Know How Your Auto Insurance Claim is Settled

Car Accident- Know How Your Auto Insurance Claim Is Settled?

Met with an accident and your car is broken down?

For anyone, of course, it could be disappointing to hit with a loss but, let the losses not confuse you in any way. Filing a claim for your car mishap is extremely important, otherwise, it can cause a huge loss. Though insurance policies have a reputation of being complicated, the integration of claims processing automation in the insurance world has made it easier for the customers to file claims.

Additionally, one can take help from claims professionals to ensure if they are eligible to file a claim and the overall process of filing a claim.

Here, we are assisting you with a step-by-step procedure of claims filing right from first notice of loss to claims settlement. Let’s have a look: You reach out to your insurance provider and provide him with details: Right after the accident, begin the process by reaching out to your insurance provider. Prior to that, consider collecting all the documents of your car including original payment slips, invoices, proof of ownership and insurance policy, along with the photos of the damaged car.

Call your insurer and explain everything to him in detail. Tell him about the insurance policy that you have taken from him. Provide every single detail based on the nature of your claim. In turn, your claim provider may ask you to provide some details other than your name, policy number, the extent of the damage to your vehicle, and policy issuing date. It includes the date and time of the accident, car model, or information of the co-passengers and their insurance, etc.

After having all the necessary details, claims adjuster begins the investigation: Once the adjuster collects all the necessary information and report a claim request, has been reported, he begins with his investigation in order to evaluate the amount of loss. He checks what damages are covered in your insurance policy along with identifying liable parties. Here, if you will provide witness’s contact information to your adjuster, the investigation can be completed speedily.

After investigation, adjuster reviews your insurance policy: Once the adjuster completes his investigation, he will dig deep into your policy to check what does it includes and what’s not. After analyzing the policy carefully, he will inform you about applicable deductibles applicable to your case.

Next, adjuster evaluates the damage done: By now, the insurance adjuster has already collected all the necessary information and reviewed your policy. Next, he initiates with the evaluation for the damages occurred. To know the extent of the damage, he may consider taking the advice of claim evaluators, engineers, or contractors. After evaluating the claim, he prepares a list of vendors and shares their contact information to help you with repairs. But one doesn’t have to hire these vendors necessarily, they can do your own homework as well.

Settlement of the claim: Once the repairs are made and damaged items get replaced, you will receive a call from your adjuster regarding the settlement of your claim and the payments Sometimes, this process may take more time than expected depending on the complexity and severity involved in your case.