Norwich Union

cullbaggie

Hi All, i insured my moped through Bennetts, who put it with Norwich union.
i had my moped stolen,now here is the problem!!
Norwich union tell me that they will only pay me 250pounds, but written into the policy is an involantry excess of 150pounds & 50pounds self excess, so i would only recieve 50pounds.then today recieved another call from them saying that they recomend that i drop the claim as it will affect my no claims bonus on my car, due to me having to tell my car insurer of this claim & will cost me more than the 50pounds in no claims loss with them.i do not see how when my car insurance is with a different insurer (Cornhill)
how the hell will this affect this???
any help would be grateful!

dunstonh

You have to notify all your vehicle insurers of the loss you have had. Otherwise it will invalidate your insurance.

woodys_wonders

I agree I am afraid. For £50 it is not worth it. You will loose some of your bike no claims bonus depending how many years you have and if you purchase another bike/moped you will have an increased premium.
You will also have to inform your motor insurers you have had a theft, you would have to check with them whether they would increase your motor premium due to this or not, depends on Insurer.

Sorry

LinasPilibaitisisbatman

Its a claim so of course its going to affect your other insurer

They ask if you have had a claim and you will have had, sadly your insurers are right here, and you cant really complain if you didnt know the proper excess's etc that would apply

People really need to learn to read and understand their policies on here and stop blaming the insurers for their thickness

Clive_Woody

cullbaggie wrote: »

Hi All, i insured my moped through Bennetts, who put it with Norwich union.
i had my moped stolen,now here is the problem!!
Norwich union tell me that they will only pay me 250pounds, but written into the policy is an involantry excess of 150pounds & 50pounds self excess, so i would only recieve 50pounds.then today recieved another call from them saying that they recomend that i drop the claim as it will affect my no claims bonus on my car, due to me having to tell my car insurer of this claim & will cost me more than the 50pounds in no claims loss with them.i do not see how when my car insurance is with a different insurer (Cornhill)
how the hell will this affect this???
any help would be grateful!

If you do drop the claim make sure you contact them and tell them that as the scooter is no longer in your possesion you wish to cancel the policy and have any outstanding premiums refunded.

agaveworm

Clive_Woody wrote: »

If you do drop the claim make sure you contact them and tell them that as the scooter is no longer in your possesion you wish to cancel the policy and have any outstanding premiums refunded.

Clever....:T

cullbaggie

Clive_Woody wrote: »

If you do drop the claim make sure you contact them and tell them that as the scooter is no longer in your possesion you wish to cancel the policy and have any outstanding premiums refunded.

not! i phoned this afternoon to do exactly that, cancel my policy as they were no longer covering anything!! i was told i was unable to do this, because i had started making a claim, that paper work had been started and worked upon. i could cancel if i paid half of the insurance premium! as i only have 2 months to run to the end, i will just not renew.got you everyway they can!!

raskazz

cullbaggie wrote: »

not! i phoned this afternoon to do exactly that, cancel my policy as they were no longer covering anything!! i was told i was unable to do this, because i had started making a claim, that paper work had been started and worked upon. i could cancel if i paid half of the insurance premium! as i only have 2 months to run to the end, i will just not renew.got you everyway they can!!

Seeing as they have dealt with the claim in exactly the same way as any other insurer would, why will you not renew with them? It's not their fault that you chose an inappropriate level of excess, is it?

cullbaggie

raskazz wrote: »

Seeing as they have dealt with the claim in exactly the same way as any other insurer would, why will you not renew with them? It's not their fault that you chose an inappropriate level of excess, is it?

Because i am not replacing the motorcycle that was stolen, as i cannot afford to!

raskazz

cullbaggie wrote: »

Because i am not replacing the motorcycle that was stolen, as i cannot afford to!

Fair enough. I took that to mean that you wouldn't do business with them come what may.

losgiganteskid

This is a classic case cullbagge of having the wrong insurance cover from kick off.

Many older bikes have such a low value that in the event of a theft claim the excess applicable to the policy virtually wipes out any indemnity payout - you need to be mindful of what the likely payout would be against the total value of any excess - clearly if you had known Third Party Only would have been the order of the day, so saving you the "fire & theft" premium of your policy.

A while ago Norwich Union would only provide Comp or TPF&T cover - Bennetts were one of the first intermediaries to introduce TPO cover, via their panel of insurers.

There was historically a very bad period for insurers on bike theft (still is) and the TPF&T premium kept escalating to offest these claims, the compulsory excess also kept increasing. Third Party Only then came into it's own for lower value bikes. I recall on many occassions Norwich Union would decide the value of the stolen bike at a amount equal to or often less than the excess so there was infact no payout - and subsequently the policyholder had been paying a fire & theft premium for no reason whatsoever.

There is a lesson to be learnt here - me thinks.