Key Takeaways:
- Stating the insurance claim process can be intimidating specially if you know little on the subject.
- Knowing your rights and what to expect after you file a claim can help you deal with the whole procedure flawlessly.
- The faster you file your claim, the quicker you will be eligible to receive your money.
Insurance policies provide reimbursement for any monetary losses incurred in the event of emergencies that fall inside the policy’s coverage. You purchase an insurance policy in anticipation of this guarantee, and you anticipate that the insurer will keep its word and resolve your claims in the event of the insured eventuality.
When you demand payment of the policy benefits from the insurance company, you are making a claim under an insurance policy. When an incident that is covered by the policy occurs and results in a financial loss, a claim is made. The insurer covers your financial loss and provides the benefits stipulated in the plan if the claim is covered by the insurance policy. You must adhere to a certain procedure when filing an insurance claim in order for it to be resolved.
What should you expect when you file an insurance claim?
A call from a claims adjuster:
- After reviewing your claim, your insurance provider will designate a claims adjuster—also referred to as a claim specialist—for you.
- After evaluating the damage, the claims adjuster will pay you in accordance with the conditions of your insurance policy. On the insurance company’s behalf, they will manage your claim.
- In order to assess the damage and schedule any necessary repairs, the claims adjuster may request a face-to-face meeting.
- Find out what happens to repairs, injuries, and medical expenses under your coverage.
- Never be afraid to ask your claims adjuster questions if there is anything you don’t understand.
A request for images or a video demonstrating the damage:
- Record the damage to your possessions and the contents by taking images and videos.
- For instance, your furniture was destroyed by a flood in your house. Having pictures or videos of your property taken before a crisis might help you set a baseline.
- When filing an insurance claim, it can be beneficial to have images or videos of the damage from the occurrence to help the insurance company determine how serious the damages were.
Negotiating with an insurance adjuster:
- Ideally, the adjuster would present you with a fair offer. But things aren’t always like this.
- You have the option to haggle or ask the adjuster to show you how they arrived at the settlement amount if you think it is too low.
- You get useful information from this process to help you avoid receiving small claims payments.
- If you disagree with the adjuster’s damage estimate, an estimate from an independent contractor can support your argument.
A waiting period:
- It is important that damaged property is replaced or repaired as quickly as possible, even when insurance pays for these expenses.
- Nobody likes to be forced to live without a car for weeks at a time or to move out of their house for several months.
- Depending on what your state requires, the insurance provider has a certain number of days to notify you if they are accepting the claim or not.
- Still, the wait can seem long, whether you need your car fixed or your roof restored.
- Contact your state’s insurance department if you are unclear about the time frame within which your insurance provider must respond to your claim.
Temporary relocation:
- Your homeowner’s insurance policy typically covers additional living expenses including rent, food, pet boarding, utilities, and transportation if an insurance adjuster determines that your home is uninhabitable.
- Living expenses need to be reasonable given your way of life right now. For instance, you can’t expect to have temporary accommodations in a multi-bedroom penthouse suite if you own a modest residence and live alone.
- In the same way, avoid cramming your large family into a small motel room.
- While repairs are being completed, comfortable living quarters should be provided through temporary housing.
Payment and repair completion:
- Receiving your money and having your repairs finished are the two main objectives of the claim procedure.
- Even though adjusters can frequently provide you with a check almost right away, the money might actually be paid to the contractor or repair business based on how your insurance company handles claims.
- It may pay the shop directly if you select one that your provider recommends.
- In certain rare circumstances, a home repair contractor could ask you to sign a legal document directing the insurance company to reimburse the contractor. However, don’t proceed without first speaking with your insurer.
What does this mean for you?
It can be difficult to file an insurance claim, particularly if you are not familiar with the procedure. On the other hand, filing an insurance claim correctly can mean the difference between having it accepted or rejected. Remember that the sooner you submit your claim, the quicker you’ll receive your money and have the funds available to cover any required replacements or repairs.
