Once we take out the Insurance, several important issues should be taken into account. For example, we must have a copy of the policy and keep the premium payment receipts.
Also, it is important to follow the insurer’s instructions for the communication of claims, providing all kinds of information and collaboration on the facts and circumstances of the claim. In this blog, we tell you how to report an insurance claim at home, if it is of your interest.
Changes in the conditions of the policy
Also, as insured, we have the right to respect the conditions signed in the policy. Therefore, if the contract has been signed and the Insurance is in force, the insured should not accept unilateral modifications that are unfavorable to him.
In this sense, it is important to note that if the insurance company modifies the price or the coverage of the Insurance, and the policyholder does not agree, they will have 15 days from the receipt of the price change or the modification of the coverage to reject the proposal and cancel the Insurance.
Modification of the insured risks
Likewise, clients must inform the Insurance of any modification or change that alters the insured risk, such as a reform of an insured house or that we change vehicles.
In these cases, the changes must be notified to the mediator, agent, or, directly, to the insurer so that they are reflected and confirmed in our updated policy. If you do not do so or do not report the risk modification properly, we may have problems when claiming a claim.
Is it possible to cancel the insurance after signing?
It is also convenient to know that there are Insurances in which the policyholder has a period to back out and terminate the newly contracted policy.
This is the case of online insurance, in which the policyholder has a period of 14 calendar days to withdraw. Life Insurance also offers this possibility. In this case, the policyholder has 30 days from contract to think about it and terminate the contract, as long as the policy is for more than 6 months.
Changes and bonuses, better in writing
We must demand that all modifications or additions to the Insurance contract be formalized in writing because the verbal information provided by the insurer is not recorded.
Also, there are insurances, such as car insurance, which usually offer bonuses during contracting for not having claims in a certain period. It is also convenient to take into account the possible surcharges in the premium that the insurer may charge us for declaring a certain number of claims.
Enjoy the Insurance
Once we have everything under control, all that remains is to enjoy the coverage of the contracted insurance. Keep in mind that the Insurance will be in force for the time stated in the policy and that, in many cases, the contract establishes the automatic renewal of coverage.
If not wanting to extend the policy, the user can cancel the Insurance by notifying the insurance company one month in advance of the renewal date.