contents insurance claim

cathymac_2

Has anyone got any advice about how I should proceed please. I was burgled more than 7 weeks ago and on Saturday just gone the insurers phoned with a settlement offer.
The value of the jewellery part of the claim I find acceptable..however this is only what I would get in vouchers. They want to reduce the offer by a whopping 36% if I want cash...which of course I would prefer as my preference is antique jewellery which is not available n the establishments they are offering vouchers for.
I disagree with the offer made for the other goods, which again is in the form of vouchers..I had some things stolen that just cannot be replaced in Argos!
Nowhere in the policy does it state that voucher offers are made or reduced for cash settlement.

I did not agree the settlement, I've told them to put it in writing and I will consider it.

Does anyone have any experience of this and are there any legal points that I can use to make this settlement more acceptable to me.

Thanks for reading

Cathy

DEBRAKING

You need to define your policy. Check the terms and conditions. If the policy does not mention vouchers or reduced value when claiming the cash value, then the Insurance Company is in breach of Contract. You are under no obligation to accept there offer. Speak to them regarding your policy and ask them to go over the terms with you. If no mention of the above then tell them they are in breach and threaten to sue. There are case citations on the web for reference if you are unsure.

cathymac_2

Thankyou for that. I will have a look at the citations and check the terms and conditions.

sainthalo

IME if you want to force a real cash settlement at best value then the small claims process works wonders with insurance companies and is quick -can be completely settled and all costs recovered within a month.

neuro

I think I've just been bitten by this. I made a claim about my laptop which I damaged at home (unlimited accidental cover, yay), and my insurer (Royal & Sun via Yorkshire Building Society) referred me to Homeserve, who picked up my laptop for examination. They've gotten back to me to say it's unrepairable, and have offered me a value in Curry's / PC World vouchers to replace it. When querying a cash settlement, I was given a value substantially less (20%).

However, while my policy doesn't discuss vouchers explicitly, it does say:

Where we have offered repair or replacement by our preferred contractors/suppliers but you prefer a cash settlement, we will pay you an amount equal to the amount we would have paid had the article been repaired or replaced by our preferred contractors/suppliers.

In other words, the cash payout is equal to what the insurer is actually paying after any discounts agreed with their preferred suppliers. Sucky.