Insurance offering vouchers instead of cash settlement

[Chingy182]

So, just to give a status update on my original issue.

 

I have, reluctantly, settled for the claims card to go purchase from partner stores.

It got to the point where I felt too frustrated to continue the fight and like I was fighting against a brick wall of incompetence and understanding.

 

Fortunately, Cycle Lab is a partner and by virtue of that I can go spend my vouchers at CWC.

I just can't do any online orders and will have to do everything in-store.

 

I am still awaiting feedback from the short term insurance ombudsman, but have received a case number from them.

I still plan on taking this matter further.

 

My big question to the insurance now is, what happens if I lose the card?

[Quagga]

I have a special brand of hatred reserved solely for insurance companies, after I got schnaaied by Budget Insurance / Dial Direct when I bought a new car for the missus.

Snip

 

Yoh, seems you have a lot of hatred going there. 

 

you did not get "schnaaied" you did not READ!

[WR 1.0]

So, just to give a status update on my original issue.

 

I have, reluctantly, settled for the claims card to go purchase from partner stores.

It got to the point where I felt too frustrated to continue the fight and like I was fighting against a brick wall of incompetence and understanding.

 

Fortunately, Cycle Lab is a partner and by virtue of that I can go spend my vouchers at CWC.

I just can't do any online orders and will have to do everything in-store.

 

I am still awaiting feedback from the short term insurance ombudsman, but have received a case number from them.

I still plan on taking this matter further.

 

My big question to the insurance now is, what happens if I lose the card?

 

If you lose the card, they can stop it and reissue.

 

Don't you'll have much luck with the Ombud, if the company is applying the policy wording. 

[BigDL]

A broker friend of mine often, (maybe once every 2 months) send me pics of broken frames, where you can sometime see the car tyre marks, where owners drive over their new bikes to claim and upgrade to the new models.....

The below are a couple of thoughts, and I am sure we all have similar examples.

 

I knew respectable guys who used to have connections who would steal car radios to order in PMB back in the early 90’s.

 

I have also known people who “lose” stuff on holiday and claim back on insurance.

 

I knew of a doctor in Durban who would advance you cash and claim double the Amount from your medical aid.

 

We all know people who have had their houses broken into and inflated the insurance claim.

 

I wanted to move a chunk of cash to the U.K. when there were still restrictions. My lawyer instantly offered me a contact who could illegally move money.

 

Then we all complain about insurance companies being bastards because they are becoming more careful about when they pay out.

[Robbie Stewart]

Yoh, seems you have a lot of hatred going there. 

 

you did not get "schnaaied" you did not READ!

 

perhaps, true. I did not read.

 

But how in heck anyone justifies matching a quote by reducing existing cover...?

 

Co 2 offers me a better price at comprehensive cover. Co 1 decides to match (beat) price of Co 2. What is left unsaid, and hidden in heaps of legal jargon, is that the matching process is not necessarily comparing apples to apples, but rather apples to lemons.

 

Lesson learnt. I read everything that requires a signature, no matter how tedious.

 

(On another note - let's agree to disagree...)

 

I don't like vicious dogs or vicious insurance people...you do. Leaving it there.

[Chingy182]

If you lose the card, they can stop it and reissue.

 

Don't you'll have much luck with the Ombud, if the company is applying the policy wording. 

Thing is, I have read through my entire policy schedule twice to read through every section carefully and nowhere does it say anything about method of claim payment being cash or vouchers, etc.

 

Just to set the record straight, my intention was never to try drag the insurance company through the mud and claim some sort of moral victory on the Hub.

My original post was to ask for advise on what legal rights I have to request cash over vouchers as a settlement to my claim. I was hoping for a Consumer Protection Act law I could have mentioned to the insurer or something of the sorts.

[stefmeister]

perhaps, true. I did not read.

 

But how in heck anyone justifies matching a quote by reducing existing cover...?

 

Co 2 offers me a better price at comprehensive cover. Co 1 decides to match (beat) price of Co 2. What is left unsaid, and hidden in heaps of legal jargon, is that the matching process is not necessarily comparing apples to apples, but rather apples to lemons.

 

Lesson learnt. I read everything that requires a signature, no matter how tedious.

 

(On another note - let's agree to disagree...)

 

I don't like vicious dogs or vicious insurance people...you do. Leaving it there.

Also had an insurance company trying to match another's quote. After I asked if the better car value settlement and rental car options is also included, it turned out their price was better, but the cover was non-existent.

[Chingy182]

Just on a little side note, I have noticed that my vehicle excess has gone up from R2500 to R2700 without my written consent or prior knowledge.

 

Sneaky way of keeping my monthly premium at the same price or standard practice after a claim?

[Dirt Tracker]

Also had an insurance company trying to match another's quote. After I asked if the better car value settlement and rental car options is also included, it turned out their price was better, but the cover was non-existent.

 

Usually people want to price match, not service / benefits match. "R500 if we can't match your best price' is easy when you carve out the benefits and crank up the claim excess. 

[WR 1.0]

Just on a little side note, I have noticed that my vehicle excess has gone up from R2500 to R2700 without my written consent or prior knowledge.

 

Sneaky way of keeping my monthly premium at the same price or standard practice after a claim?

The company needs to give you at least 30 days notice of any change (that's probably in your wording)

[WR 1.0]

Thing is, I have read through my entire policy schedule twice to read through every section carefully and nowhere does it say anything about method of claim payment being cash or vouchers, etc.

 

Just to set the record straight, my intention was never to try drag the insurance company through the mud and claim some sort of moral victory on the Hub.

My original post was to ask for advise on what legal rights I have to request cash over vouchers as a settlement to my claim. I was hoping for a Consumer Protection Act law I could have mentioned to the insurer or something of the sorts.

I think in general credit /debit cards are seen as cash by most retailers. (which is probably the argument the insurer will use)

The company also usually have the option of changing the card to an "open" card meaning its not just limited to a specific panel.

But also bear in mind that they can also trace where you spend the money.

Some retailers will also not allow you to buy an item on sale using the card

[lechatnoir]

Some people feel its ok to screw large corporates because of their warped perception that they are the victims of their own choices.

 

This is Patch's best attempt at winning the internet today by being a rational adult.

 

Chapeau good sir!! your best effort was good enough. The internet is yours for today! 

[Plentipotential]

Just to make myself clear there is no indication in advert that bike has been repaired so poor soul who purchases it has no idea of its history

To me that is the fraud part

 

Just like you never made it clear in your first post that this was what had been done.

[Pure Savage]

My biggest issue with insurers is that you get an answer, but when you question their logic then they um and arr then you screen shot policy wording then you get it sorted.

 

My rear stay crack on my venge when I crashed, they wanted to repair but only gave a 1 year warranty vs 3 years left on frame warranty. After a lot and back and forth they only then paid out for a new frame. If I hadn’t known my policy or been such a pain they would have paid out 1/3 of the claim.

 

One should not have to fight with an insurer on every claim over what should be done the first time.

 

They prey on people that are just too busy, not clued up or not bothered to check. That I think is a form of fraud.