BTL Insurance & Errors on Policy
Discussion
One for the landlords.. after some advice regarding BTL Insurance and how I should proceed..
Took on some BTL Portfolio cover back in February, in which time I had just become a father for the first time to a beautiful baby girl, 7lb 7 ½ all healthy.
Once I had paid the monthly premium and received the documentations I actually reviewed it, and found various discrepancies, which were raised with the broker. Mistakes on their part. At the time I was running a failing online estate agency business and running around like the proverbial headless chicken. For whatever reason I admit to not noticing on my bank statements the inflated premium which had appeared on my statements. I am surprised I didn’t spot it, being a QS by trade but ey ho, there it was, a 43% increase due to the various errors.
Fast forward 9 Months when I got a phone call because the last Months (of 10) payments had failed, due largely to switching banks, and trusting Halifax to switch all the s/o and dd without fail.. nice lady on the end of the phone asked for the payment, only when she asked for the amount did it become clear I had forgotten about something…
So, fast-forward to today, asked her to listen to the phone call from February, which she did and confirmed it was a mistake on the part of the slick salesman at the time, and then decided without asking for authorization changing the policy with the increased premium instead of taking it on the chin.
The strange thing now is that the salesman, the nice girl, and now his boss are phoning me apologizing on their personal mobile phones – I assume so that these calls stating they were wrong, are recorded. They know it was a mistake on their part, but as I see it I would like the increase that was their mistake refunding? Is this too much to ask? They are saying that they cannot do this and that they will make sure that at next renewal they will do me a good deal – the times I have heard that are numerous…
As they see this as sorted and final – is it worth me complaining to the FSA ?
I know it has taken me all this time to realize, and I admit I should have realized….
Thoughts?
Took on some BTL Portfolio cover back in February, in which time I had just become a father for the first time to a beautiful baby girl, 7lb 7 ½ all healthy.
Once I had paid the monthly premium and received the documentations I actually reviewed it, and found various discrepancies, which were raised with the broker. Mistakes on their part. At the time I was running a failing online estate agency business and running around like the proverbial headless chicken. For whatever reason I admit to not noticing on my bank statements the inflated premium which had appeared on my statements. I am surprised I didn’t spot it, being a QS by trade but ey ho, there it was, a 43% increase due to the various errors.
Fast forward 9 Months when I got a phone call because the last Months (of 10) payments had failed, due largely to switching banks, and trusting Halifax to switch all the s/o and dd without fail.. nice lady on the end of the phone asked for the payment, only when she asked for the amount did it become clear I had forgotten about something…
So, fast-forward to today, asked her to listen to the phone call from February, which she did and confirmed it was a mistake on the part of the slick salesman at the time, and then decided without asking for authorization changing the policy with the increased premium instead of taking it on the chin.
The strange thing now is that the salesman, the nice girl, and now his boss are phoning me apologizing on their personal mobile phones – I assume so that these calls stating they were wrong, are recorded. They know it was a mistake on their part, but as I see it I would like the increase that was their mistake refunding? Is this too much to ask? They are saying that they cannot do this and that they will make sure that at next renewal they will do me a good deal – the times I have heard that are numerous…
As they see this as sorted and final – is it worth me complaining to the FSA ?
I know it has taken me all this time to realize, and I admit I should have realized….
Thoughts?
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