Navigating the world of insurance policies can be an intimidating endeavor for families, couples, and parents alike. While it’s important to have the right coverage in place to protect your hard-earned assets, what do you do once that coverage is in place?
Before we go any further, here is the bottom-line up front. Walls Insurance Agency wants you to know that claims are the most important thing about insurance and as your agency we will help you all the way through the claims process. It should not be a mystery to file a claim or how to navigate through a claim when you need to file one.
Understanding how to properly file an insurance claim should not only help you understand the process but could also save you time and money in the long run. In this blog post we’ll take a look at everything policyholders need to know about making insurance claims so they can feel like experts when filing one!
Understand the different types of insurance claims and what they cover
Insurance claims can feel overwhelming and confusing, but taking the time to understand the different types of claims can make all the difference. Understanding the different types of insurance claims, such as liability claims, property claims, and personal injury claims, can help you know what type of coverage you have and what situations are covered. Liability claims generally cover damages to others that are caused by you or your property, while property claims cover damage or losses to your property. Personal injury claims cover bodily injury or illness caused by an accident or incident. Knowing the ins and outs of each type of claim can help you feel more confident and prepared should the need for a claim arise. As insurance experts, Walls Insurance Agency agents are here to explain the different coverages and what this all really means. Don’t be afraid or ashamed to ask for clarification.
Learn how to file an insurance claim and what documents are required
Filing an insurance claim can be a daunting task, especially if you’ve never done it before. However, understanding the process and the necessary documentation can make the process much smoother. Firstly, you’ll need to inform your insurance company about the incident and provide details about the incident. Be prepared to provide your policy number, a description of the event, and the date and time it occurred. Secondly, make sure you have all the required supporting documents such as police reports, medical bills, receipts, and photographs. Having these documents handy will help speed up the claims process. Remember, filing an insurance claim requires patience and attention to detail. Keep in mind that your insurance company is there to help you during difficult times. Walls Insurance Agency agents are not insurance company adjusters; however, we’ve seen a thing or two. In the era of iPhones ~ Smartphone, taking photos, and videos has made the claims process easier. We suggest using your phone camera to document and record the initial impacts related to a claim and then jot down notes to help keep your memory fresh. A claims adjuster will ask several questions to help establish vital information. We suggest using every tool readily available to help keep events documented for your best interests.
Research the best coverage for your policyholder needs
Researching the best coverage for your policyholder needs can be a daunting task, but it’s also a crucial one. With so many insurance options available, it’s important to do your due diligence and ensure that you’re getting the coverage that’s right for you. Whether you’re looking for homeowners’ insurance, car insurance, or something else altogether, there are a few key things to keep in mind. Make sure to consider your budget, your specific needs and risks, and the reputation of the insurance provider you’re considering. By taking the time to research and compare different options, you can feel confident that you’re making an informed decision that will keep you and your loved ones protected. Walls Insurance Agency agents have over 180 years combined experience in the insurance industry. We’ve built a rapport with our customers and always look to provide insurance to fit the customer; we will not try to oversell or encourage our client to take on policy endorsements that break their budget. Steer clear of agents that over inflate values; they could be doing this to inflate their paycheck. Ask – until you fully understand – how your claim will pay out. Is the policy paying out at a “replacement cost value” (RCV), actual cash value (ACV) or agreed upon value (AUV)?
Be aware of common scams related to insurance claims
Insurance claims can be complicated and stressful enough without having to deal with scams. Unfortunately, fraudulent insurance claims are becoming more and more common, which is why it’s important to be aware of them. Scammers can pose as insurance agents or adjusters and offer false or exaggerated claims in exchange for personal information or money. Others may convince you to sign over your insurance claim to them, only to disappear with the money. To avoid these scams, it’s important to always verify the legitimacy of the company or agent you are working with, and never provide personal information or money unless you are certain it is trustworthy. By staying vigilant and informed, you can protect yourself and your assets from these dishonest schemes. Again, if you get Walls Insurance Agency agents involved in your claims process, we will link you up with the claims adjuster. We will attain a name and claim number. We can periodically go directly to the company and validate the status of the claim for you. Having us as your trusted agent will vastly decrease your chances of ever being scammed by an unknown entity.
Find out if you need to hire a lawyer when filing a claim
Filing a claim can be a complicated process, especially when you’re dealing with legal matters. It’s important to know when hiring a lawyer is necessary to ensure that your rights are protected throughout the entire process. While some claims can be handled without legal representation, others require the expertise and guidance of a skilled attorney. It’s crucial to consider the complexity of your case, the potential for settlement or trial, and the severity of the damages you’re claiming. Ultimately, it’s best to consult with a lawyer to determine the best course of action for your specific situation. By doing so, you can approach your claim with confidence and maximize your chances of success. Walls Insurance Agency only works with AM Best “A rated” insurance companies. Our agency is also monitored by the Virginia and North Carolina Bureaus of Insurance. Most policies have legal representation expense or legal representation coverage (also referred to as Bonds) included with the principal policy coverages. That legal representation is primarily for the client and is also for your insurance company to help defend the attributes of your policy when there is a dispute. Ask your Walls Insurance Agency agent to explain how this works and use that conversation to better understand how to decide when you should hire a lawyer to remedy an insurance claim outcome. As agents we cannot provide legal advice, but we’ll do our utmost to explain the policy that you have trusted us to provide you.
Know how insurance companies handle claims disputes
When it comes to filing an insurance claim, the process can be long and complicated, and sometimes disputes arise. It’s important to understand how insurance companies handle these disputes, as it can greatly impact your ability to receive compensation. In general, most insurance companies have a claims resolution process in place. This may involve an internal review, in which the insurance company investigates the dispute and makes a determination. If this doesn’t resolve the issue, mediation or arbitration may be necessary. It’s worth noting that insurance companies are usually hesitant to enter into litigation, as it can be expensive and time-consuming. Ultimately, the key to resolving a dispute with an insurance company is to remain calm, document everything, and seek help from a qualified professional if necessary. Again, our agency has over 180 years of combined experience and we’ve seen some disputes. When these occur, we’re mostly “Switzerland”; we must remain neutral to the process. However, we will advocate as needed and whenever possible; provide information to the extent that we will not violate a law or order.
In the end, no one wants to ever have to use insurance. However, having the right knowledge and being prepared to file an insurance claim should something happen can bring peace of mind. Understanding different types of claims and what they cover, knowing how to file a claim and which documents are necessary, researching the best coverage for policyholders’ needs, avoiding common scams related to insurance claims, possibly needing a lawyer for more difficult cases, or knowing how insurance companies handle disputes will all help in case something unexpected happens. Don’t wait until it’s too late – contact Walls Insurance Agency today to learn more about creating a plan that will make your life easier if you ever need to file an insurance claim and to learn more about insurance policies.
