Understanding the Insurance Claim Process Denver For 2020
Hey, it’s your boy Taylor Grant. I’m here with Bellator Claims Resolution and I’m here to talk to you about the Denial Of The Day. Today comes to us from Trina of Denver, Colorado.
“I switch my insurance to this new insurance company because it was cheaper. The policy was written with a 2500 deductible, which is pretty high.“
The majority of the time I deal with homeowners. Their deductible is only a thousand dollars so keep that in mind, it’s kind of high.
“I received a phone call from my agent’s office that my insurance was being canceled due to my deductible being too low.”
What! All sorts of red flags here and having only one policy with the insurance company.
“This is unbelievable because I should have been notified of this in the beginning”
But that is right like they know what they’re doing. They’re a multi-billion dollar corporation. They have the tools necessary to discover this information before they write a policy that then they go back and cancel, but now guess what you switched insurance companies to somebody else.
What if you try to go back to the insurance company you’re with, they might not take you back. Or their rates might be a lot higher now, you just never know.
“They would not increase my deductible to $5000”
More red flag…
You’re saying the deductible is too low, but you wouldn’t increase it. The other thing too that you have to be aware of as a homeowner and if this was a homeowner’s policy, what is your mortgage company require?
If the mortgage company says you can’t have more than a thousand dollar deductible and the insurance company is trying to force place insurance on you. That says a $5000 deductible or $2500 deductible, so be very careful.
“This is unfair and will cause a great impact on me. you will cause a drop in my insurance score and my credit score to go down because I will have to run a new credit report to obtain a new insurance policy”
So, be aware. I mean so many things that I can say. The number one thing I wanna tell you today is the cheapest policy is rarely the best policy.
And you shouldn’t buy insurance just based on the price. You should buy insurance based on the coverage that you need in the company that can offer them.
Trust me when I say.
Cheap insurance is never cheap when a claim has to be made.
These insurance companies are offering you like below everybody else’s rates to get your business. They have to pay for that somewhere right, so the rates are cheaper on the front end.
Their services usually even worse on the back end and they’re paying less in claims because you’re paying so few dollars to get your property covered.
They have to make it up somewhere then so I’ll tell you a real quick story.
About my high school economics teacher. Great guy! He said TANSTAAFL. He goes, does anybody know what TANSTAAFL is? It’s an acronym. TANSTAAFL
There ain’t no such thing as a free lunch.
So if you’re getting cheaper on the front end, it’s coming from somewhere. So, be aware, the cheapest policy is not always the best.
If you need help or when you have an insurance claim on your residents, your industrial property, your commercial property, whatever. it might be from hail and wind, lightning, fire, and tornado. Whatever it might be.Contact us today BellatorClaims.com
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