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This is the refusal of an insurer to insure an individual under a policy after careful assessment of the application for insurance and any other germane factors. Typically, an auto insurance company would prefer to provide coverage for an insurer with good credit.
However, not all state or insurance companies would condone any form of declination just for some reasons, especially for a reason of poor credit. They may be kind enough to offer insurance coverage directly or indirectly to those with poor credit as in the case of others having good credit.
Refusing to insure an individual may most likely lead to lack of insurance benefits and protection (coverage) from an insurance company. The cause for disqualification of these individuals is as seen and assessed from the individual's insurance application.
The cases of declination are not limited to the auto insurance industry. It is also applicable to other fields of insurance. It may be a sad experience for someone who yearns for an insurance coverage only to be disapproved after the evaluation of applications.
There are appropriate steps that you can take to ensure you are not restrained or disapproved from getting that coverage you desire. More details will be given on these and other important information from future posts on this blog.
However, not all state or insurance companies would condone any form of declination just for some reasons, especially for a reason of poor credit. They may be kind enough to offer insurance coverage directly or indirectly to those with poor credit as in the case of others having good credit.
Refusing to insure an individual may most likely lead to lack of insurance benefits and protection (coverage) from an insurance company. The cause for disqualification of these individuals is as seen and assessed from the individual's insurance application.
The cases of declination are not limited to the auto insurance industry. It is also applicable to other fields of insurance. It may be a sad experience for someone who yearns for an insurance coverage only to be disapproved after the evaluation of applications.
There are appropriate steps that you can take to ensure you are not restrained or disapproved from getting that coverage you desire. More details will be given on these and other important information from future posts on this blog.
Posted in: Glossary of Auto Insurance (D)
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