How To Go About Reporting Your Insurance Claim

Are you aware that insurance firms pay over $150 billion annually in claims from policyholders. These claims originate from losses suffered throughout hurricanes, fires, auto accidents, robbers among other traumatic circumstances.

Recognizing what to do whenever you have a claim can help you maximize your insurance dollars. If you’re wondering how to report an insurance claim of whatever kind, here’s what you should do.

Reporting a Homeowners Claim

If someone sustains an injury on your property or if a natural disaster strikes your home, you’ll need to report a claim with your insurance firm.

Bear in mind that a homeowners policy is an agreement between you and your insurance provider. Consequently, there are rules and guidelines that you and the insurer must follow. Make sure you read the policy to establish your responsibilities. Here are the steps you should take when filing this claim.

Report Any Crime to the Law Enforcement

If you’re a victim of theft, burglary, or vandalism, it’s vital you report the matter to the police. Obtain a police report and note the names of every officer with whom you’ve spoken.

Contact Your Company or Agent Immediately

Insurance policies typically have a limit when it comes to reporting claims. Therefore, it’s imperative you establish the time limit. Make sure you ask questions during your communication.

This way, you’ll know whether you’re covered, the time it will take to process your claim, and whether your claim surpasses your deductible. You’ll also need to establish whether you’ll need to acquire estimates for repairing structural damage.

Temporary Repairs

Ensure you take reasonable measures to protect your property against further damage. It’s  also important you save receipts for your expenses and present them to your insurance firm for reimbursement.

Document Damaged or Lost Items

You’ll need to prove your loss, so don’t throw out damaged stuff until the adjuster visits your home. Additionally, you should consider videotaping or photographing the damage.

Make sure you have a home inventory and make a copy for the adjuster who should also obtain copies of receipts from damaged belongings.

Maintain Receipts if You Must Relocate

If your home reveals severe damage and you must locate other accommodations while repairs are taking place, maintain records of every extra expense incurred. You’ll discover that most homeowners policies offer coverage for the “loss of use” of your dwelling.

Obtain Claim Forms

Once your insurance firm receives information concerning your claim, it’s required to send the essential claim forms to you by a specified time. You should note that the period differs across states and you must return the properly filled forms as soon as possible to prevent delays.

Inspection by Adjuster

Your insurance firm will most likely arrange for an adjuster to inspect your home.

Once you and your insurance firm agree on the settlement terms, state laws stipulate that you receive payment promptly. In most instances, the claim process will be fast. If you have queries concerning the laws on filing claims in your state, contact your insurance agent or the state department of insurance.

Reporting Auto Insurance Claims

Recognizing the steps to take following a vehicle accident will help decrease the anxiety surrounding the accident and avoid time-consuming and costly mistakes. Here’s what to do:

Contact Your Insurance Agent or Company Representative

Do this as soon as possible even if another party is responsible or you’re far from home. Find out from your agent how to proceed and what documents or forms will help support your claim

Hire a Body Shop

The vehicle body shop should offer guarantees and precise timelines on repairs. Your policy has certain deductibles and limits, so establish settlement amounts before signing off on repair expenses.

If you’re unsure about where to take the vehicle for repair, most insurance firms will offer a list of shops backed by labor and repair guarantees.

Provide the Information Required by Your Insurer

Cooperate with the insurance company in its settlement, investigation, or defense of the claim. Make sure you submit copies of any legal papers you obtain in association with your loss.

Maintain Records of Your Costs

Your policy may reimburse the expenses you incur because of a vehicle accident. Your insurer will typically pay your hospital and medical expenses.

Maintain Copies of Your Paper Work

Keep copies of every paper work in your files because you may need to refer to them later.

Discuss with an adjuster or your agent if you’re dissatisfied.

If this is the case, examine your policy to establish the outlined settlement steps.

Final Thoughts

Recognizing the measures to take when reporting an insurance claim can help you avoid some of the frustration involved in handling the process. You’ll also obtain better value for your insurance money.

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