Home insurance should pay for lost, stolen or damaged items. However, sometimes a claim may be rejected. There could be a number of reasons for this. If it happens to you, understand why it was rejected and see if you can appeal it.
Home insurance (whether building, contents or comprehensive policies) is taken out to cover the financial losses if property is lost, damaged or stolen. To get compensation, you file an insurance claim to your provider.
This can prove to be a challenge for some people – your claim may be rejected.
Why? Well, there are often many reasons. That’s why we at Insurfolio have gathered a few “top tips” to help you avoid having your house insurance claim rejected.
ALWAYS read the terms and conditions
When you sign up for home insurance, it’s tempting to only skim over the terms and conditions. After all, they can be tedious. This is a big mistake: you need to read it carefully and thoroughly. Those who sign up for financial cover must be fully aware of what they are entitled to and can claim.
By skimming over the terms and conditions, you could be setting yourself up for a nasty surprise when the time comes to make an insurance claim.
Your home insurance policy: be specific
Do not lie about any details when applying for home insurance. For example, you should accurately describe whatever materials were used to build your house. The policy may also come with certain security demands, such as the mandatory fitting of a security alarm. Be sure to comply with such demands. Other safety equipment like smoke detectors should also be fitted. In addition, make sure not to leave the property empty for longer than that policy stipulates.
Although this should go without saying, keep up regular maintenance of the property. All of these little things will give your home insurance provider fewer excuses to rejected a claim.
Other home insurance claims
If you have other home insurance claims in the works, you will need to declare them. If you don’t, your insurer may refer to a database to check them out. It is best to be upfront and honest from the very beginning. If you have been refused an insurance claim in the past and are asked about it by your provider, tell the truth.
If you are switching home insurance providers, don’t lapse the cover between them. For example, you may lose something valuable like a watch but be insurance when the loss occurred. This could mean that you have very little right to claim anything.
Taking out any kind of insurance policy requires careful consideration and shouldn’t be taken lightly. When it comes to home insurance, you don’t want to be in hot water for losing valuable assets.