For all the claims made by insurance companies in their numbers, one would very easily be fooled into thinking they actually care about you. They don’t – what they care about is having you as a client so that the contributions you make as part of your premiums can be pooled together with all the other clients they have and used to generate profits. Insurers make insane profits with their clients’ money and it’s nothing but a numbers game.
With that in mind it doesn’t mean you can’t and won’t benefit from the service of taking out an insurance policy. By design, the relationship between an insurer and an insured is meant to be a mutually beneficial one, albeit one which makes clever use of financial and economic law (financial engineering) to enrich the financial institution that is the insurer.
Still, if you get your payout amidst a payout-triggering event like loss, damage or injury, that is still extremely beneficial to you, irrespective of the fact that the insurer makes so much money out of this relationship with you as one of their clients along with the many thousands of other clients they have.
The reality of the situation however is that you pretty much have to brace yourself for a fight if you’re to get your payout following the claim you’ve filed, but by no means does that mean the gloves have to come all the way off. All it means fundamentally is that you’re the one who has to take some initiative and be proactive about getting what’s due to you in the form of your payout. The insurer is not going to come looking for you to give you your money, which is why an official claims process exists – a claims process which many clients tend not to even familiarise themselves with until the time to file a claim actually comes.
This can be very dangerous because the typical insurance policy has some technicalities built into it which if not carefully scrutinised could make for a very stupid manner through which to disqualify yourself from getting your claims process payout. For example, certain policies have a set time in which a claim must be filed following the triggering incident, failure of which to honour could make for some technical grounds on which to nullify what you may very well have otherwise been entitled to.
If I’ve put the fear of God into you about your insurance policy then I apologise – that was not my intention. All I seek to do is point out that you need to make sure everything is in order to your end during the claims process, but should things not quite go according to plan and you feel as if you’re really getting the short end of the stick, legal professionals such as the likes of Rutter Mills are at hand to help you fight what could turn into a very nasty legal battle.
If you have legal grounds for some recourse then you have nothing to worry about, so it’s simply a matter of making sure you follow the correct procedure throughout the claims process.