Home insurance

Discussion in 'UK and Europe' started by Ian, Sep 18, 2003.

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  1. Ian

    Ian Guest

    Received my home insurance renewal documents this morning (Sainsbury's Bank), I noticed there is
    change to another admin company, effectively a tranfer of policy to another company, so duly checked
    through it, what do you know, no special mention of specific pedal cycles, maximum pedal cycle cover
    £500. I duly ring up and ask about my two £1300 recumbents that have always been named on the past
    policy, "sorry, we cannot cover them with this policy", but, I say, if this is a direct transfer of
    policy you are obliged to provide cover for the first year as you have not given me due notice, "oh,
    hold on..... ok, they are covered this year but will not be after the next renewal, we will send a
    letter of confirmation". Bugger, they were competitively priced, any ideas for next year people?

    --
    Ian

    http://www.catrike.co.uk
     
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  2. Paul

    Paul Guest

    I have always used Legal & General to cover my bikes including a Trek OCLV road bike, I have to
    supply them with frame numbers an pay a small extra premium on my standard contents policy. I made a
    claim a few years ago which they paid up without an issue.

    Paul

    "Ian" <[email protected]> wrote in message news:BB8F3224.10913%[email protected]...
    > Received my home insurance renewal documents this morning (Sainsbury's Bank), I noticed there is
    > change to another admin company, effectively a tranfer of policy to another company, so duly
    > checked through it, what do you know, no special mention of specific pedal cycles, maximum pedal
    > cycle cover £500. I duly ring up and ask about my two £1300 recumbents that have always been named
    > on the past policy, "sorry, we cannot cover them with this policy", but, I say, if this is a
    > direct transfer of policy you are obliged to provide cover for the first year as you have not
    > given me due notice, "oh, hold on..... ok, they are covered this year but will not be after the
    > next renewal, we will send a letter of confirmation". Bugger, they were competitively priced, any
    > ideas for next year people?
    >
    > --
    > Ian
    >
    > http://www.catrike.co.uk
     
  3. Ian wrote:

    > Received my home insurance renewal documents this morning (Sainsbury's Bank), I noticed there is
    > change to another admin company, effectively a tranfer of policy to another company, so duly
    > checked through it, what do you know, no special mention of specific pedal cycles, maximum pedal
    > cycle cover £500. I duly ring up and ask about my two £1300 recumbents that have always been named
    > on the past policy, "sorry, we cannot cover them with this policy", but, I say, if this is a
    > direct transfer of policy you are obliged to provide cover for the first year as you have not
    > given me due notice, "oh, hold on..... ok, they are covered this year but will not be after the
    > next renewal, we will send a letter of confirmation". Bugger, they were competitively priced, any
    > ideas for next year people?

    Mine are covered at home (up to £1500 each) but it would cost over £300/year for cover when they're
    out and about. I bough a big lock.
     
  4. Tim Hall

    Tim Hall Guest

    On Thu, 18 Sep 2003 09:57:56 +0100, Ian <[email protected]> wrote:

    >Received my home insurance renewal documents this morning (Sainsbury's Bank), I noticed there is
    >change to another admin company, effectively a tranfer of policy to another company, so duly
    >checked through it, what do you know, no special mention of specific pedal cycles, maximum pedal
    >cycle cover £500. I duly ring up and ask about my two £1300 recumbents that have always been named
    >on the past policy, "sorry, we cannot cover them with this policy", but, I say, if this is a direct
    >transfer of policy you are obliged to provide cover for the first year as you have not given me due
    >notice, "oh, hold on..... ok, they are covered this year but will not be after the next renewal, we
    >will send a letter of confirmation". Bugger, they were competitively priced, any ideas for next
    >year people?

    Fern assurance, advertising in a cycling magazine near you.

