The Right Way to File an Insurance Claim

By Bogdan Moisa

After years of paying for a policy, there comes a time when you have to cash it. It is not a happy situation, since most of the time claiming a benefit means that something bad has happened. Unfortunately, many people don't know the right way to file a claim and they suffer financial harm.

Be the first!

Making an agency pay up shouldn't be difficult, but any insurer will try to find one way or another to deny you coverage. However, you shouldn't be intimidated! You have all the right to get your benefit. This is why you should take the initiative and ask for your money as soon as it is possible.

Stay informed and document every move!

An insurance policy is a contract. Everything written in your policy has to be respected. It is important to know what you are covered against and other special clauses. In order for you claim to have a higher authority, write down any detail about the accident and the damages suffered. In the case of auto insurance, you may need witnesses to prove that you were involved in a road accident. If your home suffered damage, keep receipts of every repair you made and a detailed record of all your goods, so that you know what is damaged or lost.

Filing too many claims is expensive

You don't buy insurance so that you can repair your house and home for free after every minor accident. Filing too many small claims will rise your rates up. Instead, you should aim for the big payout, and only if your goods have suffered extensive damage which you can't cover. If you get your car scratched, it is wiser to pay for the repair out of your own pocket.

Problems that may occur

In most cases, the agency will delay paying the benefit as much as they can. This is a way of giving them time to investigate on their own the truth of your claim. One or two weeks is pretty normal, but if you haven't received your money for over a month, you should take action!

In the case of life insurance, if the insured lied on his or her application and the agency proved this, they can refuse to pay the entire death benefit.

If you have missed one or two payments, you should cover all unpaid premiums before claiming a file. Most companies honor claims as long as the premiums have been paid up to a certain date.