Tiempo de lectura: 2 minutos

The acquisition of an insurance policy should not be a task that is left to chance. When you are going to purchase an insurance policy, either because you have to comply with a legal requirement, as is the case of car insurance, or because you want to be forewarned against unforeseen events such as accidents and illnesses in the case of life insurance or medical expenses insurance, it is absolutely necessary to corroborate that you are acquiring a reliable product.

Unfortunately, the insurance industry is not free from those who want to take advantage of people’s needs and sell them insurance that has no official validity and therefore they will never be able to use it.




It is natural that when selecting an insurance policy the first thing we do is to review the costs, and that part of our decision is based on the price we are going to pay. While it is true that it is an important factor, it does not have to be the only one we consider. Remember that insurance is an investment, not an expense.

And the price is precisely one of the main warning factors to identify fraudulent insurance. Invalid insurances usually offer very affordable policies compared to the rest of those offered in the market. This may be attractive to many people, but if you are offered such a cheap insurance it is best to start suspecting that something does not look right.

To corroborate that an insurance company is legal, take into account the following points:

  1. Recognized insurer : the easiest and safest way to know the validity of an insurance is to check that the insurer is recognized by the National Insurance and Bonding Commission. You can contact them by phone and verify that they are registered.
  2. Back-up data: the insurer must have a valid and working telephone number.
  3. Documents with signature: another important point is that when you receive the policy you must read it to understand the terms in which it covers you and then you must sign it.If there is no signature, it is possible that it is a fraud.
  4. Complete information: you must verify that the data appearing on the title page of the policy is correct, legible and complete. The information it should contain is name and address of the insured and the insurer, contracted coverage, description of the vehicle in case it is a car insurance, insured sum, premium, deductibles, periodicity of payment of the premium, validity, endorsement number, form of payment and policy number.




In Lex & Co Law Firm we have a group of professionals specialized in dealing with insurance claims. If you have a special case call us and together we will find a solution.


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