Time Is Money: The Importance of Prompt Claims Reporting
You snooze, you lose. The cautionary tone of that idiomatic phrase applies with special power when it comes to filing an insurance claim.
When an event occurs that results in the need to file a claim for recovery of property, loss of income, or any other form of damage, the longer it takes to collect the required documentation, the more complicated an eventual settlement can become. It only makes sense – why not get all the facts together, in written form, substantiated with additional verifiable forms of evidence, as quickly as possible, while the information remains fresh and more easily documented?
Trying to recollect and reconstruct the details of an accident, theft, fire, water damage, and so forth, may leave out key facts, lost to faulty memory or lack of visual proof long after the fact. And when such seeds of doubt or omission get planted, recovering the full value of what had been lost faces hurdles – obstacles that could have been easily avoided.
In preparing to file a claim, first check with your insurance carrier to make sure you understand all of the documentation and other standards of proof that may be required. Collecting the full complement of documentation is absolutely vital in helping the claim get processed and paid as seamlessly as possible – and the faster it’s submitted, the better.
They say speed kills? Not in this scenario. Here, delays can cause all the problems. The very fact that you need to file a claim means you have already suffered a loss. The recovery from that loss should not become another source of hardship, delay, or frustration. Get your information together, make sure your insurer is on board and guiding you through the process, and get back on your feet promptly.
Contact the professionals at The Reschini Group for more information and direction on this subject.
Copyright 2023 The Reschini Group
The Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.
