Insurance is a phenomenon that has existed in the field of financial relations for decades. The ability to receive compensation in the event of a situation stipulated by the
insurance contract can become quite tangible support. In our country, there are two main types of insurance - compulsory and voluntary. Each of us dealt with one of them; many still think about the right to use the other. The knowledge of ordinary people in the intricacies of terminology and the whole process is very fragmentary, and sometimes unreliable.
Let us analyze one of the basic concepts in the field of insurance services, what is insurance compensation. What does this concept mean, how is it defined?
The insurance indemnity represents the actual amount that will be paid to the client of the company in the event of a case or situation stipulated by the insurance contract. On the example of the same motor third party liability insurance, it can be noted that the amount within which the damage incurred in case of an accident will be compensated is insurance indemnity.
Naturally, the amount of cash to be paid can be adjusted based on a number of conditions:
- The amount of compensation may not exceed the cost of damage that was actually caused to the property of the insured, if the contract does not provide for the payment of a specific amount, regardless of the circumstances.
- Compensation will also be reduced if the amount of insurance of an object is lower than its insurance value (unless otherwise provided by the insurance policy).
- In case of insurance of one object with several insurers, the insurance indemnity received from all insurers cannot be higher than the actual value of the property.
- The amount of compensation is payable regardless of payments under other agreements (social benefits or compensation for harm to health).
In modern reality, it is not uncommon for a policyholder to be refused a payment of insurance compensation. Such a decision may be caused by the following circumstances:
- Untimely notification of the company about the occurrence of an insured event.
- Incomplete package of documents provided as confirmation.
- Corrections in the insurance policy.
- Uninsured event.
These are the most common reasons that insurance companies put forward as arguments for refusing to pay. As for car insurance, the list of reasons for refusal or incomplete compensation for damage there is more extensive.
If the client doubts the legitimacy of such actions on the part of the insurance company, he may resort to such a procedure as the collection of insurance compensation in court. In order to guarantee yourself legal support and assistance, the most faithful will be contacting legal services. Independent appeal to the court can not always succeed, because insurance companies contain a fairly extensive staff of lawyers who can make you doubt the validity of claims. An independent specialist will help to understand the intricacies of the case, assess the chances of its resolution in favor of the client, and give detailed instructions on what documents must be collected to file an application with the court.