Insurance-is it worth it?

[audio]

Talking to friends it would seem that successful claims from insurance companies are few and far beyond.

I rented a car recently and took out the expensive collision damage waiver in the belief that in the event of an accident all would covered financially-WRONG. Reading the small print, I found that I was liable for the first 1600 euros in the event of any claim.

A pal down the road was taken to hospital in the USA with severe stomach pains, his travel insurance (FR) would not pay because this happened in the first week on the cover. The small print states that cover is only after a delay of 8 days unless there is an accident. This means that you must take out cover 8 days before you leave, ridiculous!

Looking at the many conditions in his pretty expensive policy which apparently was not given to him at the time of signing, it makes me wonder what they would pay for.

He is taking further action as the definition of an accident can mean an unforeseen event which his condition was. I wish him luck but will not hold my breath.

Other claims rejected (UK & FR policies) all I thought were genuine and honest included more with travel, building insurance and gold credit card cover.

My own claim for a dental treatment was clearly covered even in the small print but I had to battle with the company eventually with the threat of legal action before they paid out.

Only one of us had a good story to tell with auto insurance. Her claim was against a third party at fault so her company did not actually pay anything.

I would love to name and shame but no doubt this would be deleted.

[PaulT]

Ah, you had the Monty Python Free naked lady and no payout policy.

A colleagues daughter bought a car from a dealer and took out Gap insurance, i.e. have an accident and the Gap insurance will pay the difference between what the motor insurance company pays out and the price paid if the car is written off. She was rear ended and her car written off. The Gap insurance is saying that the motor insurance company should be paying out a far higher figure than what they have offered which would be nearly what she paid for the car which does not happen. I dare say in the Gap insurance small print it will say 'the difference between our valuation and what you paid for it'.

[Chancer]

I carry only the minimum insurance where it is a legal requirement, if I have a problem I sort it out by my own means, I have seen far too many people battling for years against insurance companies, loads of grief for them at a time they should be receiving the peace of mind that they thought they had paid for.

I used to have a burglar alarm business so used to see the aftermath which could often drag on interminably, what realy pee'd me off was sometimes people just wnated to get on and put right the damage/loss themselves (a company where every computer was stolen springs to mind) but no they were not allowed to while the insurers dragged their feet.

On the positive side when its a big claim like a house burnt down and they realise that they cannot wriggle out of it or even better can hold a 3rd party insurer liable then they move heaven and earth and can give an amazing personal service because either they will not be paying the bill or have no choice but to. Tthey know that it costs no more to do things promptly and with a smile and it will give them good publicity to counter all the other claims they screw people over on.

[powerdesal]

Many years ago, in Zambia, motor insurance (compulsory) was handled by the State owned Insurance Co. Eventually they went broke so, in the event of a claim, they didn't pay out but offered 'free' future insurance to the value of the claim !!!!!!!!!!!!!!!

[dave21478]

I'm with Chancer on this....I buy the absolute minimum insurance I can legally get away with. Past experience has shown me that paying extra was a complete waste of money and only led to grief and more financial losses hen I tried to pursue things.

[cooperlola]

OK.

I found that a leak from a water pipe had destroyed the ceiling in my bathroom (beams rotted through etc.)  Insurance company attended two days after I had found the problem and the next day had put 1000k into my account to pay for a temporary shower cubicle to be installed whilst we waited for the proper survey to be done and the workmen who had caused the problem to be contacted to sort the finances out between the companies.  My insurance had paid up in full three months later and all the damage had been repaired. (Pacifica).

I wrote off my car and I got more than the market value for it and was able to replace it with a bigger, newer car than the one which had been totalled.   They also paid me 3k€ for the computer, camera, glasses etc etc which had been destroyed in the crash. (MAAF)

The insurance company of the guy who caused my accident has to date paid nearly three hundred thousand euros in treatment costs, they have paid for an adapted bathroom for me and they give me 14 hours home help a week. (AXA). 

Do I think insurance is worth it?  Yes, I do.[:D]

[Rabbie]

It is always the people who have had problems getting their money that complain about insurance companies. Only rarely do people bother to spread the good news when everything works well.

[cooperlola]

[quote user="Rabbie"]

It is always the people who have had problems getting their money that complain about insurance companies. Only rarely do people bother to spread the good news when everything works well.

