Jan 29
Insurance Claims and Losses
When you’ve just been in a car accident or gone through a trauma such as a break-in or suffered serious storm damage to your home or possessions, the last thing you can do is think straight. The last thing you want to do is think insurance, but it’s absolutely imperative that you don’t get waylaid by emotion too long before your practical side kicks in.
This means that when it comes to insurance claims and losses, time is of the essence. Most policies stipulate exactly how long you have from the time of the incident to make a report of loss. Your claim may not necessarily have to be filed by that time, but you will need to notify the company immediately. The time frame is usually as short as 24 hours and rarely longer than 72 hours.
If the disaster or whatever caused the damage or loss is somehow erasable you must remember to get some proof of the loss. Documentation is needed. Police reports, pictures of the incident or damage, witness accounts – all these fit the need. Keep these where you can find them when you’re asked for them.
More after the jump…
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