Underwriting is the process insurers go through when they assess your application for cover.
What information will insurers consider when they assess your application?
There are several key factors that insurers will consider when they assess your application, such as:
When you go through your application, it's really important to be 100% open and honest with your answers to the insurers questions.
What happens once I've submitted an application?
If you have certain medical or lifestyle disclosures the insurer might contact you directly for some additional information before the policy can start.
Sometimes the insurer will write out to your GP for additional information or may require you to attend a medical screening, before they can make a decision on your application. They will need your consent to arrange this.
This information all contributes to whether an insurer can cover you, and on what basis.
Once your application has been fully underwritten (i.e. once they have assessed all of the information needed), the insurer will write to you with the acceptance terms. They will let you know if your premium has increased or if there are any exclusions to be placed on your policy.
If you are happy with the terms that have been issued by the provider, you can start the policy if you wish to do so.
In our experience, some of the most common causes for premiums to increase or terms to change are:
If any of these apply to you or If you're unsure about whether your medical history, occupation or hobbies will have an impact on your quotation please contact our advisers now:
What if my premiums increase, policy terms change or my application is declined?
We can help...
To find out more about our advised team and the service they offer please click here.