The J.D Power 2020 U.S Property Claims Satisfaction Study places Chubb at 871, which is below the industry average of 881.
Insurance companies like Chubb have an obligation towards the insureds, which is the basis of their contract. They need to adhere to specific state laws when they underwrite your insurance policy and decide on your policy premium. They are not permitted to arbitrarily cancel your policy unless, of course, you do not make premium payments or you fabricate information. Even then, they need to give you requisite notice before canceling your policy. Considering the strict operating guidelines that they need to follow, it is surprising to see the number of disgruntled customers and litigations against them for their bogus claim denials.
An insurance company’s primary goal is to make money that is understandable; however, doing this in underhand ways that is not fair to its customers creates disharmony and damages their reputation. Insurance companies never openly contradict you and use surreptitious ways to create obstacles to disapprove of your full claim request.
Fraud is a crime that beleaguers all insurance companies, so they are very careful while reviewing claims and err on the side of extreme caution in all cases. However, when this is translated to the shop floor, it gets converted to an outright denial on the part of the field adjusters. Feedback suggests that either these insurance adjusters are untrained or not knowledgeable enough. Or completely callous when it comes to the customer’s point of view, it appears that they don’t care.
Some standard methods employed them to cut down a customer’s rightful claim:
– Most customers are unaware that any ambiguity in the policy clauses is considered law to be in their favor. They feel pressured and consent when the field adjuster tells them that the cited damage is not covered under the policy, quoting the exclusions.
– Unsuspecting customers may miss out on the fine print that mentions the deadline for filing claims. Or your insurer may insist that the incident doesn’t fall within the coverage dates.
-Insurance companies will try to confuse you when they can’t convince you. They may tell you that the information in your application form was incorrect, which invalidates the particular coverage in your policy.
-Their field adjusters will contradict your contention that the damage claim is legitimate; they will try to prove that the loss does not fall under the mentioned coverage.
You may wish to deal with your insurance company’s disputes on your own, but after protracted discussions, you may find that you are unable to make any headway. You may even be upset enough to want to proceed legally against them, but hold on, do not take any hasty decision. The state has made provisions for disappointed customers like yourself to receive assistance from licensed Public Adjusters. These are unbiased adjusters, not employed the insurance company, and they will objectively view the situation and fight for your cause.