Crucial Tips To Have When Applying for Insurance Claims

Friday, November 16, 2018, 6:00 PM | Leave Comment

Applying for an insurance claim is not always a complicated process. It can, however, be a tricky and complicated one if you have no clue about what to do to have a successful application.

If everything goes well, then you can have a simple and stress-free process. However, this is not always the case for most individuals looking to apply for insurance claims.

The main reason behind their failures usually lies in their ignorance and inability to successfully follow all the steps required to have a successful process.

Talking to reliable insurance experts like Korean Public Adjuster will provide you with the necessary information that you need before making any insurance claims.

This article aims to take you through some of the crucial tips you must know before heading out to apply for an insurance claim. Your chances of being successful will improve significantly if you follow and stick to these steps. So, keep reading and be able to insure your car, home successfully, or even travel.

Crucial Tips To Have When Applying for Insurance Claims

  1. Be prepared

    Applying for, and having an insurance claim involves a lot of responsibilities. So, you need to be properly prepared to handle everything else that comes after you successfully make your insurance claim application. How do you get prepared? You might ask. Well, here are some simple steps you can follow to get ready enough for the application process.

  2. Report it

    This is the very first thing you need to do to improve your chances of getting compensation. If you are making an application claim for an item that has been vandalized or stolen, ensure you report the incident to the police first. Do this before doing anything else as most policies usually have time limits within which you should report. So, to avoid being cut out by the time limitations, report immediately.

  3. Check your policy

    After reporting the incident, your next step is to check if your policy covers whatever happened. If so, you then need to check whether there is a specific procedure that you need to follow to apply for your insurance claim.

    Yes! Different policies tend to have different recovery procedures. So, do not assume that one insurance policy is similar to the other, you may end up being the one who taints your chances of having a successful claim.

    At other times, the insurance companies are the ones who offer to do everything and make arrangements for you. But even so, you also need to check up and see how the whole process is going.

  4. Get your documents together

    No doubt you will be required to provide some documentation about your identity, your policy, and even proof of ownership of the item for which you are claiming compensation. Here are some of the documents you should be prepared to avail if needed:

    • Receipts of the stolen or damaged item

    • Reference numbers from police reports for example

    • Your policy documents

    Without these documents, the chances of having a successful insurance claim dwindle drastically.

  5. Stay calm

    Do not get worked out about what has just happened, whether a valuable item has been lost, stolen, or damaged. Instead, try to stay calm and assess the situation. You will not make any reasonable progress if you stress yourself over the issue.

    This is also the perfect time to assess the extent of damages that may have been caused by the incident. If the item is damaged, then it is also wise to take photos of the item. You may be required to provide this later as you file for your insurance claim.

  6. Get your facts right

    You should also be prepared to answer many different questions relating to your policy and your lost or damaged item/s. Remember, to speed up the process; you will have to be truthful when answering all the questions. This will make the processing of your claim be a lot faster as everything will check out.

    So, try as much as you can to be clear and consistent when explaining what happened. Do not leave out any crucial details or exaggerate the incident in the hope of getting more compensation.

    If possible, write down everything at the scene or the moment you realize your covered item is missing. This way, you will not have to stress about remembering what happened during the time of the incident. You will be asked about:

    • Times and dates

    • What happened during those times

    • The initial price of what you are claiming for

    • What you expect or intend to get

    • Details of everyone involved – if there were other parties involved

  7. Document the claims process

    This is more of a protective measure on your part. Think of it as taking precaution. You never know how things might turn regarding your claim. So, ensure you also keep records and documentation on every time you communicate with your insurance company.

    Ensure that you note down the dates and times you meet with any insurance company representatives and if possible, even get the names of the agents and what was said. You also want to keep any letters you receive from your insurance company and make copies of the letters you send to them. This will help protect you from having to deal with “who said what to who and when” when things start to get nasty with the claim.

Rejected claim

If you do your research, you find that the number of claims that get rejected is far more than the number that ends up successful. The chances are that your claim may also end up being rejected. However, this should be no cause for alarm especially if you are sure that your insurance claim is valid and you have the facts to prove it.

Check your insurance policy documents and ensure you had all the correct details, to begin with. You also want to check the wording in your policy touching on the lost, stolen, or damaged item. If possible, note the policy down, you will need it later.

Final thoughts

Applying for an insurance claim is usually a simple and easy process. But it can also be difficult and stressful. The result will be how you handle the whole process. You want to get compensated for being within your insurance policy contract. Work to ensure you have all things covered to have a successful insurance claim process.

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