Can someone help me please? Insurance Question!

[nlz2468]

What does it mean when insurance say.... "If you pay monthly and make a claim you will be asked to pay the premium for the minimum term (12 months) in advance before we can authorise any claim"

I am a little confused?

I am thinking of purchasing a Ipad 2 for my OH as a christmas gift but want to take insurance out obviously but when reading the T&C's i am abit confused on this one.

I am not bothered if i pay monthly (£4.88) or yearly for the insurance (£58.68) cover.

Does it mean if i do decide to pay monthly and do make a claim I have to pay the remaining yearly cover e.g. if ive been paying it monthly for 3 months say and then it gets faulty and have to make a claim after 3 months do i pay the remaining fee for that year so like £4.88 (monthly charge) x 3 months = £14.64 and then they take that off the yearly fee £58.68-£14.54 = £43.14 i would pay that for an example?

Please someone explain x

 

[tina_h75]

thats how it sounds but I have never known an insurance company making you pay the year in full before they settle a claim. What usually happens is if you make a claim part way through a policy, you then can't cancel the policy until it has been paid off. If for example you had an item, it became damaged and the insurance company repaired/replaced it - you would have to finish paying for the policy in full even if you no longer had the item that was on cover.

 

[nlz2468]

Thanks hun, It sounds strange and has got me confused so ill give them a call and get then to explain it to me x

 

[Arcanegirl]

If it became faulty within 6 months (or even the year) surely theres a warranty with whoever you purchase from where they would repair or replace anyways?

 

[suzib76]

i would just pay it monthly
all that means is you have to pay the full year regardless of what happens during that year, you cant buy a years insurance on a pay monthly basis and then end up only paying for 3/4 months worth

 

[gills8752]

Everything comes with a standard 1 year warranty from the manufacturer aso for the first year you don't need to pay insurance unless you want it insured for loss of damage, it'll already be covered fr faults.
your house insurance will cover loss/damage so there isnt really a need for seperate insurance unless you really want it. But yeas you've got the right idea, ring them to confirm it though aas it sounds rather astrange to me!