What to Do During an Insurance Claims Process

By Elizabeth Summers / November 12, 2017 / No comments
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For all the claims made by insurance companies in their numbers, one would easily be fooled into thinking they care about you or your business. They don’t – what they care about is having you as a client so that the contributions you make as part of your premiums can be pooled together with all the other clients they have. Insurers make insane profits with their client’s money and it’s nothing but a numbers game.

With that in mind, it doesn’t mean you can’t and won’t benefit from the service of taking out an insurance policy. In some cases like hazardous work, a life insurance policy or an architect disability insurance policy could be a very important source of income in case the worst happens. By design, the relationship between an insurer and an insured is meant to be a mutually beneficial one. Everyone contributes to the pot and if something happens then one person takes money out of the pot to help them cover their expenses. Albeit this pot is one that makes clever use of financial and economic law (financial engineering) to enrich the financial institution that is the insurer.

Still, if you get your payout amidst a payout-triggering event like loss, damage, or injury, due to circumstances beyond your control, then that is extremely beneficial to you in terms of paying for the fire or Water damage restoration to your home or your hospital bills in case of an injury. Insurance companies and even other types of businesses use methods to come up with accurate estimates on the cost of repairs or compensation, and that is irrespective of the fact that the insurer makes so much money out of this relationship with you as one of their clients along with the many thousands of other clients they have.

The reality of the situation however is that you pretty much have to brace yourself for a fight if you’re to get your payout following the claim you’ve filed, but by no means does that mean the gloves have to come all the way off. All it means fundamentally is that you’re the one who has to take some initiative and be proactive about getting what’s due to you in the form of your payout. The insurer is not going to come looking for you to give you your money, which is why an official Claims Process exists, for personal policies as well as for business policies – one that many clients tend not to even familiarise themselves with until the time to file a claim actually comes.

This can be very dangerous because the typical insurance policy has some technicalities built into it which if not carefully scrutinised could make for a very stupid manner through which to disqualify yourself from getting your claims process payout. For example, certain policies have a set time in which a claim must be filed following the triggering incident, failure of which to honour could make for some technical grounds on which to nullify what you may very well have otherwise been entitled to.

If I’ve put the fear of God into you about your insurance policy then I apologise – that was not my intention. All I seek to do is point out that you need to make sure everything is in order to your end during the claims process, but should things not quite go according to plan. You feel as if you’re really getting the short end of the stick, legal professionals such as the likes of Rutter Mills are at hand to help you fight what could turn into a very nasty legal battle.

If you have legal grounds for some recourse then you have nothing to worry about, so it’s simply a matter of making sure you follow the correct procedure throughout the claims process.