WIBU to refuse this offer from insurance company?

[pupsiecola]

Our lovely wooden bed was a present from all the guests at our wedding 12 years ago. It's broken. They sent a company out to assess it. They decided it's not worth fixing (upsetting, but fine).

This third party company called to say "go to this URL and tell us if you like the bed we think is a reasonable replacement". I do this. The bed is 700 quid. Our was 1400 (not including the mattress). I say no, I don't like it. He says "you've not even read the spec". His point was it's the same size and colour. My point was it's not the same quality. So I declined it.

After several calls from me and diddly squat contact from them they have offered us 800. Minus the 150 excess.

I don't want to accept it. I don't think it's fair. We have never claimed for contents before (apart from a lightening strike 10 years ago with a different insurer). So I don't know if they are just holding out in the hope we will accept, or whether we are within our rights to turn this down too and hope to get closer to the 1400. Anyone with experience of these things got any advice please?

Finally, once this is over I will be ditching them. Any recommendations for companies who are actually there when you need them?!

TIA

If it's not too rude a question how did it break?

Insurance policies don't usually pay out at all for 'wear and tear' so if this was a contributary factor to it breaking then it's possible their offer is fair.

Unless they have a new for old policy, they will be looking to put you in the position you would have been in had the bed not broken, which would have been the owner of a twelve year old bed.

Whoops - posted too soon!
So I would expect them to provide you with a bed which would have been a similar quality to your existing one only with twelve years worth of wear on it.

We moved house around a year ago. I think the guy who put the bed together didn't quite fit it together properly and over time the side panel sheared off from the headboard. I wish it was something more exciting!!

I was thinking the same DoJo but most household insurance policies do have new for old but i think they would take other factors into account.

Unless new for old policy, 800 seems fair

Which insurance company are you with? You can look up most t&c's online. If you let me know i'll try and have a look but have both DD's with me today so there might be some delay!

Should add i work in insurance but commercial not personal

It is a new for old policy. He is saying inflation is irrelevant. They are saying if it looks the same and is the same size quality isn't even that expensive. DH has taken over talking to them. He's going to explode shortly...

You've had 12 years of wear out of the bed. I'd be biting their hand off TBH.

Thanks apocalypse. It is Bradford and Bingley underwritten by Legal and General. The third party company is Renew.

If it is new for old then I would expect either an identical replacement or the cost of the bed when you bought it 12 years ago (adding inflation may be pushing it a bit?)

I am a nice person though, and not an insurance company!

You really need to be clear on the spec of the original bed, to compare that with what is the available equivalent today. If you reject the offer then you need to demonstrate (using the original bed spec, not price) what you think the current equivalent is. Your bed might have cost £1400 12 yrs ago but the current equivalent might not. It's 'new for old' not a refund on the original price, plus inflation, 12 years ago. That's how the insurer will view this. Do you still have the receipt? Can you trace the spec from either the internet or the original company who sold it?

It's a French make - solid cherry wood. My point to them is also that I would rather have a different make/colour but the same quality rather than the same colour but half the quality.

I don't have the receipt. I called John Lewis but they don't go back that far. With some digging I could probably get proof of quality etc.

Thanks Tension

Ok - had a very quick look and they shouldn't take anything off for wear and tear according to the t&c's. However what Tension says is correct and you need to be able to demonstrate what they are offering you is not the same spec. It could be beds of that spec are cheaper to buy now (though that tends to be the case more for electrical items eg tv's are very cheap now compared with 10 years ago) in which case £800 is fair.
But if this is not the case yes, they should replace with a new bed of the same quality.

Do you know the make and 'model' of bed? Try googling it....a lot of specs and mnfrs instructions are online now so you could strike lucky.

And you're right in that it's the quality that's important not colour, etc

Sorry if any of that's garbled. Typing with ;baby on knee!

Take the money and get your bed repaired!
If it really is well made, it should be possible to get it professionally fixed.

I read it as they're not offering money Sallying but rather a replacement worth £800 (which they are within their rights to do).

apocalypse thank you so much for that. Much appreciated.

The insurers would be happy to pay for a repair if it cost no more than a replacement, and the OP can keep her lovely bed.
A well-made wooden frame should be capable of repair - by a professional, not a bodger.

Just to add that regardless of what the insurer says, it's worth getting a professional to assess it.

Yes, get a furniture maker in, or take some photo's and show them and ask if it can be repaired and how much it will cost.

Not necessarily Sallying. In most (not all) cases that would make the insurer responsible for any deficiencies in the work. Where the cost of repair and the cost of replacement are negligible insurers would rather pay a bit more for a new item. It closes the claim quicker and means there is no chance of further dispute down the line re: quality of repair work, etc.