As you might imagine, we get a lot of questions from clients about how to deal with their insurance company. Here are 5 very simple tips to help you more competently deal with your insurance company both, in advance of, and during the claim process:
Don’t Trust Your Insurance Agent Blindly!Insurance agents are often hired based on their charisma, charm and ability to sell policies, not necessarily on their depth of knowledge or aptitude in fitting the right policy to their clients. No matter how affable your agent is, do your own research and due diligence in determining which policy and/or which insurance company is right for your needs.
Keep Notes and Files on Your Policy! Write down everything your agent tells you and keep any promotional material you are given when signing an insurance policy. If, down the line, it comes to light that your agent has misled you, either purposefully or accidentally, the company has to pay you the full amount that was promised, not what the policy actually says.
Read the Completed Application Form! Insist on getting a copy of the final application form and read through it carefully. Contained within this document are the important details that will make ALL the difference in the event you need to exercise your policy. Among other things, read through the policy’s exclusions and ask your agent questions about anything you do not understand.
Be Honest and Careful when Making a Claim! Never lie or exaggerate when you make your claim. Either of these can lead to forfeiture of payment by your insurance company. If in doubt, consult an independent expert before agreeing to a payment amount and do not stretch or bend the truth.
Remember This Is a Game To The Insurance Company! The insurance company’s job is to pay you the smallest amount they possibly can. Left to their own devices, they will pay you as little as possible. Remember this in dealing with them and remember your rights if you believe you are not being offered what you believe your accident is worth. Be honest, don’t exaggerate, and if in doubt, consult an expert who knows how insurance companies operate.
Doing these 5 simple things will greatly increase the likelihood that you will walk away with the best settlement or decision possible.