Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • eddablin
    • By eddablin 12th Sep 17, 7:19 PM
    • 8Posts
    • 1Thanks
    eddablin
    Premium Increase During Policy
    • #1
    • 12th Sep 17, 7:19 PM
    Premium Increase During Policy 12th Sep 17 at 7:19 PM
    Hi,

    I got burgled in February and settlement has only just occurred due to a very protracted valuation period. I have now received a letter from my home insurance provider saying that I need to pay a whopping premium increase.

    At this point I would like to cancel as this premium increase is extremely noncompetitive. However, they have told me that I need to pay the whopping premium increase regardless. This does not sound fair. They could pluck any number out of the sky without me accepting. How can I be liable for this? I have paid my excesses.

    Ed
Page 1
    • rs65
    • By rs65 12th Sep 17, 7:41 PM
    • 5,227 Posts
    • 2,483 Thanks
    rs65
    • #2
    • 12th Sep 17, 7:41 PM
    • #2
    • 12th Sep 17, 7:41 PM
    I have now received a letter from my home insurance provider saying that I need to pay a whopping premium increase.
    Originally posted by eddablin
    What reason did they give?
    • forgotmyname
    • By forgotmyname 12th Sep 17, 7:59 PM
    • 25,708 Posts
    • 10,218 Thanks
    forgotmyname
    • #3
    • 12th Sep 17, 7:59 PM
    • #3
    • 12th Sep 17, 7:59 PM
    Some discrepency in the data you provided in the original quote?
    Under insured?

    Or have you renewed since Feb?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • eddablin
    • By eddablin 12th Sep 17, 10:37 PM
    • 8 Posts
    • 1 Thanks
    eddablin
    • #4
    • 12th Sep 17, 10:37 PM
    • #4
    • 12th Sep 17, 10:37 PM
    They say its because I made a claim (so I am a different risk profile now). I shouldn't have any discrepancy and they haven't made me aware of any.

    They smashed through my rear window with a crow bar as well - so no fault of my own (if that makes any difference. We didn't have an alarm at the time.)

    Yes I renewed March 21st after being burgled and reporting straight away on Feb 13th.

    They have pointed to the following terms:

    Adjustment term: i.imgur.com/ss1LDw8.png
    Can't cancel term: i.imgur.com/oQjCCyV.png
    • forgotmyname
    • By forgotmyname 12th Sep 17, 11:53 PM
    • 25,708 Posts
    • 10,218 Thanks
    forgotmyname
    • #5
    • 12th Sep 17, 11:53 PM
    • #5
    • 12th Sep 17, 11:53 PM
    Renewed with the same company, did the renewal mention a discount for not claiming? Did it mention the claim?

    Renewed with the old quote which may have been created before your claim hit the computer system?

    Was it your fault or theirs?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • eddablin
    • By eddablin 13th Sep 17, 11:33 AM
    • 8 Posts
    • 1 Thanks
    eddablin
    • #6
    • 13th Sep 17, 11:33 AM
    • #6
    • 13th Sep 17, 11:33 AM
    Yes renewed with the same company (Tesco Bank underwritten by RSA).

    The renewal didn't mention the claim and included my 6 years no claims discount. You may be right about the systems but this was over 5 weeks after. I am sure I rang them about this as I wouldn't want my insurance to be void. Having just spoken to them on the phone they said that this was right as no claims would only drop after settlement.

    I don't think anyone is at fault here?

    I have just raised a complaint. In a nutshell - I don't think a whopping premium increase (by my calcs almost double what I can get elsewhere pro rata even given claim) should be enforceable without prior consideration - I should at least be able to pay the cancellation fees. I have been told that the complaint isn't going to make a difference but at least it will allow me to speak to the omsbudsman.
    • maddogb
    • By maddogb 13th Sep 17, 1:01 PM
    • 460 Posts
    • 72 Thanks
    maddogb
    • #7
    • 13th Sep 17, 1:01 PM
    • #7
    • 13th Sep 17, 1:01 PM
    you are being scammed as is so typical from inurers these days,
    read the T&Cs the right to cancel is per policy, in real world terms you have taken out a new policy with the renewal
    as you have not claimed on "this" policy it's unlikely a court would enforce that term and consumer laws is quite specific on terms that give unilateral power, it ain't on.
    • forgotmyname
    • By forgotmyname 13th Sep 17, 7:12 PM
    • 25,708 Posts
    • 10,218 Thanks
    forgotmyname
    • #8
    • 13th Sep 17, 7:12 PM
    • #8
    • 13th Sep 17, 7:12 PM
    Above is so wrong... Took out a policy where a claim was not disclosed. So the facts on the renewal would have been incorrect.

    Renewal may have been done before the system registered the claim.

    The insurer should have known but the renewal would have also said please check these facts.

    A bit of both but worth complaining.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • rs65
    • By rs65 13th Sep 17, 7:55 PM
    • 5,227 Posts
    • 2,483 Thanks
    rs65
    • #9
    • 13th Sep 17, 7:55 PM
    • #9
    • 13th Sep 17, 7:55 PM
    Yes I renewed March 21st after being burgled and reporting straight away on Feb 13th.

    They have pointed to the following terms:

    Adjustment term: i.imgur.com/ss1LDw8.png
    Can't cancel term: i.imgur.com/oQjCCyV.png
    Originally posted by eddablin
    You haven't claimed on the current policy. You are able to cancel this policy year.
    • eddablin
    • By eddablin 13th Sep 17, 9:10 PM
    • 8 Posts
    • 1 Thanks
    eddablin
    OK this is very interesting and thank you for pointing out. I will try this in my argument.

    I am a bit worried following forgotmyname's point on the facts on the schedule not being right. However, that is the new policy that I'm not claiming on. Shall be ringing tomorrow!
    • rs65
    • By rs65 13th Sep 17, 9:35 PM
    • 5,227 Posts
    • 2,483 Thanks
    rs65
    I am a bit worried following forgotmyname's point on the facts on the schedule not being right. However, that is the new policy that I'm not claiming on. Shall be ringing tomorrow!
    Originally posted by eddablin
    The facts were wrong but they can't say you withheld info, assuming you claimed in February. They would entitled to change the premium but can't stop you cancelling. Make sure you can get alternative cover first.
    • eddablin
    • By eddablin 14th Sep 17, 12:46 PM
    • 8 Posts
    • 1 Thanks
    eddablin
    Good news! Having raised a complaint, they have just called me back before I had a chance to call them and they have told me that I was misadvised. They are now letting me cancel, get a refund for the rest of the term and are waiving the cancellation!
    • rs65
    • By rs65 14th Sep 17, 7:41 PM
    • 5,227 Posts
    • 2,483 Thanks
    rs65
    Good news! Having raised a complaint, they have just called me back before I had a chance to call them and they have told me that I was misadvised. They are now letting me cancel, get a refund for the rest of the term and are waiving the cancellation!
    Originally posted by eddablin
    Result !!!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,713Posts Today

7,032Users online

Martin's Twitter
  • RT @thismorning: 'Sometimes the best gift is releasing somebody else from the obligation of having to give to you' says @MartinSLewis. Do y?

  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Follow Martin