How long for Insurance theft claim to be settled?

lostmarbles
lostmarbles Posts: 4
edited May 2009 in MTB general
Just wondering if anyone has claimed for a stolen bike on contents insurance. Currently waiting for M&S/Aviva to sort one out, now at 8 weeks and counting. They had the receipts within the first week. Every time I ring I get told that it will be 48 hours from something happening, then no call and nothing happens........

Comments

  • Enwezor
    Enwezor Posts: 124
    Took about 10 weeks to settle with Axa and had to chase them myself.
    BTW......be aware that you can ask them to settle with a straight money transfer rather than have your claim fulfilled by their selected supplier.
    Wheelies is a company used by many insurers. I have nothing against them but I'd much rather spend my cash with my LBS. You always get less money as Wheelies will try and entice you with some freebies.
  • dimmockg
    dimmockg Posts: 471
    i had my settlement (cheque) within 2 weeks of my bike being pinched, provided the usual receipts, proof of purchase, details of the lock, crime number etc.

    I used fax and rang within an hour of faxing to ensure received, i also laid things on quite thick that the bike was used for work (which is true) and i'm now subject to a 3 mile walk each way (kind of true). Initially the insurer would settle via Halfords, but due to my bike (specialized) not a make they stock they settled via cheque - not sure if this sped the process up or not?
  • GHill
    GHill Posts: 2,402
    With Direct Line / Wheelies I had new bikes within a week. Wheelies would also let me upgrade the replacement bikes with some decent discounts.
  • dave_hill
    dave_hill Posts: 3,877
    The wheels of insurance grind exceedign slow. Especially with Norwich Union/Aviva.

    It took them 6 months to fully sort an accident I had while driving, even though it wasn't my fault.
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  • Mr Wu
    Mr Wu Posts: 1,238
    I am currently having a huge amount of trouble with Axa, to do with PPI. theyve taken nearly three months to sort out something that shouldve been done in a week, ive had to keep chasing them every week to get stuff sorted. I.e stuff they shouldve rang me about.

    Theres only one person that benifits from insurance and its not us lot.
  • paulscutt
    paulscutt Posts: 332
    PPI, in many cases has been missold so you should get a refund on this.

    As for insurers only benefiting from policies, i disagree - if your bike has been nicked and you've paid your premium of say £60 and the insurer pay you out £1000 for the bike, that doesn't seem a bad deal to me! lol
    And yes, it can take some time to get your money from them but insurers have to do certain fraud checks due to the amount of insurance fraud going on (increased over 30% in the past 2 years due to the receission) but in the end if these checks aren't done and fraud goes on increasingly unoticed, the only thing that will happen is everyones premiums will increase to cover the increase in costs paid out!
    **2009 Trek Remedy 8**

    Specialized P.3 (custom) w/ Deore hydro discs, XT group, Blackspire device, Mavic D321's
  • Mr Wu
    Mr Wu Posts: 1,238
    paulscutt wrote:
    PPI, in many cases has been missold so you should get a refund on this.

    As for insurers only benefiting from policies, i disagree - if your bike has been nicked and you've paid your premium of say £60 and the insurer pay you out £1000 for the bike, that doesn't seem a bad deal to me! lol
    And yes, it can take some time to get your money from them but insurers have to do certain fraud checks due to the amount of insurance fraud going on (increased over 30% in the past 2 years due to the receission) but in the end if these checks aren't done and fraud goes on increasingly unoticed, the only thing that will happen is everyones premiums will increase to cover the increase in costs paid out!

    They do make money if you think about the people who dont have there bike nicked, there in theory paying for nothing. Giving somebody money just in case..
  • Kiwi Kranker
    Kiwi Kranker Posts: 416
    All it takes is for one maggot like chav to take your pride and joy and you will thank your lucky stars you have insurance.

    I totally sympathise with the OP here though as you want to be able to get up and running as soon as you can. Fraud checks shouldnt take months, not everyone can go and replace there bike straight away and then wait for a payment which might or might not come through. I would almost put money on the fact that some insurance companies take ages just to try and see if the insured forgets or just plain gives up as it goes in the 'too hard' basket.
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  • paulscutt
    paulscutt Posts: 332
    Mr Wu wrote:
    paulscutt wrote:
    PPI, in many cases has been missold so you should get a refund on this.

    As for insurers only benefiting from policies, i disagree - if your bike has been nicked and you've paid your premium of say £60 and the insurer pay you out £1000 for the bike, that doesn't seem a bad deal to me! lol
    And yes, it can take some time to get your money from them but insurers have to do certain fraud checks due to the amount of insurance fraud going on (increased over 30% in the past 2 years due to the receission) but in the end if these checks aren't done and fraud goes on increasingly unoticed, the only thing that will happen is everyones premiums will increase to cover the increase in costs paid out!

    They do make money if you think about the people who dont have there bike nicked, there in theory paying for nothing. Giving somebody money just in case..

    yes they do make money - beacuse they are a BUSINESS not a charity! of course they are out to make a profit - you don't go in to your supermarket and protest about having to pay for food because we need it in order to live!
    **2009 Trek Remedy 8**

    Specialized P.3 (custom) w/ Deore hydro discs, XT group, Blackspire device, Mavic D321's
  • Regal
    Regal Posts: 55
    i had 4k worth of bike and powerkite gear stolen from my garage 2 years ago,,,,,,,, after a liong fight.. i finaly got a paltry 900 quid back last week,,,,,,

    Yup,, 2 years of fighting....... utter *&^%ards
  • delude
    delude Posts: 110
    Regal wrote:
    i had 4k worth of bike and powerkite gear stolen from my garage 2 years ago,,,,,,,, after a liong fight.. i finaly got a paltry 900 quid back last week,,,,,,

    Yup,, 2 years of fighting....... utter *&^%ards
    Whoa, sorry to hear about that!
    Did somebody break in?