4 Aspects You Need To Double Check With Your Insurer
Author: Megan Ellis
There are certain things you will need to double check with your insurance provider to decrease the chance of your claim being rejected.
Since insurance is often a grudge purchase, one of the worst outcomes for your policy is to have your claim rejected.Often, claim denials can be due to technicalities, or fine print on your policy.
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Here are a few aspects you should double check with your insurer to have the best chance of having your claim approved:
1. Read Through The Application And The Renewals
Small details left out on your initial application can come back to bite you if you're not careful.When it comes to medical insurance, information you may have accidentally omitted (like a family member's health issues) can result in the entire cancellation of your policy during the contestability period.For any insurance, make sure you check that all your details and the information on the form are correct.When it comes to the renewal of your policies, always go through the information again to see if anything needs to be updated.It is difficult to prove that incorrect information wasn't intentionally provided. So rather be safe and go through it again.
2. Get An Exact Picture Of Your Coverage
While no one likes to read long forms, you're going to have to do this to understand exactly what your insurer is covering.For example, for car insurance, your policy provider may only cover a certain percentage of the vehicle's retail value. If you don't have 100% coverage of the value, your car has a higher chance of being written off.Having your vehicle written off unexpectedly, because repairs amount to 80% of the car's value, is a nasty surprise. So, you'll need to double check your coverage and change it if needed.The same goes for household insurance. You'll want to make sure that you are covered for a variety of situations that could result in the loss of assets.While many of us get insurance for our home contents in the case of theft, we forget to take fire or flooding into consideration as potential threats.You'll also want to keep the value estimation of your assets updated to make sure that they are covered.
3. Check Your Insurance Network
This mostly applies to medical and car insurance, but you'll want to find out the network that your insurer provides coverage for.Going to a doctor, or hospital, which is not part of your insurer's coverage network can result in thousands of rands in unexpected bills.It is not always possible to get an insurer that covers every healthcare provider. So you'll want to be acquainted with the correct providers, if your insurer has a limited network.You should also keep up-to-date with any changes in the network. Insurers do sometimes drop or add other providers.Conversely, you should always check that the places you're visiting accept your insurance plan. Some doctors' offices refuse to accept coverage from certain insurers.Car insurers also often have a particular network of approved repair and service companies which they accept. Many even have particular towing companies that need to be used.When making a claim for insurance on your car, make sure you speak to your insurer before you get anything done.Having your car repaired and then attempting to claim can often lead to rejection.Your claim will also definitely be denied if you used service providers not approved by your insurance company.
4. Make Sure You're Aware Of The Deal Breakers
Again, this is something that is probably hidden in the wall of text that makes up your policy details.There are certain factors in some policies that will automatically result in your claim being rejected.For example, some home insurers will not cover theft of property if your alarm was armed at the time and you were away from the house.Likewise, some medical procedures require pre-authorisation or the claims will be immediately rejected.When it comes to car insurance, many policy providers only cover accidents - not general wear-and-tear or vandalism. You'll want to double check and update your policy accordingly.There are, however, some deal breakers you won't be able to change - such as drunk driving resulting in an accident.