As our thoughts turn to the coming holiday season, it’s a good time to make sure that all your insurance details are up to date, especially if you are planning to go away. The last thing you want is to return from a relaxing holiday to find that there is an event for which you need to claim, yet you are unable to because you didn’t update your policy schedule.
We all find this kind of admin to be tiresome, but there are some solid reasons why it’s always in your best interests to make sure that all the details on your insurance policy schedule are correct.
Simpler, faster claiming
Providing the most comprehensive, accurate details you can makes it easier to claim. For a start, you won’t have to dig out the information you need to provide in order to be paid out.
This particularly applies if you have individual higher value items, like watches or technology devices. Of course you’ll have to provide this information if you name these as specified items in your contents insurance schedule, but even if you don’t it’s still vital to be able to prove exactly what you owned.
Reduce the risk of claims rejection
One of the most common reasons for claims being rejected is that the actual circumstances or surroundings don’t match the details provided.
Unfortunately it appears that some people deliberately omit information or are less than accurate when supplying details for their insurance policies. For example, while their house may be alarmed, it may not be linked to an armed response company, yet they tick the box that says it is.
While many people find this a tempting option, since they don’t feel there is much risk of an actual break-in, and they are trying to lower their premiums, the additional risk they run is that their claim will be rejected on the basis that they did not supply correct and truthful information.
Keep your details up to date
This is why it’s so important to make sure that you constantly update your policy schedule with the most current information. If your circumstances change and they no longer match the description on your policy schedule, your claim could be rejected. Get into the habit of updating your insurance policy at least once a year. That way you won’t end up facing an unpleasant new reality – and you can go on holiday with complete peace of mind.
Remember with Infiniti Online you have access to your personal and business insurances 24/7/365 so you can update your policy online – anytime, anywhere, from any device.