Insurance Claim – What Are They?

Insurance Claim – What Are They?

Your insurance company provides this application to you so you

can apply for benefits on your insurance policy whether it is a

life, auto, or health insurance. You must file a claim before any

money can be paid to any contracted service like a hospital or

repair shop for your car. When you file insurance claims the

company, based on their evaluation of the situation, may pay the

claim or they may not.

When you take out an insurance policy, you must continue making

monthly payments to the insurance company. These are called

premiums. Generally, these premiums are used to increase the

available assets of the company or to settle another person’s

claim. Occasionally an accident will happen that can cause financial

damage like a tornado, automobile wreck, or work-related

accident. When this happens, the injured policyholder can file an

insurance claim to receive money from that company.

When filing an insurance claim you will file it with a local agent

that works for the company and they have the responsibility to

instigate the specific details of the claim. Then the agent

negotiates the payment from the main insurance company.

Many times a recognized authority such as a repair shop, building

contractor, or medical professional can file the necessary forms

with the insurance company directly. If another party has agreed

to pay for their mistake out-of-pocket or the damage is minor,

the policyholder may not want to file an insurance claim.

Once an insurance claim is filed the insurance company usually has an appraiser or adjustor without bias evaluate the damage and

determine if the estimates for repair the policy holder got are

realistic. This can help prevent fraud by companies who inflate

their estimates so they can get additional compensation. Most

insurance companies will accept the appraiser or adjustor’s

valuation as the last word. There are some insurance claims may

not be paid for many reasons. Some of these reasons can include:

• The claimant’s premiums have not been paid each month and

they are behind

• Policy may be inactive

• Another insurance company may have agreed to pay for the

damages that were listed in the insurance claim. This happens

often in car accidents where one of the parties is held responsible for the accident.

• Failure to not be under the conditions that are covered because

most insurance policies specify specific areas that qualify for

benefits

• If the damage or accident claim was an unavoidable “Act of

God” or caused by carelessness your insurance company has the

right to withhold payment.

The only way to apply officially for benefits is to file a claim.

Until your insurance company has assessed the claim, it will

remain as that and not a payout.

This article is penned by Lora Davis for Insurance Claim

Recovery Support. If you have claim property in Texas and need

the help of experienced insurance claims adjuster then look no

further than Insurance Claim Recovery Support. To speak with

the best Austin public adjuster call 855-203-2226 or

512-904-9900.