15% of Australians clueless on insurance claims: How you can fix that easily
From changing a tyre to lodging a tax return, there are some things in life that make being an adult complicated.
Recent Finder research has found that 15% of Australians don't know how to file an insurance claim, making it one of the top 7 'adulting tasks' respondents struggled with.
Claiming health insurance benefits (16%) and negotiating a better deal on a financial product (21%) also snagged top spots on the list.
And according to Finder's personal finance expert, Sarah Megginson, this level of incompetence could be holding Australians back.
"It's alarming how many Australians are winging it through adulthood."
"This financial illiteracy can have serious financial implications down the track. Aussies can't afford to bury their heads in the sand."
While adulting tasks like insurance and money management don't get taught in school, Megginson has encouraged Australians to take the leap for themselves.
"Sometimes the best way to learn is by doing. Set yourself a goal of accomplishing an 'adult' task you've been procrastinating on."
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Insurance 101: How to make a claim on your car or home insurance
Fortunately insurance claims are one of the more simpler processes to get your head around and can be broken down into 4 steps.
No matter if you're making a home or car insurance claim, you'll generally be expected to do the following:
- Get in touch with your insurer. The sooner the better, as they may be able to start your claim on your behalf if you do it over the phone. You also have the option of emailing them or using an app (if they have one).
- Share details of the claim. Have your policy number and personal details handy. You'll also need to provide information of the incident, like the date, time and location. If you're submitting a claim online, attach relevant images or documents as evidence.
- Submit your claim and wait for a response. Once your claim has been processed, your insurer will review the details and provide a response to whether your claim is approved or rejected.
- Reimbursement or repairs. If your claim has been approved, your insurer will share details on the next steps. For example, if it's a car insurance claim, your insurer will tell you when and where your car will be repaired.
Adulting tip: Don't forget to review and compare
Another side to adulting when it comes to insurance is knowing when it's time to switch to a better offer.
There's no hard rule to how often you should be reviewing your insurance policies, but at least once a year is a good place to start.
By regularly reviewing your policies, you can ensure you're covered for the things that matter most to you — and for the right price.
Take the first step toward efficient adulting by comparing your most important insurance policies today.
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