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I've claimed for a stolen bike through Endsleigh insurance. After a bit of persuasion they have even sent the cheque so I can get it from my LBS.
Anyway they are now claiming to re-insure my replacement bike I have to pay £26 and it's in the contract, otherwise the replacement bike won't be insured!!
I thought I paid £150 for a years policy. The £26 isn't the excess either.
Has anyone else had this scam from other insurance companies?
MM
Fairly standard practice to charge for changes to an insurance policy and endsleigh aren't known for being cheap
I'd have thought that once they had paid out for the full cost of the insured item that the policy was finished (and so £26 would be a good deal).
Yeah, the policy usually finishes!
Use to be the same if you have a car/bike written off - policy goes with it.
You bought a years cover. You paid for a period of insurance.
Ok, you can't cancel the policy mid term, as you have used it, and insurance polcies, like condoms and underwear, are things that people are not terribly impressed with once you've "used" them.
For example, if a claim wasn't subject to payment of a full premium, how many people insuring on jan he 1st, crashing on jan 2nd, would pay for the full year, but expect full payment of claim otherwise?
However, as you paid a years cover, then most policies continue to run, but you get levied a charge for substituting another product on cover. Which is only reasonable, someones got to go to the effort of taking your qurey, setting it all up, sending you docs for the new item, and the usual checking when you return them.
Some insurers may cancel a policy if you make a claim, but frankly, if they're taking a years premium, thats taking the piss.
It was a home contents policy, not bike specific. The bike was specified though. I thought that if I insured my house contents for a year, 6 months in I claim, surely they should still cover me for the remaining 6 months, since I've paid for them.
Also as for covering costs etc, isn't that what the excess is for?
Agreed, they should provide cover for the remaining period. I was thinking of a bike specific (or car) policy .
[i]It was a home contents policy, not bike specific.[/i]
Ah, that explains it! I couldn't get my head around the fact that a bike specific insurance company had actually paid out!