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  • FIRST POST
    yiyidiscodiva
    Insurance Claim Payment: Vouchers
    • #1
    • 5th Mar 08, 1:07 PM
    Insurance Claim Payment: Vouchers 5th Mar 08 at 1:07 PM
    Hello All,

    I'm a new member - hope someone can help me.

    A couple of months ago whilst we were away, our header tank, which is stored in the loft, leaked through the house. The damage was very bad.

    Two ceilings will need to be replaced and the rooms redecorated.
    The carpet in two rooms plus hall/stairs/landing will have to be replaced.
    Several pieces of yew furniture are damaged.
    One oriental carpet is beyond restoration.
    Plus a number of lamps, clocks and a radio.

    So as you can see a lot of damage and we are running into mega bucks.

    I advised the loss adjuster, when they visited, that I want to organise the quotations etc myself but that apart from the bed, I would not be in a position to do anything about it until after April. The adjuster agreed.

    Over the course of the last couple of days, I've had two lots of Independant Valuers, turn up on my door step. No previous appointment made. My insurance company say that this is normal procedure.

    More importantly and this is the main reason I'm writing; I was told today by this Independant Valuer that I will be issued with vouchers that I can use to spend in a store accredited to the insurance company.

    Do I have to accept these vouchers by law? Of course I would prefer to have the cash because I just bet that the shops accredited to the insurance company are much higher priced than the shops I would use. Also, my insurance payments were made in cash - not vouchers!

    Greatful to anyone who can help me with this question, please.

    Yiyi.
Page 1
    • Quentin
    • By Quentin 5th Mar 08, 1:52 PM
    • 29,032 Posts
    • 13,367 Thanks
    Quentin
    • #2
    • 5th Mar 08, 1:52 PM
    • #2
    • 5th Mar 08, 1:52 PM
    Unless your policy states otherwise (which is unlikely) they cannot make you accept vouchers.

    Tell your insurance company you don't want them, and that you will pursue the matter all the way to the ombudsman if necessary.

    (Not Argos vouchers by any chance?)
  • yiyidiscodiva
    • #3
    • 5th Mar 08, 5:09 PM
    • #3
    • 5th Mar 08, 5:09 PM
    Quentin

    I've read through my policy a couple of times and I can't see anything written about a voucher system.

    Thanks for your help.
    YiYi
    • FlameCloud
    • By FlameCloud 5th Mar 08, 5:18 PM
    • 1,744 Posts
    • 802 Thanks
    FlameCloud
    • #4
    • 5th Mar 08, 5:18 PM
    • #4
    • 5th Mar 08, 5:18 PM
    Unless your policy states otherwise (which is unlikely) they cannot make you accept vouchers.

    Tell your insurance company you don't want them, and that you will pursue the matter all the way to the ombudsman if necessary.

    (Not Argos vouchers by any chance?)
    Originally posted by Quentin

    The policy will include a section that details how they settle claims. I would be shocked if it placed the option of settlement in the hands of the policy holder.
    • Quentin
    • By Quentin 5th Mar 08, 5:24 PM
    • 29,032 Posts
    • 13,367 Thanks
    Quentin
    • #5
    • 5th Mar 08, 5:24 PM
    • #5
    • 5th Mar 08, 5:24 PM
    That doesn't preclude them from trying to fob a policyholder off with vouchers.

    If he doesn't want them he doesn't have to have them - unless of course his policy says otherwise!

    So of course he should make it clear he's not interested.
  • tinkerbell84
    • #6
    • 5th Mar 08, 5:27 PM
    • #6
    • 5th Mar 08, 5:27 PM
    You'll no doubt get less cash than the voucher value though.

    Why shouldn' they settle with vouchers? You need to replace stuff, they send you vouchers, you buy the new stuff with the vouchers :confused:
  • mattymoo
    • #7
    • 5th Mar 08, 6:48 PM
    • #7
    • 5th Mar 08, 6:48 PM
    This page might help a bit.
    http://www.financial-ombudsman.org.uk/publications/ombudsman-news/10/oct-repair-replace-cash.htm
    • Quentin
    • By Quentin 5th Mar 08, 7:10 PM
    • 29,032 Posts
    • 13,367 Thanks
    Quentin
    • #8
    • 5th Mar 08, 7:10 PM
    • #8
    • 5th Mar 08, 7:10 PM
    Why shouldn' they settle with vouchers
    Originally posted by tinkerbell84
    A very simple answer to that.

