Posted by LD&B Insurance and Financial Services on
At LD&B, we take being here for you a step further than just being the hotline you can call. We act as your trusted advisor, not just on what kind of insurance you should consider purchasing, but how claims can affect your policies. We want you to have the information you need before the claimhappens. Read the article below for a few helpful tips on claims processing.
We are here for YOU
The most important thing to remember is that you aren’t alone in a claim situation. If you’re not sure whether you should file a claim, we can talk through the situation with you. Insurance companies factor your claims into your premium, and often deductibles are more than the claim, so it’s worthwhile to consider before filing.
As your trusted advisor, your account representative can help you understand policy provisions and definitions. For instance, the difference between water damage and flood can mean the difference between a check and a denied claim. Don’t hesitate to contact our office and ask questions!
Your carrier might need to hear your side of the story
In most cases, we can report your claim for you; but some insurance companies insist on hearing your side of the story. No matter what the situation, we will help you navigate the right procedure to report your claim to the insurance company.
Act promptly, wait patiently
The first rule of claims is prevent further damage, so make sure you and your family know what to do in an emergency! Call the police after a car accident or theft, have a plumber turn off the water when a pipe bursts, or cover a hole with a tarp to avoid rain damage.
Submit claims promptly. Your policy may have a condition set on how many days after the loss they must receive the claim. Don’t wait!
After you’ve submitted your claim, ask for a reasonable time to expect a response and wait patiently until then. Especially in the case of a major disaster or weather event, claims departments may be overwhelmed; it takes time to get to everyone.
Collect all the information you will need
From the moment the loss occurs until the claim is closed, make sure you keep your information organized!
Record the details of what happened, including date and time; other parties involved and their contact information; police report number; injuries sustained; and photos of damage.
Write down the adjustor’s information and any claim reps with whom you speak.
If you are injured, see your physician. The physician’s notes are another record of the claim situation.
Make sure you are covered
As Benjamin Franklin said, “An ounce of prevention is worth a pound of cure.” You can prevent a frustrating claims situation by taking steps to avoid losses, and in cases where you have no control, make sure your insurance is adequate. Often we make economical decisions when binding a policy, only to regret it later after a claim. Some examples include choosing to forego add-on endorsements such as gap insurance, towing service, rental car service, or stated value on an auto policy.
You can also help yourself by taking basic precautions. Lock your doors. Know where shutoffs are in your house. Also, always make sure damages are adequately repaired (for instance, a poorly handled water loss could turn into a much more expensive and dangerous mold situation). Keep inventory lists of important things, like cards in your wallet or purse and other valuable items in your home.
Remember, we want to protect you before the claim happens. Make sure you are prepared to respond to an emergency! If you have questions, talk to us today about your coverage. We are honored to be your trusted advisor.