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What Can You Do Should Your Insurance Claims Get Rejected

luke — Wed, 03 Jan 2018 00:30:08 +0000

If you haven’t experienced it, good on you! But those who have had their insurance claims rejected, know exactly how painful it is to have your claims turned down by your insurer! And the processes that follow suit? Urgh don’t even mention it.

But fine, you got your claims rejected. You want to know what actions you can take. So here are some of the actions you should take.

Here’s what you can do should your insurance claims get rejected:

1. Find out why your claim has been denied!

Your insurance company should have given you an official letter or statement detailing the reasons as to why your claim has been denied. Understand those reasons. Check against your insurance policy to make sure that they are not mistaken.

If you have an agent, make sure that he or she explains it to you clearly. Sometimes if it is a small claim, especially with motor insurance, the relationship the agent has with the insurer and his or her negotiating skills may come in handy. Ask if he or she can help.

If you do not have an agent, and should you require further explanation regarding the denial, your best option would be to go directly to the insurance branch and speak to someone from the claims department.

2. Can you appeal?

After checking all the facts and going through your policy more than just once, you may feel that you have been wrongly denied! You can try to appeal or dispute the decision given by the insurer.

Your claims may have been denied over minor issues such as insufficient documents. This should be solved easily enough and you should consider yourself lucky. Understand the requirements well and offer all that is requested. Get your agent to go through the documents to ensure no mistakes made this time around.

On the other hand, if it is not a simple matter such as missing documents, you may want submit an official complaint to your insurer’s complaint unit or internal dispute resolution department. Write in and send along all supporting documents. Make sure that you have make copies of all documents handed in. And wait patiently.

3. Seek help from relevant parties

So you’ve seeked the help of your agent and your insurer’s claims department. Filed a complaint with the complaint department and still not getting the desired outcome? All the time knowing (or feeling) that you have been unfairly treated? What you can do next is to take this matter up with the relevant parties:

PIAM – Persatuan Insurans Am Malaysia (General Insurance Association of Malaysia) if it is a general insurance/ takaful am related claims.. Such as a motor insurance claim due to theft or accident.

Bank Negara Malaysia – Bank Negara Malaysia via its BNMLINK and BNMTELELINK channels, offer dispute resolution services to tthe public in regard to all banking as well as insurance related matters.

Ombudsman Financial Services – is a non-profit organisation under Bank Negara that offers complaint and dispute resolution services between the public and its members that among others, consist of local banks, financial institutions, insurance companies as well as takaful operators.

When you file for your complaint/ dispute with any of the agencies above, please make sure to have understood clearly their requirement. For instance, PIAM and Ombudsman Financial Services require that the complaint be made within 6 months from the date you receive a letter rejecting your claim from the insurer.

For contact information, refer at the end of this article.

4. Take the matter to court

If your complaint/ dispute is still unsuccessful after all the complaints done, you can still take it to court. This is perhaps the last resort. You can engage a lawyer. But before resorting to this, please make sure you have a real solid case as this may end up being a long and difficult ride. If you are sure that this is the action you’d like to take, please make sure that your lawyer has the experience in such a case and has good reference.

Find below contact details of relevant agencies that offer complaint/ dispute resolution services:

Persatuan Insurans Am Malaysia/General Insurance Association of Malaysia

Level 3, Wisma PIAM
150 Jalan Tun Sambanthan
50470 Kuala Lumpur
Tel: (03) 2274 7395/9
Fax: (03) 2274 5910
Email: [email protected]

Bank Negara Malaysia – BNMTELELINK

(For complaints through fax, mail/post and emails)

Bank Negara Malaysia
P.O. Box 10922
50929 Kuala Lumpur

Tel : 1-300-88-5465 (1-300-88-LINK)
(Calling from overseas: 603-2174-1717)
Fax: 603-2174-1515
E-mel: [email protected]
SMS : 15888

Operating hours: 9.00 pagi – 5.00 petang (Isnin – Jumaat)

Bank Negara Malaysia – BNMLINK

(For walk in customers)

Tingkat Bawah, Blok D
Jalan Dato’ Onn
50480 Kuala Lumpur

Operating hours: 9.00 pagi – 5.00 petang (Isnin – Jumaat)

Ombudsman Perkhidmatan Kewangan

Walk in at:
Tingkat 14, Blok Utama
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur.

