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  • Insurance Companies.

    Hi all,



    Wonder if anybody as had any dealing with insurance companies. My query is quite complex so I will try to keep it short.



    Basically we are moving mortgages from our Building Society to an online Bank (The Virgin One). No problems, no hassle until we asked about Building and contents Insurance. Virgin declined, and so did a number of other companies saying that our house had a subsidence problem.



    We phoned our present insurers and asked what the problem was. A number of years ago we had noticed small cracks in one of the walls and informed them, more out of courtesy than anything else. They sent a structural engineer and he put it writing that there was no subsidence problem and the cracks were due to "historical movement". We then forgot about it.



    The pleasant lady on the end of the phone told us that this had been logged in the general category of subsidence and as such no other insurance company would touch us and it flags up on every enquiry that is made about our property. She also told us that they were the only company that could and would insure us. We tried to explain but she was quite adamant that the records were correct and would not be altered :banghead: . Just to add insult to injury we were informed that the new policy was going to be £200 dearer than our existing one.



    I am not the sharpest tool in the box but I feel ripped off and was wondering if anybody else had similar experiences of insurance company blackmailing and how they dealt with it.



    Thanks Kevin

  • #2
    Hi Kev, I am an IFA.



    This sounds like a load of old tosh to me. Either the property had subsidence and something needed doing about it, or it didnt. the structural surveyor said the cracks were caused by historical movement, every house will have some kind of evidence of this, it just the way it goes. nothing to worry about.



    i assume you have a copy of this report, send a copy into the insurance company with a nicely worded letter of complaint and ask them to sort it out asap as you are being unnecessarily financially penalised, and prevented from getting insurance elsewhere so they need to change the info they have put into the database taht other insurers use. put a deadline on when you want a reply.



    i suppose you spoke to a 'drone ' at a call centre? they can never tell you anything other than what appears on their screens, and if that information is incorrectly updating at that moment then they can come out with a whole lot of nonsense. I have had a week of this with one particular insurer who are insisting that i do not have authority to access information about half a dozen of my clients' pensions, even though my MD arranged them!!! their systems are obviously playing up, but it is never their fault. I will probably ring in next week and have no problems at all.



    anyway Kev, why are you applying for the One Account (not owned by Virgin anymore, by the way) there are better current account mortgages than that one out there!!!!!



    actually before you write to them, you might like to ring them again and double check that they are still saying this is correct and then get your complaint in writing, get a name from them who you can write to.



    i think you should be able to get this sorted out quite easily. if they do give you any grief ask them to send a structural surveyor out again ( not at your expense though). i really hope they see sense.



    good luck!!!!
    http://bestsmileys.com/sparkle/1.gif



    I decree today that life

    Is simply taking and not giving

    England is mine - it owes me a living

    But ask me why, and I'll spit in your eye

    Oh, ask me why, and I'll spit in your eye ~ Morrisey/Marr




    Politics is Showbusiness for ugly people ~ Jay Leno



    I don't like liars, I don't like cheats. I don't like bullsh***ters. I don't like schmoozers. I don't like ar*e-lickers. ~ Sir Alan Sugar



    "Why, Sir, you find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford." ~ Samuel Johnson



    The secret of success is the capacity to overcome failure ~ Noel Coward



    An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today ~ Laurence J. Peter



    Always laugh when you can. It is cheap medicine ~ Lord Byron



    Better bread with water than cake with trouble ~ Russian Proverb



    There is no trouble so great or grave that cannot be much diminished by a cup of tea ~ Bernard-Paul Heroux



    Carpe Diem



    Give Yourself to It ~ Sue Gadenne

    Comment


    • #3
      Hi Kevin



      Have sister who is a Broker, and hobnobs with the underwriters regularly...if you want can ask her advice...see if she has anything to add to what Annabel has advised?



      Sapphy

      Comment


      • #4
        Cheers Annabel and Sapph,



        I'm going to get this checked out.



        The Virgin One seems a really good deal purely by virtue it is flexible but I would really welcome any advice that could be offered before we go with them



        Like I said I feel conned and ripped off.



        Thanks Kevin

        Comment


        • #5




          Not surprised!!



          Sapphy

          Comment


          • #6
            Thanks Sapph :P

            Comment


            • #7
              You're always welcome



              You may want to see an independent F.A., you may also want to check out The Sunday Times and Guardian on-line(money pages), for a bit of scouting around.



              No political bias here, as you can see :lol:



              sapphy

              Comment


              • #8
                Insurance companies don't get rich by being fair :P



                Have you thought of contacting the Financial Ombudsman Service? They deal with insurance disputes. URL: http://www.financial-ombudsman.org.uk/



                Misty
                "Almost anything you do will seem insignificant, but it is very important that you do it. You must be the change that you wish to see in the world." Gandhi

                Comment


                • #9




                  before he goes to the ombudsman, misty , he really should exhaust the insurance company's own complaints procedure first.



                  anyway Kev, have a look at Moneyfacts.co.uk they are THE database as far as Best Buy mortgages are concerned. I need to investigate Buy To Lets for a client of mine so while I am at it, I will have a quick nosey and see what I think is a good deal as regards flexible mortgages. Last time I looked Standard Life Bank were enticing. but that was a few weeks ago,



                  I never have liked the One Account as it does commit you to putting all your finances into one account . I prefer the offset arrangement, personally.



