Insurance

Gazzor
Gazzor Posts: 2
edited February 2011 in The bottom bracket
Hi all I am in need of some advice. I had a cycle stolen a few weeks ago that was insured up to the value of £2000. As part of the condition I was to secure the bike using a gold standard lock however the lock I was using was silver standard which only insures up to £1600. A simple mistake I made unfortunately.

Now the insurance company E&L Insurance have told me they will not pay out. I asked if they would payout up to £1600 leaving me at a loss of £400 but still nothing.

I have written the insurance ombudsman and am going to see a lawyer. I hope that at least since the lock insures up to £1600 they will pay that out but their argument is the bike was more attractive than £1600 so they are right not to pay out.

I did a search on here and the Internet and I have seen that apart from using the wrong lock insuring with E&L was a big mistake. I have read that they have been reported many times to the insurance ombudsman and been on BBC Watchdog