in What Circumstance Would a Property Insurance Claim be Rejected? Good, Great, or Garbage (renter, offers)
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Property insurance is a broad term that encompasses an insurance plan provided by an insurance company that offers either liability coverage or property protection.
The Top 10 Reasons For Denied Claims
When an owner or renter obtains insurance for his or her assets from an insurance company, financial compensation is provided for the owner or renter in the event of damage. Also, any third party injured on the property as a result may be qualified for financial compensation as well, depending on the insurance company’s policy.
An insurance claim is a formal request by the policyholder to an insurance company for coverage or indemnification for a covered loss if a condition meets the stipulations. After extensive investigations have been carried out, the insurance company may validate or invalidate the claim. If the latter is the case, the insurance company compensates the customer or an approved third party on behalf of the said customer.
What Should I Do If My Claim Is Denied?
By now, you should have a good understanding of what a claim is and what insurance is. Click here to read more on these. There are numerous stories about insurance companies turning people away when they file insurance claims. Here are the top reasons why asset insurance claims are rejected:
This will enable you to prove your case. If there is a default in this regard, your claim may be rejected. Coping with the challenge of damage and a rejected insurance claim can become exasperating. A study of the above reasons for rejection of claims will enlighten you and help you avoid rejection of your insurance policy claim.
Last edited by Reeceporter; 12-24-2022 at 01:02 AM..
Interesting that I had a recent auto claim where a neighboring tree (city owned) fell behind my car but did do approx $7000 in damage. I was never asked for any proof the loss actually happened and as far as I know no one ever came out to look. I just took it to their preferred auto shop and it was fixed.
Being an insurance guy (commercial, not personal lines), I sent in pictures of the damage, the downed tree in relation to the car, and then pictures of the city removing the tree just in case but I thought it very strange I was not asked for any of this. I know insurance companies are automating many processes and/or weighing the cost/benefits of just paying claims but really, that seemed a bit much to not actually investigate. Maybe someone did stop by and see everything without me knowing?
In any event, it was pretty clear the in-house "adjuster" was not an adjuster at all but a call center employee. After the first call when I reported it, I never heard from him again.
My point being, don't rely on the insurance company to document your claim, you do it and be thorough.
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