Home Insurance - Some Tips from yer "Uncle" Nick

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
19/11/2009 10:39

One of the most frequently used expressions in the Insurance industry here in North Cyprus is:



“YOU ARE FULLY COVERED”



The truth is often far from that, as policies are regularly being sold by in-experienced agents, that focus on the commission they will receive rather than the needs of the client.



More experienced agents have been known to “cut” the cover down to artificially lower their quote, hoping the client will never need to claim for those particular perils missing from the policy.



Examples could be - no cover for:



Subsidence damage to the building.

Earthquake damage.

Damage caused by malicious persons.

Impact of vehicles.

Impact of aircraft.

Accidental breakage of glass.

Removal of debris (ie the building rubble) following a total loss claim.

Loss of rental income.

Personal liability (Public Liability to members of the public)



Continued....

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
19/11/2009 10:44

Why not ask your existing insurer if you are covered for ALL of the above, as well as the usual "fire, theft etc"..



And when they say "don't worry, you are fully covered" - ask them to show you in the policy where the cover is shown - remember, if it don't say it's covered - it wont be...



I think many of you will be very surprised, to say the least.....

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
19/11/2009 12:12

The banks will tailor the policy for you.

Best bet is to e-mail your contact there and say what cover you want including and ask them to quote for it in writing by return e-mail.

My bank provided a detailed policy immediately for exactly what I wanted and at a very reasonable premium.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
19/11/2009 12:47

mess 3 - how would the average "punter" know what he wants ?? - its quite complicated you know.....

jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
19/11/2009 13:40

Msg4 NN - how patronising!!

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
19/11/2009 14:10

mess 5 - not patronising at all - the average punter goes in like a lamb to the slaughter and walks out with a documet he doesn't even read, then when there is a problem, digs it out....





Remember the headline on the front of Cyprus today a few months back ? - insurer wouldn't pay for £10,000 of jewellery stolen from an ex-pat's home ??

jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
19/11/2009 14:50

Yes, well Nick if you say so it must be true!!

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
19/11/2009 17:20

The average punter has normally had a house in UK for some time before he arrives in TRNC.

The average punter has a reasonable brain to have made it thus far.

He can read this site.

He can sit and think about it.

He can get literature from banks and brokers.

OK there are some below average punters who ask dim questions on here without researching their problem.

But most should be able to handle a bit of fact finding or just take the first policy they are offered. Iktisat and CW give you a list of what you might want quoting for which is fairly comprehensive and they do it quickly!

The residents in the main have time to do this, I did it in 48 hours because I still have to work here in the UK!!

JohnMclovin


Joined: 27/08/2009
Posts: 37

Message Posted:
19/11/2009 19:33

that not true nick your making it up again blah blah blah as always.

janjin



Joined: 10/04/2008
Posts: 488

Message Posted:
19/11/2009 23:02

Hi Nick

We were offered contents insurance from 2 agents even though the place was insecure at the time!

Also the prices varied - incredibly.

ricky


Joined: 26/01/2009
Posts: 294

Message Posted:
20/11/2009 12:29

What do you thinik about Seker Sigorta?

JohhnyLee


Joined: 25/04/2009
Posts: 2495

Message Posted:
20/11/2009 20:07

Whatever your opinion of NN may be, This is one certain fact. he is very very clued up ,when it comes to insurance,



He as many many years quality experience within this field.



Love him or hate him, you would be wise to listen to him.