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Read Insurance Fine Print Carefully
Too often we, being only human after all, tend to 'gloss over' the
fine print and terms and conditions of policies and contracts that we might not
fully understand, unfortunately in many cases to our detriment.
Take insurance policies and practices, for instance. The 'architects' of
insurance policies are often super-clever, highly-paid folk, whose
responsibility it is to ensure that an insurance policy is beneficial to both
the insurer as well as the insured.
This means that there will always be plenty of insurance fine-print and terms
and conditions that accompany each policy which unfortunately you need to take
the time to read over and understand properly to avoid any 'nastiness' in the
future.
I say unfortunately because insurance fine-print can be a better remedy for a
sleepless night than a sleeping pill. However, by fully understanding your
insurance policies, you will be able to avoid the potential of not having a
claim paid out.
For instance, let's say you are cruising around town in your snazzy new car
wearing your snazzy new R1500 sunglasses and you pop into a shopping mall for a
bite to eat. In your haste you leave your sunglasses lying on your dashboard.
When you return an hour later after your delicious salmon bagel to discover that
your car window has been smashed and your R1500 sunglasses are missing, you will
be in for further disappointment when your insurer refuses to pay your claim.
Why, because the fine-print of your insurance policy (that you couldn't be asked
to read) clearly stated that 'Any personal property left in a motor vehicle must
not be visible to passers-by and be contained in a locked
cubby-hole/compartment'.
You admitted that you 'temptingly' left your shades on your dashboard, clearly
not locked away so your insurance company will be well within their rights not
to settle your claim and you'll have to fork out another R1500 out of your own
pocket.
Of course, when you stop kicking yourself you can settle down take a few minutes
out of your busy schedule to read the fine-print of all of your insurance
policies.
Also be aware that when taking out insurance policies, as per the insurer's
terms and conditions if you fail to disclose certain information or, even worse,
lie about certain things such as your previous accident and claims history, you
risk having all your claims rejected.
Other Articles:
Knock For Knock Under Insurance Personal Legal LiabilitySAIA Celebrates 100th Anniversary this YearThe Role of SAIA in South Africa InsuranceThe Importance of Travel Insurance5 Tips To Follow When Submitting Insurance ClaimsGood Ways to Keep your Insurance Costs Low
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| | 4/30/2010 3:36:00 PM |
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