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View Full Version : Does anybody have any experience with Ibex Insurance in Tenerife?



Catty
12-06-2011, 16:57
Looking for informatin on Ibex Insurance for house and contents, found the company on the internet and wondered if anybody had heard about it

Jackie
12-06-2011, 17:02
Yes Ibex is a well known Company in the UK and their Underwriters are Lloyds of London. Just be aware that if you are Insuring property/contents here in Tenerife via them and want Accidental Damage included as in most normal UK policies it will cost a fortune. I used them for my contents policy here the very first year via Admiral and the premium then, which was four years ago was in the region of about 700 euros. You can get the same cover MINUS the accidental damage through Spanish Insurers for about 300/350 euros. Spanish Insurers don't include Accidental Damage as they seem to think even if something was an accident it was still your fault so why should they pay out for it.

Edit.... Just thought of something else, they will not cover you if you get anything stolen while you are out either. My daughter had her handbag stolen the first year we was here. It had her phone and everything in but they would not pay out as for some strange reason they decided that she shouldn't have had her phone etc. in her handbag???. I will say though that Admiral thought this a very strange response as the policy we had was All Risks and should have covered her. Admiral did however give us 250 euros themselves because they felt it was wrong. A really nice gesture but it didn't cover the cost of the phone let alone other things she had taken. Spanish Policies DO cover this

garlicbread
12-06-2011, 17:19
Talk to Anne Hobson Insurance services, based in Los Cristianos she will be able to help you and I say this from personal experience.

Tel: Phone/Fax: (0034) 922 793 866
Mobile: (0034) 679 727 315
info@annehobson-insurance.com

tracey
12-06-2011, 17:54
We have used them for car insurance. No problems and cheaper than Linea Direct (Direct Line)

Ashro Autos
12-06-2011, 19:20
Sure Timmylish will have something to say about Ibex after all the hassle he had

timmylish
13-06-2011, 02:41
They are a shower of rascals out to get as much money from ex-pats, hoping that the premiums taken cover any claims. Then, when claims are made against them they procrastinate until such time that you will accept their offer or for it to be withdrawn! Ask yourself one question. Why are they situated (Registered) in Gibraltar. Why not the UK or Spain. Why not offer their services to Spanish Nationals. They try to avoid them like the plague! Look into the owners/directors and they make nasty reading! Its all right saying they are cheaper than others but, like them, I could start up exactly the same sort of Company on Gibralter for 100 quid and start trading. I would register my company with Lloyds of London who are only the Agency who will place the bet on the open market. See:-
http://www.lloyds.com/Lloyds/About-Lloyds/What-we-do/Placing-Risk
If you understand the principle you will see how easy it is to do.
Now, if they agree to a payout this will be in line with the lowest common factor being the lowest sum to be paid out by a Government Agency here in Spain. So, when the main stream companies are competing with each other , within a few €,s they will all have the same payout principle. I may be making unfair comments but they are based totally on personal circumstances. Why did a garage on here point you in my direction.
You pays yer money and you take yer chances. Fair enough but I,d rather take those chances on a more even playing field with a fully accredited Spanish Insurer.

casabonny
13-06-2011, 10:02
They are a shower of rascals out to get as much money from ex-pats, hoping that the premiums taken cover any claims. Then, when claims are made against them they procrastinate until such time that you will accept their offer or for it to be withdrawn! Ask yourself one question. Why are they situated (Registered) in Gibraltar. Why not the UK or Spain. Why not offer their services to Spanish Nationals. They try to avoid them like the plague! Look into the owners/directors and they make nasty reading! Its all right saying they are cheaper than others but, like them, I could start up exactly the same sort of Company on Gibralter for 100 quid and start trading. I would register my company with Lloyds of London who are only the Agency who will place the bet on the open market. See:-
http://www.lloyds.com/Lloyds/About-Lloyds/What-we-do/Placing-Risk
If you understand the principle you will see how easy it is to do.
Now, if they agree to a payout this will be in line with the lowest common factor being the lowest sum to be paid out by a Government Agency here in Spain. So, when the main stream companies are competing with each other , within a few ,s they will all have the same payout principle. I may be making unfair comments but they are based totally on personal circumstances. Why did a garage on here point you in my direction.
You pays yer money and you take yer chances. Fair enough but I,d rather take those chances on a more even playing field with a fully accredited Spanish Insurer.
Couldnt agree more Timmy and I too speak from personal experience .IMHO avoid them like the plague.