[/quote]It's the reason why I'm always sceptical about peoples' recommendations for  insurance companies.  They are usually based on cost, not service, because you never really know about the latter until you make a claim.  Both Sunday Driver and I have had good experinces with MAAF (whom I am sure are also the main reason why AXA are co-opertating).  They're not the cheapest, but they have certainly done me proud.

[just john]

[quote user="Rabbie"] It is always the people who have had problems getting their money that complain about insurance companies. Only rarely do people bother to spread the good news when everything works well. [/quote]

Probably the average case doesn't involve personal injury, and why would the majority complain unless there was something wrong with their claim; the majority don't even claim, isn't this the reason Insurance companies make a profit, (AVIVA Operating Profit £3,966,000,000)

My personal experience is of delays, fees paid to ''Independent assessors'' and in my case of a stolen/written off car, less than half the replacement cost paid out. In the case of a burglary, failure to notify that a new lock had been fitted, so claim was denied completely.

[Chancer]

As and when I do get my building insured again and have a car good enough to insure then I will definitely give the MAAF a try, I follow recommendations in two ways, for the car for instance where I only want the minimum tiers risques then I would ask questions on price, for something that I value and decided to insure I woud be looking for recommendations like Cooperlola's or Sunday Drivers.

I do note however Cooperlola that both your claims that were/are being met in full with MAAF bending over backwards to help you are both ultimately the responsibility of 3rd party insurers and Maaf presumably will make a full recovery and hence are not scrimping in any way, which does rather bear out what I said doesnt it!

[audio]

Rabbie wrote:

‘It is always the people who have had problems getting their money that complain about insurance companies. Only rarely do people bother to spread the good news when everything works well’.

What’s wrong with complaining about bad insurers?

We should not have to complain, all I and most others want is reasonable value for money. I.e. if you have a valid claim the insurers should pay up without question, not argue, raise our blood pressure and make us seek legal help.

As for spreading the good news, what good news, when’s the last time you praised your local insurance agent for giving you good value for money? No you won’t do that, he will raise your premiums.

[AnOther]

I can only speak as I have found.

I've had 2 brushes with insurance companies since living here, one for a burglary and a second for a no fault car accident. In both case I had very fair and prompt settlements.

For the record the former was with GAN and the claim amounted to over €4000 and included (reduced) payouts some items which were many years old but for which we still had receipts and in some cases photographs.

The latter was with AxA for about €1800 and they were quite happy for me to do the repairs myself (it was my MG and I'm fussy about who touches it) and reimburse my expenses in full.

[Rabbie]

[quote user="audio"]Rabbie wrote: ‘It is always the people who have had problems getting their money that complain about insurance companies. Only rarely do people bother to spread the good news when everything works well’. What’s wrong with complaining about bad insurers? We should not have to complain, all I and most others want is reasonable value for money. I.e. if you have a valid claim the insurers should pay up without question, not argue, raise our blood pressure and make us seek legal help. As for spreading the good news, what good news, when’s the last time you praised your local insurance agent for giving you good value for money? No you won’t do that, he will raise your premiums.[/quote]There is nothing wrong with complaining about bad insurers. My point was that you don't get a balanced view from comments on forums for the reasons that you give.

So often people go the cheapest rather than checking up with friends etc on how good the company is when you make a claim.

[cooperlola]

[quote user="Chancer"]

I do note however Cooperlola that both your claims that were/are being met in full with MAAF bending over backwards to help you are both ultimately the responsibility of 3rd party insurers and Maaf presumably will make a full recovery and hence are not scrimping in any way, which does rather bear out what I said doesnt it!

[/quote]Point taken, but in both the Pacifica case and the MAAF one, they paid me long before any decision had been reached as to who was at fault (in the case of the accident it was 12 months before the court decision about who had caused it.)  So yes, there was - from my account - a reasonable expectation that it wasn't my fault but it could have gone either way and yet they coughed up for their bit straight away.  In the case of Pacifica, they paid for a temporary "fix" (a shower we could use) whilst they sought recompense from the builders, but the fact that this was paid for within 48 hours was good.  I admit though, that I did play up the fact that I was disabled so washing next to sink is a bit of a no-no.[:D]

[audio]

Cooperlola wrote

‘The insurance company of the guy who caused my accident has to date paid nearly three hundred thousand euros in treatment costs, they have paid for an adapted bathroom for me and they give me 14 hours home help a week. (AXA). ‘

That must have been one helluva crash, are you well on the way for a full recovery? I wish you well.

