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Home Insurance, How Much Trouble?
5 Answers
We have home insurance, had it for many decades, never claimed. Recently been reading horror stories of similar people who have been robbed, where the apparently reputable companies refuse to pay out on all sorts of spurious grounds - mainly that although the people have photos/videos showing certain items in their homes, they no longer have RECEIPTS for most things.
Nor do we! We have a few for more recent purchases, but loads of items, no huge value (mum's old carriage clock, probably less than £100, for example), which would undoubtedly go in a robbery, but receipts? Having a laugh or what?
So we are wondering just how much coverage we get for our two hundred quid (plus) a year....
Any thoughts?
BillBainbrig
Nor do we! We have a few for more recent purchases, but loads of items, no huge value (mum's old carriage clock, probably less than £100, for example), which would undoubtedly go in a robbery, but receipts? Having a laugh or what?
So we are wondering just how much coverage we get for our two hundred quid (plus) a year....
Any thoughts?
BillBainbrig
Answers
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Insurance companies are, for the most part, pragmatic, and will therefore know that people do not keep receipts for every purchase, and indeed people could have things in their houses that have been gifted or bequeathed to them and therefore no receipts are available.
What they will expect, not unreasonably in my view, is that if as part of a burglary you enter a claim for, say, a £5k ring, that you can prove that you did indeed have the ring (valuation, receipt, photos etc...). Unfortunately there's a number of dishonest people around who will think that if they have a burglary they've won the pools and enter claims for stuff the didn't own.
Everybody has TVs and so on, and insurers accept this.
I strongly suspect that there's more to the stories that you've read, because in my experience insurers do not use spurious reasons to avoid a pay out. Insurance is pretty simple really, if you have a loss, you can demonstrate the extent of your loss, and it is not excluded, then it is insured.
What they will expect, not unreasonably in my view, is that if as part of a burglary you enter a claim for, say, a £5k ring, that you can prove that you did indeed have the ring (valuation, receipt, photos etc...). Unfortunately there's a number of dishonest people around who will think that if they have a burglary they've won the pools and enter claims for stuff the didn't own.
Everybody has TVs and so on, and insurers accept this.
I strongly suspect that there's more to the stories that you've read, because in my experience insurers do not use spurious reasons to avoid a pay out. Insurance is pretty simple really, if you have a loss, you can demonstrate the extent of your loss, and it is not excluded, then it is insured.
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