I feel I have been mis-sold ?

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
39 replies 4.3K views
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  • edited 1 September 2016 at 4:08PM
    KJSmithKJSmith Forumite
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    edited 1 September 2016 at 4:08PM
    dunstonh wrote: »
    All policies cover laptops under standard cover. However, they dont cover accidental damage under standard cover.

    Laptop is stolen - standard cover
    Laptop is dropped - accidental cover required
    Laptop stolen or lost outside of the home - personal possessions cover required.

    This is why I am focusing on this point. It is quite possible that there was no accidental damage cover on the original Lloyds policy and that followed through onto the new policy.

    In general. But Lloyds Home Options and Home Solutions products cover accidental damage to laptops under standard contents cover.
    mattk_180 wrote: »
    Agree exactly with what dunstonh has said.


    Also worth pointing out that "Lloyds have policies" - yes, policies, not policy. Even if it is covered as standard in one of their policies, doesn't mean it's covered in all of them.


    All dunstonh is doing is trying to get the facts in order to help so the OP doesn't go in all guns blazing without a leg to stand on.

    Accidental damage to laptops is covered as standard in their Home Options and Home Solutions products. Accidental damage to laptops is not covered as standard in their new Home Insurance and Home Insurance Premier products which were introduced a few months ago.
  • dunstonhdunstonh Forumite
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    In general. But Lloyds Home Options and Home Solutions products cover accidental damage to laptops under standard contents cover.

    Thats great. That is one policy out the hundreds they have retailed over the years. (and it is hundreds as they didnt just retail own brand products but also others as well at different points in time).

    We dont know what version the OP had. Hence why the questions focused on his/her specific policy. Being aware of the facts when making a complaint can help get the outcome desired. It can also help counter certain points made (such as if the company deny the existing plan had accidental damage cover - then having proof it did and being ready in advance of that helps the situation)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • edited 1 September 2016 at 5:53PM
    KJSmithKJSmith Forumite
    152 Posts
    edited 1 September 2016 at 5:53PM
    dunstonh wrote: »
    Thats great. That is one policy out the hundreds they have retailed over the years. (and it is hundreds as they didnt just retail own brand products but also others as well at different points in time).

    We dont know what version the OP had. Hence why the questions focused on his/her specific policy. Being aware of the facts when making a complaint can help get the outcome desired. It can also help counter certain points made (such as if the company deny the existing plan had accidental damage cover - then having proof it did and being ready in advance of that helps the situation)

    Well it isn't just one policy? Home Options and Home Solutions were the only policies they sold for a while until they introduced their new products this year.

    All I was pointing out was that it wasn't factual to tell the OP that their policy would never had had accidental damage cover for laptops as standard and that no other policy could possibly have this cover.
  • edited 1 September 2016 at 6:40PM
    dunstonhdunstonh Forumite
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    edited 1 September 2016 at 6:40PM
    Well it isn't just one policy? Home Options and Home Solutions were the only policies they sold for a while until they introduced their new products this year.

    Lloyds have been going a long time. The OP has yet to confirm when the transaction took place. If have asked for confirmation as to whether it is pre or post regulation (which is important as pre would likely result in the complaint being rejected as pre-regulation). it suggests longer than the last year or two. For all we know, it could be one of the old LBIS plans or a Value Protect they did with Sun Alliance or a policy arranged via their BIQS service.

    You could well be right and that could be the policy held. However, better to check. It doesnt matter anyway as the OP has confirmed he had full accidental damage anyway.
    All I was pointing out was that it wasn't factual to tell the OP that their policy would never had had accidental damage cover for laptops as standard and that no other policy could possibly have this cover.

    And you found one that did. Every policy has its quirks or differences. They are not all the same. However, there are broad generic similarities and generically, you dont tend to get accidental damage on standard cover apart from a few electrical items (tends to be tv and audio but sometimes can be computer. Often non-portable computers is a phrase that appears).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • lisyloolisyloo Forumite
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    mattk_180 wrote: »
    If not they could argue that this wasn't the case and as you hadn't brought anything to their attention during the cooling off period meaning you were happy with the terms provided. As far as I'm aware, it's your responsibility to ensure you're happy with the policy and should check it yourself.

    They probably will, but if it comes down to the balance of probability I'd say the op wouldn't have chosen an inferior policy without express instructions to the broker.

    Two questions.

    What's the point of using a broker if you are meant to read and understand the implication of every single line in a policy running to several hundred pages.

    Some people would have a great deal of difficulty reading the entire policy let alone understanding the implications I.e. The points dunstan mentions. Are we all really expected to understand every subtlety? I reckon I'd have difficulty and I'd put myself in the top 10 % of the population intelligence wise.
  • rs65rs65 Forumite
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    lisyloo wrote: »
    What's the point of using a broker if you are meant to read and understand the implication of every single line in a policy running to several hundred pages.
    Mine is 55 pages and some of that is cover pages and sections which are not relevant to me.

    A broker will assist you by explaining what you don't understand. Using any intermediary doesn't absolve you of a responsibility to check that what you have bought meets your needs.
  • Dimples7166Dimples7166 Forumite
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    dunstonh wrote: »
    Good that proves what you had before and that you were paying extra for accidental damage cover.

    Was the insurance bought before or after January 2005?

    If you have the old policies and it was after January 2005, then you should also have the statement of demands and needs issued with the new policy. That should cover off the status of accidental damage cover and why it was or wasnt included.


    The new buildings and contents insurance was only taken out this May, when I changed my Mortgage - so really new.
  • dunstonhdunstonh Forumite
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    The new buildings and contents insurance was only taken out this May, when I changed my Mortgage - so really new.

    Excellent. This is very much post regulation. Plus, you probably have a copy of the statement of demands and needs. That will be the main document that will be examined in the complaint and will usually be the difference between a successful and a rejected complaint. What does it say on there about accidental damage cover not being put in place?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Dimples7166Dimples7166 Forumite
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    The Broker paid up, because they had not given me like for like insurance. Sorted now. Thanks for everyone's comments and help x
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