BS: Insurance Small Print

Subject: BS: Insurance Small Print
From: Alan Day
Date: 27 Apr 11 - 02:43 PM

Many like me have been ripped off by Insurance Companies who get away with it with small print get out's.
It is about time Insurance got cleaned up and what we are insured for and not insured for should be clearly defined.
Al

Subject: RE: BS: Insurance Small Print
From: GUEST,Eliza
Date: 27 Apr 11 - 03:55 PM

I agree, Alan. Sometimes when I've bought insurance over the phone and tried to get ALL the details of the policy, I've been told I'd get the schedule once I'd agreed to have it! I know you have a few days to cancel it, but they're counting on people not bothering to check. I've noticed that when I persist, the 'advisor' gets very vague and waffly, talking fast and trying to smokescreen the issue. I suspect they're trained to do this, as it happens a lot. The bottom line with insurers is, they want your money, but as far as possible they do NOT want to pay out.

Subject: RE: BS: Insurance Small Print
From: Richard Bridge
Date: 27 Apr 11 - 03:58 PM

THREE right. That's one more than too right.

Subject: RE: BS: Insurance Small Print
From: GUEST,999
Date: 27 Apr 11 - 04:43 PM

Insurance companies are horrid!

Subject: RE: BS: Insurance Small Print
From: Ed T
Date: 27 Apr 11 - 04:48 PM

A friend of mine is a lawyer, who specializes in Insurance law.
He once told me that insurance law was written by the insurance companise. So, they will always have a "way out" of paying for something they dont want to pay (aka,small print). That about sums it up.

Subject: RE: BS: Insurance Small Print
From: bobad
Date: 27 Apr 11 - 05:25 PM

I have a brother-in-law who is self employed as a handyman/builder. He purchased disability insurance in case he was disabled and unable to work. He sliced through his hand with a circular saw, losing a few fingers and sustaining nerve damage. The insurance company basically told him they were not paying anything and he could take them to court if he didn't like it. So one is left with the dilemma of going to court and paying thousands of dollars to lawyers when you have zero income to take on the insurance company's bevy of retainered lawyers and possibly losing your case. BASTARDS!

Subject: RE: BS: Insurance Small Print
From: GUEST,Eliza
Date: 27 Apr 11 - 05:33 PM

I agree, GUEST999, and what an excellent adjective to choose.

Subject: RE: BS: Insurance Small Print
From: Alan Day
Date: 27 Apr 11 - 06:02 PM

A friend who worked with me had a small trading company and insured himself against a large sum of money borrowed from American Express. The deal fell through as his customer went out of business and he was left owing the money for the purchase of goods to the value of £130 000 (the sum he insured himself for). The Insurance Company walked away from it saying that it was a business deal and not a private deal, so therefore he was not covered, but they accepted his monthly payments with no problems.Unfortunately Bankruptcy was the only real option for him, but the case goes on.
As for me I was done out of £650 due to the day before my policy was due for payment ,the market dipped and due to small print they (AVIVA) could justify my reduction.Going to the Ombudsman was a waste of time because of the small print clause.
I have always had problems with Insurance companies their trickery needs sorting.
Al

Subject: RE: BS: Insurance Small Print
From: Janie
Date: 27 Apr 11 - 08:09 PM

I know you are mostly right, but it isn't always so.

My ex-husband had a house fire last August that did considerable damage. (One thing I never knew, but makes perfect sense in hindsight, is that putting out the fire causes an incredible amount of damage - of course, if the fire isn't put out, everything is lost.) The insurance company has been very helpful and has paid or done everything he expected of the policy. The insurance did not cover absolutely everything, but there were no unpleasant surprises.

Now, I should say our insurance agent is my first cousin's spouse. ( We both kept the same agent and stayed with the same insurance company when we parted ways.) He has always made sure we are fully informed about our policies and coverage, and limitations on the coverage. In other words, he makes sure we are informed of "the small print," and is careful to be sure we understand the implications.

My experience with insurance is it pays to use an agent who lives in the local community, is active in the local community, and whose business success within the community has been well-established based on integrity, trust and many satisfied customers who have had need to use their insurance coverage - which means customers who did not encounter "unpleasant surprises" from terms buried in small print. The small print will always be there. The biggest problem is not knowing about it, or not understanding what it means. A good agent will know the kinds of assumptions people are likely to make that are mistaken assumptions because they are either unaware of the small print, or don't understand it. S/he will want to be sure their customers understand their policies, simply because their business success depends on their local reputation.

Subject: RE: BS: Insurance Small Print
From: Alan Day
Date: 28 Apr 11 - 03:48 AM

Janie, a lot of what you say rings true, but the small print need not be there, The policy should state clearly what you are insured for and what you are not insured for. The small print is a smoke screen which we accept as it is part of an insurance policy and we should not. There is no way that any insurance company can wriggle out of a payment if the details are clearly defined. There should be no small print.
Al

Subject: RE: BS: Insurance Small Print
From: GUEST,Eliza
Date: 28 Apr 11 - 04:40 AM

Part of the problem lies in the small print being rather difficult for a non-expert to understand. (In my case anyway) And also that it IS in small print. Would it help us I wonder if each item of the small details were explained carefully before the policy is purchased? I've tried this on the phone, but the 'advisor' invariably backpedals and has evidently been trained not to do this! Another approach would be for the customer to describe what they require, down to the last point, and a tailor-made policy could be put together for them. I do feel that if one is buying something, one at least has a right to know WHAT one is getting.

