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Topic # 189052 15-Dec-2015 15:53
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Warning, what follows is an unapologetic rant about the PriceGuard insurance policy on select Visa credit cards.

I recently bought a DSLR at Noel Leemings, and negotiated what I figured was a pretty good price, getting them to price match JB Hifi.  However, it happened to be just a few days before Black Friday.  Stupid me, I should have thought of that, but that's by the by.  Noel Leemings, as part of the Black Friday sale, dropped the price on the camera by a further $80.  It wasn't a huge amount of money, but enough to make me slap my forehead.  Then I heard about the PriceGuard insurance policy on my Visa Platinum credit card.  A perusal of the policy indicated that it should be a valid claim.  So I went about the process of making a claim.  To start with, the claim form that was provided (which isn't available as an online form or even as a downloadable PDF - you have to ring and request one be sent to you) was poorly set out and contradictory in places.  It looked like it had been given to the office intern to design in their lunch break.  Not a good start.  Nevertheless, I collated all the information I had, and set it out as supplementary information to the requirements of the form, and even included a very clear description of what had happened, and why I was making the claim.  I wanted it to be as clear as possible and not leave anything open to interpretation.

I just received a phone call from the claims assessor.  She noted that I had taken a screenshot of the website showing the lower price, the date of the deal, and the website address.  She asked if there was a flyer advertising the promotion.  I said that I didn't have that, and it probably doesn't exist given it was a one-day Black Friday deal.  She said that "internet prices or internet advertising" is specifically excluded under the policy.  The only way they would honour the claim is if there was a printed advertisement of the deal.

What is the deal with this?!?  Are we stuck in the 20th century?  I could understand if the price was advertised on an overseas website or some parallel importer drastically undercutting their competitors, but to automatically exclude a claim because the mode of communication was that most radical and futuristic of devices known as "a website?"  This sounds to me like the flimsiest of excuses, and one that would likely fly under most people's radar (if they were even aware of the policy in the first place).  Advertising on websites is hardly a new or unfamiliar communication tool, and it's not beyond the realms of possibility for some businesses to advertise or conduct themselves exclusively online.  Tying the policy to the antiquated approach of pulping wood and squirting ink onto it in order to communicate prices to the public seems farcical to me.

Now, I know this is a "first world problem", and I'm not overly bothered by the "loss" of $80.  What frustrates me is the "olde worlde" thinking that underlies the policy in the first place.  And normally, if I felt "outraged" by a business practice, I would vote with my wallet.  But that's a futile gesture here - what am I going to do? Give up my Visa?  There isn't an "answer" here, and I'm not really looking for one.  I just wanted to vent and get it off my chest - that such policies are, as I always expected, a con.  While I didn't get the Visa specifically for that purpose, it bugs me that it's plugged as a benefit (albeit a low-key one) when it's got so many holes in it that it's practically useless.

/rant



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  Reply # 1450925 15-Dec-2015 16:22
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I feel for you mate. For that very reason I don't ever consider getting PriceGuard or any type of price-matching insurance of any sort.

 

Gem Visa recently released a similar product. While I am not sure what their details are, I suspect it is no easy walk in the park to get any kind of money back.

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  Reply # 1450932 15-Dec-2015 16:31
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Seems like BS. Same as the price match at bunnings which wont match instore prices at other retailers because it isnt advertised, even tho instore displays are covered by the advertising standards.




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  Reply # 1450936 15-Dec-2015 16:35
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Yeah, that is BS.

 

I'd be tempted to mock up a flyer to meet their BS requirements, and send them a "scanned" copy as proof.

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  Reply # 1450938 15-Dec-2015 16:36
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dclegg: Yeah, that is BS. I'd be tempted to mock up a flyer to meet their BS requirements, and send them a "scanned" copy as proof.


That would probably be fraud, so not a good idea.




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  Reply # 1450942 15-Dec-2015 16:38
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For $80 it's not worth it probably, but you could always ask the retailer themselves if they had a record of the sale and could provide it to you. The policy exclusion sounds clear on online advertising, but I'd doubt there's an exclusion for a printed quote/invoice or similar from the retailer.  It also depends on your obligations under the policy - can you provide retailer confirmation of the price or do you need to provide advertising?

It's fair enough to exclude online advertising - I'm not even that technically literate but I can alter the text displayed on my screen and screenshot that...



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  Reply # 1450944 15-Dec-2015 16:39
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Yeah, it's not something that would sway me to one product over another, all other things being equal (definitely not now).  The stupid thing is that as it's a "no cost" "benefit", no one's ever going to turn down the opportunity to get some money back.  I guess what gets me is the false hope these kinds of things hold out, that they make it so hard to actually put in a claim, and then make it so exclusionary as to make it almost impossible to have a successful claim.

In some sort of perverse way, though, I feel like watching out for this on any kind of significant purchase and bombarding them with so many claims that hopefully one will get through.  Or maybe I just need to find a different hobby... ;)

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  Reply # 1450945 15-Dec-2015 16:41
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richms:
dclegg: Yeah, that is BS. I'd be tempted to mock up a flyer to meet their BS requirements, and send them a "scanned" copy as proof.


That would probably be fraud, so not a good idea.


Yeah probably. Although it certainly feels morally right. I said I'd be tempted, but I'm not sure I'd actually have the gumption to do it :-)

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  Reply # 1450956 15-Dec-2015 17:01
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You could always despute it a bit more - appeals process etc etc.

 


Not necessarily in order to win - but to make them spend more than $80.00 processing your claim.

 



no idea what the T&C are but if you could get a Noel Lemmings employee to write the price as at that date on the back of a business card - that may help ...

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  Reply # 1450962 15-Dec-2015 17:12
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KrazyKid: You could always despute it a bit more - appeals process etc etc.
Not necessarily in order to win - but to make them spend more than $80.00 processing your claim.

no idea what the T&C are but if you could get a Noel Lemmings employee to write the price as at that date on the back of a business card - that may help ...



If it was me I would do it, would also be going for a full refund on all premiums paid as they are putting up unreasonable barriers on making a claim.

Hell, even if you don't win it would cost them way more than $80


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  Reply # 1451003 15-Dec-2015 18:11
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dclegg: Yeah, that is BS. I'd be tempted to mock up a flyer to meet their BS requirements, and send them a "scanned" copy as proof.


That would be Insurance Fraud, which has serious fines, not to mention the possibility of being refused "any" type of insurance forever. 

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  Reply # 1451008 15-Dec-2015 18:42
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Took me two years to give up on getting compensation on a damaged bag with Virgin. Really wasn't worth the hassle.

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