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Is there an insurance company that will not pay out if i claim?
Wiki User
∙ 12y ago
An insurance contract is an agreement between the insurer and the insured. By its terms, in return for the payment of a premium by the insured, the insurer agrees to pay on behalf of the insured, certain damages for which the injured may be legally liable. The insurer may have other obligations, too, such as to provide a defense (hire a lawyer and pay related expenses) on behalf of the insured.
It is important to understand that both the insurer's and the insured's obligations are specified in the policy. Therefore, if there is an occurrence that falls outside of the undertakings of the contract, the policy will not provide coverage. An example of this is that an auto insurance policy does not provide coverage for damage to furniture caused by a house fire.
Likewise, if the insured has not paid premiums as agreed and the policy lapsed before a covered occurrence happened, the insurer may properly deny coverage because the policy was not in force at the time of the occurrence.
There are other circumstances under which an insurer may be within its rights not to pay. Just what those circumstances are depend upon the kind of insurance involved and the facts of the dispute.
Wiki User
∙ 12y ago
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What effect does a claim has on insurance company?
A claim is a liability on part of the insurance company. If a customer makes a claim it means that the insurance company has to pay the customer for the amount is eligible to claim and hence it is a expenditure on the balance sheets of the insurance company.
Can you sue at fault driver in California who has insurance if his insurance company refuses to pay your claim for medical expenses or do you have to sue his insurance company?
yes. you can sue an at fault driver if his insurance company refuses to pay your claim. it would not be proper to sue the insurance company.
If my insurance company deducts my deductible from a homeowners claim do i still pay the deductible?
Yes. The insurance company will pay their portion of the claim which does not include the deductible because that is your portion .
If im speeding and have an accident will my insurance company pay?
Yes, the insurance company will pay, but they might drop you when they finish processing the claim.
Can I be sued for a bad faith insurance claim?
Usually in a bad faith insurance claim the insurance company is in the wrong. A bad faith claim is when an insurance company fails to pay out what was promised on the claim. More than likely you could sue the insurance company and have a chance at winning your case.
How long does it take for auto insurance copanies to pay loss wage claim?
how long does it take for an insurance company to pay a loss wage claim
Can a claim against your homeowners be cancelled after it has been reported?
Generally, a claim can be cancelled. If you do not want the insurance to pay a claim, the company will be glad not to pay it.
Will secondary insurance pay claim if primary insurance is provided by the same insurance company?
yes, they will treat it as if the primary was a different company. You pay two premiums. If they do not, contact the DOI.
What is claim In adjudication?
Claims adjudication is generally a term found in insurance. It is the process in which the insurance company decides whether or not to pay out on the claim.
Where does insurance claims money come from?
When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.
Can a claim be made against a person's insurance without their permission?
Anytime you make a claim with your own insurance company against someone else's company or their company directly, the company taking the claim by law has to fully verify and investigate the claim being made. Not only that, no insurance company in their right mind would pay out insurance claims without checking them out first.
What does 'a medical deductible' mean?
That is insurance terminology. It is a portion of a covered claim that the insurance company will not pay and that you have to pay to the doctor or hospital yourself.
