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  • halibut2209
    halibut2209 Posts: 4,250 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 6 March 2011 at 12:36AM
    Flyboy152 wrote: »
    I blooming hope not, otherwise we have stepped into a time warp somewhere. ;)



    Are you sure?

    Yes, well done. Someone accidentally said TSB instead of LloydsTSB.
    One important thing to remember is that when you get to the end of this sentence, you'll realise it's just my sig.
  • squeaky
    squeaky Posts: 14,129 Forumite
    10,000 Posts Combo Breaker
    Flyboy152 wrote: »
    What I don't understand is, why cancel the other policy? That doesn't make sense.

    Perhaps because a customer is more likely to notice two charges for policies than they are a single change in their "normal" one?
    Hi, I'm a Board Guide on the Old Style and the Consumer Rights boards which means I'm a volunteer to help the boards run smoothly and can move and merge posts there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com. It is not part of my role to deal with reportable posts. Any views are mine and are not the official line of MoneySavingExpert.
    Never ascribe to malice that which is adequately explained by incompetence.
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  • Flyboy152
    Flyboy152 Posts: 17,118 Forumite
    The two companies are totally unconnected. Would it not have been less conspicuous to not have the other compnay inform the policyholders of the changes?
    The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark
  • squeaky
    squeaky Posts: 14,129 Forumite
    10,000 Posts Combo Breaker
    Beats me. Presumably the bank employee who did this had a reason - but like you I have no idea what it was.
    Hi, I'm a Board Guide on the Old Style and the Consumer Rights boards which means I'm a volunteer to help the boards run smoothly and can move and merge posts there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com. It is not part of my role to deal with reportable posts. Any views are mine and are not the official line of MoneySavingExpert.
    Never ascribe to malice that which is adequately explained by incompetence.
    DTFAC: Y.T.D = £5.20 Apr £0.50
  • unholyangel
    unholyangel Posts: 16,866 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 6 March 2011 at 2:06PM
    Flyboy152 wrote: »
    What law would that come under?

    Not quite sure about the offense part (possibly fraud?). Anytime i've read my insurance policy documents there has always been a clause that they are the only insurance providers and that if a 2nd policy is in place it voids your insurance.

    Insurance companies dont like paying out at all, never mind 2 of them paying out for the same claim.

    To add to a post up the page, if the insurers are aware of it then surely wouldnt be a problem but if the person didnt make them aware of it and if they had a clause like the one i mentioned, it would mean they could treat the policy as if it never existed as it was not the basis that they had provided the insurance on.
    You keep using that word. I do not think it means what you think it means - Inigo Montoya, The Princess Bride
  • Flyboy152
    Flyboy152 Posts: 17,118 Forumite
    unholyangel wrote: »
    Not quite sure about the offense part (possibly fraud?). Anytime i've read my insurance policy documents there has always been a clause that they are the only insurance providers and that if a 2nd policy is in place it voids your insurance.

    Insurance companies dont like paying out at all, never mind 2 of them paying out for the same claim.

    To add to a post up the page, if the insurers are aware of it then surely wouldnt be a problem but if the person didnt make them aware of it and if they had a clause like the one i mentioned, it would mean they could treat the policy as if it never existed as it was not the basis that they had provided the insurance on.

    There is no law against having two insurance policies. I have several policies that pay out if I die, for instance.

    For example, you could have a policy that covers contents, then another policy with another insurer that covers the building. Very often, the policies overlap on things like carpets and decor, the insurers would not cancel their policies because they cover both things. What is more likely, is that the two insurers will decide between them who is liable.
    The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark
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