Policy cancellation after claim against 3rd party

My advice is: talk to a solicitor. Insurance companies are notoriously slippery and vague and you'll end up being out of pocket if they even suspect you're not sure of where you stand. Getting a solicitor involved is the only way to make sure you don't get screwed.
 
My advice is: talk to a solicitor. Insurance companies are notoriously slippery and vague and you'll end up being out of pocket if they even suspect you're not sure of where you stand. Getting a solicitor involved is the only way to make sure you don't get screwed.

that will just add further cost - often the telesales person does not understand the insurance contract. The OP should read the contract and find out under what conditions the policy can be cancelled or considered settled.

I suspect the telesales person has got confused and thinks the underwriter has "settled up" when this has actually been done by a third party insurer. I would expect the policy to continue with a new vehicle. In fact, if I was the OP I would not have told them about the deal with the other insurer. I would identify the replacement vehicle and just change the policy to cover the new vehicle. The exact details of the deal struck up with the 3rd party is not really the business of the OP's own insurer as they seem to have washed their hands of the matter. The OP's insurer has been informed of the incident and that is all you are obliged to do under a contract of insurance. The settlement figure agreed with the third party is not a "significant event" and has no bearing on your risk profile. The significant event was the incident itself, and when the OP informed them their attitude seems to be, "whatever, deal with the third party."

I would ask to speak to the underwriter rather than someone hoping to get an answer by typing in keywords to a FAQ. If that does not work, I would write, letting them know the error of their ways.
 
When my lad wrote off his Yaris, I thought the policy would be cancelled but in fact it wasn't so we bought an identical car and ran that through to the end of his policy.
His renewal was 33% less than his existing policy even given the fact they had paid out the thick end of 6 grand!

Couldn't quite understand that but was grateful none-the-less.
 
T's &C's Endorsement Code 258...

"Cancel Total Loss...
In the event of a claim under this Policy if settlement is made for the Total Loss of the insured Vehicle the Policy will be cancelled and therefore cease to be operative, no refund of the premium will be given"...

God I love T's & C's when you have a read of them and know your rights... I did actually read this when I renewed the policy...Interesting phone call Monday morn coming up...;)
 
As per usual in life its all a bit of a fuck up ... My brokers Bikesure are the people I am speaking to re the change to policy... Markerstudy are the underwriters who I spoke to initially after getting re routed through Bikesure... I spoke again directly to Markerstudy the day after the accident to say that they could close their claim as I was dealing directly with the 3rd party ins co... The call was logged by Markerstudy but Bikesure didn't see that on their database and thought the claim was still live with them...!

Now I have to wait 24 hours for the details to be updated on Bikesures database after their uninsured loss contactors who I have spoken to, Bankstone checked with Markerstudy and closed the Bankstone file on their database... You couldn't make it up and this is only the people who I have dealt with at my end... I have also listed another 3 or 4 numbers of people I have spoken to at the 3rd parties ins co...

I was very lucky as my injuries were slight and I was mobile and able after the accident... WTF do people who are lying in a hospital bed do about all this shit... Hours of calls to different people to get it sorted... Hmmmm... All for a dozy old git who probably shouldn't have been on the road...


Tomorrow is another day...:rolleyes:
 
All sorted in the end... I must have spoken to approx 20 people with this claim... Some even worked for the same co....! Keep track of all the tooings and froings... :)

Ps Sometimes the dozy gits are like guided missiles... Locked on...:)
 


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