Insurance Agency Singapore | Commercial Insurance and Personal Insurance

  • Products
    • Commercial Insurance
      • Work Injury Compensation
      • Public Liability
      • Foreign Worker Medical
      • Foreign Worker Bond
      • Fire/Burglary Insurance
    • Personal Insurance
      • Motor Insurance
      • Travel Insurance
      • Home Insurance
      • Personal Accident
      • Domestic Maid Insurance
  • Support
  • Contact Us
  • Blog
  • About Us

5 tips to make sure your insurance claim goes through

9 November 2017 By admin Leave a Comment

“There are common pitfalls we see time and time again that result in insurance claims being repudiated, or only partially paid out because the ‘contract’ has been broken,”says Bertus Visser, chief executive of distribution at PSG Insure..

Below are five key examples to avoid…

1. The regular driver and owner of a vehicle differ on a policy

An example of where this happens is if a parent is the policyholder and a student child purchases a car that is insured under the parent’s policy. Because the vehicle was purchased by your child, there is no insurable interest, as there will be no financial loss for you if anything happens to the vehicle. If your child claims, the claim will likely be rejected.

Top tip: Clearly let your adviser know the full details of any vehicle added to a policy, so that appropriate cover can be put in place. Do not assume that simply adding a vehicle to a policy will mean that it is covered.

2.Vehicle extras weren’t specified

A case in point was when a client put in a claim for a bulbar that was stolen from his bakkie. No extras were noted in his policy and the sum insured was only sufficient to cover the bakkie itself. The claim was therefore rejected.

Top tip: Ensure that any fittings, such as bull bars and all accessories like a sound system or canopy are specified as extras, in addition to the sum insured value of your vehicle. Also keep in mind that you might need cover for mag rims on your tyres, so keep their replacement value in mind – anything you have changed or upgraded compared to the standard vehicle must be noted.

3. Security specifications weren’t discussed

All too common, this is an issue when claiming for a burglary. If your security features weren’t enabled at the time of the burglary, the claim will likely get rejected.

Top tip: Make sure you ask about any elements of your cover that are your responsibility. If you are covered for having a locked security gate, an active electric fence or burglar bars on your windows, these features need to be in place and in good working order at all times. This will keep both your property and you safe.

4. You moved but didn’t say anything to your insurer

If you move house and don’t notify your insurer of your new address, any claims at the new premises will be rejected. This might seem like an obvious change to make to your policy but we do experience clients forgetting.

Top tip: Insurers usually require that you give written notice of your new permanent, physical address before you move. This is because your new address means your risk has changed and your premium may also change.

See full story at businesstech.co.za

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Tips Tagged With: tips for insurance claim

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • Domestic Maids
  • Golf
  • Happenings
  • Health
  • Homepage
  • Industry
  • Interesting Stuff
  • Products
  • Tips
  • Uncategorized

Contact Us

  • 1 Soon Lee Street #02-43, Pioneer Center, Singapore 627605
  • Tel: 68978226
  • Fax 68978086
  • Business Hours:
  • Mon – Fri: 8am – 6pm

Our Location

At the west side of Singapore, our office sits on the second floor of the building.

1 Soon Lee Street
#02-43, Pioneer Center
Singapore 627605

Our Products

  • Fire/Burglary Insurance
  • Foreign Worker Bond
  • Foreign Worker Medical
  • Public Liability
  • Work Injury Compensation
  • Domestic Maid Insurance
  • Home Insurance
  • Motor Insurance
  • Personal Accident
  • Travel Insurance

Find Out More

We would love to hear your insurance needs. Tell us all about it by filling up our contact form.

If not, give us a call at +65 6897 8226
or email us at enquiry@credence.agency

Copyright © 2023 | Credence Agency