Insurance - Being left without coverage.

[sandra777]

Hi I would like some advise but also thought I would post this as a warning to other owners.

Having bought a villa in Kissimmee and paying a local insurance agent for cover I got the usual cover note. I tried several times to get a policy from the agent who gave me various excuses but assured me I was covered. Eventually, after four months, I made my own enquiries direct with the insurance company quoted but found to my horror that I had been left without coverage. The agent then admitted that they had not arranged cover but said there may be an admin problem returning the premium I had paid. I have since got a policy through another agent with no problems.

Obviously, with hindsight I should have contacted the insurance company quoted on the cover note direct as soon as I had problems getting the policy and would advise anyone else to do this.

I would like to know what steps I can take to recover the original premium as repeated requests to the agent are always ignored.

[Chris7]

Well it happens in the UK too, although I accept that the distance makes things harder. In the UK your choice would depend on whether the agent is still trading. If they've gone bust you can probably kiss the premium goodbye but the the authorities would want to investigate the circumstances as there may have been a fraud (agents are supposed to hold funds which they collect on behalf of others in a client account).

If they are still trading I don't think we have the full picture. From your post, the agent doesn't seem to dispute any of the facts you outline. If it is a mix up, it's a big one, and they should be falling over themselves to give a refund (and thanking the lord that you didn't have a claim whilst off-cover). If it isn't a mix up and the underwriters didn't write the cover because the agent didn't instruct them, then it's fairly sure to be a federal offence!

[sandra777]

Chris7

Thanks for the info. The agent is still in business I dont know whether it was deliberate or a mix up but at one stage I was even quoted a policy number which turned out to be non existent.

quote:Originally posted by Chris7

Well it happens in the UK too, although I accept that the distance makes things harder. In the UK your choice would depend on whether the agent is still trading. If they've gone bust you can probably kiss the premium goodbye but the the authorities would want to investigate the circumstances as there may have been a fraud (agents are supposed to hold funds which they collect on behalf of others in a client account).

If they are still trading I don't think we have the full picture. From your post, the agent doesn't seem to dispute any of the facts you outline. If it is a mix up, it's a big one, and they should be falling over themselves to give a refund (and thanking the lord that you didn't have a claim whilst off-cover). If it isn't a mix up and the underwriters didn't write the cover because the agent didn't instruct them, then it's fairly sure to be a federal offence!

[chrizzy100]

quote:Originally posted by sandra777

Chris7

Thanks for the info. The agent is still in business I dont know whether it was deliberate or a mix up but at one stage I was even quoted a policy number which turned out to be non existent.

quote:Originally posted by Chris7

Well it happens in the UK too, although I accept that the distance makes things harder. In the UK your choice would depend on whether the agent is still trading. If they've gone bust you can probably kiss the premium goodbye but the the authorities would want to investigate the circumstances as there may have been a fraud (agents are supposed to hold funds which they collect on behalf of others in a client account).

If they are still trading I don't think we have the full picture. From your post, the agent doesn't seem to dispute any of the facts you outline. If it is a mix up, it's a big one, and they should be falling over themselves to give a refund (and thanking the lord that you didn't have a claim whilst off-cover). If it isn't a mix up and the underwriters didn't write the cover because the agent didn't instruct them, then it's fairly sure to be a federal offence!

How did you pay for it....our bank got 3 payments back for us after a company still took the money out our account........it cost $25....but we got back $150.......

[sandra777]

Chrizzy1000

I paid the years premium by cheque (just over $800) when I got the cover not.

quote:Originally posted by chrizzy100

quote:Originally posted by sandra777

Chris7

Thanks for the info. The agent is still in business I dont know whether it was deliberate or a mix up but at one stage I was even quoted a policy number which turned out to be non existent.

quote:Originally posted by Chris7

Well it happens in the UK too, although I accept that the distance makes things harder. In the UK your choice would depend on whether the agent is still trading. If they've gone bust you can probably kiss the premium goodbye but the the authorities would want to investigate the circumstances as there may have been a fraud (agents are supposed to hold funds which they collect on behalf of others in a client account).

If they are still trading I don't think we have the full picture. From your post, the agent doesn't seem to dispute any of the facts you outline. If it is a mix up, it's a big one, and they should be falling over themselves to give a refund (and thanking the lord that you didn't have a claim whilst off-cover). If it isn't a mix up and the underwriters didn't write the cover because the agent didn't instruct them, then it's fairly sure to be a federal offence!

How did you pay for it....our bank got 3 payments back for us after a company still took the money out our account........it cost $25....but we got back $150.......

[Chris7]

I don't have knowledge of how it works in the US, but over here you could report the agent to their professional associateion who would adjudicate on your behalf. If they find for you, the agent pays up or gets kicked out, if they find for the agent you still have the option of going to court if you are unhappy. At least the process will uncover some of the detail which seems to be lacking at present. It may be similar over there. Check and see if they are licenced or regulated as that would give you a good starting point. If you have any kind of paperwork from them, it may detail a complaints procedure to be followed in the event of a dispute.