What Is The Insurance Claim Process

Insurance is a handy thing to have. Seeing as how you pay so much for your home, its contents, your vehicle, and any other thing that you insure, it is nice to have it covered for financial reasons. Even having medical insurance and life insurance is quite helpful in many different situations. When it comes time to use your insurance, however, many times you must file a claim. Before doing so it can be advantageous to know more about the insurance claim process. Continue reading to learn what is involved and how to be successful when you are going through the process to file an insurance claim.

Just a little side note. If you were injured and it was someone else’s fault, you must notify them and tell them you intend to file a claim. This will help make the insurance claim process as quick and as easy as possible.

The first thing that you need to do is file a claim with your insurance company. If you are not sure who to contact to do this, contact your insurance agent or his or her representative and they will lead you in the right direction. Once you file the claim, you will get a claim number that will allow you to track the claim.

After that, the damages will need to be investigated. Either the insurance company will send someone to you or they will have you go to a specific location to have the damages look at. Many times, a professional will need to investigate the loss and the details pertaining to it. They will assess what needs to be replaced or repaired and then give you an estimate as to what the damages are.

Once you have the estimate, you can review it. This allows you to look over what damages were found. Also, the claims adjustor will look at the estimate and then discuss your settlement. The settlement will be based on your policy’s coverage, terms, and provisions.

Next, the damages will be repaired. Depending on the reason you filed the insurance claim, you will then have the damage replaced or repaired. For instance, if you were in a car accident or your house was damaged due to a storm, the damages will be taken care of however the insurance company chooses to take care of it. If they leave the decision to you, then you will choose a reputable company to take care of it.

Then, the insurance company will pay for the repairs, which is typically called settling the claim. The insurance company will either give you a check to pay for the repairs or replacement, or they will pay the company that performed the job directly.

In conclusion, when you know what the insurance claim process consists of, you will be better able to deal with it. The process all starts with filing a claim and it ends with settling a claim. The more active you are in the process, the quicker it will be taken care of.

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