All Property Insurance

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Wordings – unfair terms

Your policy may have an “Unfair Term” in it which restricts the amount of money you could receive when you make a claim.

An example of this is when, after making a claim, an insurer will curtail its settlement saying that it will only pay what it would have paid its own contractors to do the job.  However, you may only be told this figure after you have purchased the policy and already made a claim. This could cause problems if you are trying to arrange repairs of damage following a claim when you are trying to use your own builder.

If the insurer has written wording along the lines above into your policy it is possible that the term may be an “Unfair Term”.  Put simply, an unfair term is a term which, contrary to good faith, creates an imbalance between the rights and obligations between the insurer and the policyholder.

The Consumer Rights Act 2015 [ CRA ] has a section which deals with Unfair Terms. The CRA may apply to you as a consumer.  This is a complex area of the law and requires expert advice. In some cases the Financial Ombudsman Service will look at problems where insurers have used unfair terms.

It is always best to read the policy terms for all clauses which may restrict claims settlement and get expert advice before purchasing such a policy.

If you feel your policy has an Unfair Term you may call us and we will give you suggestions as to what paths you may consider following to get the best advice.

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