Filing Your Automobile Insurance Claim
Every year millions of consumers file claims
with their insurance agents and insurance companies. The trauma of an auto
accident or theft is stressful enough without having to worry about your
insurance claim.
The following information, prepared by the Independent Insurance Agents of
America, is designed to help you understand the claims process. Your
independent insurance agent will be there to ensure your claim is handled
promptly and fairly.
Taking It To The Road
There are two basic types of claims. The first
involves loss or damage to your automobile. The second type is a liability
claim which arises when someone else suffers an injury or damage to their
property because of something you did or did not do.
For example, if you run a stop sign and hit another vehicle, you could be
liable for the damages to that vehicle and any injuries that may have
occurred. Liability claims may result in a lawsuit against you. To cover
these two key areas, most auto policies subdivide the coverage into the
following categories:
-
Auto liability covers damage to
other people's property and injuries to the people.
-
Collision covers damage to your own
vehicle.
-
"Other than Collision" or
"Comprehensive" coverage pays to repair damage to
your car caused by fire, theft, vandalism, natural disaster or similar
events.
-
Medical payments, termed "good
faith" coverage, guarantees immediate medical payments for you,
your passengers and other parties involved in the accident, regardless
of who is at fault. The point is to help someone who is injured get
the necessary medical attention and deal with the issue of fault and
insurance later.
-
"Uninsured and underinsured
motorists coverages protect you if you are injured in an accident
with others who themselves do not carry enough insurance or have no
liability insurance.
That's It?
No. There are additional coverages such as
towing and temporary replacement vehicles available for your auto
insurance policy. In fact, just about any contingency can be covered by
adding clauses and conditions known as endorsements or riders to a
standard policy.
After An Accident
For several reasons, the first conversation you
have should be with your independent insurance agent. Chances are your
policy includes a stipulation that the insurance company be notified
promptly. Conversations with others about the situation can inadvertently
waive some of your rights in the case.
When The Time Comes
If you do suffer property damage or injury or
incur liability, it is time to file a claim. You will be asked to fill out
a claim form--the formal document on which you request benefits to be paid
according to the terms of the policy. Be complete and supply as much
detail as you can and, of course, be truthful. All this will help your
adjuster do his or her job and therefore speed the process.
To support your claim, it may be necessary to
supply the insurance company with some documentation such as a "proof
of loss" form, auto repair and medical bills, and a copy of the
police report.
Be sure to keep a copy of your claim and any
associated paperwork for your records. You may need to refer to it in the
future.
What Is A Deductible?
When you file a claim for property or loss, the
payment made by the insurance company is subject to a deductible.
Basically, when you purchase your insurance policy, you agree to pay the
first specified amount of any damage as your share of the cost of repair
or replacement. The insurance company adjusts its rates accordingly,
charging less for those who agree to pay a larger first share--or
deductible. For example, if your car should sustain damages costing $2,000
to repair and you have a deductible of $250, you would pay $250 and the
insurance company would pay $1,750.
What Is A Claims Adjuster?
Once you have reported your claim to your
agent, he or she will contact your insurer's claims adjuster--usually
within the hour. The adjuster will begin the settlement process, the
length of which will depend on the cooperation of the other party, if any.
While some claims are relatively easy and straightforward, others are more
complicated.
Your adjuster is charged with investigating the
claim and then making a recommendation to the insurance company. The
recommendation can be to accept the claim and pay the full amount
requested, accept part of the claim and make a partial payment, or refuse
the claim and make no payment. The insurance company will then make a
decision regarding your claim and notify you of its final decision.
A Final Note
The amount of compensation offered can vary
according to the adjuster's analysis of your claim. Keep in mind, if you
feel it is too low, you do not have to accept the first amount offered.
While you may have to do some research to prove a higher payment is valid,
it may be worth it. Ricketson Insurance & Realty Inc. is able
to assist you in reaching a fair settlement.
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Ricketson Insurance & Realty Inc.
P.O. Box 921 - 955 Augusta Rd.
Thomson, GA 30824
Phone: (706) 595-4354
Toll Free: (800) 613-5874
Fax: (706) 595-9225
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