Or mail your official letter of complaint to:
Unit Pengurusan Aduan
Ombudsman Perkhidmatan Kewangan (664393P)
(dahulu dikenali sebagai Biro Pengantaraan Kewangan)
Tingkat 14, Blok Utama
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur.

Click >here< to file your complaint online.

The post What Can You Do Should Your Insurance Claims Get Rejected appeared first on iBanding Making better decisions.

5 Common Reasons Why Your Car Insurance Claim Might Get Rejected

luke — Wed, 13 Dec 2017 00:00:09 +0000

Not a fan of reading the terms and conditions of your insurance policy? Don’t blame you, nobody does. They are one of those things we neglect until after we’ve found ourselves in hot soup. So here we’ll make it easier on you, our readers, and list down several common reasons why your car insurance claim may be rejected.

5 Common Reasons Why Your Car Insurance Claim Might Get Rejected

1. Unnamed driver

Did a member of the family, a relative, a colleague or a friend drive your car when the accident happen? Guess what. Your insurance policy only covers you, the car owner. Now this does not mean that no one else can drive your car, it only means that for you to extend the same coverage to them, you will need to register them as the “named drivers” in your car insurance policy. But all is not lost. If there has been an accident involved an unnamed driver, you simply have to pay an ‘excess’ of RM400.

In Malaysia, you are allowed to include two drivers in your motor policy for free. Any additional driver will cost additional RM 10.

2. No police report

If you are unclear of the procedures that follow a car accident, you need to read this accident guide.

One of the most crucial things you need to do after an accident is filing a police report within 24 hours of the incident. This is something you do not want to take lightly! If you don’t file a report or file a report during the specified period, your insurance company has the right to reject the report as well as your claims.

So tarry not! Off you go to the police station as soon as an accident occurs. You really don’t want to have to fork out thousands of ringgit in repair cost just because you decided to postpone this task to the next day. Also, don’t just go to any police station, make sure you find the closest balai polis trafik!

3. Cause your policy doesn’t cover that

Many people assume a car insurance policy naturally covers every single aspect of the car as far as damages and lost go. Well not true. For instance, if you have a Third Party cover, your policy won’t even cover the cost of repair for YOUR OWN CAR! That’s right. Any accident involving your car, even if you’re not at fault, will not be covered by your insurance company. But no fret, if you’re not at fault and if the other party has a valid insurance cover, you can just claim against their policy.

Some other good examples that you need to know that is not covered by your policy, even if it’s a Comprehensive cover, are as below:

Damages due to civil commotion
Accessories
Flood and other natural disasters (that’s right FLOOD!)
Your own bodily injury (so make sure you have a personal accident cover)

7 Dreadful Instances Your Motor Insurance Does Not Cover

4. Failure to disclose vital information

When renewing your car insurance, especially if you are doing it on your own, such as through the insurance company’s online portal, make absolutely certain you got all the information correct. With detariffication, more information is now needed for insurance companies to determine the price of your policy. For instance, some insurers require information about the type of your parking garage. A secured, private garage has a lower risk of theft compared to one that is unsecured and open. So if you got some of this information wrong, you may have just given a reason for your insurer to reject your claim.

5. Drunk driving or driving under the influence

Well you really shouldn’t be drinking and driving or driving under the influence of any dangerous drugs. If you are involved in an accident while being drunk, not only your claims will be rejected, you will be charged with a fine and may even face jail time.

So take heed, never drive while under the influence. You may think you’re a great and careful driver even when slightly drunk. But if you’re involved in an accident even if it was some nitwit who just got his license two days ago who hit you from behind, guess what? That’s right. No claims for you.

Other reasons you need to know about

Using private car for commercial purpose – if you met with an accident, your insurer has the right to reject your claims.
Under-insurance – this may not result in an out right rejection, however you will be subjected a much lower claimable amount.

So your claim got rejected. Now what?

If you think that your claim was unfairly rejected, find out if there is a chance to appeal. If not, or if you have appealed and still do not get a desired outcome, your option is to send your dispute to PIAM (Persatuan Insurans Am Malaysia), Bank Negara Malaysia or Ombudsman Financial Services. To read about how you can go about with the appeal read this article.

If you have any bad experiences with regards to an insurance claim, or have questions about it. Forward your queries here.

The post 5 Common Reasons Why Your Car Insurance Claim Might Get Rejected appeared first on iBanding Making better decisions.