HELP lloyds tsb insurance problem

Morgan_Darkstar

Hi my grandparents have recently made a claim on their home insurance for damage to a laptop this was their first home insurance claim ever, now after 3 weeks of wrangling and two separate insurance quotes, lloyds tsb have finally decided to accept the claim..

however we have run into another problem the laptop was £1600 as it was a gaming laptop and the insurance company who seem to operate as a subsidiary to lloyds tsb. "think it was ncs insurance" are only willing to replace with £530,

my grandad will not accept anything less than £1000

he is now thinking about complaining and canceling his insurance and moving all of his accounts and savings with lloyds tsb to someone else

Any suggestions

magpiecottage

A complaint is fairly straightforward. He just needs to say he is dissatisfied and wants it referred to their complaints procedure.

What they will pay depends both on a number of factors. This includes what, if any, advice was given when the policy was taken out.

The policy is likely to be on a new for old basis but that will not mean you get £1,600. Rather, you get the cost of a replacement of the same specification. If, for example, you claimed now for the loss of a 10 year old machine running Windows 2000 which cost £3,000, you cannot expect a £3,000 replacement running Windows 7 today.

huckster

Hi

If the policy is on a 'new for old' basis, which I think lloyds TSB policies should be, then they should replace the laptop, with one of a similar specification.

Suggest that they phone Lloyds TSB Home Insurance and make a complaint. Tell them the make/model of the model of the lost laptop and the specification. LTSB, should be able to find out what laptops would be a 'like for like' replacement and the cost of obtaining one.

Your grandparents cannot insist upon having the claim settled for a certain value. The settlement will be purely for the value necessary to replace with a 'like for like' laptop. The prices of these have come down a lot in the last few years.

adamc260

Or even check the specification of the one they have 'recommended' to make sure its on par, if it isn't you have that to back your complaint up with as well

I know its a lot of trouble but try find some ones that ARE and ones he would be happy with and negotiate from there

Morgan_Darkstar

well this is the one they offered.

HP Pavilion dv7-3101sa
(WA153EA) (£543.97)


This is the one my grandad would like

ASUS G73JH-TZ008V (£1699)




this is the one he would be willing to accept

Qosmio X500-134 (£1299)



p.s the original laptop was a toshiba qosmio but that model was discontinued although still valued at £1600 to buy New.

would have posted links but the site won't let me.

xMonsoonx

they will only replace/settle on like for like specs not original costs.

You haven't said how old the laptop was but prices and technology change quickly, what was good even a year ago is only average now.

Sparx

What were the specs of it? Processor, memory (RAM), hard drive, graphics card, screen size? ..

dunstonh

Laptop prices have dropped big time in recent years. £1600 two years ago would be around 1/3rd of that now.

Is the financial replacement figure after excess? i.e. is the £534 after the excess is paid or before?

Morgan_Darkstar

Toshiba Qosmio G10

processor Pentium M 2.0 GHz

17" Screen

1 Gig DDR Ram
(Expanded to 2 Gig DDR insurance will not take this into account)

NVDIA GO6600 Graphics card

built-in Harman Kardon stereo speakers
manufacturer : Analog Devices with SRS TruSurround XT™ System

and excess has not been mentioned.

dunstonh

I'm afraid that specification is ancient in computer terms. £530 actually sounds generous. There is no way that a modern £1800 or so laptop would be a suitable replacement.

Morgan_Darkstar

i aggree the base specs of the laptop are poor hovever the computer was bought as a gaming comp and the graphics card still retails about the £400-£450 mark alone.