Your Rights as an Insurance Policyholder

Jul 7, 2017 by

You get insurance to get financial security, especially when you need it most, such as during accidents. But sometimes, you just can’t help but disagree with your insurance company.

The dispute may be warranted, like on times where you clearly know you deserve to be compensated. But it may also not be, like on times where you are having unrealistic expectations. The key is to know your rights, so you can determine whether your actions are warranted or not.

You have the right to be informed

Before even purchasing and agreeing to a policy, the very first thing you should have is full knowledge and understanding of its terms and conditions. You have the right to know what you are buying. After all, you are going to shell out money for it, so you deserve to know everything first in order for you to determine whether the purchase and agreement is worth it.

Having a clear understanding of the policy helps you make an informed decision on whether to pursue or not.

You have the right to get coverage

As a policyholder, you have two rights regarding coverage. First, you have the right to receive the right amount of coverage. Second, you have the right to receive this right amount in a timely manner. This means that value estimations should be precise and payments prompt.

Of course, these rights are only triggered if your case actually fits your insurance policy, and therefore truly deserves coverage.

You have the right for your case to be thoroughly investigated

Before you get coverage, your insurance company will investigate your case, to know if it truly warrants coverage. Do not think that this is a tactic to make the process stressful and for you to let go of your case, as it is merely there to help fully assess the situation and compare it to the insurance policy, so you can get the proper amount of coverage.

You have the right to question denied claims and underpayments

If your case has been denied, do not be hesitant in contacting your insurance provider and ask why. You can also bring up whether the case has been thoroughly investigated, the values properly appraised, the damages rightfully assessed, and the policy fully understood, to determine whether their decision to deny your claim is warranted.

Aside from denied claims, you can also question underpayments.

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