July 20, 2024

Documenting Your Insurance’s Claim for Your Full Protection

Keeping track of names isn’t just so you can reach them easily when you need information. It’s an integral part of the most important aspect in resolving your claim. Above all, you have to document your claim. While this process won’t guarantee that your claim will be accepted, it will guarantee that all promises are lived up to and that you are treated fairly by the insurance company. You should keep a paper trail in case you need it later. You’re getting sued for what? An E&O Odyssey? Breach of contract or anything else, don’t you worry as this article will help you be ready with all the documents needed.

You can bet that the insurance carrier is keeping track of every call made to you and of every conversation you have. Each company has quality assurance guidelines that require that employees record the names, dates, and substance of every conversation during the claim process. You should also keep your own log, in case there are disputes over what transpired, and it will expedite matters if you need to follow up for additional information.

Whenever possible, send letters confirming conversations you’ve had with the insurance carrier. This will help you verify any agreements or representations that were made. It will allow you to put your position in writing. The receipt of your letter might also trigger additional work on your claim and will help bring it to a conclusion more quickly.

As part of your documentation effort, you can prove your own case if necessary. If your health insurance claim is denied because the carrier feels it was not medically necessary, you can call upon your own doctor to refute that decision. A little medical research of your own might uncover facts to dispute the carrier’s position. The person handling your claim might not possess any knowledge of medicine that is superior to your own. The claim handler is relying upon rigid guidelines and doesn’t necessarily understand the medical reasons for the denial. No medical situation is exactly alike and you can demonstrate why your claim is different.

If you have a claim against someone’s liability policy, you can also develop your own evidence. There might be other witnesses that the insurance company hasn’t contacted. Perhaps there have been other accidents in the same area that can be pointed to in support of your position. You should know your claim better than the insurance company employee, who is handling hundreds of them.

Nothing is more convincing to insurance companies than paper. They thrive on it. For you to deal effectively with them, you have to operate on their level. The better you document your claim, the better chance you have of getting a fair shake. You can tell the insurance company personnel how badly you were injured in an accident, but it means more to them if a doctor verifies those injuries in a report. Make sure all lost wages are verified, as well as any incidental expenses.

With certain types of claims, you must think about documentation before the loss occurs. It’s like taking a tax deduction without keeping the necessary back­up documentation. You should keep all receipts, invoices, appraisals, and other records in case you have a loss involving your property. Consider making video­tapes of your most priceless possessions. At a minimum, keep a household inventory and photographs of your belongings in a safety deposit box.

It is also important to document the coverage you have. While you might know what drawer a particular policy is in, someone might have to be the insurance planner in your absence someday. All of your insurance papers should be in one place. If they aren’t, your beneficiaries might be unaware of a valuable pol­icy. Otherwise, they might be writing to insurance companies to see if there is a policy in your name.

Keeping all of your insurance policies in one place can also make matters easier for you. If you’ve made the mistake of buying mail-order policies over the years, they’re as hard to keep track of as savings bonds. A periodic review of your insurance-related documentation will guarantee that you are not paying for policies you don’t need. In addition, this review will make you aware of any essential policies that might lapse.

When you start keeping your insurance papers in one place, don’t forget about the free coverage you get through a credit card or auto club. When you get a brochure describing this incidental coverage, make sure it stays in the designated area. Keep all correspondence with your agent and insurance company there also, along with the notes from your conversations with them.