Many times it can be a big mess to try to figure out what is in any type of insurance contract or policy, but there are other ways to find out if you may be in for more than you bargained for. Find out the following, some hidden lines in insurance terms and conditions?
Only pay for what you use- Don’t pay for an estimate that includes the cost of your home, car, and all claims for a set period of time, even if you use it for another period of time during that month. Many times insurance companies will charge you for repairs, then return the difference to cover your deductible. Of course, the insurance company will always claim they only cover what you use.
Don’t file a claim against the plan- Even though it is better to take care of a claim early, do not file a claim against your plan. Insurance companies will always use you as a reason to delay your claim and make you pay more money. If the company doesn’t want to pay out, it can’t.
Beware of insurance companies that charge for a free credit report- Many times the quote that you receive from an insurance company is a quote from a company that will check your credit history. If you have a bankruptcy on your credit report, many times you will get a quote that will charge you for a copy of your credit report. Don’t pay for this service, it is completely unnecessary. If you don’t want to pay for this service, you can do it yourself and save some money.
Is this policy void because of a false statement? No- Unless the policy clearly states it’s in violation of a law, it will not be void. In fact, it’s the law to give information about a law violation to a court when it happens so that they can decide if you have a case against the company.
How do I find out about my policy before I sign up? Ask for copies of any contracts that you sign, and see if there are any hidden lines in insurance terms and conditions that you should know about. If there are any, then there are clauses that are illegal and should be removed.
Have an added rider on my motor home? What are some hidden lines in insurance terms and conditions? The phrase “additional driver” covers anyone who drives your motor home while you are insured through their company.
Get a lower rate for the regular collision policy instead of the comprehensive policy- A policy that has a higher deductible is going to have a higher rate. You can sometimes negotiate the deductible down and get a lower rate. This is one of the best lines in insurance terms and conditions.
Did you know that if you have added drivers on your policy, then you will have an additional rider? If you have more than one person, it will be listed on your policy as a rider.
Finding out what are some hidden lines in insurance terms and conditions? Take a test drive! Insurance companies take these things very seriously.
Unfortunately, many people don’t take the time to figure out what the right and wrong answers are so that they can get the right answers. Get a friend to help you so that you can understand exactly what all of the words mean.
Make sure that you get a few different parts of your policy together, to the different parts get put into a spreadsheet. Look at the factors you would like covered, and look at all of the factors you would like excluded, and do your math to find out if you are paying too much.