Believe it, or not, deliberate deceptions can be found left and right, and the realm of insurance is no exception. You not only have to look out for crooked insurance companies, but crooked agents who work for a perfectly reputable insurance provider.
If you’re currently in the market to purchase an insurance policy, please be aware of the following insurance scams; they are the most prevalent and the most destructive!
1. “Hi! I need to file a claim! … Hello? Is anyone there?”
Beware: When you stumble across an affordable insurance company, with exciting low rates that beat out everyone else in town, it kind of feels like winning the lottery. Unfortunately, sometimes, things are not as good as they look.
If you think it’s too good to be true, it probably is, and you might be dealing with an insurance company that only exists to take your premiums and then vanishes as soon as you call to file a claim!
Be Smart: Don’t sign anything until you’ve thoroughly checked out your prospective insurance company. Legally, they do not have the right to revoke a quote if you tell them you need time to check out their credentials. If they tell you there’s a time-limit, run!
2. “Well… he seemed like a nice agent…”
Beware: Unscrupulous insurance agents exist within certified, reputable insurance companies, so even if you’ve already vetted the company, you still need to watch your back with the agent you’re working with.
What these agents do is pocket the premiums that you pay and never actually file any documentation on your behalf. Then, when you go to file a claim, the insurance company informs you that your policy was cancelled long ago due to non-payment, and the agent is long gone.
Be Smart: Be sure to make all checks payable to the actual insurance company and make sure that you receive a physical copy of all insurance materials associated with your contract. You should receive these by mail within just a week or so.
Obviously, the best way to ensure you aren’t a victim is to only deal with a reputable insurance provider. Suncorp is one of Australias leading & most trusted insurance providers. You can click here to visit their site directly for more information on how to choose the right policy for you & your family.
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