How To Avoid House Insurance Scams
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Insurance is worth a lot of money - as is insurance fraud. There are a lot of companies out there who offer excellent policies at great value, but you should remember that just like any other field where money can be made there are people out there who are not legitimate insurers. If you come across a policy that looks too good to be true there is every possibility that it will be exactly that.
So it's important to protect yourself from being scammed. Most of this is common sense - maintaining a certain amount of scepticism and preparing yourself in advance. You absolutely have to know what you want, and what you are getting and how much you should be paying for it. Do some research beforehand and find out what you should expect from an insurance policy before you start the process of getting one.
An important step is to make sure that you get a copy of absolutely every form that you get. Don't let the agent or company have any individual copies of anything. If you are going to pay for your policy in instalments make sure that your agent gives you the paperwork that describes exactly how much you pay for each instalment, and further what the payments that you are making cover. Whilst this is quite a lot of extra paperwork, no reputable insurance company will mind you asking and it may offer you protection if your agent suddenly disappears with your money.
If you send an application form and don't receive a policy within thirty days then you should make contact immediately. Even if you have just been sent preparatory information make contact anyway, if you send off an application form you should get a policy back and if you don't then it may be that something is amiss.
Ask for another opinion. If an agent attempts to sell you a more expensive coverage despite you still having a current policy then it may be a scam, and the new policy you are being offered may not actually have any additional benefits for you. If you have got what you wanted the first time round and put your research in then don't listen to any suggestions that you should upgrade, and if you are uncertain contact your insurer independently and some other companies to make sure that what you are being told is true.
Above all, use a reputable company - such as RIAS - for your house insurance or other important policies.
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