10 Ways To Speed Up Your Insurance Claims Process

Here are 10 ways to speed up your insurance claims process:

1. Understand Your Policy

   One of the best ways to avoid a long claims process is to thoroughly read your policy. You need to understand the depth of your policy. This is because it is your contract with the insurance company. Do not simply read the policy but also try to understand its details. Look out for your policy exclusions and limitations. What is the total amount you can claim and under what circumstances? Are certain types of damage excluded?

   You should also look out for the claims process and requirements included in your policy. What is the timeframe given for filing a claim? Are you required to provide evidence and documentation? What kinds of claims are eligible?

   Know your benefits under the policy. For example, you may have additional living expenses coverage. You may also have other structures coverage and medical coverage. Take full advantage of these benefits. The insurance company or their adjuster will likely not mention them to you.

   Knowing your policy gives you an edge as a policyholder. It helps you save time by not filing claims that your insurance provider will deny. It also provides you with good footing. This means that you will be able to better negotiate with your insurer.

2. Be Honest With Your Insurer
   

   There should be a level of transparency and truthfulness when filing your claim. Insurance contracts are built on the foundation of the utmost good faith principle. This principle requires both parties to be truthful and honest with each other. This means that the law requires you to provide truthful responses to questions your insurer asks.

   Aside from your legal obligation, being honest with your insurer helps you avoid unnecessary delays. The insurance company will investigate if there are discrepancies in your claim. The same goes for your documents and evidence. This will likely end in a rejection of your claim. You would then have wasted time and resources on a claim. And you will still have to pay for the damage out of pocket.

   Aim for full disclosure when filing your claim to avoid any problems. This means that any information you provide should be as accurate and complete as possible. However, this does not mean you should admit guilt that is not yours. Doing so can cause your insurer to reject your claim. Rather, be honest about how the damage occurred and when you discovered it. You should also be upfront about your expectations from the insurance company.

3. Document Everything Relating To Your Insurance Claim
   

   Documentation is twofold. One is documenting the damage, and the other is documenting agreements and discussions. In either sense, documentation is your proof if any disagreements occur between you and your insurer.

   You should take extensive pictures and videos of the damage once you notice it. Having comprehensive evidence of the damage can help speed up your insurance claim. This is because it provides solid proof if the insurance company disputes your claim. It will also come in handy if they disagree with your proposed settlement.

   Additionally, diligently document any discussions you have about your claim. Put any agreements or exceptions into writing. This is because oral agreements are difficult to prove. Furthermore, keep track of any payments you make out of pocket. Keep receipts, invoices, and other proof of your spending.

   Don’t just document these events; also, organize and manage your documentation. You can create different folders on your device. You can also print out documents and keep them stored in a safe and dry place.

4. Keep Your Policy Active

   Premiums are the backbone of your insurance policy. You need to continually pay your premiums as and when due. Try not to exceed your premium deadlines. Avoiding premium payments means your policy will lapse. An insurance provider cannot provide coverage or honor a claim made on a lapsed policy. It could also lead to your insurer outrightly terminating your policy. In practice, there is usually a grace period given to a policyholder to pay outstanding premiums. This helps to reactivate their lapsed policy. This shows the importance of understanding your policy as you can avoid certain issues.
   

   Having an active policy means a more seamless insurance claims process. Otherwise, you could be stuck because your policy payments were not up to date. Paying premiums constantly may sound exhausting. But doing so helps you prevent any future problems with your claim and your insurer. You can try setting up an automatic payment schedule with your bank. That way, you do not need to manually pay your premium. It is simply deducted from your account when due.

5. Notify Your Insurance Provider Promptly

   Insurance policies usually contain a timeframe. You must file your insurance claim within this timeframe after suffering a loss. Submitting a claim after the time has elapsed can cause issues and delays in your claim. There might be a back-and-forth between you and the insurer regarding your claim.

   Furthermore, notifying your insurer kickstarts the claims process. The longer you wait before filing your claim, the longer your claims process will take. Instead, contact your insurer immediately if you are aware of the loss or damage. Then, provide them with all the information they may need. This will ensure that necessary processes, such as damage assessment, can happen quickly.

6. Utilize Technology for Insurance Claim Reporting

   Many insurance providers now integrate technology into their claims process. As a policyholder, it is in your best interest to utilize it. This technology ranges from online websites to portals. You can submit and track your claims electronically. You can even upload any required documentation. Some insurers also have applications with which you can start and complete your claim.

   Reach out to your insurer if you are unsure about the technology they use. They should be able to guide you through their processes. Doing this can help cut down the time spent submitting or mailing claims. This means you can finalize your claims process faster.

7. Maintain Open Communication

   You need to maintain frequent and open communication with your insurance provider. This should last throughout the claims process. Have constant dialogues with your insurer regarding your claim. Do not assume anything on the insurer’s behalf. If you have any worries, concerns, or questions, reach out to them for answers. You can do this as many times as you need to.

   You should also be open to sharing information. This ensures that there is a free flow of communication. Ensure you respond to any inquiries made by your insurer as soon as you can. Provide them with all the information they may need. Slow and ineffective communication will slow your claim down. The opposite goes for open and frequent communication.

8. Seek Professional Assistance On Your Insurance Claim

   When in doubt, hand things over to a professional. Seek professional advice or assistance if your claim becomes too complex. This will ease your burden. In this scenario, the best professional would be a public adjuster. A public adjuster is a professional who is trained and licensed to handle claims on your behalf. They can guide you through the claims process. They handle the initial filing of the claim, provide evidence, and negotiate the settlement.

   Having expert guidance can cut down on your claims processing time. This is because they are not new to the insurance claim process. Their experience helps them deal with insurance companies better. And unlike you, they are actively trained and licensed for this. They are also known for their negotiating skills. This means that you may end up with a higher settlement. The best part is that their payment is usually a small percentage of your final settlement.

9. Follow Up Regularly On Your Insurance Claim

   You should be proactive throughout the claims process. Don’t always wait for your insurance provider to reach out to you. Send them emails or letters every now and then. After filing your claim, if you do not hear back from them, reach out again to follow up. Also, ensure you follow up in writing after any discussions or meetings you have with the insurer or their adjuster.

   Checking up on your claim regularly shows your proactiveness. It will prompt your insurance provider to resolve your claim as soon as possible. It also helps you avoid delays if the communication issues are from the insurer’s end.

10. Review Settlement Options

    Your insurer will offer a settlement after approving your claim. Always choose the settlement option that works best for you and not the company. Some companies may offer you a check on the spot. Depending on your policy and the kind of damage, your insurer may prefer to pay differently.
    

    You may receive your settlement as a lump sum or in multiple installments. Sometimes, you will receive two separate checks. For example, where both the structure of your property and personal property suffer damage. This is because both damages are often calculated differently.

    Your settlement may also be through direct deposit to your account. They may pay you through your contractor, lender, or management company if you have a mortgage. When reviewing your settlement options, discuss them with your insurance provider. You should also check your policy for any specified methods. Ensure the chosen payment option is easy and accessible for you.