    Do I look the sort who shops at Argos for all my household goods?

    Please give me the money so that I can do my shopping at Harrods as normal!
    • lisyloo
    • By lisyloo 6th Mar 08, 9:26 AM
    • 20,557 Posts
    • 9,662 Thanks
    lisyloo
    • #9
    • 6th Mar 08, 9:26 AM
    • #9
    • 6th Mar 08, 9:26 AM
    Why shouldn' they settle with vouchers?
    The OP mentions yew furniture and oriental carpet.
    I am not furnishings expert but it does not sound to me like the kind of thing you get at Argos.

    I don't know what it says in the contract but I believe the idea is to replace your goods.
    If you simply can't replace your goods at the establishment of the insurers choice then I would have thought that the insurer are not carrying out their obligations.

    The insurers do this because they get a discount from Argos (or whoever supplies the vouchers).

    I would personally be happy to take the vouchers if I could supply suitable replacements at the establishment for the amount given.
    Otherwise I'd insist they complay with their obligations in the contract.
  • yiyidiscodiva
    Hi all

    Just to stop a little of the confusion here. My Insurance Company have not offered to give me Argos Vouchers - I think the Argos confusion came about from the 1st or 2nd response to my thread, when I was asked if I was offered Argos vouchers.

    Nevertheless, they are vouchers which must be used in designated shops appointed by the insurance company. To my mind this would not put me in a very strong purchasing position. I pride myself in driving a hard bargin for anything of high value that I buy. These stores normally have a much higher mark-up on their goods and although I have absolutelly no way of proving it - I bet the insurance company get a cut.

    What do you all think?
    • lisyloo
    • By lisyloo 6th Mar 08, 3:06 PM
    • 20,557 Posts
    • 9,662 Thanks
    lisyloo
    What do you all think?
    Can you replace your goods with the vouchers given?

    If the items are available (or suitable replacements) and they have given you enough to cover it and it's not inconvenient to get to the stores then I don't see why you have a problem.
    It might not be the normal way you purchase things but you are now spending their money not your own.

    I think you are right about the discount, but as a customer wouldn't you want them to take all reasonable steps to cut back costs?
    Also it reduces fraud, which is also of benefit to you in keeping down premiums.

    The nub of the issue is whether you can replace the goods with the vouchers provided without huge inconvenince, lack of choice, or shortfall in the amount.
    • derrick
    • By derrick 6th Mar 08, 3:26 PM
    • 6,738 Posts
    • 2,195 Thanks
    derrick
    I wonder if the insurance company would accept vouchers for the policy premium, some how I very much doubt it!
    Don`t steal - the Government doesn`t like the competition


  • yiyidiscodiva
    At this point in time, I don't know if I can replace the goods for the vouchers yet but by the time I find out I will be out of options!

    I don't believe I'm spending their money at all. It's actually mine, I've been paying in for years for just exactly this sort safeguard.

    The problem is not one of discounts - but rather with the vastly inflated prices that I just know I'm going to be paying with my vouchers. I know if I were to insist on cash its likely I would have to take a cut in the amount that I'm offered. However, I would be happy to do that, because I know I can buy the replacements at a far more reasonable price than their appointed outlets charge.

    I wish I could beleive that by reducing fraudulent claims the cost would be passed on to me the customer. I know for sure that next year I will have to pay a higher premium anyways because of my claim this year.

