4 Things To Do When Your Insurance Company Won’t Pay
Having a solid insurance policy is essential as it provides a financial safety net when the unexpected happens. It can help protect your income, home, vehicle, business and much more. However, experiencing a situation where your insurer won’t pay what is due can be incredibly frustrating, especially when you are relying on your insurance company to come to your aid. Sometimes, they may deny full settlement or take care of only a small part. So what can you do? Continue reading to learn about your options.
- Be persistent
Persuading an insurance company to meet its claims responsibilities may be irritating and time-consuming. Most instances should be simpler, and insurance companies handle most disputes and claims legally and responsibly. However, when difficulties develop, maintain contact with your insurance provider through regular follow-ups and complete documentation. Remember that working with insurance companies may be time-consuming and difficult, but with patience and determination, you can acquire the results you require to proceed.
- Carefully read your policy
If your insurance company won’t pay for a claim, it’s important to carefully read your policy to understand the specific reasons for the denial. Insurance policies can be complex and challenging to understand, but reviewing your policy can help you identify potential loopholes or gaps in coverage that may impact your claim. Pay close attention to any exclusions or limitations described in your policy, and work directly with your insurance company to determine if an appeal or other action is necessary to obtain the coverage you need.
- Take advantage of the state regulator
Taking an insurance provider through court proceedings should be your last resort since it can stall a claim for years and significantly delay getting cash to replace a house or pay medical costs. The first step is to try to deal directly with the insurance representative or company provider calmly and patiently while recording the entire process. If they are tough to work with, enlisting the support of the state’s insurance regulator might speed the process along.
- Get the media involved, or reach out to an attorney
What happens if everything else fails? Are you confident that your insurance claim should have been considered, yet it has been denied? You have a last card to play – get the media involved. In recent years, many claims denials have been upturned once the media became involved. Many businesses can’t afford bad PR, especially insurance firms, so keep this in mind. Most will be ready to settle rather than allow the situation to blow up publicly. You can also hire an attorney, albeit the fees may be prohibitively expensive for minor claims. If you are dealing with a premises liability claim, you can work with experienced attorneys like a slip and fall lawyer to get your insurer to pay up.
You can do the above if you have difficulty getting your insurance company to settle claims. You can also refer to a few more resources to assist you with information and support for your deserved coverage and reimbursement.