Signing a car insurance, home insurance, health insurance, or funded insurance policy will give you a set of documents. Among them are general and special conditions. (Credit: Bacho Foto –stock.adobe.com)
When signing an insurance policy, many French people skip reading general and specific terms. However, these small lines are very important. Only one in five French knows their contract inside out …
It is not enough to read the first page of your insurance policy to make sure you have enough insurance. Indeed, the devil is often hidden in the details. The general and special terms provided when signing a new contract or amendment provide valuable information about the level of coverage. What is the risk of not knowing about it? Summary of results when ignoring car insurance, home insurance, health insurance, or funded insurance contracts.
What are the general and specific terms of an insurance policy?
Signing a car insurance, home insurance, health insurance, or funded insurance policy will give you a set of documents. Among them are general and special conditions. The general terms are common to all policyholders of the same type of policy. They specify important information such as conditions for terminating the contract, or conditions for validating the warranty, in case of exclusion, and invalidation of the contract.
Certain conditions, as part of which, are unique to each insured. In particular, it includes a description of the risks covered (for example, home), general information about the subscriber (marital status, address, etc.), options selected, deduction level, contribution, and so on.
Who (really) is reading the fine lines of their insurance policy?
In terms of reading their insurance policies, all categories together, the French are bad students. According to a survey conducted by Lyanne, a platform for analyzing insurance policy terms, 46% of subscribers have never read the general terms of a policy. What is the reason for such numbers? Lack of interest and desire is paramount, but there is also a lack of time and confidence in the person you are talking to. After all, only 34% of the people asked read “sometimes” the fine lines of their contracts … and 21% systematically read, ie one in five French.
What is the insured’s risk of not reading the terms of his contract?
Misunderstanding of the general and special terms of the contract can have serious consequences. In particular, we may not be able to cover your claim if the information contained in the special terms does not address the actual risk, or if the claim in question is covered in an excluded case. Explained under general conditions. Also, even if the insurance company claims the insurance, it may be necessary to reduce the amount of compensation paid.
In addition, ignoring that general condition reading may ignore the condition for declaring a claim. According to Lyanne, “French people especially expect speed, a simple process, clear explanations and transparency from insurance companies,” but according to the data collected by Lyanne, due to the very complex management procedures. , Many abandon the procedure during billing.
In addition, some subscribers are unaware that insurance will cover certain situations, so the warranty is not fully functioning. This is especially the case for small courts. For example, more than one in two French people have locksmith intervention when their keys are lost or stolen, even if their home insurance policy or even credit card insurance is granted. Do not call the insurance company. Partial or total compensation for costs associated with this event. Therefore, according to the Borursier.com site, insurers will have about 13 million claims, saving about € 40 billion.