no longer a joke, and to quote the Times of 31-12-2011 “Remember that, at policy renewal time, insurance companies rely on customer inertia to boost their premiums”

Inertia:  the feeling of unwillingness to do anything (Collins English dictionary)

Maybe the dictionary should have expanded by adding ‘cos we can’t be bothered’

The hassle of filling in streams of questions and a general apathy to do it each year stops many from bothering and by definition moving. 

For sure there is a justifiable worry that by moving, you will end up not being with a high street name. Your protection is that the Insurer has to be authorised , regulated and comply with solvency commitments. 

We have all seen that big is no longer beautiful, and now the smaller and less bureaucratic Insurers are making great headway and offering really competitive rates. 

So please don’t let the comfort of staying put to avoid the hassle of form filling stop you from doing what saves you money. Inertia like pride is a very expensive commodity.   

Ok so you now decide to look at some comparison sites, and see some attractive rates. There may be a slightly lower entry point, but remember any changes you need to make during the life of the policy, like adding another driver or even registering a change of address can come with a horrendous charge, so taking the cheaper option can end up like flying with a cheap airline.

                  

Accepting you guys aren’t stupid, but there’s one key thing when using a broker and that is if they screw up you can blame them, whereas if you do, it’s down to you

OK I hear you say a Broker is seen today as a waste of time because dealing direct cuts out the middle man right? Well yes it should be, but when you add in the fact that each advertiser is paying the comparison site for every transaction equivalent to the commission they would have earned plus a charge for securing a quote, those advertising on the site need to get their money back.

So you get hit with charges and more hidden exclusions, a point it’s hard not to labour on about, that you don’t read about at the point of purchase, and suddenly you’re out of pocket with lower cover and only yourself to blame.

For the record, Trident don’t advertise on comparison sites, we’re here to save you money. 

Buying insurance can’t be viewed like buying a can of beans. We’re talking about your home, your car, your business, and so much more, and most importantly your money and it needs more than just a cursory approach. 

Not declaring material information, be it in regards to value, or say, with Professional Indemnity, your earnings, or for that matter any information, will handicap any pay out and may possibly exclude one if there was a deliberate intent to mislead.

What I’m trying to say is that Insurance really has got serious and is no longer cheap. Yes it feels like a tax but it’s also a security where there’s nothing else to match what it can do to give some peace of mind.       

At Trident we look to take the hassle out of buying insurance, give you the information you need, save you money whenever possible and in short take care of everything.  

Don’t let inertia cost you money, call us and let us show you what you’ve been missing.

Cheers, 

Robert

Amsterdam's finest

Insurance as an industry has been going for a 300 years and it’s very easy for those who work in it to think of themselves as in a holier than thou business.  As an in industry it exports its services brilliantly and to many recipients of the service what the UK offers is on many occasions second to none……perhaps because they are so few competitors to what the UK provides.

Saying that on a macro scale, we should all be happy of what the industry at the corporate level does, and the taxes it brings in. But given we all lead pretty insular lives at street level and not in ivory towers most of us don’t really care much for that kind of news as its too big and boring to comprehend. 

With that in mind you can rest assured I will not be looking to bore you with insurance today or at any time but just alert you to things that happen and inform you of what we are up to here at Trident 2 storey buildings…..sorry there are no ivory towers here. 

With that in mind you will know we had our Christmas party in Amsterdam where save for the meals the lads appeared to do ‘lad’ things and the girls seemed to prefer to go shopping. I would add that the choice of destination was a free vote and unbelievably unanimous.

For sure Amsterdam lives up to its reputation, in fact probably more so but the smell of "Amsterdam's  finest" is pretty hard to get to grips with.  I was presented with a ‘coffee’ cake and knew it had to be a set up but even just picking at the surface it didn’t take long before I felt a bit dizzy, one things for sure there was absolutely no coffee in that cake!!.  We never got near to seeing the Anne Frank Museum, let alone the Rembrandt or Van Gogh ones, culture bug readers will think we are absolute philistines,  but in our defence  we were  there to party and celebrate the end of a tough year and the Museums will have to be seen another time I guess. 

One thing is certain the Dutch people are extremely polite and friendly, but it is an expensive place and the duty free at the airport is the last place you want to buy anything from. Would I go back? I think yes, but maybe when the weather is warmer.

As for returning back to normality here it didn’t take long, like all breaks good or even bad ones we see them as away from here and suddenly it’s all lovely jubbly. 

Easyjet were good. But is there really a need to show your tickets and passports 5 times before you eventually sit down in your seat?  

Anyway do I have a message for you that’s at least kind of insurance related?  Well yes actually, just please lock up over the Christmas/New year period if you’re going out or away, keep some lights on when you’re out, and love a neighbour sufficiently to get them to check all is good with your home.  

Have a great time whatever you’re doing, even if you’re just baah humbugging everyone else and from all of us here at Trident Insurance we wish you a truly Merry Christmas and a very Happy and Healthy 2012.

I’ll update you in January  

Cheers, Robert       

What went wrong?

Hi, this is the first of many blogs that I hope will cast some light on what we do and what pitfalls can hit even the most seasoned and smart folk.

As a company we’re based in north east London, but that doesn’t mean we have no idea what’s going on or where to go with inquires. In fact we receive calls from all over the UK so we have to be informed and there are no excuses not to be.

We don’t believe in giving advice as there is no reason to. It’s your hard earned money and if the information we provide is full -and we believe it always will be - and the choice of provider good, then why should we need to advise. Our policy is it’s your money you need to decide how to spend it. 

Our staff are knowledgeable  and most importantly helpful ,and where we don’t have an immediate answer because it requires dealing directly with a specialist underwriter, we will let you know straight up. 

This weekend is our Christmas party so I will endeavour to get some photos out for next time, but taking the theme of Christmas it does lead people to believe that all will be happiness and joy. But it’s also a time when burglars are out there big time, and with the best will in the world we all need to make sure what we have is secure. So please make sure you lock up when you’re out, and leave a few lights on with maybe the radio on as well. Also maybe close some curtains.   

In truth it’s hard to excite anyone about insurance, given we are all bombarded daily with happy smiley families on tv and how wonderful life is,not forgetting all claims handling adverts to boot. But things do go wrong. We have a client who insured some decent paintings and then one was damaged in transit. She put in a claim and was told by the Insurance company that she had undervalued. 

What went wrong? She insisted she knew what they were worth and I reckon didn’t want to pay for a separate valuation that could lead to a higher premium, thinking as we all do that its not me who gets the accident, and we placed her on cover. 

That’s all cool, but it’s hard for an Insurer to pay over what the given valuation was. So in short they didn’t. She was totally hacked off and couldn’t see that good stuff doesn’t stay at 20 year old valuations. The result was she’s had to take it on the chin, but has now got up to date valuations on cover.  

So where you have a lot of good things, please don’t think you necessarily know all their values. It’s incredible how all the bits tot up, and for sure it may cost more to get the full cover secure. But aren’t you and your possessions worth that, and what value is Christmas if you don’t look after your home as well as your family? 

It’s easy to begrudge paying for insurance and yes there’s a lot of choice out there, and there’s also a lot of policies that aren’t worth the paper they’re written on, when you look at all the exemptions! 

At Trident, we won’t give you bull just how we see it, so please don’t undervalue and always make sure you lock your home securely.  Yes, times are tough but you can’t get good cover on the cheap!

Cheers   Robert