A claim is regarded as a financial contract between you and your insurer or a formal request to your insurer for reimbursement against a loss that is covered under your insurance policy. The insurance company has to cover losses incurred by the client. Authentic reviews on companies offering the best insurances are found in Reviews Bird and you won’t worry of insurance cases if they arise.
An insurance company can refuse to pay your claim because of various reasons such as not paying some of the installments of your premium, not following the claims process correctly, your policy was not yet in force when you made a claim, or the item under claim is not covered in your policy. When you are sure that you are on the right track, you should go ahead with the claim.
Below are some of the things you can do in case your insurance company refuses to pay your claim:
Make Use of The State Regulator.
Taking the concerned insurance company to court should be the last option. This is because court cases can tie up a claim for many years, which will delay getting the needed funds to recover from a loss. Therefore, your first step should be to attempt to work directly with your insurer or your insurance agent to follow up on the claim. You are required to be patient and calm while documenting the whole procedure. The state regulator’s role is to license, regulate insurance companies and any individual involved in insurance industry. It also preserves and monitors the financial solvency of insurance companies. They control market conduct and prevent unlawful trade practices. Once you report your issues to them, they will definitely help you get justice.
Be Aware of Your Rights and Insurance Policy.
You should thoroughly review a new insurance policy or even an existing one to get the best insight into all that is anticipated when an individual makes a claim. It would be best to look at what needs to be done to file a claim, information on what is covered, how fast a claim should be submitted and how the reimbursement is calculated.
Avoid Assumptions That the First Denial You Get Is Final.
Around 60 percent of insurance claims are denied unjustly. Less than 1 percent of people making claims question their insurer when a claim is rejected. Many of the policyholders who speak up for themselves either improve their settlements or win their cases.
Demand for An Explanation for Their Refusal.
Insurance companies are quick to give support to their policyholder. A good example is the car insurance sector. The insurance company you had an agreement with to ensure your car can tell you they will not take a look at your vehicle unless they get to hear about the other side of the story through the other driver involved in the accident. Contact them if you have enough evidence to prove that you are not at fault and the insurance company still denies your claim. Please provide them with all the evidence you have, such as police reports, eyewitnesses that can prove your_ innocence and recorded statements.
Make Sure to Contact the Company Directly.
If your claim is not attended to within 30 days by your insurance agent, contact the insurance company directly through calls. Ensure you are polite but tenacious and keep climbing the corporate ladder. Keep a record of all the phone calls, including the names and positions of all the people you speak to. After each call, send a letter stating your understanding and request a response to be shipped within 30 days.
Contact Them Through Writing If Calls Do Not Go Through.
The best place to start is with the individual who denied your claim. Then write to that person’s supervisor. Insert relevant details such as your policy number, copies of bills, appropriate forms, supporting documents and a concise description of your problem. Request a written response from your insurer within three weeks. You should keep copies of all correspondence. Your letters should be sent by registered mail. While writing to them, avoid blaming statements and being rude. If there is no response, send follow-up letters attaching your original letter to the insurer’s customer service department or consumer complaints department. In most cases, failure to immediately respond to letters is among the unfair insurance practices.
Always follow up on a rejected claim and be inquisitive. If you do not, you might be letting the insurance company get away with an unjustly denied claim.