What do I need to know about claim terms in my insurance policy?
Claim terms refer to the specific conditions and requirements you must meet to file a claim. They include definitions of covered events, deadlines for filing, and documentation needed.
Can you explain what a deductible is?
A deductible is the amount you must pay out of pocket before your insurance coverage kicks in. For example, if you have a $500 deductible, you pay the first $500 of a claim.
What happens if I miss the claim filing deadline?
If you miss the claim filing deadline, your insurance company may deny your claim, meaning you won't receive any benefits for that incident.
Are there any exceptions to the claim terms?
Yes, some policies may have exceptions or special provisions. It's important to read your policy carefully or consult with your agent for specifics.
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