Have you failed at revealing all relevant information at the time of application? Even if you are careful and make sure not to miss out on information chances are you can still be declined insurance claim and fall short of your insurance policy’s small print without being aware of it.
A report published in the Daily Mail has revealed that insurance customers have claims rejected for minor breaches of their insurance policy terms without them being aware and insurance experts urge all insurance customers to fully declare all relevant information and details at the time if insurance application.
The small print which refers to the terms and conditions of the insurance contract written in the minute font are leaving consumers out of a lot of money because of the technical details of the insurance cover that are being breached by the policyholder unknowingly.
According to the report published by the daily main, there have been instances when a driver had his car insurance claim denied just because he had a religious sticker on his back window. The claim was denied because the insured failed to notify the insurer of ‘a modification that they needed to be aware of rendering the policy invalid.
The complicated small print is not just limited to car loans but home insurance also has a fair share of conditions that usually cause individuals to lose their insurance payout.
Direct Line home insurance lead Katie Lomas suggests that people should consider their lifestyle and make sure they have suitable cover to satisfy all their needs. She also says that home insurance policies have a limit on a single item and the total amount of valuables a client can claim for, the customers are therefore encouraged to check if those limits are sufficient and if your policies also apply for damages sustained ‘away from home’
All clients are encouraged to fully disclose all information that they think is relevant and if they are unsure whether they should include some information or not, it is suggested that they best include it.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
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