FAQ

How to make a claim to insurance company

There you were, minding your own business, and then wham!

An emotionally compromised teen was texting his best friend while driving, ran a red light and crashed into her car. a thief broke into your apartment while you were on vacation and stole a bunch of your stuff. your washing machine broke down and flooded your living room.

Reading: How to make a claim to insurance company

Whatever the case, it’s never fun when murphy’s law rears its ugly head and wreaks havoc with a bunch of dollar signs attached.

But that’s what insurance is for, and having the right kinds of insurance protects you from financial ruin after the unthinkable happens. And depending on the type of damage you’re facing, filing an insurance claim could help alleviate some of the financial stress.

what is an insurance claim?

When you file an insurance claim, you are making a formal request to your insurance company for money to help pay for repairs and other expenses caused by a policy event (such as a car accident or car theft). home) that is covered by your insurance.

After submitting all the paperwork, the insurance company usually sends an insurance adjuster to investigate what happened. and then, if the claim is validated and approved, you will receive a check in the mail to cover your losses.

According to the Insurance Information Institute, approximately one in 20 insured homeowners files a claim each year.1 And as Americans drive more each year, auto insurance claims strong> are also increasing, approximately 6%. of all drivers with collision coverage filed a claim in 2017.2, so if you’re not filing a claim now, you probably will at some point in the future!

but do you always need to file an insurance claim when you have an accident?

when to file an insurance claim

to file or not to file? shakespeare never had to deal with insurance claims, but that’s the question we need to ask ourselves after an accident. and the answer is: it depends.

A general rule of thumb is that if your damages are less than your deductible (or just a couple of hundred dollars more), it’s probably not worth the trouble to file a claim for a very small payment, if you get one. not at all.

It’s also important to remember that when you file a claim, there’s a chance your insurance company may increase your premium rates. yes, even if the other driver was at fault or you can’t control the weather. there is even the possibility that they will cancel your policy in certain circumstances.

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Let’s say you accidentally crash your car into a tree. You have a $1,000 deductible on your collision coverage and it would cost $1,200 to repair your car. Is a $200 insurance payment and higher insurance premiums worth going through the insurance claim process? probably not. In that case, it’s better to use your emergency fund to cover the repairs, that’s what it’s for. once you start to feel the financial pain, that’s when you should probably file a claim.

Here are three specific scenarios where you should seriously consider filing a claim:

1. when someone is hurt.

If you are in a car accident and you, the other driver, or a passenger in either car is injured, that is an automatic reason to file a claim.

2. when it is not clear who is to blame.

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Sometimes there is some confusion about who is at fault for an accident. in that case, it will let the insurance companies of both parties find out.

3. when you suffer a “total loss” or are unable to pay damages.

When your car is completely totaled, you’re probably looking at thousands of dollars in damage. Those are some pretty hefty costs that you probably won’t be able to handle yourself. therefore, filing a claim makes sense.

Every situation is different, so it’s important to contact a representative from your insurance company or an independent insurance agent to help you weigh the pros and cons of filing. a claim in your case.

how to file an insurance claim

So let’s say you’ve just been in a big car accident and the front of your car is smashed like a broken accordion. okay, thank goodness, but it’s pretty clear his car will probably be a total loss and he’ll need to file an insurance claim.

what exactly do you do? We’re glad you asked! Here are some important steps you need to take to file your insurance claim.

step 1: call the police if necessary

If a crime was committed, someone was injured in an accident, or there was significant damage, don’t just stand there. call 911 and get help! And while you don’t necessarily need a police report to make an insurance claim, it definitely doesn’t hurt to have one.

A police report will present a picture of exactly what happened in an accident or crime scene, and will include information that will make the insurance claim process much easier.

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step 2: document everything and exchange information

Now is the time to document what you can from the accident scene and gather information from all parties involved. think of it as a treasure hunt. make sure you get the following:

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