Homeowners’ insurance rates can be expensive and overwhelming. While all homeowners struggle to pay the large insurance rates that come with owning a home, most homeowners expect insurance companies to pay when they have a claim. If your insurance company has denied your claim, you have many options. Here’s what you should do.
1.Don’t take no for an answer. Statistics show that less than 1% of people appeal or query a denied claim. But over 50% of the people who DO fight back actually get their claims approved. This means that persistence will get you far. Insurance companies unjustly deny almost 10% of all claims. If you are filing an honest claim and you’ve got the evidence to back it up, then you just might win your claim. More often than not, claimants who issue a query for their claim will actually get a better settlement, or will be able to reverse a denied claim.
2.Obtain all correspondences with the insurance company. You need to make sure you get everything in writing. Ask for the insurance company to review the case. Request that the company include detailed information regarding the status of your claim, and why they denied the claim. You might be unaware that many jurisdictions require insurance companies to issue written documentation to claimants.
3.Go over your policy in detail. Compare your policy with the insurance company’s response to your claim. If you notice discrepancies, then you can build a case. Assemble this evidence in writing and incorporate quotes from your policy to prove your claim. Often, disputes over insurance claims come from the way that the policy is interpreted. This means that if you can put together a strong case for why your claim should be honored, you’re more likely to receive funds from the insurance company.
4.Defend yourself from Claims Process Errors. Each insurance company has a specific company policy regarding the way they process claims. Often, they require that you file claims within an allotted period of time. Some companies will even deny claims because you didn’t fill out paperwork on time, or you left something blank. The majority of legal jurisdictions have laws that state that insurance companies cannot deny claims due to claims process errors. So, don’t take this flawed logic.
5.Talk to your agent. Since you’ve developed a relationship with someone at the company, it might help to discuss matters personally with your insurance agent.
6.Check with authorities. If you live in the U.S., the State Insurance Department can inform you as to your rights regarding insurance claims.
7.Hire an agent. Professional Loss Consultants will fight the insurance company for you. They’ve often got an inside track on what’s going on. Usually, they just charge a percentage of your claim. Don’t pay money up front to these folks. If they’re good, they’ll only take a percentage of your claim. They can be very useful; as they’ll work hard to make sure you get your money.
You have to be dogged when you’re dealing with insurance companies. If your claims have been unjustly denied, you have to fight. Remember; keep fighting until you win your claim.
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