Insurance Agency Singapore | Commercial Insurance and Personal Insurance

As all insurance policies come with their own terms and conditions, coverage of the same insurance policies also varies depending on the insurance company.

Hence, there are certain things that you should refrain from doing if you want to avoid your insurance claims from getting rejected.

1. If you have a motor insurance policy, in case of regular wear and tear or breakdown you will not be covered. Insurers only provide cover for losses caused by the impact of natural calamities. For instance, the motor insurance policies generally cover for losses caused by natural calamities such as floods, lightning, landslide, cyclones, earthquakes, hurricanes, storms, inundation, and typhoons.

2. If your car engine stops due to waterlogging which is referred to as the hydrostatic lock of the engine, the basic motor insurance policy does not provide coverage for that. It is not covered under an insurance policy because insurers consider this as negligence on the part of the policyholder and hence, reject the claim. However, policyholders can also get this covered by opting for an engine-protect add-on cover. Generally, this type of add-on covers costs around 7-9 per cent of the base premium.

3. If you fail to provide both sets of keys of a vehicle, in case of vehicle theft, it will be taken as negligence on your part. Lack of evidence, incomplete or incorrect documentation also leads to claim rejection. Experts suggest policyholders should file an FIR in case their car is stolen or if any third party accident is involved.

4. Most property claims get rejected due to non-disclosure, misrepresentation, and fraudulent acts. Negligence on the part of the policyholder plays a big role in claims being rejected. Policyholders should familiarise themselves with their insurance policies and know the risk that is included and the excluded so that it doesn’t come as a surprise later.

By: Priyadarshini Maji

See Full Story at www.financialexpress.com

The whipping winds made a mess of several West Michigan homes on Wednesday, and the focus shifts to cleanup.

Meteorologist Christina Anthony reports with what homeowners should do after the damage is done.

An area of low pressure spinning over the Hudson Bay, more than 800 miles away from Kalamazoo, sent fierce winds through the area and toppled trees onto homes.

Crews are cleaning up after high winds hit West Michigan on Wednesday after wind gusts exceeding 50 miles-an-hour toppled a tree into a home in Hastings, and tipped this tree into a Galesburg man’s house while he was reading a book.

Brad Carpenter, the Galesburg homeowner, said, “It landed on the house. It crushed my car and, thankfully, the tree by hitting my car kept it from going farther down into the house where I was.”

Powerful gusts even uprooted an old pine tree in Sharon Wehling’s front yard in Kalamazoo and tossed it into her bedroom.

Wehling said, “The wind was really bad. I heard banging, a lot of branches and twigs falling. Then all of a sudden just a big boom.”

Wehling said she saw the tree from her living room window, and immediately called her insurance agent.

State Farm Spokesperson Angie Harrier said that’s step one.

Harrier said, “Your second step at that point would be to take photos of the damage. Document it the best way that you can. Photos are probably the best way, but making lists of inventory that is damaged, too.”

Insurance companies, like State Farm, will prioritize claims depending on the severity of damage.

Harrier encourages homeowners to save receipts for items purchased to make temporary repairs, and to keep track of the hours spent protecting their house in the meantime.

Storm damage typically falls into the category of sudden and accidental, which Harrier says is exactly what insurance is for.

By Christina Anthony

See full story at wwmt.com