The Sub Prime Credit Thread - Part IV

ElkyElky

Zack1 wrote: »

Morning all!

Haha insurance replaced my phone as it was damaged beyond repair apparently! Just hope it gets here today, I paid the excess at 3:30pm on Monday (while in Pizza Hut with my friends who were taking down my card details on their phones!) so I was hoping it would be sent then and arrive yesterday but it didn't so hopefully it gets here today...

If I move insurance company would I have to declare I've had 2 claims in 3 months for £300+ phones? And how would I do that? Or if it doesn't ask do I not have to say? I don't want to need to claim and be told my insurance is void due to missing information (a favourite of insurance companies I've heard) but I can't stay with Endsleigh as they said they're going to seriously whack up my policy price and the excess - it's £50 excess as it is so I'm not paying more and a higher policy cost!!

And on that note, can anyone recommend any good ones? I like Endsleigh as they have the student option, but I can't really go back to them so need someone else!

Yes you will have to declare all claims. Insurance companies have their own fraud systems and databases (similar to the CRA's), which logs all claims and such on a central database. Insurance companies search these records when you sign up for a product.

When you sign up for a new policy, it will ask you if you've claimed within the last xx years, and that'll bump up the price.

Lying on any new insurance policies will most certainly gain you a CIFAS, not to mention it invalidating your policy.

bev309

Zack1 wrote: »

If I move insurance company would I have to declare I've had 2 claims in 3 months for £300+ phones? And how would I do that? Or if it doesn't ask do I not have to say? I don't want to need to claim and be told my insurance is void due to missing information (a favourite of insurance companies I've heard) but I can't stay with Endsleigh as they said they're going to seriously whack up my policy price and the excess - it's £50 excess as it is so I'm not paying more and a higher policy cost!!

And on that note, can anyone recommend any good ones? I like Endsleigh as they have the student option, but I can't really go back to them so need someone else!

If you move insurance company mid term, as you have made a claim, they may ask for the remainder of the yearly premium (if it in a yearly contract)to be paid in full. Just something to check on.

seeya23

well it was a no from ltsb oh well

Zack1

ElkyElky wrote: »

Yes you will have to declare all claims. Insurance companies have their own fraud systems and databases (similar to the CRA's), which logs all claims and such on a central database. Insurance companies search these records when you sign up for a product.

Lying on any new insurance policies will most certainly gain you a CIFAS.

Thanks, yea I thought there would be some kinda of database, but the guy that grilled me the other day asked and I said about my previous claim (which he obviously knew about) and then he asked on other policys etc, and if I had it double-insured with o2 as well or anything like that.

I wasn't planning on lying or anything - and I want to do accounting, insurance fraud isn't going to go down too well in any kind of potential auditing career when they credit search you! And I know uni throw you out if you become "unsuitable for your profession" during the course of your studies, I'm not even fully in yet so don't want to be doing anything stupid like that!

I just don't recall being asked if I had had any previous claims when I signed up for this policy in the summer, so wondered if I'm not asked would I have to write in and tell them or what?

I got grilled by the fraud team though for this loss. But they paid out as the loss was genuine, and the damaged phone was sent to them to be inspected and they say it was unrepairable and are giving me a new one, so they obviously agree with that accidental damage too (good job too or I'd kick up a right fuss if they didn't!). It's just the value of the phones that made them grill me after the 2nd claim I guess - I know they are valued at about £350 each because of the touchscreen, the actual replacement cost wouldn't be that though and they've come down in price since, but we are still talking several hundred pounds in a few months.

But yea I will declare it if I'm asked, just wasn't sure if I was going to be asked or not. I'd rather pay more for declaring it than try and save myself a bit of money (it's not my money anyway, it's SLC's :rotfl:) and potentially get CIFAS (and so being screwed when financial based employers credit search me) and a possible criminal record etc, plus obviously invalidating my insurance should I need to claim.

Zack1

bev309 wrote: »

If you move insurance company mid term, as you have made a claim, they may ask for the remainder of the yearly premium (if it in a yearly contract)to be paid in full. Just something to check on.

Ah yea thanks, that's a good point. Luckily they make us pay in advance, it's Student Halls insurance and my hall has basic cover included in rent, so I paid £30 ish to add mobile protection which was valid until end of Sept 2010. I then claimed so they said I had to pay another £30+ (I think they put it up slightly due to the claim) to reinstate cover, but it still only lasts until Sept 2010. So I paid that and now they will want paying again. That's why I was guessing once I've got my replacement I'm ok to ditch them rather than pay to reinstate it, and just look at insurance with other providers. Will find out how much they're asking for, but the fraud guy said it would be "significantly more", which, with it only being valid until September, isn't worth it

wizzywig27

How random, I have just bought some good from Jacamo, went straight to the site, and the kind folk that are JDW Group decided to track it on Quidco, not entirely sure why they have as I didnt go through the site, but I aint complaining!

Zack1

wizzywig27 wrote: »

How random, I have just bought some good from Jacamo, went straight to the site, and the kind folk that are JDW Group decided to track it on Quidco, not entirely sure why they have as I didnt go through the site, but I aint complaining!

Hahaha, awesome! But it may well be rejected when it comes to payouts Hopefully not though!

Oohh that reminds me, my England top should be here today, so I'm not going to get too excited if I see my name on the parcel list, as it might not be my phone!!

wizzywig27

Zack1 wrote: »

Hahaha, awesome! But it may well be rejected when it comes to payouts Hopefully not though!

Oohh that reminds me, my England top should be here today, so I'm not going to get too excited if I see my name on the parcel list, as it might not be my phone!!

what phone mate?

Zack1

wizzywig27 wrote: »

what phone mate?

LG Crystal again I think. I insured a LG Arena, but for some reason insurance don't stock that anymore (even though it's in all the normal shops) so they replaced the first one with a Crystal so I'm assuming they will do the same again now too

wizzywig27

Zack1 wrote: »

LG Crystal again I think. I insured a LG Arena, but for some reason insurance don't stock that anymore (even though it's in all the normal shops) so they replaced the first one with a Crystal so I'm assuming they will do the same again now too

LG's are horrible phones I had one not so long ago, took it back (this was during the period of losing my iPhone and waiting for insurance to pay out on new one)