A person who filesinsurance claim is simply requesting benefits from his insurance policy. However, in order to receive those benefits, that insured person (the “insured”) must follow a claims process. On a home or auto insurance policy, the first step is to contact the insurance agent and fill out the claim form. After reporting the incident, the insured will need to speak with the claims adjuster will who confirm coverage, take statements, inspect damaged property, and prepare an estimate for repair. When everything has been verified, a check will be issued to the insured.
It is important to note that making two or three claims in a short period of time may result in a nonrenewal of the insurance policy. According to insurance broker Taree NSW, companies evaluate the “risk” they are taking by insuring an individual, and those that are poor risks are not usually renewed. To avoid making an unnecessary claim, the insured should confirm that the claim will exceed the amount of his deductible before reporting the claim.
For Australian businesses that have product liability insurance, it is extremely important to:
- Read the policy. The policy is a written contract between the insured and the insurance company. The insured should know what the policy says, including what is covered, what is excluded, and how much the deductible is. If an insured has questions about the policy, he should ask his insurance agent first before making a claim.
- Report the claim quickly. When a claim needs to be reported, an insured should contact his insurance agent as soon as possible. Doing so will speed the claims process and reduce the time required to receive payment.
- Locate insurance-friendly service providers. Use print and online resources such as Claims Pages to find repair facilities. They are used to working with insurance companies and can help with temporary repairs prior to adjuster contact.
Reporting an insurance claim right after a loss has occurred is the most effective way to protect your rights as a policyholder. The claim can be handled much faster if an insurance adjuster is allowed to investigate the circumstances and inspect the damage as soon as possible. In most cases, a claim should be reported within twenty-four hours to allow the adjuster to obtain statements and inspect damage before the opportunity to do so is no longer available. In reporting a claim, you should relay as much information as possible about damaged property, physical injuries and deaths. If the incident was investigated by law enforcement, make sure that you have the names, addresses and phone numbers of all individuals, including known and potential witnesses. In many cases, the official incident report may not be available for several days. Photos taken with a cell phone at the time of the loss can also be of value to support your claim.
Both before and after the claim has been reported, insurance broker Taree NSW advises to take necessary steps to protect your damaged property using insurance-friendly service providers found in print and online directories such as Claims Pages. Obtain multiple estimates for repair and/or replacement and keep a copy of any receipts for temporary repairs. This action will suggest to the claims adjuster that you are doing everything possible to mitigate your loss. Be ready to give a recorded statement over the phone to your insurance adjuster. This is usually within a few hours after reporting the claim. The questions vary according to the type of loss. An insurance claim can be a real pain in the neck. By assisting your claims adjuster, you can make the entire process flow more smoothly and reach a timely conclusion.