Warning to Australian owners insured with Lumley

[Kevin H]

Just thought I would mention something a bit shonky that I noticed Lumley Insurance have done with the policy for my Bristol 411.

It has an agreed value of $50,000 and has done for many years. After I renew the policy the new receipted policy document arrives in the post, but I don't pay much attention to it because it never really changes.

I finally got around to doing some filing and I had a quick flick through it before putting it away and I noticed that while the premium had increased by about 15%, but the agreed value had been reduced to $25,000.

I remember paying for the renewal over the phone and no mention was made at the time of a reduction in the value of the vehicle, so if I hadn't noticed it they would have got away with it!

I'm waiting for them to call me back with an explanation.