Insurance claims are made every day. Looking at the most common claims made just goes to show exactly how much of what’s important to us in our everyday lives can be protected by purchasing insurance.
Wedding Insurance
A majority of wedding insurance claims are made for lost deposits. This can be a hotel closing down, a caterer failing to show or an absentee photographer. All nightmare situations, but thankfully all covered under the policy. After that it’s illness or injury, usually when it results in the wedding having to be rearranged.
Pet Insurance
A recent study has found that in a two-year period, four in ten pet insurance policy holders made a claim against their policy. The majority of these claims, 70%, are for pet illness or accident and injury.
Auto Insurance
There are a number of situations that can result in a claim against your auto insurance, but by far the most common are fender benders. Minor accidents like those that occur in parking lots or at stop signs. Usually damage is minimal and more of an inconvenience, but making a claim rather than paying for the repair yourself is a good way to test the full extent of your policy and become familiar with the claims policy.
Home Insurance
Claims against home insurance can be weather damage, theft or fire however the most popular claim is water damage. Claims for water damage make for almost 69% of claims, mainly as a result of faulty plumbing rather than flooding.
Cell Phones
Many people don’t know that they can protect their phone with a specialized policy, but as technology becomes more advanced phones are becoming more important and so many are opting to purchase insurance. A recent study has revealed an alarmingly high claim rate against these insurance policies – mainly for damage. It’s estimated that 51% of mobile devices given as Christmas presents have been damaged in some way already. In fact the overall majority of claims are made within the first four months of ownership.
So looking at the most common insurance claims, do you have the right protection for these circumstances? You never know, you may have to make one of these claims yourself.
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