Subject: RE: BS: Insurance Small Print
From: Alan Day
Date: 28 Apr 11 - 05:11 AM

Exactly Eliza, just what prompted my posting.
Al

Subject: RE: BS: Insurance Small Print
From: DMcG
Date: 28 Apr 11 - 05:47 AM

Would it help us I wonder if each item of the small details were explained carefully before the policy is purchased
Probably not. For one thing, there are just too many possible situations in most cases. I've have both bad and good experiences with insurance companies and certainly there have been occasions where I've lost thousands of pounds ('fully comprehensive' car insurance can be less comprehensive than you think, for example) but I don't think there's any easy solution to the 'small print' problem.

Subject: RE: BS: Insurance Small Print
From: Silas
Date: 28 Apr 11 - 06:52 AM

This time last year I had to go into hospital for some rather serious heart problems. I was of work for a month. I had sickness cover on my mortgage, but, because I was off work for 30 days, they would not pay a penny, if I had been off for 31 days, I would have been paid.

Bastards.

Subject: RE: BS: Insurance Small Print
From: Ed T
Date: 28 Apr 11 - 07:25 AM

What Janie says, about care in chosing an agent, rings true. My father sold insurance, and in many cases "went to bat" for clients with the companies he sold for ans in most cases it worked out to their advantage.

One should also understand that an agent works for the company and a broker represents you, to the companies. If a broker screws up, or misreporesents your case, he is representing you, not the company and the company is off the hook.

A few years ago I purchased a house. The application required me to sign that all the electrical wiring had been replaced within 20 years. I told them I believed this to be true, but could not certify it. They said, "it's OK, just sign anyway. I refused. I knew that if I signed and my house burned "for any reason", and the insurance company found one tiny wire had not been replaced (I lied), the company could technically say my coverage was invalid.

Subject: RE: BS: Insurance Small Print
From: lefthanded guitar
Date: 28 Apr 11 - 02:19 PM

We're really at the mercy of these companies and often don't find out til a mishap if you are covered or screwed. I actually was GLAD that I bought additional insurance on a car rental from Enterprise a few years ago, for a trip I took down south. I had minimal coverage on my old car(which I didn't want to chance taking over the steep mountain road) but I doubt it would have covered having the rear end of the Nissan I rented crumpled, which I discovered when I returned to the parking lot after sightseeing. Insurance covered it totally and it was a relief. Replacing those bumpers can be more than the cost of a small used car.

Subject: RE: BS: Insurance Small Print
From: Bill D
Date: 28 Apr 11 - 02:31 PM

In the US, most states have an Insurance Commissioner that you can appeal to when you think you are being screwed... I've used them twice, and gotten satisfaction.

I've made 2 claims for damage to my house in 27 years, and no problems either time. It just depends.

Subject: RE: BS: Insurance Small Print
From: Richard Bridge
Date: 28 Apr 11 - 03:36 PM

It would be good if the Unfair Contract Terms Act had its inbuilt exemption for contracts of insurance deleted, and the overall field of car insurance is ripe for our Masters Which Art in Brussels to set minimum obligatory standards of cover and uniform langauge and exemption requirements. In stead of concentrating on straight cucumbers or bananas.

Subject: RE: BS: Insurance Small Print
From: Ed T
Date: 28 Apr 11 - 04:25 PM

If you do a Google search under Insurance Commissioner and there is a lot of good insurance info. under each state office.

For example, below is a good site to fish around for information.

Insurance Commissioner, Washington State

Subject: RE: BS: Insurance Small Print
From: GUEST,999
Date: 28 Apr 11 - 04:29 PM

Why, thank you, Eliza. It`s nice to see you back to your charming self again.

Subject: RE: BS: Insurance Small Print
From: Wesley S
Date: 28 Apr 11 - 04:30 PM

Decades ago my mother car was in the parking lot of the office she worked at. An accident happened at the corner - a car jumped the curb and hit my mothers parked car. Her insurance was canceled after she filed a claim because now she was a "risk". I've hated insurance companies ever since.

Subject: RE: BS: Insurance Small Print
From: Ed T
Date: 28 Apr 11 - 05:32 PM

Wesley S, that happened to three of my friends. The company in all three cases was Allstate.

Subject: RE: BS: Insurance Small Print
From: GUEST,999
Date: 28 Apr 11 - 05:39 PM

I do NOT suggest the following as a solution.

However, I think this kind of crap will continue to happen until such time as disgruntled clients walk into board meetings and spray bullets around. Little else will get their attention.