                  Ill let you know
                  http://bestsmileys.com/sparkle/1.gif



                  I decree today that life

                  Is simply taking and not giving

                  England is mine - it owes me a living

                  But ask me why, and I'll spit in your eye

                  Oh, ask me why, and I'll spit in your eye ~ Morrisey/Marr




                  Politics is Showbusiness for ugly people ~ Jay Leno



                  I don't like liars, I don't like cheats. I don't like bullsh***ters. I don't like schmoozers. I don't like ar*e-lickers. ~ Sir Alan Sugar



                  "Why, Sir, you find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford." ~ Samuel Johnson



                  The secret of success is the capacity to overcome failure ~ Noel Coward



                  An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today ~ Laurence J. Peter



                  Always laugh when you can. It is cheap medicine ~ Lord Byron



                  Better bread with water than cake with trouble ~ Russian Proverb



                  There is no trouble so great or grave that cannot be much diminished by a cup of tea ~ Bernard-Paul Heroux



                  Carpe Diem



                  Give Yourself to It ~ Sue Gadenne

                  Comment


                  • #10
                    Hi all,



                    We phoned the insurance company this afternoon and said we wished to complain about the information on their database. They were very understanding but have refused to alter it in anyway.



                    Because an engineer as been out a claim for his fees was put in and this claim is now held against our property. I told them they were penalizing us unfairly and even mentioned taking it to the ombudsman. I actually sounded as though I know what I was talking about.



                    The Royal and Sun Alliance admitted to us over the phone that we had been "blacklisted" through no fault of our own and even advised us to take it to the ombudsman, saying they would agree with their policy totally. We were told that when seeking other quotes we should ask other companies to phone the Royal and Sun and given a direct number. Apparently if a problem is flagged like this it is down to the other insurance companies to phone them and question the information.



                    We have phoned 4 different insurance companies and have been refused insurance by the underwriters. We have explained on each occasion and although they have expressed sympathy have said there is nothing they can do. :banghead:



                    It looks to me that each one simply shifts the buck to suit and it really looks like we could be tied to the Royal and Sun for some time. Maybe there is a cautionary tale here but I really can't see any other option but to go with the massively overpriced policy from the Royal and Sun. :sad:



                    Thanks for the advice and help Kevin

                    Comment


                    • #11
                      :angry:



                      aha! pesky RSA. I might have guessed. This is an insurance company that was on the verge of going under until Friends Provident bailed them out. They are still in a state of disarray now. I am having right ding dong with them right now over , of all things, an incorrect tax certificate! they will not accept they have got it wrong. If I told you how much of our client's money we have invested with them you would faint, yet they still treat us like morons.



                      Right, this simply isnt good enough.



                      The fact that a structural engineer has gone out and has asked to be paid for his work means they have counted that as a 'claim' against your Buildings Insurance. Outrageous!!!! Not only have they, in their wisdom decided that this will affect your premium, they have also blacklisted your property.



                      Of course no other company will touch you; the BI business is so competitive and price sensitive, they simply cannot be bothered to make the extra effort for your business.



                      Fear not,. Kev.



                      Now that I know what company you are with I shall, on Monday, track down our RSA rep and see if I can get you a top honcho's name to send your complaint to.



                      They will see sense and they will sort this out for you. Definitely.



                      so stop fretting!!!



                      Ill PM you once I get the info.



                      Have a nice weekend
                      http://bestsmileys.com/sparkle/1.gif



                      I decree today that life

                      Is simply taking and not giving

                      England is mine - it owes me a living

                      But ask me why, and I'll spit in your eye

                      Oh, ask me why, and I'll spit in your eye ~ Morrisey/Marr




                      Politics is Showbusiness for ugly people ~ Jay Leno



                      I don't like liars, I don't like cheats. I don't like bullsh***ters. I don't like schmoozers. I don't like ar*e-lickers. ~ Sir Alan Sugar



                      "Why, Sir, you find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford." ~ Samuel Johnson



                      The secret of success is the capacity to overcome failure ~ Noel Coward



                      An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today ~ Laurence J. Peter



                      Always laugh when you can. It is cheap medicine ~ Lord Byron



                      Better bread with water than cake with trouble ~ Russian Proverb



                      There is no trouble so great or grave that cannot be much diminished by a cup of tea ~ Bernard-Paul Heroux



                      Carpe Diem



                      Give Yourself to It ~ Sue Gadenne

                      Comment

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