Home Insurance?

If your insurance runs say from 1st November 07 to 1st November 08 and if you make a claim in January 07, and then make another claim on 26th November 07. Does this mean that this is counted as 2 claims differernt years or is this claims counted the same year?

Hi, you have had one claim during the insurance year 1/11/06 to 31/10/07 (the one in Jan 07) and then another claim during the insurance year 1/11/07 to 31/10/08 (the one in Nov 07). For claims, it is the "insurance year" that is counted, not the "calendar" year. While both claims happened during the same calendar year, they both happened during different insurance periods so it would be two claims, different insurance years! Take care.

Have you got your example straight? Why would you make a claim in January '07 if your policy did not start until November '07??
But if you're trying to determine if 2 claims are counted within the same year or not, I believe it is the "policy year" not the calendar year that matters.
The language in your policy shoud be VERY specific on this matter. Check the definitions page.

I have seen policies that have a plan year for renewal however; hold the integrity of a calendar year for deductible accumulation purposes. Each policy will vary depending on the state it was writen and its risk class.

You will need to check your policy paper work to see if your deductible and/or plan year is on the same financial arranagement.

The claims would count under the policy but show that they were processed in different terms of the policy. Each time your policy renews, you move to a different term in the policy.

As you say - "2 claims differernt years" as the first claim is prior to the current yeat of cover. Cover runs for a 12 month period and relates to incidents 01 November 2007 to 31 October 2008.

Under the circumstances you have had one claim under the polciy for the period 1.11.06 - 1.11.07 and one claim under the policy for the period 1.11.07 - 1.11.08.

The only possibility of ambiguity is if the claim occurs on 1st November itself. Traditionally property policies expired at 4.00pm, however a different time may be on the schedule.