9 Steps on How to File an Insurance Claim
Nobody wants to be in the position where they have to file an insurance claim. Why? Because it usually means that some kind of accident or disaster has befallen you, someone close to you, or your business.
On the upside, however, is the fact that insurance companies exist for this very reason – to help you out of difficult situations in a time of need. If you need to learn how to file an insurance claim, the process is quite straightforward despite the amount of documentation.
Many people think filing an insurance claim is complicated, especially if you’re dealing with other elements of an accident and not just the insurance side of things. However, the best way on how to file an insurance claim is to simply follow the procedures step by step.
Here are the nine steps on how to file an insurance claim:e
1. Make sure your insurance company will cover you
Before you learn how to file an insurance claim, make sure you understand the extents of your insurance coverage. When something happens to your car, your home, your business, or anything else that you’ve insured, you can be quick to start the claim process. What if you go to all that trouble, only to have your claim denied?
Before doing anything hasty, it’s best to re-read your insurance policy to see exactly what claims you can make on your insurance providers. It’s good to consult with an insurance broker and have a clear understanding of your policy before taking any action.
2. Pay attention to the details in your insurance policy
There are many things to consider when reading through your insurance policy. One item to take special note of is just how long you have to file an insurance claim after the incident has occurred. Which brings us to our next point….
3. File your insurance claim sooner rather than later
Depending on how much time you have to file your insurance claim, you may not think it’s necessary to put in an insurance claim right away – but it is! When you file an insurance claim at once, you’ll be much better able to answer any questions about the incident that your providers might have. Your memory will be fresh.
Additionally, the sooner you get the ball into your providers’ court, the sooner you’ll receive compensation for the accident or disaster.
4. Weigh the pros and cons of the insurance claim
Before filing an insurance claim, it’s a good idea to take a step back and think about how this claim will affect your standing with your insurance provider. Of course, you purchased an insurance policy for incidents just like this.
If the damage isn’t too bad, you may actually save money by paying for it out of pocket instead of making a claim. Your premiums could go up after all. However, don’t hesitate to file an insurance claim if you have a real need. Just be aware that you could pay more in premiums after your claim goes through.
5. Call your insurance provider to file the claim
Once you’ve decided that filing an insurance claim is the best course of action, you’ll need to call your insurance provider to set things in motion. Some providers do have online availability when it comes to filing claims, but there’s something to be said for over-the-phone communication.
Explain that you want to make a claim, why you want to make a claim, and then follow the instructions you receive.
6. Be detailed about the reasons for the claim
Often after filing an insurance claim, you will be referred to a claims adjuster who will ask you all sorts of questions about the incident/accident. You will need to have all pertinent information readily available; most successful insurance claims rely on clear, concise, thorough information to get off the ground. Now is not the time to be cagey or obtuse.
7. Make yourself available while the insurance claim is processed
There will most likely be a list of documents and records that you’ll need to give to your insurance provider after making a claim. These are essential for your claim to be processed properly and legally.
There may also be a fuller investigation into the incident that led to the claim, meaning that you’ll need to leave yourself open to questions and requests for additional documents and records. Insurance providers take their work very seriously, so you should as well.
8. Keep good records of the insurance claims process
When going through the process of filing an insurance claim (and dealing with the aftermath), it’s an excellent idea to take plenty of notes, record conversations, and generally keep tabs on everything that’s going on.
Make sure to record who you speak with and to file all necessary and important documents as soon as they come into your possession. It pays to stay on top of things.
9. Know your options if your insurance claim is denied
If your insurance claim is denied for apparently no good reason, you do have options. Getting legal help is a good place to start, especially if you are well within your rights to receive compensation from your insurance provider.
You can also file a formal complaint and/or reach out to the Insurance Bureau of Canada. Know your rights – don’t be satisfied with filing an insurance claim and accepting whatever comes of it.
