Understanding insurance : what is a claim?

How many types of claims are there?

A claim is a critical element of an insurance contract. It is the occurrence of one of the insured risks, where the Company must repay within limits and with the exclusions agreed in the contract. The set of damages derived from the same event constitutes a single claim.

There are many types of claims, depending on the type of insurance in question and the policy conditions. Here are some examples of claims based on the following facts:

  • In life insurance, a claim occurs when the insured person dies.
  • In-car insurance, a claim arises when the insured has an accident.
  • A declaration occurs when the insured becomes ill and needs medical assistance in health insurance.
  • In-home insurance, a claim happens when the kitchen of the insured home catches fire by accident.
  • In payment protection insurance, a claim arises when the insured person loses his job due to unfair dismissal.

When an accident occurs, it is crucial to act diligently to notify the insurance company so that it can initiate the necessary procedures and actions and thus determine the coverage and scope of your responsibility. In each policy, the process to be followed to report a claim is contemplated, which can vary considerably from one insurance to another.

Car Insurance

In-car insurance, the so-called friendly accident report, is one of the supports that can be used to notify the Company of a claim. In health insurance, it is common for a card to be used. So that the insured can easily access the most common and straightforward benefits. At the same time, authorization needs to be processed in the case of more complex interventions (claims).

Once a claim has been notified to the insurance company. It initiates a series of procedures aimed at its management: a file is opened. The appropriate checks are carried out. And an assessment of the same, in which an expert may or may not intervene, is resolved. At the time of resolution, the Company can decide if the claim is compensable and for what amount. It can add the decision to terminate the insurance contract when the term expires in some instances.

Finally, it is essential to remember that claims are isolated events and cannot be accumulated. For example, if an insured has two different accidents with his car. He must declare two claims to the Company with which he has contracted the car insurance. If his insurance of him contemplates the payment of an excess. This must be done for each claim. Although there are cases in which the quantity is accumulated.

In short, the claim is one of the most important concepts of all insurance since it is the element that gives the right to receive compensation for constituting one of the events that are included in the insurance contract.

What does funeral insurance include?

Also known as death insurance, this is one of our country’s most requested insurance products. It is usually associated with the coverage of the deceased person’s burial. Still, the truth is that it offers many other guarantees that you should know before knowing if you can change burial insurance from one company to another.

Funeral insurance offers coverage for the payment of all funeral services and the burial that a family wants to carry out after the death of a relative. In other words, in addition to the burial or cremation itself, the expenses of the funeral home, the coffin, the obituaries, the religious service, and the choice of the cemetery or the hearse are also included.

But not only that, but this Sanitas insurance also offers other guarantees that the beneficiary can enjoy in life, such as legal assistance coverage for purposes and criminal charges, emergency assistance abroad, accident coverage, and even various administrative procedures.

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