Types of Insurance Claims to Make

We all hear the word insurance everywhere, but most of us don’t know what it is, what it does, and how beneficial it is in our lives for future use. Insurance is a contract between two parties. In simpler terms, insurance is the payment of a fixed amount of money (also known as a premium to be paid every month or a specific period) to protect against a bigger unpredictable expense (also known as a claim or loss).

Insurance is a security against a monetary loss whenever an unexpected and unfortunate event happens, such as accidents or death. Insurance companies accumulate premiums to provide their clients with this kind of protection. Insurance claims, on the other hand, is a formal request to the insurance company for compensation that occurred from a loss. There are different types of insurance, depending on your needs and situation. The following are types of insurance claims.

Homeowners Insurance Claims

In a homeowner’s insurance policy, you must file a claim with your insurance company if your residential property suffered from any form of damage covered by your insurance policy, such as damages during a heavy storm, burst pipe, damages caused by flood or fire, and so on. You should also advise your insurance company if someone else suffered from any type of injury while inside your property.

If that person happens to file a case against you in the court of law, your insurance company must defend you under the liability section of your policy. On the other hand, if you get injured while visiting someone else’s property, you also need to file a third-party claim. Homeowners’ policies normally include injuries endured by visitors if the homeowner was careless in maintaining the property or alerting the visitor of a threatening situation.

Car Insurance Claims

If you happen to get involved in a car accident, whether that unfortunate event occurred physical injuries, damage to property, or both, then you need to file a claim with your insurance company. If the other driver involved in the accident is at fault, you must still file a claim with your insurance company if the driver’s insurance company denies paying the damages, or if he or she doesn’t have insurance or escapes the scene.

Health and Medical Care Insurance Claims

Health insurance is a type of insurance for the possibility of approaching medical expenses. For most types of insurance, you need to file your claim to receive compensation and benefits. But with a health insurance claim, your health care provider will send a claim directly to your insurance company.

The clinic or hospital will charge you for the remaining balance unpaid by the company. If you need to directly file your claim, talk first with your insurance company for the requirements and send those together with the hospital bill. Filing for an insurance claim would be easier if there is an allied health claim processing software involved. The transaction would surely be faster and hassle-free.

Life Insurance Claims

You don’t file a life insurance claim as the one insured like the other common types of insurance claims, but rather you file it after the insured’s unexpected death. In filing for a life insurance claim, you must submit original and certified copies of the insured’s death certificate together with the duly accomplished required forms. Note that every countries or state have a different timetable for when life insurance must be claimed, so make sure to do your research.

Delsie Leff
 

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