Believe it or not, your insurer can indeed dump you for claiming too often. Briefly.co.za explores the facts and gives you tips on how to avoid this.
If you have made a few claims from your insurer recently, especially large ones, it might be worth checking how close you are to getting the book.
Speaking to 702 recently, consumer journalist Wendy Knowler revealed that your insurer could brand you as high-risk and dump you.
This, in turn, would make it extremely difficult to obtain an alternative insurance broker as it is compulsory to declare this when applying for cover.
Besides the obvious headache of not being insured, this could land you in some trouble with credit providers, who require financed vehicles to be covered.
In order to avoid this worst-case scenario, there are a few ways to dodge this bullet, including:
- Installing an alarm on your property without the insurance requesting it
- Maintaining insured properties to avoid claims that could have been prevented
- Arming your vehicle with a tracking device
- Avoiding high-risk areas, especially when parking
- Asking your insurance provider how close you are to being off-loaded
- Avoid making smaller claims, but do tell your insurer of any incidents to avoid non-disclosure headaches
- Look for a new insurance broker before the current one boycotts you
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