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The Nationwide travel insurance "giveaway"
rsteed
Posts: 4 Newbie
I have just received the (rather mediocre) travel insurance which Nationwide is signing up qualifying FlexAccount customers to - whether they want it or not.
This throws up a possible problem: I already have a comprehensive travel insurance policy, and one of the claims conditions states:
This insurance policy does not cover any claim which, but for the existence of this insurance, would be
covered under any other insurance policy(ies). This includes any amounts recovered by you from private
health insurance, EHIC payments, any reciprocal health agreements, airlines, hotels, home contents
insurers or any other recovery by you which is the basis of a claim. If, at the time of making a claim, we
decide to settle our liability under your policy and there is another policy covering the same risk, we will
be entitled to contact that insurer for a contribution under our rights of subrogation.
This seems to open the possibility of some lengthy claim wrangling, maybe even the chance of a refusal to pay out if an agreement cannot be reached.
What do you think? Should I send the Nationwide policy back immediately for cancellation?
Should Nationwide be advising customers of this risk?
Or should they be sending out "free" policies at all to people who haven't requested them?
This throws up a possible problem: I already have a comprehensive travel insurance policy, and one of the claims conditions states:
This insurance policy does not cover any claim which, but for the existence of this insurance, would be
covered under any other insurance policy(ies). This includes any amounts recovered by you from private
health insurance, EHIC payments, any reciprocal health agreements, airlines, hotels, home contents
insurers or any other recovery by you which is the basis of a claim. If, at the time of making a claim, we
decide to settle our liability under your policy and there is another policy covering the same risk, we will
be entitled to contact that insurer for a contribution under our rights of subrogation.
This seems to open the possibility of some lengthy claim wrangling, maybe even the chance of a refusal to pay out if an agreement cannot be reached.
What do you think? Should I send the Nationwide policy back immediately for cancellation?
Should Nationwide be advising customers of this risk?
Or should they be sending out "free" policies at all to people who haven't requested them?
0
Comments
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As it's unsolicited, if you don't want it just bin it - why should you waste time/money returning it to them for cancellation?0
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As it's unsolicited, if you don't want it just bin it - why should you waste time/money returning it to them for cancellation?
Because there is the danger another insurer will say - you are covered by your Nationwide policy, we are not paying you for a risk that is already insured.0 -
As it's unsolicited, if you don't want it just bin it - why should you waste time/money returning it to them for cancellation?
How do you work out it's unsolicited?
It's a change in the t&c's of the account.
You can cancel the account, or stop paying money in, but you can't pick and choose which bits you like otherwise.0 -
How do you work out it's unsolicited?
Because the customer didn't ask for it!
They are sending out these policies as junk mail, no individual policy number, just a phone number to ring to make a claim. No-one could prove you received one - so it's easier to bin it with the rest of the junk mail if you don't want it.0 -
hi can anyone advise best travel insurance for my son who is travelling ( back packing) to south east asia in September.
Ta carole0 -
Plenty of scope for fun+games though - as there's a minimum funding requirement, is the insurance cancelled from (eg) the 1st of the month if you underfund, or 1st of the following month even if you then fully fund that month?Having a Nationwide account might be sufficient proof
Example - if you deposit £600 in Sept, £800 in Oct, £600 in Nov, are you only insured in October, or never insured as average deposit less than £750..?0 -
Plenty of scope for fun+games though - as there's a minimum funding requirement, is the insurance cancelled from (eg) the 1st of the month if you underfund, or 1st of the following month even if you then fully fund that month?
Example - if you deposit £600 in Sept, £800 in Oct, £600 in Nov, are you only insured in October, or never insured as average deposit less than £750..?
No, it's in the t&c's, if they are going to cancel for underfunding, they will inform you before they do, in writing.Because the customer didn't ask for it!
They are sending out these policies as junk mail, no individual policy number, just a phone number to ring to make a claim. No-one could prove you received one - so it's easier to bin it with the rest of the junk mail if you don't want it.
You call it junk mail, my notification from the Nationwide didn't, so I think I'll believe them in this case, and accept it as a valid change they have given me proper notification about.
I suppose you could say the introduction of a change to charge for withdrawals abroad wasn't received at the same time, so they can't charge you, but I don't think they would go for that either.0 -
My notification about the travel insurance also mentioned the change to overseas withdrawals further down the letter.0
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If you don't like the way they operate then perhaps it's time to find another bank/building society.
We are dumping our Nationwide Flexaccount about November, because of the increased charges abroad.0
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