An insurance contract is a legally binding contract. This makes both the parties involved in the contract liable for fully disclosing all the details to each other. The insured person lies on an insurance policy to get an easy claim settlement but what they don’t realise is that it is easy for an insurance company to catch their fraud which could lead to various negative consequences. If you lie or fail to fully disclose details related to the insurance policy, then one of these things can happen to your insurance claim amount.
- Cancellation of the policy: When the insurer realises that you lied about any details, then he has the right to cancel your insurance policy at any point in time which would leave you at the disposal of the company to buy a new policy to be insured for the same thing.
- Penalties: Certain insurance companies charge a penalty or fine when they discover a lie in the insurance contract on the part of the insured person. Lying or not disclosing important information could result in heavy fines and penalties to continue your insurance plan without any problems.
- Rejection of claim: If at the time of claiming the amount the insurance company finds any faults or lies on the part of the insured person, then the company has the right to reject the claim amount concerning the insurance policy. Lying and fraud can lead to a rejected claim amount at the time of the need.
- Legal repercussions: An insurance contract is a legal contract and thus lawsuits can be filed by the insurance company on finding any fraudulent or malpractices on the insurer’s part. This could lead to imprisonment or heavy compensations to be paid by the insured person.
If you want an easy claim settlement without any hassles, then The Claim Consultants is here to guide you with getting the insurance claim amount without any issues. The Claim Consultant files your claim with ease and without any malpractices which can help you in getting your claim amount easily and quickly.
