The aftermath of a disaster is always sad but you want to get back to normal state as soon as possible, and your insurance company wants that positive step for you too.
What is Filing a claim?
Filing a claim is the step you follow in getting a payout from your insurance company when something bad happens.
These claims involve several things like paperwork, photos, damage appraisal, and sometimes legal action. If you notice that you are dealing with a corrupt insurance company contact the State insurance commissioner in your area.
These are not just ordinary or easy steps but the good news is that after all the processes of the claims, it all end with you getting the funds you need to cover home repairs, auto body work, or medical bills making you spending nothing by not footing the whole bill yourself.
You will definitely get multiple checks from your insurer as you embark on making temporary repairs, permanent repairs and replacing damaged asset.
The first thing to understand is that the claims process varies by insurance type, which could be Auto, home, life, health, etc.
But in this write-up we will be focusing on claims for homeowners insurance and auto insurance, this two are fairly similar when you look at basic procedures and structure contained in this insurance policy.
These are the three basic steps to filing an auto insurance claim or home insurance claim.
- The first thing to do when there is an incidence is to report the incident to your insurance provider. This step is where you officially “make a claim.”
- The insurance company will appoints a claims adjuster to evaluate your claim and tell you how much the insurance company will pay toward your claim.
- The insurance company will either send you a bank check through your designated mail or deposit the money into your bank account.
Please be informed that if you have not met your deductible (which is the exact amount you have to pay before your insurance company can agree to paying), this deductible will be removed from the claim money you are going to receive from your insurance company.
For example, let’s say your insurance company is paying $5,000 for your claim and you already have a deductible of $1,000, the total claim you will receive will be a shortfall of $1,000.
Auto Insurance Claims
Let’s assume you’re involved in an car accident, the first thing to do is to notify your insurance company of the incident so you could file for a claim.
But if the amount to repair the damages to your vehicle is less than your normal deductible, it will be wise to decide against filling for a claim. But if the damages exceed your deductible, then it will be appropriate that you go ahead in filling for a claim.
Immediately you file a claim, then you have started the “submission process.” A representative from your insurance company will ask you questions about the accident, which may include the name and driver’s license number of the other driver or drivers, the name of any witnesses and the police report number.
The next step will be the assigning of a claim number and a claims adjuster will be assigned to your claim. He or she will be the one to determine how much your insurance company will pay toward your claim if the claim was found genuine.
Home Insurance Claims
Immediately after a home accident you file a claim with your home insurance provider. A claim adjuster will usually visit your home and inspect the damage. Base on their findings, the adjuster will be the one to decide how much the insurance company will pay toward your claim.
Sometimes, you’ll get an advance payment against the total claim amount your provider is paying you. With this payment you can swiftly kick start the repairs to your home. This amount does not represent the total payment.
Sometimes you could be paid the lump sum of the claim and if you discover more damage in the future, then it’s very possible for you to reopen the claim and try to get approval for additional funds from your insurance company.
Another thing to note is that if both your home and your assets inside your home are damaged, then you will usually receive two separate checks — one will be for the house while the other will be for your belongings.
Please be informed that your claim adjuster will always ask necessary and detailed questions about your home insurance claim, such as the model number of an item or how much you paid for something that was damaged. That is why it’s quite necessary to keeping an up-to-date home inventory because this can help you answer these questions, speed up the claims process, and ensure you get the payment you deserve.
When picking an insurance company please be calm and make proper research about the insurance company before pumping your cash for their premium.
We still have good insurance companies out there and they surely pay you the right claim that you deserved.