House Insurance - please minister to?
A friend of mine took out a home insurance policy last year (sep-06). His tank surrounded by the airing cupboard has now burst and his house is flooded. He contacted his insurance company and they informed him that the direct debit have been cancelled in January 07.
He lost his debit card within December and the bank refused to money the insurance company and cancelled the DD as they had the incorrect card details (from his lost card).
What is the best thing for him to do presently?
Is it the banks fault for cancel the DD or the insurances for not requesting an alternative payment method - no correspondance has be received from the bank or the ins company?
Answers:
Is near a mortgage on the house? Most times a mortgage company would be notified of cancellation and they will issue a policy on the property. I would ring the mortgage company and ask if that has been done. If not, a legal representative may be needed. Source(s): http://www.findlocalinsurance.com
A direct debit isn't set up against your debit card, it's directly through your bank account so this shouldn't own made a difference to his direct debits if he lost his card
you sure the dd was on the card not the rationalization?
he needs to check that first he should have a copy of the agreement, if it be on the account that would be the banks knock, but in cases where this happen the insurance company would normally write to you asking if the dd was canceled by mistake or if he would resembling to make an alternative method of payment.
recount him to check with the bank around the cancellation and did they cancell anything else if he can get the hill to say it's there bad habit he then needs to speak to the insurance company something like reinstating the policy and paying whats outstanding, Source(s): insurance consultant
In exchange for a few conditions the insurance companys agrees to cover insured peril written in the policy. Generally the only conditions the insured (your friend) are subject to are:
1. Payment of premium
2. Prompt reporting of adjectives losses/claims
3. No Abandonment (if home burns you cant take the money and run)
The rest can vary by insurance company but item one is the one that have no grey area. State law also have mandates of notification. The insurance company must notify within x amount of days of any cancelation of policy or non renewal. As long as the address on report was valid and they saved documentation of mailing cancel notice that is generally adjectives they need to exit the contract and comply with state insurance law.
If the bank failed to discharge the bill due to negligence, it might be possible to sue the bank for damages.
It might also be possible to sue the manufacturer of the "cistern in the airing cupboard" for defects
Probably down to his bank - a direct debit comes directly form the explanation of the holder - they should not have cancelled the direct debit without his authorisation - describe him to ask the bank (in writing giving 7 days to reply) to show him their signed and authorised copy of his cancellation request. If they can't supply it - later it's time for him to start jumping up and down and giving the Bank what for!
It could fall on the bank , but ultimately , he is responsible for making sure adjectives bills get paid..also gross sure the homeowners insurance covers water damage or flooding within that situation , it is not included automatically with most policies , if he reported the card as lost or stolen the bank may hold froze his account to prevent illegal distraction on or against his account , he should have clarified to the mound not to freeze any automatic withdrawals or debits , that are already set up..sometimes you enjoy to tell them , they can not read your mind in that situation , typically they freeze all incoming ,and outgoing transactions until authorized by account holder ((after explanation is frozen)) to resume payments ..check the fine print on policy regarding "reporting lost or stolen debit cards "
Your friend needs proper lawful advice on this - however your friend must have received a reminder from the insurance provider stating that payment had not be received and that cover would be stopped?
If the policy has not been compensated then the insurance company have every right to annul cover - however it sounds like the bank may own been at fault and this is where on earth your friend needs legal suggestion - your email is a bit confusing though - because the direct debit would come from the account not the card itself and therefore unless near were insufficient funds there is no justification why the bank should cancel it?
thats y pls take insurance policy surrounded by good banks...................
i hope this will serve u..... Source(s): http://www.insurance-assurance.110mb.com
Related Questions:
He lost his debit card within December and the bank refused to money the insurance company and cancelled the DD as they had the incorrect card details (from his lost card).
What is the best thing for him to do presently?
Is it the banks fault for cancel the DD or the insurances for not requesting an alternative payment method - no correspondance has be received from the bank or the ins company?
Answers:
Is near a mortgage on the house? Most times a mortgage company would be notified of cancellation and they will issue a policy on the property. I would ring the mortgage company and ask if that has been done. If not, a legal representative may be needed. Source(s): http://www.findlocalinsurance.com
A direct debit isn't set up against your debit card, it's directly through your bank account so this shouldn't own made a difference to his direct debits if he lost his card
you sure the dd was on the card not the rationalization?
he needs to check that first he should have a copy of the agreement, if it be on the account that would be the banks knock, but in cases where this happen the insurance company would normally write to you asking if the dd was canceled by mistake or if he would resembling to make an alternative method of payment.
recount him to check with the bank around the cancellation and did they cancell anything else if he can get the hill to say it's there bad habit he then needs to speak to the insurance company something like reinstating the policy and paying whats outstanding, Source(s): insurance consultant
In exchange for a few conditions the insurance companys agrees to cover insured peril written in the policy. Generally the only conditions the insured (your friend) are subject to are:
1. Payment of premium
2. Prompt reporting of adjectives losses/claims
3. No Abandonment (if home burns you cant take the money and run)
The rest can vary by insurance company but item one is the one that have no grey area. State law also have mandates of notification. The insurance company must notify within x amount of days of any cancelation of policy or non renewal. As long as the address on report was valid and they saved documentation of mailing cancel notice that is generally adjectives they need to exit the contract and comply with state insurance law.
If the bank failed to discharge the bill due to negligence, it might be possible to sue the bank for damages.
It might also be possible to sue the manufacturer of the "cistern in the airing cupboard" for defects
Probably down to his bank - a direct debit comes directly form the explanation of the holder - they should not have cancelled the direct debit without his authorisation - describe him to ask the bank (in writing giving 7 days to reply) to show him their signed and authorised copy of his cancellation request. If they can't supply it - later it's time for him to start jumping up and down and giving the Bank what for!
It could fall on the bank , but ultimately , he is responsible for making sure adjectives bills get paid..also gross sure the homeowners insurance covers water damage or flooding within that situation , it is not included automatically with most policies , if he reported the card as lost or stolen the bank may hold froze his account to prevent illegal distraction on or against his account , he should have clarified to the mound not to freeze any automatic withdrawals or debits , that are already set up..sometimes you enjoy to tell them , they can not read your mind in that situation , typically they freeze all incoming ,and outgoing transactions until authorized by account holder ((after explanation is frozen)) to resume payments ..check the fine print on policy regarding "reporting lost or stolen debit cards "
Your friend needs proper lawful advice on this - however your friend must have received a reminder from the insurance provider stating that payment had not be received and that cover would be stopped?
If the policy has not been compensated then the insurance company have every right to annul cover - however it sounds like the bank may own been at fault and this is where on earth your friend needs legal suggestion - your email is a bit confusing though - because the direct debit would come from the account not the card itself and therefore unless near were insufficient funds there is no justification why the bank should cancel it?
thats y pls take insurance policy surrounded by good banks...................
i hope this will serve u..... Source(s): http://www.insurance-assurance.110mb.com
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