The owner of a service station seeking a $69,000 theft payout has lost a claim dispute with Suncorp.

In an overnight break-in last year, crooks took computers that operated petrol pumps, worth almost $24,000; cameras valued at almost $15,000; stock including cigarettes worth $18,500; a $2700 computer; and $9045 cash.

Suncorp offered a $24,500 settlement, comprising the policy limit for theft of $20,000, plus a $5000 limit for theft of cash and minus a $500 excess.  

Later, the insurer offered an additional $3345 for the stolen cash and covered portable valuables to the policy limit of $15,000, plus $1000 compensation for non-financial loss.

That brought the total to $43,845, and Suncorp offered to consider other claims for business interruption, replacement costs for a damaged safe and building repairs.

The Australian Financial Complaints Authority says the settlement is in line with the policy limits.

“There is no suggestion the complainant or its broker wanted or sought a higher level of cover for any of these limits,” the dispute ruling says.  

“The insurer is not required to offer more than it has done. It has also fairly agreed to consider other losses, subject to the complainant providing evidence. The complainant has not shown it is entitled to a higher settlement under the terms of the policy.”

See the ruling here.

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