Whenever you make a claim on your insurance policy, you may be shocked to realize that insurers won’t pay or are ready to pay only a fraction. As a policyholder, it is pertinent to be in the know as to why this might happen.
Claims refusal may affect the relationship between you and your insurer. But it happens and you have to be prepared.
However, it is necessary to note that these claims can only be made within the listed rules in the insurer’s policy. So going straight to the purpose of this piece, we will be talking about some reasons why your insurer might refuse your claims;
1. Claims Made Not Included In The Policy
It is essential to conduct thorough research or consult expert insurance advisors before buying into any policy. Knowing fully well that each policy are guided by terms and conditions in fine prints.
For every policy, there are peculiarities to the coverage it provides across different insurers.
In a nutshell, understand the coverage of your policies. Else, you’ll be disappointed at the point of making claims.
2. Missing Information from your Application
There should be no compromise for full disclosure in your policy documents. It is advisable to be sincere, honest, and thorough when filling any insurance applications.
Let’s say in medical related insurance, provide the insurer with your full medical history when purchasing a policy. There are also instances when a doctor documents a medical condition but it not disclosed to the patient.
Unfortunately, this kind of activity can also lead to a claim rejection, even if the patient isn’t aware of it, so if you’re not too sure, you should ask the doctor for a copy of your medical records.
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