Poor Claims History



Poor Claims History

Although the aim of Insurance is to protect your
property its main aim is to reinstate your property to its
current condition following a catastrophe such as Fire,
Flood, Subsidence, Storm, Escape of Water etc.

If you make regular claims for small amounts you may find that your
Insurance Company decides not to offer renewal terms and
other Insurers may then refuse to insure you.

Making a claim can also affect your no claims discount and therefore the cost of your insurance policywill increase.

Before making a claim first check:-

Could the damage be the result of a maintenance issue, if there is a chance it could
be then you may not be able to claim

That your policy covers you for the loss or damage

    Your policy excess – this is the amount you will have to pay towards the cost of the
    claim


    Decide whether or not it is cost effective to make a claim – for instance if the cost
    of the damage is approx £300 and your excess is £250, you will only be paid
    £50.  In such a case it would probably be
    prudent to pay for the damage or loss in full yourself, that way you will not
    lose your no claims discount at renewal.

Once you have been refused renewal terms you have to declare it to any future insurer along with your claims history as it is classed as a material fact and may have an influence on whether or not Insurance Companies chooses to insure you.



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