It is not frequent, but there are some reasons why you can be terminated by insurance . It is a good idea to keep them in mind so that you do not have conflicts with your insurer and take a surprise.
As we already anticipated, it is not usual for us to rescind an insurance, but it can happen. Above all, if the insured performs certain actions that are considered serious by the company.
Do not pay the bills on time
Generally, the insurance company gives a margin for the insured to pay the bills. Beware, keep in mind that a rejected receipt can generate large surcharges . It is recommended that you keep this in mind, especially for your domestic economy.
If you have significant delays in the payments of your receipts or do not pay them, you should keep in mind two things:
- It may happen that the insurance company decides to leave you without protection during those days until you pay the amount.
- It can also happen that if the delays are serious and frequent the company decides to rescind the insurance. It would be on your right so keep an eye on this.
This is something very serious and affects all insured because the frauds that are not detected are paid by all the users of the company. If, for lack of money or, for whatever reason, you decide to commit fraud with your insurance and they hunt you, rest assured that it will be a compelling reason to have your contract terminated . Not only that, you can be reported and have to pay very high costs. Apart from this, there may be a very black stain in your history that will make it much more difficult for you to access another insurance.
Declare a higher value in the insurance than the content actually has
Actually, this is another way of committing insurance fraud and a clear reason to terminate the insurance. If in your home insurance you declare, for example, that your home has a continent with a higher value than it actually has and at the time of a loss the company discovers the deception, not only will it terminate the contract immediately, which will make it not We can enjoy the coverages that we had in our policy and for which we were paying. Similarly, in a health insurance must declare all previous pathologies, as in a car insurance is necessary to declare all the extras or modifications -tunning or approvals outside the factory- that the vehicle has.
We also risk that that company no longer wants to work with us (it is most likely). If you had a good price there, you will lose it and you may have difficulty accessing another insurance if the information you have tried to commit fraud is shared with the rest of the insurance companies.
What can I do to avoid being thrown out?
If you do not want the contract to be rescinded , follow these tips:
- Read carefully the conditions of your insurance contract and make sure that all the coverages and risks are well stated.
- Update your policy whenever you add something of new value. Even if you have a new pet you should include it in your home insurance (we advise you to use the multi-risk insurance for it).
- Be always honest and aware of your obligations and duties as a user, and comply with them.