Everything seemed pretty simple when you purchased that
insurance policy. If you have a loss, just tell the insurance
company about it and you will get paid - Right? Well.... it may
not be quite that easy. There are some basic steps you should
follow to make sure your insurance claim is paid quickly and
fully.
Prepare - in advance. The single most important
thing that will make your life easier in the event of a loss is
to be well prepared in advance. Do you have offsite copies of
your computer files? What about paper files? If this is some
kind of property loss, you will need to document the value. If
you have to try to reconstruct records that were destroyed, it
will delay your insurance payment and make it much harder for
you to prove the value of your loss.
Estimate your loss.
While it may not be possible to know the full extent of the
loss, develop an estimate. If it is close to or below your
deductible, you are probably better off not filing the insurance
claim. Your rates will be based in part on your claims history
so there is no advantage to you in filing a claim you will end
up paying for out of your own pocket. Be careful, however, as
most insurance policies require you to report a loss within a
certain timeframe, usually 2 - 4 weeks.
Call your agent.
Many insurance companies ask that you report your claim directly
to the claims department. This is more efficient for them but
not necessarily better for you. Your insurance agent may
represent the company but his income depends on keeping his
customers happy. Independent agents, in particular, are small
business owners and owe their primary loyalty to their business.
If you're a small business owner, your insurance agent
understands that his business depends on keeping his customers
happy.
Keep in touch with the adjuster. Ultimately the
insurance company will assign an adjuster to work with you to
estimate and pay the loss. Work closely with the adjuster and
respond quickly and completely to his requests for information.
The easier you make his job, the quicker you will get paid.
Consider an independent adjuster. If your loss is large and
complex, it may pay you to hire an independent adjuster to work
on your behalf. If you do decide to take this step, make sure
you hire an adjuster who has experience with your type of
business loss.
About the Author:
Lana Hampton makes it easy to find the insurance right for your
needs. Visit
http://www.yowsinsurance.com today for the latest insurance
news and information.
