Our Customers Love Us!

Home Insurance

Get a Quote

Get Quote

Home / Property Insurance / Home Insurance / Why do Insurers Get Such a Bad Press?

Why do Insurers Get Such a Bad Press?

Large numbers of genuine claims are settled by insurers every day of the week and the amounts paid out are quite staggering. So why do most of us moan and grumble when the subject of home insurance is brought up in conversation?...

One of the things, which is often mentioned to me (usually away from the office and when I am forced to mention my occupation) is the opinion by many people that insurance companies, in general don’t want to pay claims. More often than not, these remarks simply pass over my head, after all, who wants to talk about work in their spare time. On occasion and depending on how vociferous the person is becoming, I will engage in lively debate as to how my lengthy experience arranging ( mainly buildings Insurance ) covers leads me to believe that on the whole insurance companies offer a good and fair service.

I had an episode occur over the weekend, where a friend of a friend asked me to help him obtain claims settlement from his insurers. Well basically he wasn’t covered and he became quite irate when I told him he wasn’t covered and I tried to explain why they had refused to deal with his loss. It ended up with him against me and the insurance industry, on my day off, un paid and on the receiving end of any angry person who wasn’t even a client. “You lot just don’t want to pay do you, you’re all the same” was his final remark. I think he took umbrage with me pointing out, that you can’t make the circumstance fit the claim, either it’s happened one way or it didn’t and it’s a slippery slope to start misleading an insurance company as to how a loss occurred. From his point of view, I can see why he was upset, he’s going to be several thousands of pounds out of pocket for something which is not his fault. Incidentally, believe every insurance company (including ones we represent ) would have treated him in exactly the same way.

Most of the “slates of the roof in a storm” type claims will do little to harm the family budget, but I’ve come across many, many incidents where if it wasn’t for insurance, a homeowner would have faced disastrous financial consequences. Of course, it’s only the stories of non-payment that do the rounds, there’s not much mileage in spreading good news relating to claims settlement. “ Insurance company settles claim in acceptable time period”.

Certainly when I began my career, it was not un heard of to have a back log of claims to deal with, this often became more severe in the winter months and in those days the level of computer sophistication was just not available. Often claims would take a while to settle and to be honest, it was sometimes down to the person shouting the loudest who would have their claim settled the quickest. Now with better computer networks, the internet and the Financial Service Authority imposing time scales with dealing with matters, I believe that most claims are dealt with in a reasonable time scale. I can honestly say, I don’t think I’ve seen too many genuine claims that have not been dealt with in a fair and equitable manner.

One of the problems when dealing with buildings insurance claims, (from a policyholders point of view) is understanding if an event is covered under the policy wording or not, this can often lead to confusion and upset. Basically, a buildings insurance policy is a “perils” contract, that is to say, the policy document will list a series of events for which cover will be provided such as a fire or a flood. The insurers expect the events to be “sudden and unforeseen” such as the roof blowing off in a storm or if you like, a massive truck missing a bend and coming crashing through your garden wall.

Number one thing to remember, buildings insurance policies are not maintenance contracts, they are not designed to provide a fund for the up keep of your property, which of course you will be expected to do, to comply with the policy conditions. If something in your home fails as a lack of maintenance then that’s usually down to you to replace or repair the item although that said, often the resulting damage caused may well be covered by your policy.

Secondly, if something does happen which may give rise to a claim, tell the insurers as soon as possible, it’s no good waiting six months for that leak to get worse and expect the insurance company to pay for all the damages, most polices contain a condition that all events which may give rise to a claim are reported within a reasonable amount of time. If you are letting your property, it’s a good idea to point this out to the tenant, too many landlords discover damage to their property only when the tenancy agreement comes to an end.

Lastly, always remember the principle of insurance is to leave you in the same position after an event has happened as you were in before it, insurance is not compensation as such and you certainly shouldn’t expect to make a profit on a claim, entering false or exaggerated claims is basically fraud and will be dealt with accordingly by the insurance company. If I had to offer any advice to anyone with regards to claims it would simply be: Report possible claims as quickly as possible, obtain sensible accurate estimates if requested to do so and only have works ( other than temporary emergency work) carried out once your insurance company have agreed to it.

Bob.

Latest News & Advice

Woodworm Dry Rot

Woodworm Dry Rot

Woodworm, Dry Rot and Wet Rot. One of the most costly maintenance problems for homeowners is woodworm, dry rot and wet rot. If left untreated it can huge amounts of damage to the interior of your home. There are treatments and remedies to prevent it’s spread and to eliminate the problem it becomes critical. Woodworm is most commonly caused by the furniture beetle which leave larvae boreholes inside the major woodwork elements of a property. These area include the roof timbers, joists, staircase and floorboards. Woodworm can also infest ordinary household furniture causing a home insurance claim problem....

Types Door Window Locks

Types Door Window Locks

Types of Door and Window Locks – when purchasing a home insurance policy, you may find that your insurance company want you to have certain security measures in force at your property. These should be studied most carefully as without the correct protection being in force, you may find your cover compromised in the event of a claim. For most people, this involves having good quality door and window locks. Good physical security at your property, will be of a far greater benefit in deterring Theft than having an alarm fitted, but not being a lock expert, have do you discover if you have the correct locks fitted at your home?...

Subsidence Structural Problems

Subsidence Structural Problems

Preventing or Dealing with Subsidence and Structural Problems.Whilst subsidence is usually covered by a building insurance policy, it is definitely something that you do not want to happen at your property if at all possible. Claims for subsidence can be on the large side ( hence the reason for the standard policy excess being £1000) and even if the building is repaired by the insurance company, you may find that’s in the future, insurance is harder to source ( and possibly more expensive) and the market value of the property and it’s marketability may also diminish...

Why choose our specialist insurance cover?

Artboard 2 copy 18

Home Insurance from Assetsure icon-thin-chevron-down

Our Home Insurance can provide cover for your Buildings, Contents and Personal Effects. Monthly payments available

Artboard 2 copy 20

Legal Assistance as Standard icon-thin-chevron-down

All our policies include Legal assistance as standard up to £50,000 This offer Legal protection for problems relating to employment, contracts, property and personal injury etc.

Artboard 2 copy 21

Home Emergency as Standard icon-thin-chevron-down

All our policies cover Home Emergency as standard up to £500. this offers protection against unexpected events such as the failure of your main heating system, blockage of drains or failure of your domestic gas or electricity supply

Artboard 2 copy 22

£1,000,000 Cover for Buildings icon-thin-chevron-down

We automatically provide you with £1,000,000 cover for rebuilding cost of your property, ideal if you are unsure of your re-building cost.

Artboard 2 copy 17

Excellent service offered icon-thin-chevron-down

We like to offer all our customers a first class service, which is backed up by our Trust pilot ratings. We are open 7 days a week to assist you with your enquiries.

icon-instant_cover

Instant cover and policies icon-thin-chevron-down

Most of our policies you can now buy online and receive instant documentation. Of course, you are more than welcome to call us and we can provide your cover over the phone