NEVER FEEL GUILTY ABOUT MAKING AN INSURANCE CLAIM, you paid for it, the insurance company accepted your premium dollars you purchased insurance benefits that would be available TO PROTECT YOU if you have a covered loss.

HOW LONG SHOULD YOU WAIT AFTER A COVERED LOSS TO REPORT THE CLAIM? IMMEDIATELY, ALWAYS GIVE YOUR INSURANCE COMPANY AND/OR AGENT immediate notice of your claim the longer you wait the more your insurance company is going to think something is wrong with your claim.

ALWAYS COOPERATE WITH YOUR INSURANCE COMPANY, with the investigation of your claim. Remember your insurance company has a duty to conduct a reasonable and fair investigation into your loss. Remember the sooner the investigation is completed the sooner payment of your claim should be made.

KNOW YOUR INSURANCE POLICY requests a certified copy of your insurance policy from your insurance company. Read your insurance policy find the coverage in your policy. Understand that coverage is the portion of the insurance policy that provides you your insurance benefit that you paid for. Your protection against the loss you sustained. The reason you purchased your insurance to begin with.

ENDORSEMENTS are part of your insurance policy that modifies or changes the coverage. If your insurance declaration identifies endorsements make sure you ask for copies of the endorsements when you ask for a copy of your insurance policy.

UNDERSTAND YOUR POLICY LIMITS each coverage has a policy limit. REVIEW YOUR INSURANCE DECLARATION PAGE. Your declaration page identifies your coverage under your insurance policy and your policy limits.

ONCE YOU MAKE YOUR CLAIM YOUR INSURANCE COMPANY HAS A DUTY TO INFORM YOU OF YOUR COVERAGE FOR THE LOSS. It is always a good idea to compare the coverage for the loss provided by your insurance company and the coverage you paid for in your insurance policy. If you don’t understand the coverage or you think you have additional coverage don’t be afraid to ask if you have additional coverage and what your policy limits are.

ALWAYS DOCUMENT ALL CONVERSATIONS WITH YOUR INSURANCE COMPANY AND ADJUSTOR your insurance company is in the business of making money. For some insurance companies and insurance adjustors it is not paying the claim fairly and reasonably after completing an investigation of the claim, but how much was saved when paying the claim. By documenting conversations you have a paper trial of what occurred during the claim.

PROOF OF LOSS make a list of your losses and provide documentation supporting the value of your loss. Depending on the type of loss your insurance company adjustor may estimate your loss, or have the loss evaluated by an expert, i.e. auto repair shop, contractor, appraisers to determine the amount of loss. You always have the right to have your own expert, auto repair shop, contractor, appraiser to determine the amount of loss.

Depending on your insurance policy when you and your insurance company disagree on the value of your loss either side has a right to demand appraisal. Remember there are time restrictions in the contract as to selecting an appraiser. Make sure that your insurance company complies with the time restrictions. Remember it’s your loss. The longer the insurance company holds onto to its money the more money they make.

For other losses that right to appraisal does not apply your only option to recover insurance benefits that you think you are entitled to that were not paid is to file a lawsuit.

CONTRACTUAL STATUTE OF LIMITATIONS often stated in an insurance company is a statement informing you that if you file a lawsuit against your insurance company to recovery the insurance benefits you paid for you MUST FILE A LAWSUIT within 1 year of the loss. So if you are getting close to the one year anniversary date and you want to protect yourself ask your insurance company to provide you a letter agreeing to extend your right to file a lawsuit against them for your contractual benefits you think you are entitled to. This way you don’t have to race down to the courthouse to file a lawsuit.

Statute of limitations may be longer under certain circumstances if you sue your insurance company for intentionally delaying the payment of your claim, or not paying all the insurance benefits you are entitled, or under State law you may have additional time to file a lawsuit. If you are not sure ask your insurance company to state in writing how long you have to file a lawsuit or consult with an attorney.

WHEN PAYMENT IS MADE make sure you receive an explanation as to how your insurance company determined your loss. Make sure you receive all the insurance benefits you are entitled too. Don’t be afraid to ask in writing why your insurance company paid less than you thought you had coverage for. For example if depreciation or wear and tear is deducted from your loss ask how the about of depreciation or wear and tear was determined. Read your insurance policy to see if the payment that was made complies with the specific terms of your coverage, or definition of how payment is to be made.

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