    And derrick, those are my sentiments too and I will use it in my negotiations with them.
  • bigbobjoylove
    I presume the vouchers for the carpet are from "independant inspections"
    HOW IT WORKS IS THAT THE VALUER FINDS THE LOWEST PRICE POSSIBLE FOR YOUR QUALITY OF CARPET AND GIVES YOU A VOUCHER FOR THAT AMOUNT.YOU ALSO RECEIVE A LIST OF RETAILERS IN YOUR AREA AND ARE LED TO BELEIVE THAT YOU HAVE TO GO TO THEM,THIS IS NOT THE CASE,RETAILERS ON THE LIST PAY FOR INCLUSION.YOU GO TO A RETAILER ON THE LIST SHOW THE VOUCHER FIRST,PRE-WARNING THEM ,AND CHOOSE A CARPET.THESE RETAILERS THEN GIVE YOU A LARGER QUOTE AND SAY THAT U HAVE TO PAY THE EXTRA OR SELL YOU A CHEAPER CARPET.
    THE REASON FOR THIS IS THAT THEY ALSO HAVE TO GIVE A DISCOUNT ON THE UNDERVALUED CARPET TO THE INSURANCE COMPANY. THIS IS APPROX 12%.YOU COULD ASK THE INS CO FOR A CASH SETTLEMENT BUT THIS WOULD ALSO BE SUBJECT TO THE 12% DISCOUNT.THEY WON'T PAY FOR UPLIFT ,DISPOSE JUST THE LOWEST PRICE THEY CAN GET ANYWHERE AND QUITE OFTEN THEY DON'T EVEN KNOW WHAT THE CARPET IS
  • CherylD
    Insurance Claim Payment Voucners Independant Inspections
    Hi

    I have a voucher from Independant Inspections to replace damaged carpets The suppliers they list locally are not suppliers I would normally use and as other posters have correctly stated, more expensive than other retailers such as John Lewis where most of my carpets have been purchased.. I have even found a web supplier which is 10 per sq.metre cheaper.

    I actually want to replace part of the carpet with a wooden floor and wouldn't buy both from the same retailer which is a further complication with the voucher.

    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!
  • rhiwfield
    Hi, I had an underfloor leak this year and had to replace flooring in several rooms. I was offered a voucher from independent inspections by the loss adjusters OR a cash settlement at a 15% discount. I'd spoken to one or two of the allowed suppliers and it seemed as if I would pay over the odds if I used them so I took the cash. I was able to negotiate discounts at the store of my choice rather than accept take it or leave it quotes because I was tied in. I also noticed that one of the suppliers listed had gone bust!

    Hi

    I have a voucher from Independant Inspections to replace damaged carpets The suppliers they list locally are not suppliers I would normally use and as other posters have correctly stated, more expensive than other retailers such as John Lewis where most of my carpets have been purchased.. I have even found a web supplier which is 10 per sq.metre cheaper.

    I actually want to replace part of the carpet with a wooden floor and wouldn't buy both from the same retailer which is a further complication with the voucher.

    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!
    Originally posted by CherylD
  • CherylD
    By the way the Insurance Company is LV
    • lisyloo
    • By lisyloo 12th Dec 08, 1:35 PM
    • 20,557 Posts
    • 9,662 Thanks
    lisyloo
    [QUOTE}Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative?[/QUOTE]

    What does it say on your policy?

    If your policy says you are entitled to replacement and the voucher system CAN be used for replacement then that seems fine.
    You might want cash or something else, but I suspect you aren't entitled to it, but you would need to check your policy to know for sure.
    • FlameCloud
    • By FlameCloud 13th Dec 08, 8:48 AM
    • 1,744 Posts
    • 802 Thanks
    FlameCloud
    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!
    Originally posted by CherylD
    If you can obtain quotes from other companies to do what you like and they are cheaper than the II quote, there is no reason why any reasonable adjuster would say no- I prefer sorting things out this way as there is less comeback if they muck the floor up putting it in!
    • papi34
    • By papi34 2nd Feb 09, 8:19 PM
    • 93 Posts
    • 15 Thanks
    papi34
    Independant Insurance..loss valuers
    Hi

    I am having to make a claim on a living room carpet. The damage is in the living room but the carpet goes through into a dining area.

    I read with interest on this forum that Independant Insurance (who are the appointed loss adjusters)will give a voucher for the cost of the work. Or should I negoitiate a cash settlement to replace the carpet.

    The original cost of the carpet was around 600 plus fitting

    My insurance is with Tesco Insurance
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