Saga Share Discussion Threads

[kenmitch] 10/7/2019 16:08

That’s a VERY helpful post EdmondJ especially so re no high scoring reviews where the user has had a claim. The quality of the service when making a claim matters more than anything else. e.g low premiums are no good if they are inefficient or find every excuse possible not to pay out. I’m about to renew my travel insurance and am currently with Saga, but your post has already persuaded me to look elsewhere and to double check trustpilot and Which reviews on claims before deciding.

From an investment angle.....will SAGA service return to traditional standards under a new CE?

Also have just read Tempus column in The Times and the writer concludes risky buy. Wonder if TEMPUS team did any checking out of customer service before writing it, or were just rehashing broker advice received?

[ignoble] 10/7/2019 09:53

Must admit that when I have had my renewal from Saga , I have checked the Comparison Websites and then called Saga and asked if they can compete.

Last time they price matched give or take a fiver so was happy to stay with them.

[edmondj] 10/7/2019 09:18

I'm less concerned by the specifics of near-term expectations management than whether customer experience in the insurance broking side can be improved. Anecdotally it does seem more people are encouraged by the 3-year fixed price car/home deals although other insurers are bound to follow suit; meanwhile reviews like a latest below help explain customer churn.

More positively, if the customer experience can improve and the new cruise ships prove broadly successful then yes, a recovery stock.


Poor service from a once-good company

Just been in contact with Saga to sort out my car insurance. I am not going with them this time, after several years of using them, as they are almost £100 dearer than not even the cheapest mainstream competitor. Also very concerned after a recent experience about their appalling Customer Service standards / targets - 5 days email response, EIGHT weeks complaint / query response. This latest issue just reinforces my opinion.

I filled in the online form for my new company and policy, but when I uploaded the renewal letter I received from Saga to my new company, it was insufficient as there were no details of my no-claims entitlement on it (14 years). So, I had to then contact Saga who initially informed me that they couldn't send me this information until AFTER the policy had expired (just over a week to go) as I might make a claim in the meantime !!

Surely this could easily be resolved in the obviously rare ( 1 in 52 ? ) cases that statistically it should occur in for the last week of a policy and the new company would then presumably charge me more with me having made a claim on the last policy. So I then had to get back in touch with my new company and ask THEM to phone Saga, who then gave them the information required.

Never had this problem before when renewing / changing companies. i suspect it is just a ploy to make it more difficult to get away from them as some might just give up under the hassle. It should not be this difficult, no wonder the insurance 'industry' has such a stellar reputation nowadays when this happens.

Not what I would expect from a company I had always had the highest regard for until recently, a company I suspect is trading on its past high reputation but which can no longer live up to it.

It is perhaps very revealing that, looking down the first few screens of reviews on Trustpilot, there are no high-scoring reviews where the user has had a claim or problem, The five-star reviews only come from others who have not made a claim. Whenever any problems arise they seem incapable or unwilling to address them and only ever respond (on this site anyway) with a 'cut and paste' paragraph which is identical every time.

[diku] 10/7/2019 08:47

Broadly in line statements are only for that particular moment in time...if it differs surely they would want to buy time hoping it recovers...otherwise credibility dented...

[thecroots] 09/7/2019 16:52

I might add, i don't really bring much to this board but watch often. I do have a large holding with an average of 47p. as you can deduce from that I'm fairly new into SAGA shares having most of my holding in gold stocks, which have been doing extremely nicely for me...

I do feel however, that SAGA could well be a good recovery play and whilst the market cares little for sensible valuations - SAGA even with another profit warning (They have already stated broadly inline so even if its misses It cant be much off surely if the recently stated broadly inline) is crazy cheap

[thecroots] 09/7/2019 16:48

I've had buywell on filter for a while along with a few others that might be the same person. Or the others that constantly argue and bicker. This hoard isn't of that.

[pete160] 09/7/2019 11:30

EJ. It was aimed at buywell.Your posts, I always read and as others have said, I find them very insightful and informative.

[pete160] 09/7/2019 11:27

God yes, it was difficult and I ended up doing a limit order. It was the first time that I was using ajbell and i wasn't impressed at all with their website set up or their back office service. My main account is with hl. and I suspect they would have been more straightforward for dealing and their client support is first rate.My concern with the low normal market size is if I want to get out quickly, but then I'm anticipating/ hoping my exit will be as the result of a bid :-)

[pete160] 09/7/2019 11:04

'you pays your money you takes your chance'You've been on my ignore lists for ages as you appear on a number of boards always spreading doom and gloom. Every know and then I take you off ignore to see if you've added anything of note to these discussions on here (invariably not) One day you may be right on the sky faking in, but if you've followed your own advice and sold or shorted everything you've missed out on a tremendous 6 months.

[edmondj] 09/7/2019 10:27

EJ,

Could well be so, indeed the cruise industry in general has appeared relatively recession resilient; you also have to bear in mind extra capacity after more ships have been built during a long upturn since 2009, people becoming worse-off may defer from, hence more discounts potentially arising which could compromise margin.

[imastu pidgitaswell] 09/7/2019 10:26

15,000 is the NMS - I bought 2 chunks and sold one without any problems, when most trades are much smaller.

Didn't try 16,000...


(PS - regretting the sale already...)

[spob] 09/7/2019 10:20

" Have managed to load up another large chunk this morning at under 40p so now happy to sit back for take off :-) "

was it hard work buying shares in Saga ?

[edmondj] 09/7/2019 09:23

A 20p scenario looks chiefly consistent with the insurance broking side failing to gain traction versus competition moving to fixed-term policies, and a hard Brexit impacting consumer confidence/spending on cruises, thus compromising the 8p EPS guidance with a 50% payout ratio. More positively, if old timers are wowed by the new ships, to fork out irrespective of a UK recession, and the insurance side at least stabilises, then possibly there's upside simply in relation to de-risking a 10% yield.

[pete160] 09/7/2019 09:10

Have managed to load up another large chunk this morning at under 40p so now happy to sit back for take off :-)

[koetser] 08/7/2019 23:32

EJ

Agree looks like 40p could become next support. Analysts never seem to get it right so I reckon they have a hidden agenda

[buywell2] 08/7/2019 22:36

20p also my call

IMO overblown markets are now going to tank in the USA and then the ROW

Pain is on the way

dyor