The Balance / Alison Czinkota If your insurance company says that it is going to cancel your policy, you still have options to stop that from happening. The best thing you can do is to act quickly. Once an insurance company lets you know that it is going to cancel your policy, you have a short amount of time to get things back on track. Here's what you need to know to protect yourself from having your policy canceled. Why Would Your Home Policy Get Cancelled? Insurance companies are businesses, and very often people think that insurance will always be there. However, if you don't meet the conditions set forth in your policy, the company could cancel your contract. Insurers deal in...
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Switching your car insurance is fairly straightforward, and you can do it at any time, including mid policy, not just when your insurance is up for renewal. Even if you've paid for your car insurance on an annual basis, you can get a prorated refund from your old insurance company when you cancel coverage midyear. However, you may have to pay a small cancellation fee, depending on your current insurance company's policy. How to switch your car insurance Switching your car insurance is a fairly straightforward process, but you have to take the steps in the right order: 1. Shop around for a better rate The first step to switching car insurance companies is shopping around for a new company....
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If your insurance company says that it is going to cancel your policy, you still have options to stop that from happening. The best thing you can do is to act quickly. Once an insurance company lets you know that it is going to cancel your policy, you have a short amount of time to get things back on track. Here's what you need to know to protect yourself from having your policy canceled. Why Would Your Home Policy Get Cancelled? Insurance companies are businesses, and very often people think that insurance will always be there. However, if you don't meet the conditions set forth in your policy, the company could cancel your contract. Insurers deal in risks, and being able to...
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What to think about before accepting an offer from another insurer If you've been injured or suffered trauma as a result of your accident you may be feeling vulnerable. If the other person's insurer contacts you to try and settle the claim, it may be tempting to accept an offer to avoid any more stress or delay. However, this may not be in your best interests. Before you decide to accept an offer, think about the following things: you don't have to accept any offer that's made to you. If you do accept an offer it might be lower than the compensation you would have got if you'd used a solicitor or gone to court instead don't feel under any pressure to make a decision quickly. You have up to...
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What makes a good leader? For Chris, it’s curiosity, humility and the ability to listen, supported by decisiveness and an abundance of energy. You don’t learn these traits in business school. You learn them from life experiences, or if you are lucky, from role models. His mother, a teacher, had incredible stoicism, a solid set of values and a strong work ethic which she passed on to him. Born in Jerusalem, she had lived in Kenya before she met Chris’s father. The exposure to contrasting cultures and social structures made her unusually grounded and instilled in her a zest for life which Chris has inherited. That realistic outlook hasn’t blunted his ability to envision a better future,...
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If you lodge a claim with your insurance company and it’s rejected, does this mean the end of the road? Not always. Here’s our handy guide for the next steps you can take. 1. Do your research. While it may seem obvious, make sure that what you’re claiming for is covered in your policy document. For example, if your house was burgled but your alarm wasn’t on at the time, your household contents insurance claim may not be valid. 2. Contact your insurance company. If you still feel that your claim was unfairly rejected, contact your insurance company and tell them you’re unhappy. All insurance companies are required by law to have a formal complaints process, so following this process will get...
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Surrogacy insurance coverage is a complicated subject. Before surrogacy was a possibility, insurance policies would cover all pregnancies — but, when surrogacy started to become more popular, the rules began to change. Today, there’s no set rule when it comes to surrogacy insurance and whether an insurance company has to cover a surrogate pregnancy. The policies vary from company to company, and it’s important that, whether you’re an intended parent or prospective surrogate, you completely understand what is and is not covered before moving forward. Usually, the issue of insurance for surrogacy is handled during the legal contract stage of your surrogacy process. Your surrogacy professional...
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Knowing how to make a claim is like knowing how to change a tyre – you know it can be done but aren’t quite sure how until you’re forced to deal with it. The claims process can be confusing; full of different facts, figures and stories. So here at Admiral, we like to make sure our customers have all the knowledge they need around making a claim to help make life a little easier.. Every incident is different, but there are loads of myths around the claims procedure we would like to debunk. Here are eight of the most common myths set straight. “It wasn't my fault so I won't have to pay my excess, but if it is my fault, I do.” Your excess is something you never really think about until the day...
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There can be a number of reasons why your vehicle has been denied by insurance companies. Here we provide the possible explanations as to why you’ve been denied and how you could fix the issue. Unusual car not on Thatcham database The Thatcham database was established in 1969 and was established as a means to reduce the cost of motor insurance and maintaining safety standards. They’re the UK’s only ‘not for profit’ insurer funded research centre and are in contact with law enforcement organisations, automotive bodies, regulators and vehicle manufacturers. If your vehicle does not appear on their database, be it because you have modified it or its an import you may find it tricky to get a...
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Hundreds, possibly thousands, of small businesses operating mainly in the hospitality sector should get at least some financial relief from their insurance companies. This comes after the intervention of two regulatory bodies, the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA). Under the agreement announced on Friday, small business claimants will get an interim once-off payment in an effort to help them remain solvent while disputes between the insurance companies and their policyholders over lockdown-related business claims drag slowly through the courts. Interim payments from insurers are not refundable Crucially, these interim payments are non-refundable....
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