Travel insurance request home insurance details

mistersneezy

Hello Money Savers,
I haven't posted on here for a while but hoped somebody out there might be able to help. I have had to make a claim on my travel insurance for a bag and its contents that were stolen on holiday. Passports, gadgets, some clothing, and a few other items all taken by some light fingered individual at the airport. The police even showed me him running away with it on CCTV!
My travel insurance company has asked me to provide them with my home contents insurance schedule. I have discovered that this is so that they can contact them and ask them to possibly make a contribution where insurances ‘overlap’. I am concerned that if they contact my home insurers, even if they can't get them to contribute, future premiums for my home insurance may be increased as just knowing of the claim they may deem me a greater risk. If I make a bona-fide claim on my travel insurance, with police reports to substantiate, I do not expect my travel insurance company to seek to extract cash from third parties, just to relieve themselves of their obligations, which could then be to my detriment.
My question is, can I just tell them I am not giving them those details? Am I obliged to? They have also, at this very early stage, requested my bank details. They say that they are required to make a speedy payment to me if my claim is successful. In this day and age, where every man and his dog are being hacked, I would rather not give out my bank details willy nilly to those who don't necessarily need them and am quite prepared to wait a little longer for a cheque. Do I have to give them my bank details or can I refuse? I would appreciate your thoughts on this but it would be great if anybody knew for definite where I stand legally on this.

Quentin

Yes you must comply with the request (if you want your claim dealt with)


Tell them you aren't happy giving them bank details and take it from their reply

rs65

Some useful info here

https://forums.moneysavingexpert.com/discussion/5322577

mistersneezy

Thanks for your quick reply Quentin. I can see that you post here regularly so your advice is very much appreciated. With regard to 'Yes you must comply', I take it you have some knowledge of this and it's not just an opinion?

mistersneezy

Thanks rs65. Just read that thread. Looks like it'should common practice. My concern is will it leave a footprint on my house insurance? Never claimed on house insurance before and as a result I get it at a really good price every year. Wouldn't want that to change......
Interesting article here:

http://www.bbc.com/news/business-20910130

This guy doesn't really agree with the practice. He's Steve Howard, secretary of the Association of Travel Insurance Intermediaries.

TSx

mistersneezy wrote: »

Thanks rs65. Just read that thread. Looks like it'should common practice. My concern is will it leave a footprint on my house insurance? Never claimed on house insurance before and as a result I get it at a really good price every year. Wouldn't want that to change......
Interesting article here:

http://www.bbc.com/news/business-20910130

This guy doesn't really agree with the practice. He's Steve Howard, secretary of the Association of Travel Insurance Intermediaries.

It is very unikely to result in a premium increase on your home insurance - I'm unwilling to say it definitely won't, but I've never seen a travel contribution claim (on home insurance) affect a premium for a home insurance policy across several insurers. The agreement says they cannot affect your home NCD as a result of a claim on a travel policy and this has always been interpreted to mean it doesn't affect your premiums.

There is a principle of insurance which means if two insurers are covering the same loss under different policies, they will share the costs. It is not a case of your travel insurer trying to 'extract cash from third parties' - they are claiming something they are potentially entitled to, as are you.

In terms of bank details, by all means you can request a cheque. I've not seen an insurer who won't issue a cheque when requested.

mattk_180

mistersneezy wrote: »

Thanks for your quick reply Quentin. I can see that you post here regularly so your advice is very much appreciated. With regard to 'Yes you must comply', I take it you have some knowledge of this and it's not just an opinion?

I second what Quentin said about complying.


It's to ensure that you don't claim from your travel policy and then go to your house insurer and claim again, meaning you are then in a better position than you were before.


If they find there's no cover, they will settle it themselves, if there is, then the insurers will share the costs.

mistersneezy

Thanks for your comments mattk_180. It seems like this is common practice. Did you read the link I posted earlier from the BBC website? What do you make of that?

mattk_180

I have, and unfortunately it's just "another one of those things".


The travel insurer has a right to seek contributions from the house insurer, who in turn incurs a loss and increased your premium accordingly without much you can do about it.


Many insurers put non-contribution clauses into their policies now to avoid this type of scenario.


The problem is, with travel insurance, there is rarely a recovery so even if you were not at fault, it is going to affect your premiums regardless.

FutureGirl

What will likely happen is that your travel insurers will seek a recovery from your home insurers. But it won't impact your NCD.

paddyandstumpy

Contribution, not recovery.