Insurance Claim Question

A

ArtiXim

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Location
Cape Town, South Africa
Short of the long, I spilled tea into my laptop and it died. Fortunately it was insured and my insurance company have assessed the machine and have approved the claim. My problem is that they seem to be trying to force me to replace it through them, instead of paying me the assessed amount.

Is the normal? Nowhere in my policy document, does is say anything about them only replacing, rather than paying out.

I will be able to get a far better machine if I source it myself, compare to the options they are offering me.
 
ArtiXim said:
Short of the long, I spilled tea into my laptop and it died. Fortunately it was insured and my insurance company have assessed the machine and have approved the claim. My problem is that they seem to be trying to force me to replace it through them, instead of paying me the assessed amount.

Is the normal? Nowhere in my policy document, does is say anything about them only replacing, rather than paying out.

I will be able to get a far better machine if I source it myself, compare to the options they are offering me.
Click to expand...

Replace or pay out at their discretion. It's a normal thing, why would you have an issue with a replacement? I think they do replacements to prevent fraudulent claims. "Oops I spilt coffee, give me R 10k cash"
 
I totally understand that logic. It's less about having a problem with a replacement, and more about the fact that I can definitely get a far better replacement than the options they are offering, for the same value. The company they are sourcing through is obviously adding a markup, and I can definitely do better if I simply source something myself.
 
ArtiXim said:
I totally understand that logic. It's less about having a problem with a replacement, and more about the fact that I can definitely get a far better replacement than the options they are offering, for the same value. The company they are sourcing through is obviously adding a markup, and I can definitely do better if I simply source something myself.
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As per AlmightyBender,

Discuss it with your claims consultant :)
 
Pitbull said:
Replace or pay out at their discretion. It's a normal thing, why would you have an issue with a replacement? I think they do replacements to prevent fraudulent claims. "Oops I spilt coffee, give me R 10k cash"
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Because insurance companies usually have crappy suppliers who totally overcharge them and you can get something much better if you bought it yourself.
 
TJ99 said:
Because insurance companies usually have crappy suppliers who totally overcharge them and you can get something much better if you bought it yourself.
Click to expand...

True, but as I noted in that same post. It's not so much about paying more, it's about replacing it with a similar/same model. Paying out money encourages fraud tbh.
 
Pitbull said:
True, but as I noted in that same post. It's not so much about paying more, it's about replacing it with a similar/same model. Paying out money encourages fraud tbh.
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Why? Fraudsters gonna fraud anyway, whether they get cash or new stuff.

They shouldn't give you the same model, especially on a computer. If it's insured for R10k they should give you R10k,or a new machine fairly valued at 10k.
 
TJ99 said:
Why? Fraudsters gonna fraud anyway, whether they get cash or new stuff.

They shouldn't give you the same model, especially on a computer. If it's insured for R10k they should give you R10k,or a new machine fairly valued at 10k.
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As an example:

I can't pay my bond this month. O wait, "oops I spilt coffee on my laptop" - R 10k cash = win
You will be amazed ;)
 
Tell them you want to use the money to get a better more expensive one - not the same one.
 
Pitbull said:
As an example:

I can't pay my bond this month. O wait, "oops I spilt coffee on my laptop" - R 10k cash = win
You will be amazed ;)
Click to expand...
Oh wait I want a new laptop and spilled coffee on this one. Same diffs.
 
xrapidx said:
Tell them you want to use the money to get a better more expensive one - not the same one.
Click to expand...
A better one at the same price should be fine, after all your premiums are calculated on a value, not a specification sheet.
 
TJ99 said:
A better one at the same price should be fine, after all your premiums are calculated on a value, not a specification sheet.
Click to expand...

I mean a better one at a more expensive price... i.e. he's paying in to get a better one.
 
That's what I did when my PC was stolen, it was insured for R20k and I explained that I could source the parts for cheaper than their suppliers and I could build it myself as I did the previous one. Got Prophecy, PC Int and Rebeltech to send me quotes on parts and bam they eventually paid me the value.
 
Yeah just send them the quote you got and show them how their supplier is ripping them off.

Insurance always wants to save money.

I've had aftermarket exhausts fitted to my bike before, paid for by insurance, because it was cheaper than the stock item from Suzuki.
 
Lupus said:
That's what I did when my PC was stolen, it was insured for R20k and I explained that I could source the parts for cheaper than their suppliers and I could build it myself as I did the previous one. Got Prophecy, PC Int and Rebeltech to send me quotes on parts and bam they eventually paid me the value.
Click to expand...

That's interesting. I will speak to the insurance agent, and see whether this is an option.
 
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