SIMPLY BUSINESS Plant & Machinery Insurance

hayls23

Well here's one for you Martin...!

We have our Business Insurance with a company called Simply Business. Basically this is for Plant & Machinery, Public liability, employers liability, tols etc etc..

About 3 weeks ago we sadly had all 4 wheels/tyres stolen off our 9 tonne dumper.

So, as you do, you ring your insurance company/broker to report the claim and left it with them. Police were notified and Crime scene lot came out took photos etc.

A few days later this is the email we received..

Good morning Mr Kennerley,

I refer to the above incident and to our telephone conversation earlier this morning .

I understand that you have suffered the theft of 4 wheels from your dumper and that the cost of replacing each wheel will be approximately £1,200.

As discussed it is a condition stated in your policy precedent to our liability that each and every item of your plantwith an individual sum insuredin excess of £2500 is registered by Buckley Scott Associates Limited. Given that the value of your dumper exceeds this amount I regret to advise that I am unable to recommend any financial assistance on this occasion. The full condition wording can be found on page 54 of your policy booklet under heading CW3.1 Contractors Plant Registration.

I understand that this will be a disappointing outcome but trust the reasoning is clear. Please do not hesitate to contact me at any time should you wish to discuss any aspect of your claim further.

Kind regards,

Graham Herriot
Internal Claims Adjuster
Riverstone Insurance Glasgow Claims Service Centre
Direct Dial: 0141 229 7924
Fax: 0141 229 7017
Email : [EMAIL="ril.technical@crawco.co.uk"]ril.technical@crawco.co.uk[/EMAIL]

So basically the brokers took our money, emailed all of the policy documents & never told us about this little loop hole to our insurance! The dumper was purchased for around £12,500 & our excavator £40,000.

If either of these pieces of machinery had been stolen we wouldnt have been covered, £260 per month completely down the drain!

The policy booklet in which this was stated is 60 pages long and its hidden on page 53. No where else, not in the cover letter, not on any email correspondance or anywhere.

I have just written my 1st (probably of many) complaints letter to them..

Any views back would be very greateful as Simply Business just don't want to know.

HappyMJ

But it IS in the terms and conditions of the policy...which you didn't read on page 53.

hayls23

I guess theres a lot in the policy booklet.. My argument is its the brokers job to follow all avenues up, otherwise why use one?

FlameCloud

What does Martin need to do? Campaign to get you to read your policy?

The only line of complaint you have is against the broker, he should have given you a demands and needs statement- did you read that?

A limit of declaration is common on plant policies.

InsideInsurance

How did you buy the insurance with Simply Business? On the phone or online?

Just because it is a broker doesnt automatically mean it is an advised sale. If its non-advised then the onus is much more on yourself to ensure it is appropriate to your needs in conjunction with the Demands & Needs document

hayls23

No demands and needs statement? But thanks ill pop that in my letter to the broker, as you say thats who my quarm is with yes.. Was just after some other info from people who have experienced similar things thank you. No need for sarcasm

dacouch

£260 a month for that amount of plant, tools and liability cover is very cheap.

I assume this was bought online.

I strongly recommend you review the levels of cover and pay particular attention to the amounts you have declared for turnover and wages especially for "labour only subcontractors"