Lost Mobile on Home Insurance

moneybairn

Hi,

I lost my Samsung galaxy s3 recently and have primarily put in a claim to replace it on my home insurance(I don't have mobile insurance, or bank insurance etc) I have only had the phone 6 months and still have the contract for 18 months.

I will need to pay £100 excess and lose 2 years of my ncd which is around 10% of my discount but they couldn't say how it would affect my premium.

I am beginning to wonder if I should cancel my claim? Has anyone used their home insurance to claim a lost mobile and how did it affect their renewal? I have read a few differing things about its not affected claims but others says it has. btw I have never claimed on house insurance before for anything.

Any advice appreciated. Cheers.

Valli

Not a good idea to post the same query in two parts of the forum.

moneybairn

newbie mistake. apologies.

rs65

Try anonymous dummy quotes on a comparison site to see the difference it will make.

Valli

moneybairn wrote: »

newbie mistake. apologies.

Not to worry - we all have to learn.

Suggest you try what the poster after me said;)

If I were insuring a mobile I would probably try a stand-alone policy, just for the gadget, too, as the risk of accidental damage/loss/theft is so much higher, given you carry the things around!

Some bank accounts also offer cover. It's a case of getting all the info then making a decision. A colleague of mine cancelled her phone (i phone) policy because she hadn't claimed in a year and then promptly lost her phone in a pub a week later! Cost her £400+ to replace!

keith1950

I will need to pay £100 excess and lose 2 years of my ncd which is around 10% of my discount but they couldn't say how it would affect my premium.

Hi, also remember that as well as the premium being higher because of the loss of your NCD , the premium will also be loaded because you will now be considered to be a higher risk ( statistically ) !

dacouch

Valli wrote: »

Not to worry - we all have to learn.

Suggest you try what the poster after me said;)

If I were insuring a mobile I would probably try a stand-alone policy, just for the gadget, too, as the risk of accidental damage/loss/theft is so much higher, given you carry the things around!

Some bank accounts also offer cover. It's a case of getting all the info then making a decision. A colleague of mine cancelled her phone (i phone) policy because she hadn't claimed in a year and then promptly lost her phone in a pub a week later! Cost her £400+ to replace!

Although there's a good chance your friend's stand alone policy would not have covered her for losing it in a pub anyway

moneybairn

Looks like I could shift provider to remain on roughly the same price according to confused.

I wouldn't be too bothered if premium went up by a few quid each month, I just don't want a huge jump.

Anyone else got any experience of this?

InsideInsurance

moneybairn wrote: »

I will need to pay £100 excess and lose 2 years of my ncd which is around 10% of my discount but they couldn't say how it would affect my premium.

Double check the above, never heard of losing part of your NCD for Home Insurance (plus it is not a well developed concept in Home).

Ultimately do dummy quotes and see how it works out for you, generally home insurance is for bigger incidents but having informed your insurers of it then you must note the "incident" in all future quotes for the next 3-5 years

moneybairn

InsideInsurance wrote: »

Double check the above, never heard of losing part of your NCD for Home Insurance (plus it is not a well developed concept in Home).

Ultimately do dummy quotes and see how it works out for you, generally home insurance is for bigger incidents but having informed your insurers of it then you must note the "incident" in all future quotes for the next 3-5 years

That's what the company are saying, I will lose around 2 years ncd. Would I lose all the ncd?

Also why do I need to inform insurers of it, if I was to cancel my claim?

Is anyone of the opinion that you pay your premiums so you may as well use your insurance?

InsideInsurance

moneybairn wrote: »

That's what the company are saying, I will lose around 2 years ncd. Would I lose all the ncd?

Also why do I need to inform insurers of it, if I was to cancel my claim?

Is anyone of the opinion that you pay your premiums so you may as well use your insurance?

If they say its 2 years you lose then thats what it'll be with them. As I said in my original post, most home insurers simply ask for claims history and have no concept of "NCD". For those you'd lose everything if you were to proceed with a claim.

Ultimately you need to read the question asked but some insurers don't ask about claims but instead about "incidents" whether claimed for or not. On the basis that this is potentially now on CUE you would really need to declare this. It'd also be sensible to check how it'll be registered on CUE as it may well be shown as a claim with a £0 settlement and so would be declarable as a claim.


Only people with very deep pockets would consider it sensible to make every possible claim. The concept of insurance is to deal with unpredictable events. The reality is that inevitably in life you are going to break the occasional object, lose the occasional phone/ bag/ wallet etc and so these arent really the types of events that insurance is there for. Its much more the house being broken into, flood, fire etc where you lose a batch of items at once