Catty
13-06-2011, 17:23
Thanks everyone good to know.

Ashro Autos
13-06-2011, 20:35
:eyebrows::eyebrows::eyebrows:Told you Timmy would have something to say :eyebrows::eyebrows::eyebrows:

atlantico
14-06-2011, 00:21
NO ! something to say is a few words - his was an essay !

sleepy
14-06-2011, 11:42
Used Ibex for yonks and never had a problem with them.When the car was written off we got a fast fair payout.

Jackie
14-06-2011, 11:53
Used Ibex for yonks and never had a problem with them.When the care was written off we got a fast fair payout.


That maybe, but we are talking about Contents Insurance for the house. Premiums very expensive and then they don't pay out when you claim what you are supposed to be covered for

happygirl
26-03-2012, 07:16
in response to iIBEX please do not confuse the matter WITH ANOTHER COMPANY CALLED SPANISH SOLUTIONS WHO ARE UNDERWRITTEN WITH LLOYDS AS WELL...heard so many complaints from exisiting clients (which cannot disclose for confidentiality reasons)
firstly let me tell you they are based in gibralter AND MAINLAND SPAIN (ADDRESSES CAN BE PROVIDED
having worked with many insurance companies they are very quick with claims only problems is when the protocol is not followed
which is same with ALL companies.


ie.......you insure the car and HAVE NOT CHANGED IT TO YOUR NAME...if written of the owner of the car is paid out....not mentioning any names but the person will know who im talking about

secondly accidental damage .....in spain accidental damage ie boiler falls of wall and damages then yes thats an accidental that is covered ...what you cannot get is accidental (negligence) cover ie you drop your mobile in pail of water that is negligence.
if you are outwith the home and are mugged then covered...if pick pocketed you are not in spain which is unfortunate but we now explain fully to clients to make them aware of rules of spain
ibex -----will not allow just anyone to be their agents they must be fully trained and have diplomas!!!!! quite a few people are not pleased as they cannot be agents.
IN RESPONSE TO ABOVE.......IBEX WILL NOT ALLOW ANY NEW AGENTS IN TENERIFE......as i said before this has not pleased some folk but they do vet their agents first.

unfortuntely a few agants lost their agencies of ibex...due to circumstances

casabonny
26-03-2012, 10:21
Funny post this.Ibex wont allow any new agents, well why would they when they have bought out the thier second agency( the first being Kay Green who long term residents will remember well ) they dont really need anyone else now as they can get all the money themselves and not have to pay agents commision.
You say they have to be fully trained and vetted, as far as I am aware this has ALWAYS been the case so nothing new there .So it seems they are FINALLY coming in line with all other companies and adhering to the law( well in some parts anyway.)Still does not make them any safer bet than any other company and if they owe money you have got a cat in hells chance of getting it, although now they DO have addresses in Spain they sail very close to the wind.I speak from my personal experience and having been an agent for them when they first came to the island ( not an employee as the actual agent).
As for Spanish Insurance Solutions they have been around far longer than Ibex and have a reputation second to none with claims etc.They are not always as cheap as Ibex but cheap is not always the best is it :cheeky:

happygirl
26-03-2012, 14:25
I disagree with the above ..there are a few agents no matter what company they work along side are NOT fully insurance trained or have diplomas of any kind.
If no matter what company is used the companies are only as good as the agents to look after them!!!!

I rest my case.......the only reason I came on to answer to...was because many of my clients had asked me why I had not answered.
Having worked with insurance companies for many years I do not waste my time tittle tattle with other insurance agents that are bad mouthing other agents

We at Admiral Insurance Tenerife have worked along side well for many years with other agents who use different companies... with no snidey remarks
regards lorraine dunlop

casabonny
26-03-2012, 15:49
I will not get into a slanging match as that is not my way and neither was it my intention.
My point is about IBEX the company and not the agents , as you well know Lorraine.
I have made no snidey remarks about ANY agents which if you had read the post properly you would have seen.
I think that you are being a wee bit touchy on this matter Lorraine.