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Hi All

 

I had a leak in my flat which damaged the floor and carpet, so I had to move out for 2 months whilst they took the floor and plaster out. I got a call from the Housing Association giving me a moving in date I contacted my insurance they passed me on to renew carpets and they could only time they could visit was 2 weeks later to give a quote, problem was I had to move back in the day after they were coming.

I called my insurance and explained I have to have it fitted before I move in the advised it was ok it will be a cash settlement, I requested an email confirming this. It cost £1850 for all the floor covering from a small local carpet shop the flooring was about £14 m2.

I recieved a call from the insurance company saying that they were going to send me a cheque for £760 as my excess was £350. I advised them to hold the cheque as I wanted a breakdown of the costs. The quote sent was for a price £7.54 m2 and at the end of the quote they have two prices retail price total £1630 and scheme discounted price £1110. The carpet was fitted me when I first moved in as a moving in gift unfortunatly that person is no longer with us and I have no way of knowing which company fitted it but it was a really nice twist patter carpet I cant find it anywhere.

The HA have agreed to pay the insurance excess but I still dont have £700.

How can the flooring quote have a retail price £1630 and a scheme discounted price £1110 which is 32% different and on the discount price it shows discount of 10%

What can I do?

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Are you sure that the Insurers have not obtained a discounted price from your local carpet shop ?

 

The Insurers would normally settle based on the cheapest estimate they were provided with. Insurers can normally negotiate discounts with most carpet outlets. The Insurers would have to settle at a value that allows for the same quality flooring to be fitted.

 

I think if you have been quoted £14 M.Sq, that is a pretty expensive carpet. That would indicate a pretty heavyweight quality carpet.

 

You need to know what carpet/flooring was down originally and see what breakdown the Insurers can provide for their settlement figure.


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Insurers will often use carpet specialists who can tell the quality and therefore cost from a sample, ask the insurer if this has been done and to double check the findings.

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Insurance companies usually have deals with sellers as they will need large volumes of items so they negotiate a cheaper rate. If you ask for a cash settlement then they are allowed to pay you the rate they could of bought it for.

 

Source;

Chartered Insurance Institute

 

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Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here,my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

 

By using my advice in any form, you agreed to waive all rights to hold myself or any persons representing myself of any liability.

 

 

" No one can make you feel inferior without your consent " - Eleanor Roosevelt


Please note that this advice is given informally, without liability and without prejudiceicon. Always seek the advice of an insured qualified professional.

All my legal and nonlegal knowledge comes from either here,my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

" No one can make you feel inferior without your consent " - Eleanor Roosevelt

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