Claim - Insurance Software development

Major Coverage types applicable to Personal lines of business

Author - Webner
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4:49 am
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Introduction:

Any insurance that protects individuals from financial loss brought on by a person’s death, an injury, or the loss of their property is referred to as personal lines insurance. The majority of this insurance coverage is focused on protecting clients and their families from losses they are typically unable to personally cover. Being able to drive a car and own a home while avoiding financial disaster is made possible by personal lines insurance.

How personal lines insurance works:

Personal lines insurance includes any kind of insurance a person buys to protect themselves, their families […]

Homeowners Insurance and its Exclusions

Author - Webner
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4:43 am
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Homeowners insurance is a type of property insurance that protects a person’s home, furniture, and other belongings from losses and damage. Additionally covered by homeowner insurance is liability protection against accidents that may occur on the land or inside the home. However, Flooding, earthquakes, termites, and mold are just a few of the exclusions that aren’t covered by most home insurance policies. Homeowners insurance doesn’t protect your property from everything. However, there are other coverage choices you may include in your policy to further enhance your protection, such as flood insurance and water backup coverage.

Some […]

Some common reasons for Motor Insurance Claim Rejection

Author - Webner
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4:12 am
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There are some common reasons due to which Motor Insurance Claim can be declined by the insurance company. So an Insured should take care of these things.

Driving Licence Not present at the accident time.
The vehicle is driven by another person at the accident time.
The driving Licence is expired at the accident time.
Drive the vehicle after consuming alcohol.
Negligent Driving or Behaviour (like parking at the wrong place, the driver leaving the key in the vehicle, driving on the damaged or flooded road)
Using the personal vehicle for commercial use
Modify vehicle without informing the insurance company […]

Claim history and its impact

Author - Webner
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4:27 am
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What is a Claim

The state of insurance when the insured (who bought insurance plan) asks the carrier (Insurance company) for money (in case of a covered loss) in lieu of the premium, which the insured pays according to the cycle they choose themselves (it can be monthly, quarterly or annually) is referred to as claim.
Or
An insurance claim is a type of formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim accordingly. If Claim approved, the insurance […]

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