Just made an amendment to my bike insurance £40.50 "admin fee". WTF! My GF is presently buying a house and the number and value of "admin fees" is just shocking... RANT...!!!
Its a disgrace isnt it. The insurance companies online brokers are behaving like solicitors now and charge for every letter they have to type. The online firms will say it is because they are working on tiny margins. No idea if that is true. I have decided that when my policy is due for renewal I`m going to try an actualold fashioned broker, like in the old days. I use one at work to cover the premises, stock, vehicles etc. At least then I will be speaking to someone I have met several times and hopefully will never be put on hold or speak to 23 different people before finding someone who can help. I think some building societies and banks give a fixed price to cover everything so no extra admin fees , maybe worth looking around if it is not too late.
In the process of buying a house. Paying £999 in admin fees on top of stamp duty. Then just to change house insurance over to new place and add something to policy it's £30. It's shocking!
When I sold my flat few years ago, the solicitor required a statement from the service administrators that I was not in arrears..... £300 admin fee...!!!
We use a local insurance broker at work, it is very useful to know that you will speak to the same person every time and they will actually do the work for you to earn their administration fees. We do however sell some units to on line suppliers and the margins that they make are minuscule, they basically only make the admin fee, that is it.
To add insult to injury a called them (MCE) today to inquire where my meager refund was after they had extracted their f'ing admin fee. I was informed that refunds are only issued after 90 days, and only when the policy holder has actually called to "claim" the money! I love 'em...!!!
Just went to buy Early Bird tickets for next years MotoGP for the Friday practice at £12 - BARGAIN for a days entrttainment, then I saw the £6 P&P for the ticket which is half the price of the ticket. It's only £20 on the day! Not such a great deal.
Pah - complete amateurs when it comes to 'admin' fees ...... On his recent combined (multiple directorships!) tax return, a certain Mr Coe fella (face of the Olympics) declared the following: Revenues - £178,988 + £455,766 (total £634,754) Administrative Expenses - £41,760 + £587,359 (total £629,119) ........which means on an income of over £630k, the 'admin expenses' means he only paid tax on £20k (c£4k) ........ Now, nowt against him, and I'm sure he's not the only one pulling this stunt, but how on earth do you get away with telling HMRC that you've run up £630k of 'admin'?
It's simple. You're a Lord, a Tory party stalwart and a household name Olympian. Stick em all together and do what you want.
Got the major b@stard hump with these buggers yesterday and insisted on logging a formal complaint/ombudsman...blah, blah. Guess what? Admin fee 1/2'ed and refund instantly refunded to my card... The girlie basically said as I'd complained they would deal with the complaint and authorise a refund! Just shows the feekers will simply take the pi$$ if they can! Only a small victory, but I'll notch it up!
Along the same lines, 'Booking Fee' !!! what a load of bollocks, the price of the ticket should be what it says on it, no more.
