After you have insured your vehicle, home and possessions, there are still things you need to remember about your insurance. It is
important to read your insurance policy in detail, since not doing so could lead to some unwanted surprises when you submit a claim. Here
are a few of the main insurance pitfalls to be aware of.
Adhere to time limits - All insurance companies have their own particular time frames in which a claim has to be submitted. You
should supply your insurance company with the full details of the incident involved. Within 48 hours, you have to report anything that is
lost or stolen to the police. Any document, such as proof of payment for example, that you receive in connection with a claim, must be
submitted within 30 days. All information and documentation required by the insurance company in connection with your claim must be given
them within the 30 of reporting the incident.
Complying with your obligations to your insurance company - Certain obligations, that every client has, need to be fulfilled and
if they are not it could lead to the policy being cancelled. These obligations include insuring that you provide your insurance company with
truthful and complete information; that you take care and the necessary precautions in order to prevent loss, damage or liability; that you
agree to comply with all of their reasonable requests. You are obliged, in other words, to be responsible with your car, home and possessions.
Reading the fine print - There are certain conditions under which your insurance company will not pay a claim and it is important
that you make sure you know what these are so you can avoid them.
It is also important that you never admit any fault, or make any offer of settlement to a third party without the written agreement of
your insurance company. Your insurer is there to assist and protect you in the event of an incident, and to make sure that the claims
process proceeds correctly, both legally and financially. If you go ahead without involving your insurance company, you could find yourself
paying for repairs, medical bills, etc. that you were not actually liable for in the first place. Your insurance company cannot help you to
reverse the process in such a case.
|