    Tim
    --
    In space no one can eat ice cream
     
  5. On Thu, 18 Sep 2003 09:57:56 +0100, Ian <[email protected]> wrote:

    >Received my home insurance renewal documents this morning (Sainsbury's Bank), I noticed there is
    >change to another admin company, effectively a tranfer of policy to another company, so duly
    >checked through it, what do you know, no special mention of specific pedal cycles, maximum pedal
    >cycle cover £500. I duly ring up and ask about my two £1300 recumbents that have always been named
    >on the past policy, "sorry, we cannot cover them with this policy", but, I say, if this is a direct
    >transfer of policy you are obliged to provide cover for the first year as you have not given me due
    >notice, "oh, hold on..... ok, they are covered this year but will not be after the next renewal, we
    >will send a letter of confirmation". Bugger, they were competitively priced, any ideas for next
    >year people?

    More Than covered my recumbent and Mrs. G.s Dawes. Their cycle insurance covers any 2 bikes up to a
    value of £2500 *each*, new for old, no catches other than it has to be locked when unattended. No
    specific named lock is required. Give them a call for more details. We changed our contents
    insurance to them and ended up paying about a fiver a month more for bike cover than what we paid
    for contents without. Good value, IMO. Of course, I haven't had to make a claim, yet...
    --
    DG

    Bah!
     
  6. Sabineuk

    Sabineuk Guest

    Disgruntled Goat [email protected] said:

    >More Than covered my recumbent and Mrs. G.s Dawes. Their cycle insurance covers any 2 bikes up to a
    >value of £2500 *each*, new for old, no catches
    [snip]
    >Good value, IMO. Of course, I haven't had to make a claim, yet...

    And if you do, you will find that they are courteous, efficient and any delays in payment are down
    to you not sending them the (minimal) paperwork they've asked for.

    Only downside is that they may try to pay a bike claim with a Halfords voucher, but they backed off
    and sent a proper, real cheque with very little quibbling.

    John
     
  7. On 21 Sep 2003 09:39:57 GMT, [email protected] (SabineUK) wrote:

    >Disgruntled Goat [email protected] said:
    >
    >>More Than covered my recumbent and Mrs. G.s Dawes. Their cycle insurance covers any 2 bikes up to
    >>a value of £2500 *each*, new for old, no catches
    >[snip]
    >>Good value, IMO. Of course, I haven't had to make a claim, yet...
    >
    >And if you do, you will find that they are courteous, efficient and any delays in payment are down
    >to you not sending them the (minimal) paperwork they've asked for.

    So, after-sales is about as good as pre-sales, then. Nice.

    >Only downside is that they may try to pay a bike claim with a Halfords voucher, but they backed off
    >and sent a proper, real cheque with very little quibbling.

    As long as they're prepared to quibble, that's fine. They do seem to be very customer-focused. I
    haven't heard a bad word about them so far.
    --
    DG

    Bah!
     
  8. laf1970

    laf1970 New Member

    Joined:
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    I can say that at renewal, the 'contract' is open to negotiation by both sides. you can only be held to the terms and conditions applicable to the policy if you have agreed renewal.

    If a policy is to be transferred to a different class without your prior agreement, after all it is YOUR policy, YOU have purchased it, and the new policy cannot afford the same cover, the insurer must notify the policyholder that renewal for the previous policy will not be offered and state reasons.

    The company is not obligated to offer like for like cover across policies unless they transfer a policy mid-term.

    I work in insurance as a Household and Motor Underwriter, and I have to deal with different policy classes and products all the time. My advice would be to check all of the correspondence dates and list them in order. Check your policy book for terms and conditions etc. If the company have told you they ARE transferring your policy to a different product, with different cover, they must supply you with a copy of the policy and wording for you to understand the terms and conditions of the new policy and the contract that applies to it.
    If you deal through an agent, the agent may have placed your business through a different company for business reasons

    I hope this helps. The Financial Services Authority regulates the insurance industry. Complaints must first go through the insurer who has a set time in which to provide a solution. If you do not agree with this, then you can approach the FSA.

    I hope this helps.

    Lee
     
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