Insurance 101: What Exactly Is The Insurance Claim?
When a person has an insurance policy on their life, auto, health or home, and has made regular payments, also known as premiums to the insurance carrier, a time might come when they need to make a claim. An insurance claim is an appeal for benefits given by an insurance company. With the help of this appeal, one asked insurance companies for money to pay the fees of a hospital or any other services. When you send in the documents, the insurance company assesses the situation and decides whether or not to pay the funds requested.
Usually, an insurer files a claim with the agent of the insurance carrier. The said agent will examine every little detail of the insurance claim and
will behave as the middle man between the insured's negotiations and
the primary insurers. In numerous instances, a well-recognized
professional like a building contractor, doctor, the repair shop can
also file the insurance claim forms directly with the carriers.
Seldom after filing an insurance claim, the insurance company sends out an analyst, also known as an appraiser or adjuster. Their work is to assess the insurance claim and work out reasonable estimates. Generally, insurance carriers do this to restrict dishonesty by contractors who might provide exaggerated estimates.
There are various reasons why an insurance company might not accept an insurance claim. Do remember that insurance carriers won't pay if the premiums are not fully supported. During an automobile accident, when another carrier has decided to pay for the damages, the claim will be declined. This is because the claim falls under the area which has not been covered in the policy. Similarly, if the cause of the claim is negligence or an inevitable "Act of God" claim will be delayed.
