Having read numerous negative reviews I became quite worried after my Iphone 3gs 16GB was stolen.
I completed a claims form on the 20th of the month and emailed it to the claims dept with my proof of purchase and crime ref number.
I called customer services everyday to be told that my claim had been escalated to the higher claims dept and that they had an indefinite amount of time to deal with the claim. At this point I thought that all my worse fears had come true.
I didn't call on the weekend and left it till Monday morning (26th) before calling again only to be fobbed off again by the advisor and her manager. To my surprise the claims dept called me that afternoon to settle my claim!
As my iphone was discontinued, I was offered a cash settlement to purchase a refurbished Iphone 3gs 32GB from Amazon or ebay, I tried to push for an Iphone 4 as the 3GS 32GB is also discontinued, but to no avail. After reading the many horror stories about this insurer I decided to cut my losses and take the cash settlement.
My claim took a week to settle. I met all their T&C's ie notify the network and police within 24 hours and register the claim within 48 hours. Overall, I can't really complain as the cash settlement puts me in a better position that before the theft (I can buy the 32GB version) and a week is a reasonable time to complete the claim.
Also, I don't pay for the service as its a part of my banking package!