We all have our insurance policies for various reasons. But what happens when you are faced with a claim? It’s easy to become overwhelmed by the process of filing an insurance claim. Different companies have different processes through which customers can file their claims. With how many different types of insurance policies are out there, it can be difficult to know where to start.
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But don’t worry! This article will provide you with information on the 5 important steps to take to successfully file an insurance claim in Nigeria.
The steps provided in this post have been written to suit whatever insurance claim you are filing – car, property, life or health. Interestingly, with the advancement in technologies, there has however been significant improvement in the process of filing insurance claims in Nigeria. For instance, most companies now allow their customers to file claims through a simple form on their website or through an email.
You may be wondering what an insurance claim is. Well, simply put, an insurance claim is simply a formal request by an insured to an insurer, notifying the insurer of a loss and requesting payment according to already agreed terms.
This post only guides post-loss claim filings, read on for the five great ways to make sure that your insurance claims go smoothly.
First, Ascertain Your Losses
The first step towards successfully filing an insurance claim is to ascertain your losses before notifying your insurer. This will help you understand the nature and extent of your losses to present the right information to your insurer while filing your insurance claims. Also, ascertaining your losses will give you room to personally assess your losses in light of your insurance policy. That way, you save yourself the stress of filing for losses not contained in your policy.
To effectively ascertain your losses, you may need to engage the services of a loss assessor. It is highly recommended you engage one, especially in cases where the object insured holds great value.
Notify your Insurance Company
When you are done ascertaining the level of losses and are convinced you should make a claim for compensation from your insurer, the next thing to do will be to notify your insurer of the losses. This is regarded as you legally registering your losses and you must ensure you follow the necessary processes, as provided in your insurance policy.
Verification of Proof of Insurance Cover
On receipt of your insurance claim, your insurance company will take time to verify whether or not you truly hold an insurance contract with them. They will also verify the validity of your insurance policy. It is at this stage that most persons come to learn that the insurance policy they hold is fake and not those of the insurance companies they are making claims to. This is why I strongly advise in a previous post that you ensure you carry out your due diligence before taking out an insurance policy to avoid buying fake insurance policies.
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Assessment and Verification of Claimed Losses
That you have suffered a loss and have made a claim for compensation does not guarantee you will be compensated. Your insurance company will need to carry out its investigation to ascertain the causes of the loss suffered and to determine the extent of the losses. This assessment will be carried out mainly by the insurance company’s loss adjuster. As the name suggests, the loss adjuster’s job is to protect the interests of the insurance company and to ensure it only pays you for losses where necessary. This is why you need to have your loss assessor.
Offer and Claim Payment
After the steps above and it is revealed that you have a genuine claim, your insurance company will normally make you an offer. At your acceptance of the offer made, the company will make payments to you for your losses.
Final Thoughts
Following the above 5 steps will help you in successfully making an insurance claim. Many persons in the time past have lost out on the opportunity to recover little or all of their losses due to not making claims for their losses or for making wrong claims. You would not want your insurance company to dismiss your claims or reduce them greatly on technical grounds or simply based on your inability to provide them with the true details of your losses.
Featured image source: Insurance: The Basics |111
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