Insurance claims – 1 in 5 Claims Repudiated

New statistics claim that one in five home insurance claims is repudiated (not paid) by Insurance companies. The Association of British Insurers published figures to promote transparency and understanding with consumers and the general public. This is why it is imperative that a Loss Assessor is contacted early to give you the best chance of getting a claim paid. They are experts in Insurance Claims Handling and can handle all aspects of the claim while taking away the stress and aggravation when dealing with the Insurance Company. It is therefore Ironic that this transparency drive show what we all know – Insurance companies do not like paying claims. This can only exacerbate the negative reputation that the Insurance industry has.

Online comparison sites and Insurance brokers also have a lot to live up to as a review of the statistics prove that the major causes for the refusal of claims were because they were not set up properly and cover did not exist under the policy terms. A large number of these claims would have been paid if the consumer used the services of a reputable claims management company who would be able to identify whether the claim was valid and therefore get them their full entitlement.

Policies with Fine Print

The public needs to understand a policy set up to get the right cover which includes the limitations of the insurance policy before they buy so that they are not disappointed in the event of an incident. It is so important to read the policy wording because one size does not fit all. Claims, whether insured or not, chase disruption and are upsetting creating stress. It is essential that you have the support of a professional such as a broker, who works for you to find the right product and sums insured to help you with the process. Cheapest is not always best.

If you chose to go online or insure direct over the telephone with an insurance company, if you suffer repudiation of claims by not understanding your cover or conditions this is your fault and the result will cost you a lot more money than you will have saved on a cheaper insurance premium. Don’t take a risk with your one chance in a claim to get it right – get a Loss Assessor to help you.

Top Reasons An Insurance Claim Is Rejected

Looking to Claim? Click here to read how some Insurance Companies find ways to repudiate your claim.

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