You hope it never happens. But sometimes, things go awry. An unexpected loss has hit you.. What do you do next? You make an insurance claim. While you may have insurance policies for all your assets, the claim process is very important too. You have to ensure that the insurance company pays you out quickly and comprehensively for the loss you have suffered. So, it is important to avoid mistakes during the process of Insurance claim.
To ensure that your insurance claim goes as smoothly as possible, we’ve compiled a list of mistakes to avoid when filing a claim.
The insurance claim process usually involves five main stages
- Connect with your insurance agent. Make a comprehensive list of all the damaged or missing things and give it to him. Provide any supporting documents that will assist you in explaining the situation.
- After you make a claim, the insurance provider will conduct a comprehensive investigation to assess the amount of loss or damages covered by your policy. An adjuster will be in charge of the investigation. He may employ appraisers and engineers for their expertise.
- After the investigation is done, the adjuster will thoroughly examine the insurance policy to determine what is and isn’t covered by your policy. He’ll let you know if there are any deductibles that relate to your event.
- Your adjuster will provide you with a list of preferred vendors to assist you with the repairs once the assessment is completed. You’re not obliged to use these vendors, but doing so will save you a lot of time and effort.
- Your adjuster will contact you to discuss the settlement of your claim and payment. The length of time it takes for you to obtain payment is determined by the severity of the situation.
Common mistakes made while filing a claim
- Failure to provide supporting documentation. Give the appropriate supporting documentation to your insurance agent when you submit the insurance claim forms. These documents may include a copy of a legitimate driver’s license, a copy of your National Identity Card, a police abstract, or a TIN, depending on the type of insurance policy you’re claiming on.
- You haven’t kept your records up to date. Assume that you meet with a bike crash by having an expired driver’s license. This could trigger a pause in your claim and make it more difficult to resolve or make a claim.
- Incomplete claim forms. One common blunder is sending claim forms that are incomplete. Make sure you fill out all of the parts of the claim form that pertain to your situation. Check that your phone number, address, and other important basic information are right. Provide the right details and sufficient information. If you submit an incomplete insurance form to the insurance provider, you will delay the whole process. However, if you give them incorrect details, they can reject your claim. So take your time and fill out the form patiently.
- Failure to submit a proper police abstract. This is critical in any burglary accident situation. You’ll need a police abstract if you’ve had something taken from your house or car. It will list ALL of the stolen items from you as well as how the incident occurred. This is important because you cannot make a claim for things which the abstract dont mention. If you’ve been in a car crash/bike accident, make sure you have a police abstract within 24 hours of the incident.
- Failure to keep the insurance company up to date. Notify the insurance agent as soon as the incident happens. By doing so, the provider knows that you need assistance from them and they will begin the procedure, and thereafter the provider will confirm you about your claim process.
- Lack of understanding the insurance cover. It’s important to understand what the insurance covers so you don’t end up underinsured. Your travel insurance policy, for example, may not cover a few activities when you’re abroad, and your home insurance policy may not cover all of the products you believe it does.
To summarize, every claim is different, and every claims process differs slightly depending on the circumstances. However, the adjuster will devote the time and energy necessary to settle your case. Every insurance companies dedicate their work in handling a handling any claim with utmost honesty, professionalism, and consideration.
You never know when your vehicle suffers damage due to accident. So don’t forget to e-Insure. e-Insurance is a digital vault that allows you to view all of your policies in one convenient location.