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Double Jeopardy Warning From Gocompare

21 March 2014 | Updated 01 January 1970 is warning fleet managers to advise staff who claim per mile to check what insurance cover they already have in place through their bank accounts and home insurance policies or risk paying dear if they need to make a claim.

Some value added or ‘packaged’ bank accounts come with travel, mobile phone and breakdown insurance included and some home insurance policies also cover possessions away from home – but if someone has one of these insurance policies separately, from another provider and they make a claim, they could end up paying a lot more for their next policy.

Most insurance policies have ‘contribution clauses’ which state that if cover is provided by another insurance policy and a claim is made, the respective insurer would only pay their share of the claim.

If a customer made a claim, the insurer may ask whether there are any other policies that could cover the incident, if there are, the insurer could ask the other insurance company to make a ‘contribution’ – the insurance companies would then calculate a proportionate amount of excess for both policies, as stated under both insurer’s terms and conditions.

This also means that the customer would be making two claims, which would have to be declared when shopping around or renewing the following year and could see insurance costs increase.

Article written by Brian Shillibeer | Published 21 March 2014


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