Is an insurance company bound to cover an accident
by Guest » Wed May 11, 2011 07:47 pm
Is an insurance company bound to cover an accident if they routinely accepted late payments on a policy, including accepting a payment the day of a loss?
Total Comments: 2
Posted: Wed May 11, 2011 07:48 pm Post Subject:
As long as your policy is in force (not cancelled) the insurance company is bound by the contract to pay a claim. You should read you insurance policy contract to make sure and check for the fine print that would let the company out of the claim. However, in most cases as long as your policy is active the claim should be covered.
Posted: Thu May 12, 2011 10:55 am Post Subject:
If there's a grace period beyond your policy due date, then I guess there's no reason for you to be worried. Just as strunkinsurance has pointed out, if you policy lapses beyond a certain date then your claims won't be accepted. But as you said, if your company is accepting payments, then it indicates that your policy is still in force.
Posted: Wed May 11, 2011 07:48 pm Post Subject:
As long as your policy is in force (not cancelled) the insurance company is bound by the contract to pay a claim. You should read you insurance policy contract to make sure and check for the fine print that would let the company out of the claim. However, in most cases as long as your policy is active the claim should be covered.
Posted: Thu May 12, 2011 10:55 am Post Subject:
If there's a grace period beyond your policy due date, then I guess there's no reason for you to be worried. Just as strunkinsurance has pointed out, if you policy lapses beyond a certain date then your claims won't be accepted. But as you said, if your company is accepting payments, then it indicates that your policy is still in force.
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