Insurance Claims: The Good, the Bad, and the Weird
A couple went on vacation for a week, leaving their home empty. While they were away, a burglar broke into their house and became trapped in the garage when the garage door opener wouldn't work. He was trapped there for a week and forced to dine on dog food and soda – the only edible items he could find. When the couple returned home, the burglar was arrested. However, he later sued the couple for mental anguish, claiming they had caused him emotional distress by leaving their home empty. He was awarded $1 million in damages.
I know that’s a weird one. But, the world of insurance claims can be a bit of a mystery, and I hope we can shed some light on the process with this article.
The filing
If you need to file an insurance claim, the first step is to contact your insurance company. You can do this by calling your agent or visiting your insurance company's website.
Once you've contacted your insurance company, you'll need to provide them with some basic information about your claim, such as:
The date and time of the loss
The location of the loss
A description of what happened
An estimate of the damage or loss
Your insurance company will then assign an adjuster to your claim. The adjuster's job is to investigate the claim and determine how much your insurance company will pay you.
During the investigation, the adjuster may ask you for additional information, such as police reports, medical records, and estimates for repairs or replacement. They may also inspect the damaged property or interview witnesses.
Once the adjuster has completed their investigation, they will make a settlement offer to you. The settlement offer is typically based on the amount of damage or injury caused by the loss and the terms and limits of your insurance policy.
If you accept the settlement offer, your insurance company will issue a payment to you. The payment may be issued as a check or direct deposit.
How to make a successful claim
Here are some tips for filing a successful insurance claim:
File your claim as soon as possible after the loss occurs. This will help ensure that the evidence is fresh and that you don't miss any critical deadlines.
Be prepared to provide your insurance company with as much information as possible. This includes police reports, medical records, and estimates for repairs or replacement.
Be honest and accurate in your statements to the insurance company. Lying or exaggerating your claim could result in your claim being denied or having your coverage canceled.
Be patient and understanding. The insurance claims process can take some time, but your adjuster is working to resolve your claim as quickly as possible.
What if you have an independent insurance broker? Here are your advantages:
Expertise: Independent insurance brokers have the knowledge and experience to help you navigate the claims process. They can help you understand your policy coverage, file your claim correctly, and negotiate with your insurance company on your behalf.
Advocacy: Independent insurance brokers are your advocates. They work for you, not the insurance company. This means that they will fight to get you the compensation you deserve.
Convenience: Independent insurance brokers can handle the entire claims process for you. This can save you time and hassle, especially when dealing with a complex or difficult claim.
Here are some specific examples of how an independent insurance broker can help you:
Filing your claim: An independent insurance broker can help you file your claim correctly and ensure you include all the necessary information. This can help to prevent your claim from being denied.
Documenting your claim: An independent insurance broker can help you gather the documentation you need to support your claim, such as police reports, medical records, and estimates for repairs or replacement.
Negotiating with your insurance company: An independent insurance broker can negotiate with your insurance company on your behalf to get you the best possible settlement.
Appealing a denied claim: If your insurance company denies your claim, an independent insurance broker can help you file an appeal.
If you are facing an insurance claim, having an independent insurance broker on your side can make a big difference. They can help you navigate the process, fight for your rights, and get your deserved compensation.
