I just renewed my insurance with E & L, on the website form you have to name the items you want insured and state their value, I ran out of lines and so I just named the main items.
About an hour later I received a phone call as the DD is in my wife's name and so I decided to ask a few questions.
I asked what the declared value should represent, should it be what I paid for the items or should it be what it would cost to replace them?
The reply was "what I paid for them" and then he dropped his bombshell and said "and in the event of a claim, proof of purchase is required"!
I asked is the cover not old for new, to which the answer was "no, only the cost of what you paid and can prove you paid" and yet the website clearly states "including 3 years new for old"?
This led me to ask what if I had won an item or been given an item as a present or bought something a long time ago like my MP-52's and proof of purchased could now not be found or obtained?
He had to go away and ask the claims dept as he wasn't sure and believed at the time those items would not be insured!
However, on his return he said I would have to "prove ownership" of the item/s that were won or given to me in any capacity and what their cost/s were at that time, but to be honest, it all started to sound a bit vague and it came across clearly that if I had purchased something some time ago like my Mizzies and no longer had proof of purchase or I had won something and couldn't prove ownership, they wouldn't pay out, and if they did, it would be what I paid for them at that time and not [new for old]!
Sorry but that was the shortest renewal process I've ever done and duly cancelled.
How many of you believe you are fully covered because of what it says on the policy which in true reflection, it isn't?
Its not just the small print here IMO, its the lack and omission of information and what we persieve to be covered quite clearly isn't!
I'd start asking some hard factual questions of your insurers if I was you, like, in event of theft or damage, what value will you actually pay out and more importantly, do you need to prove any value? If its new for old, why does the old value when you bought the goods really matter now 1, 2, 3 years on?
I'm now looking for a new and less complicated insurer :mmm:
About an hour later I received a phone call as the DD is in my wife's name and so I decided to ask a few questions.
I asked what the declared value should represent, should it be what I paid for the items or should it be what it would cost to replace them?
The reply was "what I paid for them" and then he dropped his bombshell and said "and in the event of a claim, proof of purchase is required"!
I asked is the cover not old for new, to which the answer was "no, only the cost of what you paid and can prove you paid" and yet the website clearly states "including 3 years new for old"?
This led me to ask what if I had won an item or been given an item as a present or bought something a long time ago like my MP-52's and proof of purchased could now not be found or obtained?
He had to go away and ask the claims dept as he wasn't sure and believed at the time those items would not be insured!
However, on his return he said I would have to "prove ownership" of the item/s that were won or given to me in any capacity and what their cost/s were at that time, but to be honest, it all started to sound a bit vague and it came across clearly that if I had purchased something some time ago like my Mizzies and no longer had proof of purchase or I had won something and couldn't prove ownership, they wouldn't pay out, and if they did, it would be what I paid for them at that time and not [new for old]!
Sorry but that was the shortest renewal process I've ever done and duly cancelled.
How many of you believe you are fully covered because of what it says on the policy which in true reflection, it isn't?
Its not just the small print here IMO, its the lack and omission of information and what we persieve to be covered quite clearly isn't!
I'd start asking some hard factual questions of your insurers if I was you, like, in event of theft or damage, what value will you actually pay out and more importantly, do you need to prove any value? If its new for old, why does the old value when you bought the goods really matter now 1, 2, 3 years on?
I'm now looking for a new and less complicated insurer :mmm:
