Working Through the Initial Stages of an Insurance Claim
Insurance claims cause tremendous stress and frustration. Imagine a flood destroying your home or a fire raging across your property. When you’re dealing with something like this, the last thing you need is a headache from your insurance company. Even if you are just dealing with your own insurance company, there are certain things you must do to make sure that the insurance company doesn’t weasel out of paying you what you’re doing.
Maintain a Regularly Updated Home Asset Database
When it comes to insurance claims, documentation and paperwork are a necessary evil. However, you will save yourself a tremendous headache if you have been maintaining a regularly updated asset protection software package or database. You can use Asset Panda’s free inventory software or one of the paid options at less than $5 a month to get started.
You will find a number of benefits from maintaining a good inventory. Demonstrating the validity of your claims to an insurance company is one of the biggest. When you suffer through a natural disaster or a thief breaks into your home, you often lose your possessions, and this means that you can’t show the possessions to the insurance company to prove their value. As a result, they’re not inclined to believe you. After all, insurance fraud is a big game in some places, and why should they believe that your precious collection is worth the maximum coverage rather than the minimum when you have no documentation? So use Asset Panda’s free inventory software to get your inventory set up today. The longer you document your household inventory, the better and more complete your records will be in the event of a claim.
Complete Your Documentation As Soon as Possible
Insurance companies can take what seems like forever when it comes to processing claims. However, you don’t want to wait on their request for information. As soon as you know that you’re going to be making an insurance claim, start gathering documentation. If you are keeping a home inventory, then you’ve already got a solid beginning. You can print off the reports straight from Asset Panda that relate to the damaged property to submit with your claim. You will also want to make sure that you get your own pictures of the damage caused if applicable. Record all the details that will go into deciding your case as clearly as you can. The longer you wait to complete this, the harder it will be to remember key details.
Keep a Log of All Your Contact with the Insurance Company
Even the best of insurance companies switches clients around. You might call in and talk to Janice one day, but when you call in a few days later, suddenly you’re talking to Bob and he doesn’t know anything about what Janice told you. In those moments, it can be difficult to keep straight who told you what and when.
To simplify this process and relieve that stress, then keep a regular log of all your contact. Your log should include the date, name of the person you spoke with, time, and a summary of what was discussed. Keep copies whenever you can, but remember that you may not be able to record the conversation if your state requires that both individuals be aware of the recording device. By having this log, you can then refer back to it when talking to a different representative. It is far more authoritative to say that you were told on April 12 at 3:42 pm that your claim would be covered than it is to just say that a couple weeks ago someone told you that you didn’t have to worry about your claim.