Claiming under multiple travel insurance policies

andrew957

I have two 'packaged' bank/credit card-based travel insurance policies from two different vendors.

I have suffered a loss (reported to the police etc) of an item costing ~£1500.

Both policies offer cover up to £2000 total. One policy has a £600 per-item limit, the other has a £500 per-item limit.

The policy states that they are entitled to approach the other insurer for a contribution and they will only pay their share.

Obviously given the per-item limit I am not trying to claim twice in the sense of getting a double pay-out/more than the value of the loss. If the item lost was valued at £500 I understand that the insurers could only pay £250 each (i.e. paying their share).

But in this case I'm expecting both insurers to pay up to their item limit as I have been paying them both for the insurance.

I will be up-front with both that I have other insurance, but what is the legal standing here - am I entitled to cover from both policies?

Thanks in advance.

Boohoo

andrew957 wrote: »

I have two 'packaged' bank/credit card-based travel insurance policies from two different vendors.

I have suffered a loss (reported to the police etc) of an item costing ~£1500.

Both policies offer cover up to £2000 total. One policy has a £600 per-item limit, the other has a £500 per-item limit.

The policy states that they are entitled to approach the other insurer for a contribution and they will only pay their share.

Obviously given the per-item limit I am not trying to claim twice in the sense of getting a double pay-out/more than the value of the loss. If the item lost was valued at £500 I understand that the insurers could only pay £250 each (i.e. paying their share).

But in this case I'm expecting both insurers to pay up to their item limit as I have been paying them both for the insurance.

I will be up-front with both that I have other insurance, but what is the legal standing here - am I entitled to cover from both policies?

Thanks in advance.

Have you ever tasted prison food???????????


If you do claim on both policy's you will have to deduct the excess on both policy's for making a claim so will it be worth claiming? £250 from each insurer less the excess and maybe a insurance renewal increase.


You mention £1500 loss but you have not said if this 1 item or a few items and not the nature of the loss, theft, accidental, mugging or lost luggage on a holiday as telling MSE what happened may help people give more advice on your claims.

andrew957

I'm not sure why prison food is relevant and I don't understand the remainder of your reply I'm afraid.

To be clear I have lost an item costing £1500 - i.e. one item.

I'm happy to pay both excesses, the question is specifically around per-item cover limits and multiple policies.

Packaged insurance products are unlikely to see an insurance renewal increase.

andrew957

To answer my own question and to help anyone else in the same situation... I called insurer #1 who processed and settled the claim on the spot, and actually suggested themselves that as they couldn't cover the whole item cost I should make a claim from the other insurer to cover the remainder.

Boohoo

andrew957 wrote: »

To answer my own question and to help anyone else in the same situation... I called insurer #1 who processed and settled the claim on the spot, and actually suggested themselves that as they couldn't cover the whole item cost I should make a claim from the other insurer to cover the remainder.

Prison food in case the insurance company think your trying to swindle them and they get the police involed.


You say £600 for 1 insurance and £500 for the other insurance is the max limit per item lost.


You lost a £1500 item and 1 insurance company has paid out £600 or £500(max limit per item) and now you are going to try and claim the max limit of £500 or £600 from the other company is that correct?


So if you win both claims you get max of £1,100 payout less both excesses so all in all not a bad payout and it's better than a kick up the backside on wet Monday.

unforeseen

Also remember that you will have to declare 2 claims, not one, in future

andrew957

Boohoo wrote: »

Prison food in case the insurance company think your trying to swindle them and they get the police involed.

andrew957 wrote: »

I will be up-front with both that I have other insurance.

Boohoo wrote: »

You say £600 for 1 insurance and £500 for the other insurance is the max limit per item lost.

andrew957 wrote: »

One policy has a £600 per-item limit, the other has a £500 per-item limit.

I think it's worth considering how you come across on the internet, as you haven't added anything positive to the discussion. You made a rather silly remark and then asked questions that were answered in my original post.

It isn't constructive and deters people from wanting to post in the forum.

Quentin

unforeseen wrote: »

Also remember that you will have to declare 2 claims, not one, in future

Which travel insurance company asks for previous claim history,??

Boohoo

andrew957 wrote: »

I think it's worth considering how you come across on the internet, as you haven't added anything positive to the discussion. You made a rather silly remark and then asked questions that were answered in my original post.

It isn't constructive and deters people from wanting to post in the forum.

Is it because it is not what you want to hear?


You have been paid out £600 or £500 (you did not mention how much) so going by your post you can now only claim the other £500 or £600 to make a maximum payout of £1,100 from the 2 insurance policy's that you have.


Quentin. Maybe packaged bank/credit card policy's have T&C's where you have to tell them that you have made a claim before they auto renew every year that you are with these bank's or card companies as if not then anybody could make at least 1 claim a year against the policy.

Chickenlips

Do you have cover for personal possessions on your home insurance and does it cover you abroad? Admittedly, the value of the claim may be wiped by the premium increase over the next few years but could assist.