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5 Tips for Dealing With your next Insurance Claim

5 Tips for Dealing With your next Insurance Claim

Sometimes processing an insurance claim after a catastrophic event can turn into a nightmare.
This article contains some pointers on how to handle the bureaucracy and confusion that can occur when filing a claim.

Insurance is meant to help us all feel safe, protected. Unfortunately, processing a claim after a major event can often become a nightmare of bureaucracy, confusion, and even double speak.

What should you do when your insurance claim turns into something out of a horror story?

Here are 4 tips on what to do when you encounter trouble with an insurance claim.

Know your policy inside out

Be honest, you probably didn't read all the fine print when you signed your insurance agreement, did you?

Now that your claim is at stake, you need to familiarize yourself with all the ins and outs of your policy.

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It will help you in your communications with your insurance companies and any other professionals you may need to consult.

Don't assume your Insurance Company is right

A lot of people turn tail and walk away when their claim is denied by their insurance company.

They assume the insurance company must be 100% correct; and, frankly, they assume the company is being 100% honest, too.

That is not always the case.

Oftentimes, if you press the point or circle back to them, a second look will result in an approval of your claim. You can't assume that the company didn't make a mistake... or, worst case, isn't trying to get away with something.

Consult with an Insurance Lawyer

If you have reviewed your claim and know you're in the right, but are still getting stonewalled from your insurance company, turn to the professionals.

A seasoned insurance lawyer can make a lot of headway on your behalf and achieve results you never even knew were possible.

Keep track of everything

You need to keep track of absolutely everything involved with your claim.

This means documenting events, keeping detailed records, marking a calendar, filing receipts... the list goes on, depending on the nature of your claim.

Anything that is related to your claim should be within reach at any given moment.

If you are working with an expert in insurance law, make sure that he or she also has access to all your paperwork, as well.

Stay Patient!

Unfortunately, these things take time. Insurance issues and claims can take months even years to resolve.

As long as you are informed about what is at stake and consulting with the right professionals, you should feel confident letting the process play out.

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While many people would consider their home or their car to be their most valuable asset, it's your ability to earn an income that is most important in shaping your financial future. Statistically, two thirds of working Australians will suffer an injury or illness that will sideline them for 90 days or more. The majority of these people would not be able to pay their mortgage or meet car finance and other loan commitments without adequate income insurance.
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