Although accidents are rare, they are a part of the game, which is why we have insurance. Whether it’s a burglary on a night you weren’t at home, a sudden illness, or a random accident that has damaged your new car, you should always be ready to file your claim. But how to maximize the chances of getting that claim approved? There are many factors to achieve that end, depending on the type of insurance you’re filing for.
Let’s shed some light on that.
Home insurance claims
Your claim may get rejected because of numerous factors, like not disclosing all the information to your insurer and more. So, you shouldn’t take any risk while renewing your existing policy or applying for a new one. Although we all hope nothing’s going to get awry, we can’t guarantee that, can we? Just follow the suggestions given below and stay as transparent as possible.
Don’t hide anything from your insurer
Try never to leave out vital information about your property like any existing damage that you happen to know of or about any claims you made in the past. Not disclosing such details can delay, or completely mess up your claim, in case things get topsy-turvy.
Inform your insurer about any prolonged vacancies
If you’re going to leave your property unattended for a long time, you should inform your insurer about it. This will help legitimize your claim, in case something happens to your property at the time you were away plus most property policies automatically eliminate or reduce coverages whenever a property is vacant for a certain period of time.
Work on home security systems
Burglar alarm, composite doors, security cameras or anything that comes to your mind while talking about security, don’t wait for a suitable time; just install it. It will help you meet the basic security requirements for your property insurance claim to be accepted fast and seamlessly. If you have doubts, call your insurer to clear them up.
Store the proofs of ownership for valuable items
Does your property and content insurance cover all your valuable items? You should keep the proofs of ownership of those items to increase your chances of getting your claim approved, in case anything goes missing. Store the receipts, take photos and do whatever you deem necessary to prove that those items are yours.
Report any theft to the police
Yes! You’re will need a copy of that report while claiming the insurance money. With a well-documented police report for burglary, your claim stands a higher chance of getting approved.
Auto insurance claims
If you’ve had an accident, many things follow, and you may not be able to keep your head straight at the moment. However, you should stay as calm as possible and call your insurer as soon as possible. Yes, that and get to a clinic if you’re injured. Keep the following things in mind though.
Submit the documents in time
No matter how bad the accident, you must ensure you submit the insurance documents in time to file for a claim. And the sooner you do so, the better chances you have at getting that claim approved. If you’re injured, ask your insurer to meet you at the hospital and ask someone to fetch all the documents fast.
Contact the eyewitnesses
The statements of eyewitnesses matter quite a lot during the insurance settlement process. You should find out who was there at the time of the accident, jot their details down and contact them individually. Photos of the accident scene and the damaged car also act as valid proof in increasing your chances of claim approval.
Inform the police
Again, informing the police is vital in case of an accident with major damage. It will be their job then to gather all the necessary information about the accident and the eyewitnesses, which will be useful to you while making the insurance claim. Oh! And make sure you get the officers’ contact details.
Business insurance claims
Some business insurance policies can be quite hard to comprehend, and you may be bewildered when a certain claim doesn’t get approved. Therefore, it’s necessary to understand your insurance policy well, know the exclusions as well as the inclusions in the coverage and talk to your insurer to address all your queries while there’s still the time.
You should also make a note of the following to increase the chances of your claim getting approved fast.
Keep records of physical damages
The physical damages to your workspace are fairly easier to prove than other indirect, catastrophes that may affect your business. Take photos and videos of the damages and inform the authorities about the same. If there’s a massive disaster involving injuries, or even worse, death, you should call the authorities immediately and seek medical attention for the injured people. Being proactive will help your situation greatly.
Mitigate further risks
After documenting the damages, you should take every step necessary to protect your business from further losses of the same kind. It may be mentioned in your policy that your insurer may not cover for similar damages in the future, so you have to be careful.
Review your insurance policy
To get your claims approved faster, you should know what exactly your policy covers and what it doesn’t. Go through the policy every time you renew it, or during the time of loss, so that you can file the right claim that can get approved faster.
Wrapping it up
Getting your insurance claims approved can prove tricky in some cases. Many insurance companies reject the claims made by their policyholders based on legit grounds. But if you know your policies well, the chances are, you won’t suffer the same fate. So, talk to your insurer before filing the claim, read all the documents carefully, provide as much evidence as necessary and keep your fingers crossed.