Quote:
Originally Posted by Rod[_5_]
On Friday, 29 June 2012 06:09:51 UTC+1, Christina Websell wrote:
I have never experienced any hailstones like those. I got away with the
glass (phew) but my car has been dented. Insurance don't want to cover it.
They say it was an Act of God and they cannot be responsible for that.
I say if I pay my insurance money, they should pay up.
What do you think?
It's about time the OFT had a look at these clauses. It's silly and iniquitous that companies should get away with such things in these more enlightened times.
We take out insurance against unexpected events and no unreasonable exclusions should be allowed in the contracts. Not much point in 'comprehensive' cover otherwise.
Rod
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But you have to look at it from their point of view too. They have to be able to statistically quantify the risks so they can set the premiums at a level where they can cover all claims and make a profit. If they can't work out the probability of an event happening, then they risk going out of business if they cover it. And if they can quantify it, but the expected loss to them is large, then they'll have to increase premiums,
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