Processing Insurance Claims

When a loss occurs the insured expects his insurer to know that a loss has occurred and pay immediately without necessarily presenting any evidence or documents. At many times, people buy insurance policies but do not take their time to go through the content of the policy.

Experts advise that the insured should always read agreements in policies when taking one, so as to enable him understand the terms and conditions involved, and also the need for regular payment of premium to avoid a breach of contract that could lead to a situation of non-payments of claims.

In as much as the duty of the insurer to the insured is to restore him back to the former position, by paying his claims, claimants need to follow the necessary procedure to get faster relief.

According to the principle of insurance the insured is to be adequately compensated for the loss he suffered but not to make a profit from the loss. There is need for the insured to inform the insurer about any change attached to his policy like, a change of address or any other necessary information. The insurer says that although insurance helps to restore losses, the insured should also exercise caution. When a large claim is involved, a loss adjuster may be employed in the verification process to ascertain the extent of damage and how much to pay.

The insurer says that immediately a loss occurs, the insured should notify his insurer and get instructions on what next to do.

According to the insurer, to commence claims settlement, the claimant will have to fill a claims form. If he cannot do that himself he should ask his insurance broker to put him through.

For instance a person who has a motor accident with damage on his car he should report to his insurer promptly. The claimant should obtain an estimate repair from his garage operative. Once an estimate is obtained an engineer will be sent to attest and agree with the garage, and there after agree on the amount to be settled.

Where the insured fails to prove his losses or does not supply the necessary documents to support and backup claims, then, it becomes difficult for the insurer to pay.

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