car insurance help

[pokerram]

Hi all, My niece had her car stolen the other week so put in an insurance claim ( with very well known supermarket.).
On claiming she was told the policy they gave her in the 1st place was the wrong policy, and sent a new policy saying send the 1st one back.. On reading 2nd policy their was some notable differances IE no personal belongings or stereo equitment. They also said the car has devalued in price £2500 in 4 mths so this is the price thell pay out. Can anyone tell me if this is normal procedure or advise on what she can do. I can only think of cab and trading standards. TY if u can help

[ItsMrAlex2u]

I hope she didnt send the 1st one back !!

I would start with a stroppy letter to the MD and then take it from there

[pokerram]

tx m8 not sent 1st copy back i told her not to on any circumstances

[doubleup]

Its a bit of an odd one this.  The crucial issue is whether the policyholder accepted the policy on the "better" basis - this depends on what documentation was sent out and when.

As far as complaining is concerned the procedure is that you exhaust the complaints procedure of the ins co - they should send you a "final response" with the details of the Financial Ombudsman.  If you are not satisfied you can go to the FOS.

[ifm]

I guess it depends whether the original policy was based on 100% accuracy, even the slightest mistake and they can pull it, as for them changing it i'm sure the smallprint would allow them to, they are buggers.

Original valuation is immaterial, it is market value at the time of the claim i'm afraid.

[ifm]

I guess it depends whether the original policy was based on 100% accuracy, even the slightest mistake and they can pull it, as for them changing it i'm sure the smallprint would allow them to, they are buggers.

Original valuation is immaterial, it is market value at the time of the claim i'm afraid.

Oh, if you are unhappy with the valuation a good idea is to send them ads/autotrader links etc. to get a better price, they nearly always budge on the first offer.

[pokerram]

tx guys

[MPOWER]

With over the phone insurance you will have a cooling off period of 7 Days.

So if they change the contract which is the policy. you may get a cooling off period.
The FSA regulate all insurance based products. You get 7 Days on all over the phone or
net transactions to cool off ( Apart from Food,Wine,Holidays,Software) This is known as Distance Selling Regulations.

Market price of the car is not trade price but how much it would cost to buy from a
reputable Garage. I have loss adjusters calling me all the time for " What do you think it's worth"

I can assure you cars are being Murdered at the moment. I sold a Bentley Continental GT
last month 04 Plate for £66000 after 2 Weeks later matey didn't like it. Best offer we could get was
£50000. £16000 pill in 2 weeks.

One product I'd always buy on a car is G.A.P Insurance, cheap as chips and all your money back.
Saves time in negotiations and you get full invoice price back.

On the policy they will be a complaint number.



Good Luck 

Regards

M           
 

[boldie]

With over the phone insurance you will have a cooling off period of 7 Days.

So if they change the contract which is the policy. you may get a cooling off period.
The FSA regulate all insurance based products. You get 7 Days on all over the phone or
net transactions to cool off ( Apart from Food,Wine,Holidays,Software) This is known as Distance Selling Regulations.

Market price of the car is not trade price but how much it would cost to buy from a
reputable Garage. I have loss adjusters calling me all the time for " What do you think it's worth"

I can assure you cars are being Murdered at the moment. I sold a Bentley Continental GT
last month 04 Plate for £66000 after 2 Weeks later matey didn't like it. Best offer we could get was
£50000. £16000 pill in 2 weeks.

One product I'd always buy on a car is G.A.P Insurance, cheap as chips and all your money back.
Saves time in negotiations and you get full invoice price back.

On the policy they will be a complaint number.



Good Luck 

Regards

M           
 

Yikes!

[KingPoker]

If you know your car is worth more than what they are offering, go onto car sites and try and find 3/4/5 examples of simliar models to yours that are the same price, print them off and send them to the insurance company. You are more than entitled to refuse an offer from them if you can prove what they are offering is taking the piss/lot less than the TMV (True Market Value).

G.A.P is a good thing yes and some swear by it, some curse it as it does add a lot on to you policy (and in truth not worth it on a car less than 10K). People usually only hear of it after they have the crash though!

Dont bother with going to other complaints divisions other than the insurance companies, they are very unlikely to bow into any outside pressure due to them actually having a leg to stand on.

Its up to you to prove the car is worth more, if you cant then you have no choice. And with the current car climate bein so poor (which is why im buying lol) I wouldnt be surpirsed if your car has dropped that much.

If your willing to post the make and year of car (mileage/model etc), how much paid for it and how much they are offering, perhaps I/someone can do some research for you...