[mint]

Coops, you mean you actually have a flaw in your character?

Playing the Disabled Card, shame on you![;-)]

Still, not long now before you'll be driving in the le Mans 24 hrs?[:D]

[Sunday Driver]

[quote user="sweet 17"]

Still, not long now before you'll be driving in the le Mans 24 hrs?[:D]

[/quote]

Only if they make slicks to fit a wheelchair....

 

[cooperlola]

[quote user="audio"]‘ That must have been one helluva crash, [/quote]Yes, just a bit..

 

[IMG]http://i134.photobucket.com/albums/q103/cooperlola/AuSe08093.jpg[/IMG]

I'll never be quite the same, but much better than I was for a while, that is for sure.  Thanks for your thoughts.

 

Now, S/D, about those slicks.  Anybody know a good internet site which delivers to France?

As you probably know, as well as "the" race, there is also a 24 hour bike version, plus karting, running and even one for roller skates.  It's crossed my mind a few times that they should hold a 24 hour wheelchair race for charity![:D]

[PaulT]

[quote user="cooperlola"]

I found that a leak from a water pipe had destroyed the ceiling in my bathroom (beams rotted through etc.)  Insurance company attended two days after I had found the problem and the next day had put 1000k into my account to pay for a temporary shower cubicle to be installed whilst we waited for the proper survey to be done [/quote]

Wow - a million for a temporary sohwer - you do not live in a palace beginning with V near Paris do you? [:D]

[cooperlola]

[quote user="PaulT"][quote user="cooperlola"]

I found that a leak from a water pipe had destroyed the ceiling in my bathroom (beams rotted through etc.)  Insurance company attended two days after I had found the problem and the next day had put 1000k into my account to pay for a temporary shower cubicle to be installed whilst we waited for the proper survey to be done [/quote]

Wow - a million for a temporary sohwer - you do not live in a palace beginning with V near Paris do you? [:D]

[/quote][:-))]  I meant € of course.  Ooops.

That's inflation for you. 

Ooo,er posts into 5 figures[blink][blink].  I must get a life.

[just john]

[quote user="cooperlola"] [IMG]http://i134.photobucket.com/albums/q103/cooperlola/AuSe08093.jpg[/IMG] [/quote]

Same old story, a bit of a bump and the insurance company writes it off instead of fixing it back up . . . .[6][:D]

PS how's it going since the meet,?

[mint]

[quote user="cooperlola"]

[quote user="audio"]‘ That must have been one helluva crash, [/quote]Yes, just a bit..

 

[IMG]http://i134.photobucket.com/albums/q103/cooperlola/AuSe08093.jpg[/IMG]

I'll never be quite the same, but much better than I was for a while, that is for sure.  Thanks for your thoughts.

 

Now, S/D, about those slicks.  Anybody know a good internet site which delivers to France?

As you probably know, as well as "the" race, there is also a 24 hour bike version, plus karting, running and even one for roller skates.  It's crossed my mind a few times that they should hold a 24 hour wheelchair race for charity![:D]

[/quote]

 

Well, there's always the paralympics in London next year!

You thinking of a souped up wheelchair?[:D]

[binakaradia]

Insurance is good and worthful,if a person doesn't mistaken in his part of facing incident like accident.This person gets insured with formalness and legalness in approach which takes few days.

[P-D de Rouffignac]

The one piece of advice I offer to clients and friends is to use a good local French insurance company (or agent). I have used the local agency of one company for the past ten years since arriving here, with the same owner and staff that I meet face to face or over the phone, and who sort out problems immediately - including on-the-spot cover for people buying a property and who have forgotten about getting insurance cover on the morning they are going to the Notaire to complete the purchase. Others may choose to spend hours on the internet looking for a few euros savings here and there, but the question I ask is Where are these people when it comes to a claim? My local agents have paid out within days, sometimes on account to tide customers over; arranged an expert visit and estimate within 48 hours; and cancelled a vehicle insurance instantly after a breakdown/write-off - half way through the current month.

It sometimes pays to shop locally. P-D de R.

[audio]

"binakaradia" wrote

'Insurance is good and worthful,if a person doesn't mistaken in his part of facing incident like accident.This person gets insured with formalness and legalness in approach which takes few days.'

Not too sure I understand that, it's a bit like the small print wording on my policy.