Criticism of insurance companies
Tuesday, May 6, 2008 | | |Some people believe that modern insurance companies are money-making businesses which have little interest in the insurance field. They argue that the purpose of insurance is to spread risk so that the reluctance of insurance companies to take high-risk cases (for example houses in areas subject to floods, or young drivers) will against the principle of insurance.
Other criticisms include:
* The insurance policies contain too many exclusion clauses. For example, a home insurance policies do not cover damage to garden walls.
* Most insurance companies use call centers and staff trying to answer questions by reading a script. It is difficult to talk to anyone with a thorough knowledge
Other criticisms include:
* The insurance policies contain too many exclusion clauses. For example, a home insurance policies do not cover damage to garden walls.
* Most insurance companies use call centers and staff trying to answer questions by reading a script. It is difficult to talk to anyone with a thorough knowledge
I agree with the point that you have highlighted above about insurance companies. But its equally important that a person should take care of the coverage option before finally signing off the policy and also make sure about what is actually covered under the policy.
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