1 reviews | Active since Jun 2016
Insurance cancelled after I declare that I am under debt review
<p>Today I phoned my insurance company - KING PRICE - to update my portfolio and include additional items to be covered. I have an active membership, paid and no issues. </p> <p>After going thru the whole process, answering all questions, I was given quotes and I accepted. HOWEVER, after I declared that I was under debt review, I was told that they will phone me back to confirm.</p> <p>They indeed phoned me back just to advise me that the "regret" to inform me, but they will no longer be able to offer me insurance. Insurance will be cancelled effective 03/07.</p> <p>I was not under debt review when I took out my insurance. Why cancel now when I have been placed under debt review, and premiums paid???</p> <p>Absolutely pathetic on the part of King Price</p>
Hi Patrick
There are many factors taken into account when taking out an insurance policy, when you took out insurance initially your profile was acceptable to our underwriting criteria however your profile has changed. We refer to the following excerpt from your terms and conditions :
''Tell us : Inform us immediately of any changes to your circumstances that may influence whether we give you cover or continue to give you cover, or that could affect the conditions of cover or the premium that we charge you.This includes any changes/incorrect details of any of your information, such as: Financial status: Anything we need to know about your financial position or that of any person covered under your policy. This specifically relates to issues like defaults, civil judgments, debt review, sequestrations, administration orders and liquidations of companies in which you have an interest.''
Unfotunately due to a change in your profile our underwriting criteria would not further allow cover hence you where given notice. We are really sorry that we can no longer insure you and hope you understand.
Should you require any further information please do not hesitate to contact.
Royal regards
The kings court
Hi Patrick
There are many factors taken into account when taking out an insurance policy, when you took out insurance initially your profile was acceptable to our underwriting criteria however your profile has changed. We refer to the following excerpt from your terms and conditions :
''Tell us : Inform us immediately of any changes to your circumstances that may influence whether we give you cover or continue to give you cover, or that could affect the conditions of cover or the premium that we charge you.This includes any changes/incorrect details of any of your information, such as: Financial status: Anything we need to know about your financial position or that of any person covered under your policy. This specifically relates to issues like defaults, civil judgments, debt review, sequestrations, administration orders and liquidations of companies in which you have an interest.''
Unfotunately due to a change in your profile our underwriting criteria would not further allow cover hence you where given notice. We are really sorry that we can no longer insure you and hope you understand.
Should you require any further information please do not hesitate to contact.
Royal regards
The kings court