There are instances where the insurance company will not pay out claims... Beware!
Most of us end up taking various sorts of insurance covers to ensure that we are not too badly affected in any eventuality. However when it comes to processing claims against these covers, there are some important aspects to watch out for to ensure that the process goes off smoothly. There are instances where the insurance company will not pay out claims -- mainly due to suspected fraud, non-coverage/ under coverage for the eventuality, non-payment of premiums, etc.
Truthfully discuss with the insurer
One should ensure that all the information is given correctly and honestly to the insurance company at the time of taking the insurance. For example if you smoke it is advisable to let the insurance company know before paying the premium. If one hides crucial information, the insurance cover is liable to be made null and void and any claims can be rejected. Also, ensure that you relevant documents carefully while filing your insurance claim.
Submit the claim at the correct time
Many insurance companies do not directly take claims or process any claims; they instead outsource them to dedicated third party administrators. These third parties act as the front end for the insurance company's claim process, and collect the necessary paperwork from the insured, as well as organise for the insurance surveyor to verify and value the claim. Once this is done, they pass on the paperwork along with the valuer's reports to the insurance company for payment.
Keep proof
Ensure that you keep all documentation and other evidence supporting your claim, for example if the claim is for a damaged car due to an accident, take pictures of the vehicle along with the accident scene, FIR copy, etc. It is prudent to give the insurance company (or the third part administrator) enough information to ensure that your claim is not rejected.
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