General insurance Has anyone been cheated on by insurance companies?

[Alexandoy]

In 2009 when the metro was hit by the great flood, car owners felt cheated when their insurance did not cover the damages of the car that was inundated by flood waters. There was an argument on the "act of God" against natural calamities. Now the government had enforced a new regulation on such "acts of God" that the insurance companies have to include in the coverage.

 

[sincerem]

I have no insurance premium at the moment, so, my answer will remain No at the moment. It is believed that some insurance companies might run very low in income, due to excessive damage covers through the policy they sold out to the insured. Which might make them going bankruptcy and making some disappear without informing its customers and that's fraudulent, which made others being cheated by insurance companies.

 

[Jasmine]

One of the best ways to avoid being cheated by insurance companies is to red the terms and conditions. When you know what is being covered and what is not, it is less likely to be scammed. When you chose a reputed company, getting cheated is also less likely to happen.

 

[Abigael]

That is so unfortunate for those people who were denied their Covid 19 insurance. Other cases include those that they scam you completely. That is, some conmen pretend that they are insurance companies and collect the funds for several years. Then when you claim the insurance for use, you find out it was a scam. So it is really best to do extensive research before investing in an insurance company.

 

[Chibson]

I have not particularly be treated by any insurance company because i have not enrolled in anyone. it is therefore very important for people that wants to go into various insurance companies to always read the terms and understand it well before signing an agreement with such company in order not to be cheated.
Some insurance companies do not really live to expectations of their insurers, so it is important to be careful.

 

[sincerem]

I have two insurance policy, one term life, two, vehicle insurance. So far, there has been no accidents, therefore, I have not received any coverage benefits. I have heard of horror stories of people getting scammed by insurance policies, however, this has not happened to me. You need to check the terms before buying insurance.

At least you've not been cheated, nor playing for accidents to come by so you earn your fair share of benefits. Since you know accident isn't something worth taking, rather it comes unexpected. And we know it's quite inevitable for humans, it comes but it wouldn't affect everyone, so, even if it never come to you be grateful for good life, Lol.

 

[Jasmine]

I have two insurance policy, one term life, two, vehicle insurance. So far, there has been no accidents, therefore, I have not received any coverage benefits. I have heard of horror stories of people getting scammed by insurance policies, however, this has not happened to me. You need to check the terms before buying insurance.

 

[Phabbyfundz]

I have given so many advice's on the importance of insurance companies and their benefits and I have also made it known that despite their numerous benefits they are also many fraudulent insurance companies out there looking for ways yo abscond with your investments. Before registering with any insurance company you have to make a lot of researches and inquires, you have to come to terms with their policies and terms governing the contract.

 

[sincerem]

Laughs, the influx of payment benefit request became a burden to them. That's to say they are humans, at times we act somehow weird because losses is at stake. But to be frank that's fraudulent of such insurance company or compaies in your country. When you're giving out premium be specific and stand by your claims.

 

[Mika]

There is no clause of the Act of Gods in our home country, however, during the armed insurgency, many insurance companies denied paying coverage for the property damaged by insurgents. After heavy pressure from the government, many insurance companies finally started providing coverage for the property damaged in the insuragency.

 

[Mika]

Yes, you heard this right, a lot of insurance companies cheat on people. While I have not been specifically cheated on by insurance companies, I have seen a lot of people being cheated on by insurance companies. I am a case study.

When Covid-19 cases were being spotted in the country, insurance companies in my home country began selling Covid-19 insurance policies. Just in few weeks, hundreds of thousands of people bought Covid-19 insurance policy. Having collected funds worth millions (in local currency) in a short time, insurance companies were very happy until the Covid-19 cases began to surge and people began to make claims.

Since insurance claims began to pile up insurance companies began to make excuses. They started saying they will not accept Covid-19 test reports from private labs but only from state-owned labs. This excluded a lot of people.

Despite this excuse, claims continued to surge and the insurance companies began saying that they will consider covering only for the people who were hospitalized and in critical care.

 

[Wisdom01]

Before agreeing to any insurance terms and conditions , I think i will first do my own proper research well , because I Know the level and rate of scammers , and also check on the insurance company modes and see if it's legit and others ,so I won't be cheated

 

[Jamoflondon]

I have never been cheated but I have a friend who once complained about one insurance company he had an insurance plan with. He sounded like he was scammed by the insurance company. He opted for a car insurance and when he needed the insurance company to take cover for him, they were not there and they started asking for some paper documents he couldn’t provide

 

[kayode10]

As we have good and reputable insurance companies, there are some out there too who are ready to rip off their clients to make more money for themselves. these are the insurance companies you are going to see that they will find it difficult to provide for the clients despite the fact that they are paying premium regulars.

 

[Mandy96]

To me, I can say that insurance companies are legitimate scammers, they try to appear like a savior to their clients and make money from their premiums. If insurance companies are so legit, I don’t think the premium should be paid continuously, it was supposed to be a one time payment even if it is necessary to pay premiums

 

[Mika]

When the policy was introduced, the insurance companies did not expect the covid cases to be very high. They thought the number will remain under 1000 or even 10,000 and they will easily profit from the premiums. However, the cases rose to hundreds of thouands and it became a liability for the companies t pay each and every one.

 

[Setho]

This is actually a very bad news to be hearing even at this point in time where there are campaigns to encourage more people to be able to enroll in insurance schemes. I just hope that the government will be able to make for more measures that would ensure people's rights are not being trampled on top.

 

[btaliat]

That's just it. Some insurance companies are only after the money and not really to ease burden as people may think. This is very common when the insurance company discover that they may not maximize profit if they abide by the terms and condition. They will just come out with some plans to sabotage the policy.

 

[Bookwormlux]

That was a really bad experience and I just hope that the affected people were able to get Justice because this is pure cheating that should never be tolerated in any society at all. This also shows that there is a need to effectively check the terms and conditions of every insurance companies.

 

[Good luck]

A lot of people must have been cheated during the covid 19 insurance policy because most of them are not around as at the time of the covid and their benefits are not given to them..a lot of people also use the opportunity to scam people by asking them to register for an insurance policy that is not genuine knowing fully that the economy is not stable