What does your insurer charge you to cover a personal injury claim?

We generally believe that the investment we make in insurance is wise in terms of our cover for personal injury. It seems to be smart to invest in our future health, as well as any personal injury claim we may need to make. The Daily Mail however tells us something different. According to their report, insurance companies sell policies with insurance fees that surpass the amounts being claimed.  A consumer could potentially lose money instead of gaining a good compensation payout when they make a claim for personal injury. This is especially the case when trying to claim from the policy and the excesses are quite high. Even simple administrative changes, such as a name change can be costly. An article in Fairer Finance  claims that making a change to your insurance policy could set you back £23 on average, even with no material difference to the actual policy.

The insurers viewpoint: Insurance fee controversy is not quite so straightforward

According to the newspaper article, many insurance companies spoke out against this. All except Good to go commented. They defend themselves by saying that all insurance fees are previously disclosed and also that excesses do not have a big impact when the compensation pay-out is very high. They went on to say that in some situations, they do not charge any cancellation fees. Finally, they claimed that the customers could choose whether they wanted lower or higher cover and that they should the cover that suits their Personal needs.

Investigations are a concern for many, but insurance remain important to us all

The newspaper mentioned findings from Fairer Finance of numerous examples of this issue. One of the examples concerned car locks. Some insurance firms only allow individuals to claim less than half of the average cost of such an operation. With other small claims, some stolen cash travel policies gave out only £100 as a compensation payout at the highest. In these cases, the excess was £50 and some policy limits were the equivalent or lower than the excess.

Despite the coverage of this scandal in the news we optimistically disclaim that not all insuresrs are the so-called “bad guys”. According to us insurance plays a very vital role in the Personal Injury claims process. Insurances are essential to those who suffer real injury and in many other cases has led to the beneficiaries getting the compensation they deserve.

Ensure that when you make a personal injury claim, you have a solicitor on your side

It doesn’t matter how much your compensation pay-out from your insurance is – making a personal injury claim is likely to be a stressful process. To ease the burden, find yourself a personal injury lawyer to help you get the compensation pay-out that you deserve. Check out our personal injury claims portal if you need a solicitor on your side. If you would like an estimate of how much compensation pay-out you may receive, then pop over to our injury claim calculator. It is very handy in estimating how much compensation you may be entitled to. But remember, these are estimates only, so be sure to consult with a personal injury solicitor to make a successful personal injury claim.