Laying in bed last night I was thinking about how often we read about insurance companies not doing the right thing by their customers.
A few years ago I had a car crash which saw my vehicle totaled.
Surprise, the insurers agreed to pay $13500 on my written off Toyota Rav4. I paid $14000 plus add ons.
They also agreed to pay the residual still owing. About $4000.
So though I needed to buy another car, I had no debt hanging over my head.
Do you have any good or bad Insurance stories?
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I think the thing is with insurance is that you don’t know if you’re being duped or not until you try to make a claim
We pay for house and car insurance every year and haven’t ever claimed
Would they pay up if we ever had to?
Who knows 
They only have to come up with some obscure reason to not pay out. This leaves it up to the insured person to fight them.
Many of them are no good.
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Yes, you hear a lot of bad stories, don’t you?
We’ve gone with ones that seem to be reputable, but like I say, you don’t know until you try to claim and I could well be being duped and they wouldn’t pay out
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Insurance in the UK is very strictly controlled and regulated.
Don’t know about other countries.
Problems normally occur because the policy has been sold incorrectly, normally by a middle man (an agent, a mortgage provider, a car sales co etc) or to be frank because the insured didn’t read the policy properly or made assumptions that simply are inaccurate.
Another issue is that insurance cos DONT CHECK what you say is true when they accept the policy they only check when you claim, if you make a mistake, a lie even a white one then you can loose your entitlements under the policy.
Read you policy and don’t think you have got away with something because the co has accepted your application.
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My health insurance company at the time advised me to get a breast exam. At the time, all policies were required to pay for breast exams, so I didn’t think about checking.
When I got the bill of $500, they told me they wouldn’t cover it. They said my policy was created before the law mandated that all breast exams be covered, so they didn’t have to pay. I asked why they kept calling to tell me to get a breast exam. They said, ‘oops’.
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I will assume you changed your health insurance company after that?
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No, I personally haven’t but there are a lot of people who have and I don’t see any reason why it shouldn’t hit me if I were in the same situation. So I remain rather suspicious of them and take out as few policies as possible. In contrast to many compatriots I’m not overinsured. So far damages have always been covered by the insurance companies of those people having caused the damage including two write-offs of my cars. Luckily, they were insured. I haven’t made a single claim myself in all my life nor have I ever caused damage.
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