Brilliant Review Corner

Life Insurance Claims

Life Insurance Claims

Article by Alfred Shepherd

OK; so far so good, the basics of the insurance appraisal process are beginning to come together. We have an independent appraiser for the policyholder. We have an independent appraiser for the insurance company. Finally, there is an Umpire. These three individuals are known as The Appraisal Panel. The object of the Appraisal Panel is to set or determine The Amount of Loss. The Amount of Loss is the total dollar amount needed to return the damaged property back to its original condition, either by repair or replacement.Also, the Appraisal Clause is only applicable if a dispute arises from a covered loss. If the insurance company denied the claim as something not covered then this is not a dispute on the amount to repair, but rather a dispute on coverage. For example; homeowners and business policies due not cover floods. Flood policies are purchased separately. So, if there is no coverage for the flood damages then the Appraisal Process is not an option.Almost everyone who has suffered damages to their property as a result of a fire insurance claim makes costly mistakes during and after the settlement. However, there is one very costly mistake that policyholders make time and time again without even knowing it. And, the winner is (or should we say loser); Most policyholders simply rely on their insurance company adjuster to inspect, evaluate, and estimate their entire insurance claim without checking up on them. This can be the most costly mistake anyone could ever make in their entire life.Obtain Documents Of Your Contents Damage: The insurance adjuster has taken photos of your contents during their inspection as well. If you have no photos yourself, or minimal photos – then request all photos taken by the adjuster of your contents. You should also request the complete detailed contents inventory they have written to arrive at their numbers. This documentation will be useful for the fire insurance claim consultant you choose.So it is May 29th and Mom and Dad (the Insurance Company) are starting to think about the season. They know it is around the corner and want to make sure that on Christmas morning, everyone feels they were treated fairly, even Mike and Missy (who swore going to the Art School would count as all Birthday and Christmas gifts for the year.) So they start talking about the Christmas forecast and determine that it should be a calm season, everyone’s expectations are in line with what they want…no big expenditures. With a nice, lean budget in mind they relax and look forward to a mellow and peaceful summer with the kids.During an emergency, the large Insurance Companies, Emergency Services, and other Service Agencies are caught in a mad rush to get the situation under control quickly. All Homeowner are in need of insurance claims help and rushing to submit homeowner insurance claims. In the beginning, everyone is working to insure people are safe and the rebuilding is started immediately. As the situation unfolds, in our case a Tornado named Christmas, more processes and procedures are put in place that slow the flow of money. New rules for how to file an insurance claim are implemented. Systems are developed to minimize the insurance claim problems and possible insurance claim fraud that plagued the earlier days. The short story is…the Early Bird Gets the Worm, experiences less hassle, but the early bird needs to be informed, prepared and on top of their claim.When an insured dies there is not a standard process of submitting a life insurance claim to the insurance company and then receiving the death benefit. In our twenty-plus years of helping clients collect death benefits no two life insurance claims have been the same. An unfortunate reality is that insurance companies look for reasons to deny death benefit claims. While there are instances when a life insurance claim should be denied because of fraud, most often death benefit claims are denied for the wrong reasons.The insurance industry is totally sold on “aftermarket” parts for auto repair. These parts may fit your car, and may work on your car, but they are of inferior quality to the original equipment manufactured parts the automaker used to build your car. You should NEVER allow the insurance company to insist on aftermarket parts to repair your car. There is NOTHING in your policy that gives the insurance company permission to use cheap parts to repair your car. In fact, most policies guarantee you “like kind and quality” repairs. Aftermarket auto parts save the insurance company bunches of money, but only at your expense.Have you been denied pay-out on an insurance claim? Then you may need the help of a denied insurance claim lawyer. All day every day people have to deal with denied insurance claims. This is not always the just outcome of a claim. It may be sometimes, but insurance companies have a way of interpreting their fine print to their own advantage. Check out this article to find out if you need the services of a denied insurance claim lawyer.