The insurance idea is an excellent one because an insurance policy helps you in case the unexpected happens. You have just bought a new house or a new car. Now,you take out the appropriate insurance policy and you pay the required premiums. Depending on the policy,and the terms of the contract,your insurer will pay you compensation if something happens to your house or the car you have insured.
One of the principles of insurance is utmost good faith. This means both the insurer and the insured party should be honest and open with each other. None of the parties involved in this deal should withhold vital information from the other. In cases where the insured is discovered to have kept some vital information from the insurer,this might lead to an annulment of the contract. For the same reason,the insurer should give all the relevant information to the client so that the insured party knows exactly what to expect.
Unfortunately,there are cases where the insurance company tries to manipulate the client. This is why you need an experienced- to help you navigate the twists and turns of insurance law. Below are some reasons why it makes sense to have a legal expert on your side.
Your Lawyer Will Read the Fine Print
Some insurance companies have confusing and complicated terms and conditions. Get your lawyer to read and decipher these technical terms and you will not have any regrets later.
Clauses and Conditions
Sometimes,your insurance contract might contain clauses you do not understand. Do no sign any insurance contract unless your legal expert has looked at the document and approved it.
Finally,you should always consult a- before you take up any new insurance contract. It also makes sense to keep the lawyer informed about any changes in your insurance contract. This way,your insurer will not manipulate you or take advantage of your ignorance.