Filing an insurance claim can be a daunting process, especially during a time when you’re already dealing with the stress and uncertainty of an unexpected event. Making mistakes during the claims process can result in delays, receiving less compensation than you deserve, or even denials. In this blog, we will discuss some of the most common mistakes people make when filing insurance claims and provide tips that we know from experience will help you navigate the process smoothly and get you the fair settlement that you deserve.
Delayed Reporting of the Claim
One of the biggest mistakes you can make is waiting too long to report an insurance claim. Most insurance policies typically have specific deadlines for reporting claims. In fact, the longer the reporting is delayed, the higher the risk of having the claim denied altogether. To avoid this, always contact your insurance provider as soon as possible after a loss occurs. Even if you are not yet sure whether to file a claim (if this is you check out our blog, When To File A Property Insurance Claim), you should still provide notice to your insurance company or agent about the loss. At the very least, this will fulfill your responsibility under the policy to provide prompt notice after a loss.
Not Properly Documenting Evidence
Many people overlook just how important complete and accurate documentation of the damages and losses is for their claim. After a loss (and after notifying your insurance company), take photos or videos of the affected areas, save any and all receipts for repairs or replacements, and keep a detailed inventory of damaged items. This evidence will serve as essential supporting documentation for your claim, helping you get your claim paid more quickly and more fairly.
Failing to Understand Policy Coverage
Before filing a claim, we recommend that you review your insurance policy to make sure you are covered for the recent loss you experienced. Being informed about your policy will help manage expectations, avoid unpleasant surprises and avoid unnecessary frustration during the claims process.
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Overlooking Additional Living Expenses
If your property becomes uninhabitable due to an event covered by your insurance – whether its due to fire, flood, or storm damage – you may need to find temporary accommodations. Forgetting to include these additional living expenses in your claim can leave thousands of dollars on the table, money that you would likely be due depending on your policy. Hiring an expert Contents Estimator will ensure that nothing gets left out and that you get the compensation you deserve.
Settling Too Quickly
Rushing to settle a claim is another common mistake that can have long-term consequences. Insurance claims can be complex, and it’s essential to take the time to assess the full extent of the damages and losses. Work with professionals such as public adjusters or contractors to ensure all damages are identified and properly evaluated. Settling too quickly may result in undervaluing your claim and receiving less compensation than you’re entitled to. Remember, if and when you sign a settlement release for a given claim, that is the end of the road for that claim.
Not Seeking Professional Guidance
It’s totally normal to be unfamiliar with the intricacies of your policy – even for the experts, it is pretty dry reading. This is why seeking professional guidance from public adjusters or property insurance attorneys can greatly benefit you. These professionals have the knowledge and experience to advocate for your rights and maximize your coverage. They can assist with documenting the damages, negotiating with the insurance company, and ensuring a fair settlement.
Poor Communication with the Insurance Company:
Many claimants make the mistake of providing incomplete or inaccurate information, which can lead to delays in payment or claim denials. Be prompt in responding to requests for documentation, maintain detailed records of all conversations, and keep copies of all correspondence. Stay proactive and engaged throughout the claims process, ensuring smooth communication and a better chance of a successful outcome.
Filing an insurance claim doesn’t have to be an overwhelming experience if you avoid these common mistakes. By promptly reporting the claim, documenting evidence thoroughly, understanding your policy coverage, and seeking professional guidance, you can navigate the process with confidence and maximize your coverage. Remember to communicate effectively with your insurance company and take the time to evaluate the full extent of the damages before settling. By following these expert tips, you can ensure a smoother claims process and obtain the compensation you deserve.
If you’re facing challenges with your insurance claim or want professional assistance, we are here to help you every step of the way. Remember, a well-prepared claim is a claim that stands a higher chance of success!
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