Dreams bed insurance Advice needed please!

redVetty

Hi all, first time posting
We purchased a very expensive bed and mattresses from Dreams and took out their cover plan. The bed has broken and they have stated that we have £2037 to purchase a new one from Dreams. They don't make our bed anymore and nothing really comes close to the price or the style of bed we have for that price (adjustable TV bed - the one they have comes at least a few hundred quid short of the amount we have to spend). Dreams have stipulated that there will be no cash settlement for any shortage between the new bed we choose and the settlement amount. They have also stated that they will not give a cash settlement for the whole amount (which is what we wanted, so we could purchase a replacement anywhere but Dreams).
I want to challenge this, the part settlement cash and ideally just a cash settlement. 

Does anyone have any experience in this that could give me some advice before I start sending emails and making calls?

Thanks in advance.

PRAISETHESUN

What do the terms of this cover say about the replacement bed - is it a "like for like" replacement, or simply a voucher up to the value of your bed to purchase a replacement? If the latter, I don't think you have a leg to stand on here - these are the terms you agreed to prior to taking out the cover and they sound pretty clear. You can either use the voucher to purchase the more expensive bed (making up the shortfall yourself), or use it to purchase a cheaper bed. Negotiating a cash settlement is going to be a waste of time IMO.

cymruchris

Did you pay £2037 for your original bed? If so - you've got your money back - and it's then for you to choose another model. If it's more expensive then you'd rightly have to pay the difference. It may be that the original bed you purchased was at a promotional price - and the beds currently in the range that offer similar features but are not the same, are more expensive as a result of not being on a similar promotion.

rs65

Is this their Bedcover Service Plan?
If so, it clearly states it is not a contract of insurance, a guarantee or an insurance policy.
You won't have the same rights that insurance brings.  

MalMonroe

You don't say how long you have had the bed but it seems like the cover you have is a waste of time, space and money as a quick check online reveals that it says : "At our absolute sole discretion we cover" - at their absolute discretion! (Exclamation mark because I think that is really cheeky of them), so there is no guarantee that you will get anything. Their 'cover' isn't worth the paper it's been printed on.

As I understand it they have offered you £2037 for a new bed and if I were you, I'd take it because like others have said, you don't seem to have a leg to stand on.

Plus, emailing and phoning is going to be frustrating and time wasting for you, since that sentence I've copied and pasted says it all. But I'm sorry about that, especially as it seems that you're stuck with Dreams.

sheramber

cymruchris said:

Did you pay £2037 for your original bed? If so - you've got your money back - and it's then for you to choose another model. If it's more expensive then you'd rightly have to pay the difference. It may be that the original bed you purchased was at a promotional price - and the beds currently in the range that offer similar features but are not the same, are more expensive as a result of not being on a similar promotion.

I read it as the new bed costs less than £2037  but Dreams will not refund the difference 

cymruchris

sheramber said:

cymruchris said:

Did you pay £2037 for your original bed? If so - you've got your money back - and it's then for you to choose another model. If it's more expensive then you'd rightly have to pay the difference. It may be that the original bed you purchased was at a promotional price - and the beds currently in the range that offer similar features but are not the same, are more expensive as a result of not being on a similar promotion.

I read it as the new bed costs less than £2037  but Dreams will not refund the difference 

Yes - on a re-read - I think you're right. 
Can you make up the difference on any options or accessories?