A young man bought a donkey for $100 from a farmer. The donkey died. The owner thought of a way to get his money back. He arranged a draw for the donkey, sold 100 tickets at $2 and collected $200.
The winner of the draw came to collect the donkey, found that the donkey was dead and made a complaint. The owner refunded back his $2.
The morale? Some insurance companies collect your premium. When you make a claim, they reject the claim (or refund back your premium) on the grounds of non-disclosure or other reasons. Look for an insurance company that is honorable in paying claims, and in treating customers fairly.
Source.
The winner of the draw came to collect the donkey, found that the donkey was dead and made a complaint. The owner refunded back his $2.
The morale? Some insurance companies collect your premium. When you make a claim, they reject the claim (or refund back your premium) on the grounds of non-disclosure or other reasons. Look for an insurance company that is honorable in paying claims, and in treating customers fairly.
Source.
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