Home Insurance Claim - Cant Agree

A

A99

Registered User
Messages
68
Hi : what is the usual process is you can not agree on the value of an insurance claim ?

i.e. settlement offer is too low ?
 
Did you use a claims assessor to submit your claim or did you just do it yourself? It might help if you provide a bit more detail about your claim.
 
No I am handling the claim myself - being going back & forth for some time but cant agree a settlement, so just wondering what is the next step => is it escalated to another party ??
 
As I said earlier you would have to expand on your situation a fair bit before advice could be given.
 
There is not enough information on which to give a reasoned opinion so this is a general reply.

Most insurance policies will have an arbitration clause. This will provide that any dispute between the insurer and the policyholder must be resolved by an arbitrator who is a neutral party.
Arbitration must be sought within a certain time period running from the date of disagreement.
If you do not seek arbitration within the specified time period you may be deemed to have abandoned the claim.
Arbitration costs money.

Alternatively, you could refer the dispute to the Financial Services Ombudsman. Link [broken link removed]
I think that this option does not cost you anything irrespective of the outcome.
Note that the decision of the FSOB is legally binding on both parties.
 
You must log in or register to reply here.
Back
Top