7 insurance claim FAQs
Making a claim on your insurance is the sole reason to get insurance in the first place, so it’s important to understand just how the process works, and what it involves.
Of course, every insurance provider will have a different way of dealing with claims, but we’ve put together some general answers to the most commonly asked questions about insurance claims to give you a better understanding.
How does the claims process work?
Firstly, you’ll need to notify your insurer of the situation and the details of your claim. This can be done through a variety of ways like online portals, email, or telephone. Check out the information on your insurance provider’s website for details.
You’ll likely need to provide supporting evidence for your claim, including any receipts, invoices, or other relevant documentation.
Your claim will then be assessed and its eligibility will be checked against your insurance policy. You’ll then be notified whether your claim has been approved or declined.
How long will it take for my claim to be assessed?
As we mentioned, each insurance provider will have their own process, but most aim to get your claim assessed as quickly as possible, usually within a week or two. This does depend on the situation however - for example, during the recent flooding events earlier this year, so many people were making claims at once that the insurers still haven’t been able to clear the backlog of claims.
Why do I need to pay an excess?
Excesses are designed to keep the cost of claim management down and to keep insurance premiums affordable; some people actively increase their excess to lower their insurance premiums.
When you took out your insurance, it would have been specified whether or not you need to pay an excess when making a claim, so that agreed amount will be taken out of your total claim payment. In some cases, excess can be waived but you would need to check your policy document for the specifics. You can find out more about how insurance excess works here.
What is a waiting period?
A waiting period is the amount of time before you are allowed to make a claim after signing up to an insurance policy. Waiting periods help to keep insurance coverage fair and prevent people from claiming straight away once they already know they need treatment.
Waiting periods can vary depending on your insurance provider, the level of cover you have, and the type of claim. It’s best to check your policy documents for the details of your particular cover.
What if my claim is declined?
When you make a claim, you may experience increased premium costs or lose some benefits - this all depends on the insurance provider’s process. For example, you may have been receiving what’s often referred to as a ‘no-claims bonus’ that reduces your premiums if you have made no claims in a certain time period. Once you make a claim, that bonus may no longer be applicable.
How much can I claim on my insurance policy?
How much you can claim will be different from provider to provider so it’s important to read your insurance policy documents carefully. Usually the maximum limits you can claim for each type of event, i.e. surgery or dental work, will be laid out in a schedule. It’s important to understand whether this limit is annual, or for the life of the policy.
If you’re having trouble understanding your insurance policy or you need help making a claim, we’re here to help! We’re experts at making sure you get the result you deserve, so give us a call on 0800 001 866 and we’ll get you sorted.
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