Understanding insurance can be tricky, especially if you have multiple policies. This guide simplifies the process by explaining what an insurance policy includes, the steps to take if you lose your policy, and how to verify your insurance details. Whether you need to understand your coverage, replace a lost policy, or check your insurance information, this article has you covered.
Many people have multiple policies from different companies, such as car, health, and accident insurance, which can lead to forgetting about them. When a policy is lost, the initial reaction is often stress. However, there’s no need to worry. Just prepare the necessary documents and follow these steps.
If you’re still concerned about potential issues, we are here to help. We’ll guide you through the process and ensure you regain your coverage.
What is an insurance policy?
An insurance policy is a legal document that serves as a contract between the insurance company and the policyholder. It outlines the details and conditions of the coverage provided by the insurance company to the policyholder for the specified period. Typically, it includes the following information:
- Personal information: Details about the policyholder and related individuals, such as names, addresses, birth dates, and other personal information.
- Coverage details: Information about the type of insurance, coverage period, premium amount, coverage limits, and various coverage conditions.
- Costs and premiums: Information on premium payments, payment schedules, and payment methods.
- Terms & conditions: Details about the terms and conditions of the coverage, including exclusions and limitations.
- Covered items: Information on what is covered in the event of an incident and the conditions for making a claim.
- Exclusions: Details about situations where the insurance company does not provide coverage and the conditions for policy cancellation.
What to do if you lose your insurance policy
Request a copy of the policy document
Notify the insurance company and request a copy of the original policy document. The company will send you a certified copy, which can be used in place of the original.
Request a new original policy document
Contact your insurance provider to request a replacement if you need a new original policy document. The process may involve some fees, which vary by company. Here are the steps:
- Visit your local police station to file a report.
- Provide the police report and your ID to the insurance company.
- Pay the required fee to issue a new policy document.
What documents are required to apply for a new insurance policy?
- A police report in case of lost insurance policy, which must state the company name and policy number. Most importantly, the policyholder must file the report personally.
- A form for reporting lost insurance policies or replacement insurance policies from the insurance company.
- In case the policy is damaged, the damaged policy must be presented as a replacement policy.
- Payment for new policy application (depending on each insurance company).
- A copy of the national ID card or other identification card, with the insured person signing to certify that the copy is correct.
Did you know? If there are any errors in your insurance policy, you can request a correction.
As a policyholder, you can change various information in the policy, such as address, name, surname, beneficiary, etc. The process is similar to requesting a new policy document in case of loss, involving completing a form and submitting supporting documents. However, unlike the lost policy scenario, there is no need to file a police report. You can directly contact the insurance company to make these changes.
Where to check your insurance policy details
Policyholders need to understand the potential consequences when an insurance policy is lost. Whether it’s a car insurance policy, health insurance, or any other type, losing the policy can affect your coverage and your ability to perform various insurance-related tasks. The specific impacts depend on the policy’s terms and conditions. Here are the details:
1. Policy renewal
If you wish to renew your policy but it turns out that it is lost, it may take some time to request information disclosure and renew it. This means that the insured will have to verify the information and consider it again because the original policy used as evidence has been lost. In addition, there may be additional costs or new conditions added (depending on the company).
2. Claiming coverage
If you need to make a claim but lack the original policy document, you must inform the insurance company and request a replacement document. This can delay the claims process.
3. Policy cancellation
Losing your policy can also affect the cancellation process. While you can still cancel the policy, you must follow the terms and conditions specified in the agreement, which may cause delays.
How to check your insurance policies
For policyholders with multiple insurance policies who want to verify their coverage and the companies they are insured with (whether it’s voluntary car insurance, health insurance, life insurance, or in case of a lost policy), there are three convenient ways to check and verify this information:
Online method
The online method is the most convenient. Policyholders can check their policies using the “My Policy” function through the Line Official Account of “OIC Connect.” Here are the steps:
- Add the OIC official LINE account (@OICConnect) as a friend.
- Register and verify your identity by taking a photo of your ID card along with a selfie.
- Enter your phone number to receive an OTP via SMS for identity verification.
- Once registered, you can immediately check all your policies.
Contacting the OIC
Those who prefer to handle matters in person can contact the Office of Insurance Commission (OIC) directly. Call the insurance hotline at 1186 or follow these steps:
- Download the request form from the OIC website.
- Fill out the form, sign it, and attach the necessary documents.
- Provide a copy of your ID card.
- If authorising someone else, include a power of attorney and a copy of the authorised person’s ID card.
- Provide a copy of your vehicle registration.
- Include other relevant documents, such as a name change certificate or marriage certificate.
- Submit the form and all documents via email.
Submitting a request to the Central Insurance Database (TID)
Another easy and straightforward way to check your insurance policies is by submitting a request to the Central Insurance Database (TID), managed by Thai Insurers Datanet Co., Ltd. TID collects data on all types of non-life insurance in Thailand.
Required documents for insurance verification
The necessary documents for insurance verification are divided into two cases:
- For policyholders filing a request
- ID card of the requester
- Copy of the requester’s house registration
- For beneficiaries unaware of a life insurance policy
- Death certificate of the deceased
- Copy of the requester’s house registration and ID card
What are the advantages of checking insurance policies?
It’s important to understand that having easy and hassle-free access to insurance information is highly beneficial. Not only does it make things more convenient for the insured, but it also helps those with multiple policies plan for renewals or additional purchases.
This ease of access also greatly aids in financial planning, particularly when it comes to paying insurance premiums. It allows both the insured and their close ones to verify necessary insurance details when needed easily.
If you find yourself in a situation where you’ve lost your insurance policy, there’s no need to worry. You can file for a new policy to replace the lost one. While this process may take some time and incur additional costs, it does not affect your coverage at all. The procedure is straightforward and uncomplicated.
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Definition
| Policy information | Data or facts that are recognised and accepted as true, used as a basis for reference or calculation as outlined in the policy. |
| Central Insurance Database | An organization responsible for consolidating the central database of the non-life insurance sector in the country, operating under the name Thai Insurers Datanet Co., Ltd. (TID). |
| OIC | Abbreviation for the Office of Insurance Commission, a government agency that functions as a legal entity to oversee, inspect, and assist policyholders, ensuring their benefits are fully covered under the policy terms. |
| Damaged | The condition of being altered from its original state, resulting in defects or deterioration. For example, a damaged policy or damaged documents. |
