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| *Ostroff, Fair and Company>>>Insurance |
If an insurance company lets you down......? |
If you had a good policy on your home (buildings and contents) and you suffered a serious flood and your insurance company totally let you down, what sort of compensation would be due? My home was hit by a flood last year, from day 1 things went wrong with the claim: We were never moved out our house while it was dried (4-6 weeks of equipment running 24/7). We were never given B&B accommodation. Our new for old cover only paid out at about 50% of retail value on items lost. We were left to sleep in an empty property with no heating, furniture, etc (just a bag of clothes, a tv, a microwave, 2 sleeping bags and 2 blow up beds) for six weeks after they removed all our things into storage. The original quotes for the rebuild were around 拢40'000 but the insurance only covered less than 拢8'000; leaving us to cover the rest. It took over 5 months before anything was said let alone done, and going into 11 months before we got back home (still unfinished). Compensation Amount ?? All insurance companies are regulated by the Financial Services Authority. Write directly to the Ombudsman http://www.financial-ombudsman.org.uk/... With times, dates, etc. They will let you know whether or not you have the basis for a claim. There are basic rights you are afforded such as the insurance company responding to you letters/phone calls and settling your claim one way or another within a certain amount of time. Good luck! id be after a good 100k at least. Have a talk with a few different solicitors and see what each has to say. Tell them the whole story and they will act on your behalf. basically any insurance firm will try to pay as little as possible so dont accept first offer. also you never know how good your policy/company is until you need them and then its too late 100k,, then burn down their building You can appeal against the compensation you recieved. There is an Insurance ombudsman and your insurers can give you the address and telll you how to appeal. Apparently you're in the UK. Here in the US, a homeowners policy NEVER EVER covers flood losses. Sounds like your policy has limited flood coverage, and the company paid out the limit. If you used an AGENT, you might have some recourse to his professional liability, if flood was available, and he didn't offer it to you. If not, well, refer to the contract (policy). Sounds like the insurance company lived up to their end. |
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