Best Insurance Services
Apr 30, 2014
A recent survey conducted by the Independent Insurance Agents and Brokers of America (IIABA) found that only 40% of people are aware of what is in their insurance policies, and only 60% of people actually do any research before buying a policy.
If you’re one of these people, then it’s time to brush up on your insurance literacy. For this blog, we’ll touch on 3 common questions that should help you understand how your policy works:
Let’s say you got in a fender bender, and you reported your claim to your insurance agency.
What happens next?
Your claim will be handed over to a claims adjuster, who is responsible for determining whether you’re covered under your policy, and if so, to what extent you’re covered. Your claims adjuster may want to meet in person to discuss the claim, but usually everything will be handled by telephone. In some cases, you may have to fill out a Proof of Loss form, which is basically a sworn statement that backs up your original claim.
All the details about your policy will be included in a single document, which should have been given to you at the time you purchased your insurance policy. If you can’t find it, then ask your independent agent, broker, or claims adjuster for a copy. You may also be able to download a copy off your insurer’s website.
If you have any questions about your coverage, your independent insurance agent will be happy to help.
When filing a claim with another person’s insurance company, you’ll go through a similar process. You’ll be contacted by their claims adjuster, and they’ll offer you an amount to pay for damage and repairs.
If you’re unhappy with what they offer you, you can file a claim with your own insurance company, which might be able to close any gaps, depending on your coverage. If all else fails, you can also file suit against the other person.
For more help understanding the complex world of insurance, contact Best Insurance Services today!
23940-A Ironwood Ave
Moreno Valley, CA 92557
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