How to get the best out of your insurance policy

Dear Dr Pesa,

I am a 27-year-old single mother of one earning an average of Sh60,000 per month from my many hustles. Three months ago, I got injured in a terrible accident and used up all my savings on medical bills. My car was partially fixed by insurance. I however had no health insurance and had to pay out of pocket; I just finished paying off the debts. How do I go about choosing insurance? How can I ensure I get the maximum benefit?

Matilda Marita.

**This document is important because it acts as a reference point for both you and your insurer as regards the extent of coverage, exclusions, conditions and claim procedures.** [iStockphoto]

Report all claims promptly

In case of an accident or incident where a claim is required, reach out to your insurer immediately.

It is also advisable to refer to your policy document on the claims process and understand your obligations. This will help to start the processing of your claim as soon as possible.

Technology has eased reporting of claims, for example, the Association of Kenya Insurers (AKI) launched a Claims Registration App that enables customers to report accidents on their motor vehicles efficiently.

This means that various insurance customers, through the mobile app, are able to report in real-time when an accident when occurs and get feedback on the next steps.

Co-operate fully with your insurer during the claims process

It is vital to remember that an insurance investigator or claims adjustor may be appointed by your insurer to facilitate the claims process. These service providers have considerable influence on your claim.

Therefore, it is necessary to fully co-operate with them when a loss ensues and a claim is lodged. These will be instrumental in helping you confirm the loss, assess the damage and quantify your claim as well as propose recommendations to the insurer with regards to the claim.

Regularly update your insurance policy

It is essential for you to review your insured items or needs on a regular basis. This is because circumstances may have changed over time, new sector developments may have emerged or your needs and preferences changed.

For example, you may have made renovations in your home or bought new devices that are not covered under your home insurance cover. As such, you may consider updating your policy to cover these new purchases.

Utilise the services of your insurance intermediary

Insurance providers are your bridge to the best suitable policy for your needs.

Being in touch with your provider through inquiries and updates offers you the opportunity to learn about new discounts, sector developments and emerging technologies trends that can have an effect on your policy.

Insurance providers are also exposed to advanced analytics and knowledge that can be of advantage to you as a customer.

Risks in life and business are inevitable and insurance is the safest net to cushion and ease the impact that comes with these risks.

Not only should you consider being insured but also ensure you derive the best out of your insurance policy.