Filing an insurance claim is not as simple as one might think. There are several loopholes that often go unnoticed until it’s too late. In this article, we will tell you about some essential secrets of filing an insurance claim.
An adjuster is not your friend:
When you file an insurance claim for a loss that you are suffering from, you are contacted by an adjuster who represents the insurance company. You should always remember that the adjuster works for the company and not for you and his/her priority is to minimize the amount of compensation you will receive. So, no matter how caring an adjuster seems like, their interests lie with the insurance company and not you. One of the primary things to remember is to not provide any recorded statement to the adjuster during your conversation with them. For it can be used to damage the value of your claim.
Hiring a lawyer does not mean getting less compensation:
Most people seem to think that hiring a legal attorney is a hassle and would only amount to them paying a large amount of money as fees to the attorney. And insurance companies don’t miss out on the chance to reinforce the same to you. For them, it is best if you handle a claim settlement yourself without having an attorney assisting you. But this is far from the truth. Hiring an attorney not only makes claim settlement a less complicated process but also helps you realize just how much compensation you should ideally receive. If your claim is a large one, it is all the more reason to hire an attorney. Insurance companies try their best to minimize the compensation amount but having legal aid will help avoid them from doing so.
Preparation is key:
If you choose to handle a claim on your own without any legal assistance, it is important to be fully prepared for it. In the case of medical injuries, having copies of all medical records as well as prescriptions is essential. While in case of property loss, it is essential for you to carefully document all the damages that you have suffered which will later be used as evidence. Photographs and support from witnesses will come in handy at this juncture. As a claimant, you should be aware of all the coverages within the scope of your insurance policy. It often happens that insurance companies tell you what a policy would cover but not what it does not cover.
Be honest and careful about every single detail:
In the case of a claim related to personal injury, being honest about your medical situation is crucial. Even if an injury seems minor or hurts less, it is still necessary to make the doctor aware of it and let it reflect on your medical records. This does not mean exaggerating every little injury but downplaying anything doesn’t help either. Injuries may worsen in severity with time and if your medical records do not show consistency with your situation, it will not go well for you in court. Documenting every detail will help make a stronger claim for you and will help you receive the compensation amount you deserve.
Always negotiate for bills and do not rush a claim:
Often it might happen that a policyholder would be in dire need of money in order to pay outstanding bills. This situation leads to them rushing a claim and receiving an amount much lower than what they should’ve ideally received. Having legal aid at this stage helps as it allows you to negotiate with medical providers to delay payments until your claim is settled. An attorney would guide you with negotiating for a compensation amount that you deserve while keeping in mind the statute of limitations, i.e the deadline for payments.
Insurance companies are there to help you in times of difficulties but just like everyone else, they too aim for profit. And they will not always disclose hidden terms and conditions. It is, therefore, your responsibility to be aware of every possible detail. With these pointers in mind, we hope you are in a much more informed position than before when it comes to filing an insurance claim.