The damage was covered by insurance policy. However, Mark was unable to pay Mark’s the policy excess of $2,000 because he was in financial difficulty. He had recently lost his job and was living off Centrelink benefits. The insurer denied claim because Mark’s he could not pay the excess. Mark spoke to a financial counsellor, who called the insurer and was given the same response as Mark was given. The financial counsellor advised Mark to lodge a dispute with FOS, which he did. FOS concluded that because the damage was covered by insurance policy, the Mark’s insurer should have approved claim, even though Mark could not pay the excess. Mark’s However, Mark was still obliged to pay the excess. The insurer agreed to pay out the claim to repair the two cars, and Mark agreed to pay the excess back to the insurer in instalments of $100 a month. Useful information Are there time limits? There are time limits for lodging a dispute with FOS. In most cases, you have two years to lodge a dispute with us from the date of the financial services provider’s final response to your complaint with them. If you have not contacted your financial services area, you must provider’s complaints lodge your dispute with FOS within six years of the date you became aware of the loss you suffered. We may still consider a dispute lodged after either of these time limits if we believe exceptional circumstances apply. What if we help with your dispute? can’t If we manage your dispute, we can often suggest other organisations that may be can’t able to help. You can call the Australian Securities and Investment Commission hotline on 1300 300 630 or for advice on who else you can ask for help. Will you need help lodging your dispute? Our service is free to consumers and you do not need to pay someone to help you lodge a dispute with FOS. If you think you may need help, you might qualify for free legal aid or financial counselling assistance. or for more information. If English is not your first language, information on the FOS website is available in a range of languages. We can also arrange access to a free interpreter service.
The damage was covered by Mark’s insurance policy. However, Mark was unable to pay the policy excess of $2,000 because he was in financial difficulty. He had recently lost his job and was living off Centrelink benefits. The insurer denied Mark’s claim because he could not pay the excess. Mark spoke to a financial counsellor, who called the insurer and was given the same response as Mark was given. The financial counsellor advised Mark to lodge a dispute with FOS, which he did. FOS concluded that because the damage was covered by Mark’s insurance policy, the insurer should have approved Mark’s claim, even though Mark could not pay the excess. However, Mark was still obliged to pay the excess. The insurer agreed to pay out the claim to repair the two cars, and Mark agreed to pay the excess back to the insurer in instalments of $100 a month. Useful information Are there time limits? There are time limits for lodging a dispute with FOS. In most cases, you have two years to lodge a dispute with us from the date of the financial services provider’s final response to your complaint with them. If you have not contacted your financial services provider’s complaints area, you must lodge your dispute with FOS within six years of the date you became aware of the loss you suffered. We may still consider a dispute lodged after either of these time limits if we believe exceptional circumstances apply. What if we can’t help with your dispute? If we can’t manage your dispute, we can often suggest other organisations that may be able to help. You can call the Australian Securities and Investment Commission hotline on 1300 300 630 or for advice on who else you can ask for help. Will you need help lodging your dispute? Our service is free to consumers and you do not need to pay someone to help you lodge a dispute with FOS. If you think you may need help, you might qualify for free legal aid or financial counselling assistance. or for more information. If English is not your first language, information on the FOS website is available in a range of languages. We can also arrange access to a free interpreter service.
guide-to-insurance-excesses-brochure-word-format.docx