It has become very common that any insurance claim is under- paid. Almost all the insurers are not willing to make a settlement in full or at least to the actual level of loss. Motivated by profits, the insurance people are trying to find every nook and corner to reject a claim. When an insured property is suffering a loss, a claim has to be lodged by the policy holder. The damaged property is then inspected and investigated by insurance company to arrive at the actual loss. A comparison is made with the submitted claim and if they match, the claim is settled or else, the loss estimated by the company is partially settled. For getting the complete benefits of insurance, an insured must take few essential steps.
Reading the insurance documents is very essential. Only after a loss, the insured cares about the coverage of his insurance policy. This is a wrong practice. Documents are to be reviewed as soon as deciding on a particular policy. One must understand the risks being covered under the policy taken which covers many aspects thus helping the owner to calculate the claim accurately at the time of loss. If this is found difficult, the policy holders shall seek the help of professionals. Reviews must be periodically done. If the property is under- insured or if his insurance policy does not cover essential things, a new policy shall be taken as per the needs.
Photos and Videos
For example, if there is damage in wall or ceiling, there is a possibility that the claim gets rejected stating that the damage is due to some wear and tear and that does not come under the policy. Such situations are very difficult to be proved. Taking regular photographs or videos of the entire property would help us under such circumstances. These photos and videos are the evidence of how the property looks before and after an accident. The insured must constantly keep track of all records of the property. The value of the property, its life and original cost must be well ascertained before a claim.
Do not delay essential repairs
Immediate and temporary repairs must not be delayed too long. An insurance adjuster might take a longer time to value the damage. But some of the minor repair works like fixing up the leaking roof or broken windows must be done as early as possible. These are the things that need no explanation and any insurer can never deny these claims. Delay in such issues might cause severe damages to the property succumbing loss to the owner.
Find the right cause
There is a general assumption among people that if the insurance company initially rejects their claim, there is no further scope for them. A particular loss which might not be covered in one situation shall be covered in other situations. For example, an ordinary mold might not be covered under the insurance policy while a mold caused by water leakage might be covered. Thus the actual cause has to be carefully analyzed. An insured must always fight for his rights till he gets the complete claim.