Contego out

[kltk165]

Looks like Contego isn't writing anymore contracts. Applied for a quote over the weekend and got the following response today.



Thank you for your inquiry. We regret to inform you that our underwriter has terminated its coverage plans previously offered through our agreement and websitrm This may be attributed to a bumber of reasons; from too high of loss ratios, to general elimination of certain plans we were made available to offer. Regardless, a replacement carrier is being sought. We are a broker since underwriters are normally unable to sell direct to consumer.

We appreciate the opportunity and will continue to provide quality plans.


We believe in full disclosure, as such, we can retain your contact information and once we have a new underwriter, may provide to you information

Thanks,

Adam Bonislawski


ContegoDirect

www.contegodirect.com

 

[birdmanbmw]

Got the same response today. It sounds like they are looking for another product. I've got 3 years till I need it...

 

[motodan]

Taking on the odds.

These underwriters (carriers) and their middlemen (brokers), in this field, tend to come and go. Poor loss ratios may mean tougher claims evaluations to produce a better return on any specific block of business. Hopefully this doesn't result in poorer service and claim paying results for future claim filings. This is one reason why great caution is required in acquiring these third party mechanical insurance policies. It is a game of chance, like all insurance.

 

[greenwald]

So, with two years left on my Contego Contract, what happens when I submit my next claim??

 

[birdmanbmw]

So, with two years left on my Contego Contract, what happens when I submit my next claim??

This only applies to new business- you have a contract and should not expect anything to be different. Kinda like a poker game that is closed to new players- the game goes on but only for the existing players...