Insurance Claim Guide
Some key aspects of making an insurance claim. Here's a breakdown of the important points:
Indemnity Principle: The core principle is that insurance aims to put you back in the same financial position you were in before the loss, neither better nor worse.
Methods of Indemnity:
Repair: The insurer fixes the damage.
Cash Settlement: You receive money to cover the repair costs.
Total Loss: The insurer declares the vehicle a total loss and pays you its value.
Importance of Reading the Contract:
Understand Your Coverage: Be aware of any limitations or exclusions in your policy.
Hidden Clauses: Be prepared for unexpected clauses that could impact your claim. (e.g., windscreen repair restrictions)
Choice of Repairer: You have the right to choose your own repairer, but insurers may try to influence your decision.
Third-Party Claims: If the accident wasn't your fault, you have stronger rights and protections.
Key Takeaways:
- Thoroughly review your insurance policy before making a claim.
- Understand your rights and options.
- Be aware of potential limitations and exclusions.
- If the accident wasn't your fault, you have stronger rights.
Disclaimer: This information is for general guidance only and does not constitute legal or financial advice. Always consult with a qualified insurance professional or legal expert for specific questions and situations.
