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Insurance Claim – What Are They?

Your insurance company provides you with this application so that you can claim benefits on your insurance policy whether it is life, car or health insurance. You must file a complaint before you can pay money to any affiliated service such as a hospital or a repair shop for your car. When insurance claims are filed, the company, based on their assessment of the situation, can pay the claim or not.

When you take out an insurance policy, you must continue making monthly payments to the insurance company. These are called prizes. In general, these rewards are used to increase the company’s available res or to liquidate another person’s credit. An accident can occasionally occur which can cause financial damage such as a tornado, a car accident or an accident at work. When this happens, the injured policyholder can file a compensation claim to receive money from that company.

When you file an insurance claim, you will have to submit it to a local agent who works for the company and is responsible for initiating the specific details of the claim. Then the agent negotiates the payment from the main insurance company. Many times an authority recognized as a repair shop, a building contractor or a doctor can present the necessary forms directly to the insurance company. If another party has agreed to pay their mistake out of their own pocket or the damage is minor, the contractor may not want to file an insurance claim.

Once a claim has been made, the insurance company usually has a non-biased appraiser or adjuster who assesses the damage and determines whether the repairer’s estimates obtained by the contractor are realistic. This can help prevent fraud by companies that inflate their estimates for additional compensation. Most insurance companies will accept the appraiser or adjuster’s assessment as a final word. Some insurance claims may not be paid for many reasons. Some of these reasons may include:

• The applicant’s prizes have not been paid every month and are late

• The policy may be inactive

• Another insurance company may have agreed to pay for the damages listed in the claim. This often happens in road accidents where one of the parties is held responsible for the accident.

• Failure to comply with the conditions covered because most insurance policies specify specific areas that can benefit from benefits

• If the claim for damage or accident was inevitably an “Act of God” or caused by negligence, the insurance company has the right to withhold payment.

The only way to officially claim benefits is to file a claim. Until the insurance company has assessed the claim, it will remain so and not a payment.

by Lora Davis

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