Filing an insurance claim is the act of applying for or ‘claiming’ benefits forproperty whichiscoveredunder an insurance contract. Policyholders must file a claim before the insurance company will pay for the repair or replacement of covered property. The insurance company has the right to approve ordeny coverage. Denials can happen when the insurance policy does not cover the property whichwas damaged or does not cover the time frame inwhich the incidentoccurred. If coverage is approved, the insurance company conducts further investigationusinganin-house claims adjuster or an independent claims adjuster found on websites such as Claims Pages.
An individual must regularly pay insurance premiums to maintain coverage. The aggregate of these premiumsare used to pay insurance claims for the repair and/or replacement of damaged property. By paying the full premium due, or at least the minimum installment amount required, policyholders will be afforded coverage.
After a claim has been filed with an insurance company, a claims adjuster is assigned to the case. This individual is responsible for investigating the claim, determining coverage, and negotiating settlement amounts.In the course of negotiations, the claims adjuster will need to reach an agreed price with service providers.
Although the claims adjuster is usually able to reach an agreement, there are times whereservice providers demand more than a reasonable amount. In these cases, the claims adjuster will need to locate an insurance-friendly service provider who is willing to provide repair and replacement services for the amount the adjuster is willing to pay.These insurance-friendly service providers can be found inthe Claims Pagesprint and online directories,and on other claims-related websites. By using service providers who are used to working with adjusters, insurance companies can avoid excessive claim payments while still meeting their obligation to the policyholder.