When a car or property is insured with a specified sum, policy holder pays regular premiums. On a sudden occurrence of an event, a policy holder looks for an insurance claim. For instance if a car has been damaged, it requires certain finance to be repaired.
Car damages partly or fully are first intimated to the insurance company along with evidences. This means the course of events that lead to the damage of car.
A complete analysis is made about damage before ensuring any insurance claim. At this point, policy holder needs to negotiate with the company in calculating the loss.
Because there is no guarantee that company is going to sanction the entire insurance claim. Therefore, it is important for the policy holder to provide good evidences along with proper documentation. This satisfies the company about the genuine cause of damage.
Policy holder must have an idea about fair value which is required to by a new car or a similar model of car. To this effect, customer can always a request a written notice from the company. It must confirm that the customer will receive payment within a certain period of time.
It is important to keep the records of previous repairs and maintenance. This will help in making the calculation for insurance claim.
An independent insurance consultant can provide good guidance in calculating the loss and will provide the best advice in claiming the full value. Seeking a professional help is very much important.
Calculation of insurance claim should be clearly understood by policy holder. Only by getting good understanding, policy holder can negotiate with the company for more amounts. On the other hand, company also receives the genuine documents and stays satisfied with negotiation made by the customer in insurance claim.
