If you have recently tried to make an insurance claim and had that claim denied, you will have had a taste of the ruthlessness of insurance companies. When you take out insurance, you will need to sign an agreement with a lot of fine print, and many do not read this fine print.
Unfortunately, this fine print can contain a lot of rules that have the potential to prevent you from making a successful claim. The following are some common loopholes held within accidental injury insurance and other types of insurance that can become problematic after an incident.
Engaging in dangerous activity
Insurance companies do not want to be liable for paying out whenever their customers engage in reckless or dangerous behavior. Therefore, they will only cover accidents that they deem to have been low-risk. This might mean that they exclude covering accidents that occurred when alcohol or drugs were involved.
Misstating your age
Insurance companies will be looking to disqualify your claim by finding any inaccuracy that they can. Even if you misstated your date of birth by one day, your insurance coverage will likely be deemed invalid as a result.
The contestable period has not passed
If there is any inaccuracy in your insurance policy application, the insurance provider has a right to cancel the coverage during the contestable period, which is usually around two years.
If you have been denied an insurance claim, it is still possible to make an appeal and get the coverage that you deserve. Insurance companies are notoriously ruthless but challenging them is often successful.