What Your Insurance Company Won’t Tell You (2024)

Discover the untold secrets of insurance companies and gain valuable insights into their practices. Learn about the information your insurance company might not disclose, including loopholes, exclusions, and tactics used to minimize payouts. This comprehensive guide delves into the complex world of insurance, exposing the hidden aspects that policyholders should be aware of.

UPDATED: Dec 28, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Dec 28, 2023Fact Checked

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Melanie Musson

Published Insurance Expert

Melanie Musson is the fourth generation in her family to work in the insurance industry. She grew up with insurance talk as part of her everyday conversation and has studied to gain an in-depth knowledge of state-specific insurance laws and dynamics as well as a broad understanding of how insurance fits into every person’s life, from budgets to coverage levels. Through her years working in th...

Published Insurance Expert

Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

UPDATED: Dec 28, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Dec 28, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Dec 28, 2023Fact Checked

Welcome to our comprehensive guide that unveils the truth behind insurance companies and what they won’t openly share with you. In this eye-opening article, we delve into the secrets and hidden aspects of insurance coverage and claims handling that your insurance company might keep hidden from you.

Discover the loopholes, exclusions, and tactics employed to minimize payouts and protect their bottom line. We cover a wide range of topics, including claim denials, underwriting practices, policy limitations, and more. Empower yourself with this knowledge to navigate the complex world of insurance and make informed decisions.

Don’t settle for less than you deserve. Take control of your insurance experience by entering your ZIP code and comparing rates from the best insurance providers who prioritize transparency and advocate for your interests.

Insurance Coverage Between the Lines

You could end up in a situation where you think that your insurance policy covers a particular incident, only to find out, too late, that it does not. Remember that it is your responsibility to have an adequate knowledge of what you are and are not covered for in your insurance policy. In addition to being aware of what you are covered for, you should also remember that insurance adjusters, no matter how friendly they might seem, are not on your side. The adjusters work for the insurance company and are paid to settle claims for the lowest amount possible.

Exclusions and Limitations

You may even have an insurance policy that is labeled as being “full-featured. Be aware that there can be a lot of loop-holes, exceptions, clauses and exclusions on these policies that you may not know about. These things help to provide your insurance company with a way out of paying for some claims. Check your policy to make sure that any value limits that are specific fall in line with what is considered acceptable within the insurance industry.

Claims and Your Deductible

Even if you are in an accident where the damages didn’t even exceed your deductible and the insurance company did not have to pay on the claim, don’t think that there are no consequences to that accident. Any accident that you are in that is equal to your minimum deductible usually has an affect on the car’s value, and can have an impact on your insurance policy. Remember to avoid filing a claim at all in most cases where you are going to be performing the repairs.

Adjusters Work For the Insurance Company

As I touched upon above, don’t get the wrong idea about an insurance adjuster if they attempt to buddy-up to your or if they seem to feel sorry for you. These people are on the insurance company’s payroll, they are not there for you. It is their job to reduce payouts on claims or even to deny some claims altogether. Don’t give any unnecessary information to the adjuster because they can use anything that you tell them against you. Stay away from chit chat with the adjusters and let them do their job.

File Claims Directly

Even if you agent insists that you call them first when filing a claim, you may want to call the insurance company directly instead. Doing so may speed up the filing of your claim. You should, however, tell your agent about the situation after it has been taken care of. Getting your agent involved in the process too early may slow things down considerably.

Homeowners Beware

Unfenced swimming pools, ‘vicious’ dogs, trampolines and other potential safety risks can be grounds for you homeowners insurance company to drop your coverage. As always, before you buy a homeowner’s policy, or any legally binding document, be sure of what is covered, what is left out and any ambiguous language that could cause a problem down the road. You want to make sure that you understand what you are, and are not, covered for by your policy.

Frequently Asked Questions

What won’t my insurance company tell me?

Your insurance company may not always disclose all information, such as the full details of your policy, potential discounts or ways to save on premiums, and other options for coverage.

Can my insurance company cancel my policy without warning?

In most cases, insurance companies cannot cancel a policy without providing written notice to the policyholder. However, there are circumstances where an insurance company may cancel a policy, such as non-payment of premiums or misrepresentation of information on the application.

Q: Can I negotiate with my insurance company?

Yes, you can negotiate with your insurance company, especially when it comes to premiums and coverage options. It’s important to be prepared with information about other policies and quotes, and to be willing to discuss different coverage levels and deductibles.

What should I do if my claim is denied?

If your claim is denied, you can first try to appeal the decision with your insurance company. If that does not work, you can file a complaint with your state insurance department or seek legal counsel.

Is it important to review my policy regularly?

Yes, it’s important to review your policy regularly to make sure that it still meets your needs and that you are not overpaying for coverage. Life changes, such as buying a new car or getting married, may require adjustments to your policy.

Will my insurance rates go up if I file a claim?

It’s possible that your insurance rates could go up after filing a claim, especially if you have a history of filing claims or the claim is for a significant amount. However, this is not always the case and can vary depending on the specific circumstances and your insurance company’s policies.

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Melanie Musson

Published Insurance Expert

Melanie Musson is the fourth generation in her family to work in the insurance industry. She grew up with insurance talk as part of her everyday conversation and has studied to gain an in-depth knowledge of state-specific insurance laws and dynamics as well as a broad understanding of how insurance fits into every person’s life, from budgets to coverage levels. Through her years working in th...

Published Insurance Expert

Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Free Insurance Comparison

Compare quotes from the top insurance companies and save!

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