Steps to Set an Insurance Claim

 In Business Insurance, Health Insurance, Home Insurance, Life Insurance

Insurance is an important safety net that helps you in times of need. People pay monthly premiums and choose a plan carefully so that they have adequate coverage when needed. If you want to access this benefit, you need to file a claim with the insurance company. Many policy holders are intimidated by the claims process and don’t what they need to do to complete it successfully. Here are some tips on file an insurance claim effectively:

Determine Coverage 

Before you even get an insurance policy, make you have the right coverage. Some incidents aren’t covered by some policies, which means your claim will be rejected immediately after applying. Check your plan document carefully to make sure you can file a claim based on the current circumstances. For example, some builder’s risk insurance policies don’t cover damages caused by earthquakes. A claimant won’t be successful if they attempt to file in such circumstances.

Process

Once you have determined your coverage and know you have a basis for making a claim, take the steps explained below immediately after the incident occurs:

  1. Man upset on the phone

    Avoid major upsets by understanding your policy coverage and how to properly file a claim.

    Call Quickly 

Every delay can have an impact on your chances of filing a claim successfully. Call the insurance company’s claims department and explain the situation to them as quickly as possible. For example, if there’s an overnight storm that caused substantial property damage, call your insurance agent first thing in the morning after evacuating the home.

  1. Document the Damages 

Document what damages have taken place after the incident. You can take pictures, get copies of incident reports, or get medical papers in case of a life insurance claim. These documents will be proof of the damage and make the claims process more manageable. It also allows you to compare your documents with the insurance company’s assessment to settle discrepancies.

  1. Don’t Wait for Repairs or Treatment 

Delay in repairs or treatment only makes it more difficult to get reasonable compensation. If your property is damaged, make the necessary repairs that prevent more damage immediately. If a loved one is ill, make sure they are treated immediately to ensure their health doesn’t get worse. An insurance company will expect policyholders to take reasonable measures to limit the expenses connected to the incident.

  1. Keep All Paperwork Organized 

Keep proof of all expenses connected to the incident. For example, if you have done some emergency repairs and paid out of the pocket, keep a record of them. The insurance company will compensate you if the claim is approved. Keep track of all out-of-pocket expenses, paperwork related to the incident, and maintain a separate file for your insurance company. That can speed up the insurance claim process significantly.

The insurance company will take some time to examine the claim before approving it. Once that is done, they will transfer the compensation amount to your account.

If you want to know more about insurance claims or need some advice, please don’t hesitate to reach out to us at Affordable American Insurance. You’ll find all the contact information as well as a form here.

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