Will I Get an Insurance Payout? 5 Tips for Filing a Successful Claim

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We’ve all seen the commercials. The ones promising large court settlements if you entrust your case to the lawyer of the day. The ones that say that the insurance payout you received is an utter scam and they’re willing to take the fight to court on your behalf.

It’s no surprise that so many people would want in on what they perceive as easy money. The average bodily injury claim payout for auto insurance is over $15,000. And that’s the bare minimum!

However, before you resort to legal action, let’s talk about 5 steps you can take to maximize your returns on your claim.

1. Be a Clear, Open, Honest Advocate

Insurance companies have grown suspicious of those who file claims or contest their payouts. Rightfully so, when many people attempt to scam the system to get more money than they need.

Don’t hide information that might be inconvenient for your claim: It will get discovered. Remain open and honest, but don’t roll over and accept the first offer they give you if you feel it’s unfair. You’re allowed to advocate for yourself.

2. Don’t Sign Any Contracts or Forms Without Representation

One key rule to successful insurance claims is not to sign off on anything without a lawyer present. Your lawyer can read over the insurance payout you were offered to ensure that it’s a fair deal. If you sign off on something and later realize that the insurance company pulled a fast one on you, you’ll be hard-pressed to get them to rescind the offer you signed and agreed to take.

3. Document, Document, Document

Whether you’re trying to get a life insurance, car insurance, or disability insurance payout, you need to keep clear records and a paper trail. Document everything. Every phone conversation, every text message, every doctor’s visit, everything.

By that same token, make sure that nothing of yours that gets documented could damage your claim. One of the main reasons people find long term disability insurance denied to them is because they ran their mouth to the wrong person about feeling burned out at their job. Even if you got physically injured at your workplace, believe us, insurers will take your recorded complaints about burnout to turn you into a malingerer.

4. Understand the Wording of Your Policy

Your policy providers and documents use many tricky legal loopholes and wordplay to avoid making an insurance payout. Make sure you understand how your policy is worded so you can beat them at their own game.

5. Make Sure Your Nominee Information Is Correct

Lastly, if you have a successful insurance claim accepted, make sure your nominee information is correct. It wouldn’t do to go through all this effort and not be able to receive the money you deserve.

Want to Learn More About the Insurance Payout Process?

All in all, receiving an insurance payout is all about honesty, documentation, and triple-checking your information. Follow these guidelines, and the process to file your claim should go smoothly. If you’d like to learn more about how insurance claims get processed or other insurance needs, check out the Business section of our blog today.

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