Insurance companies hire adjusters to take a look at property claims. Here are some things to think about.
Individuals put in property claims when they've suffered some sort of loss. Insurance companies sell policies to protect various items such as homes,
belongings, automobiles and more. When someone puts in a claim to collect after a loss, it's crucial for the insurer to take a look at the situation and make certain a fair settlement is reached. Sometimes there are mitigating circumstances, errors in the claimants' story or even criminal behavior trying to bilk money from the insurance company by making false claims. Here are some things to think about.
- Fraudulent property claims: Insurance fraud is something that happens more often than one might imagine. While many people have the view that the companies try to protect their funds and only pay out when absolutely necessary, they might be surprised to find out that these companies are careful in protecting their assets for good reason. Turns out that many people try to collect money for goods not really lost or stolen or items not damaged, as stated. There have even been cases of murders being faked in order for a beneficiary to collect on a life insurance benefit. The person who was supposedly murdered may instead by relocated to a tropical island somewhere waiting for his or her cut of the cash.
- What adjusters take a look at: In order to decide who is right and what is due to insured individuals, an adjuster is a sleuth or detective who inspects the evidence to make a judgment.
o The policy: Since the fine print in every policy is different, it will be necessary for this investigator to thoroughly read and understand everything that is written in it.
o Learn about the claimed loss: This investigator will need to read up on what happened. Where and when did it occur? Who was involved? This information should be documented in writing and be on file with the company.
o Interview individuals who are involved: The people who lost property will need to be interviewed in order for the adjuster to hear all the details and ask about anything that seems questionable. If there were witnesses, they will be interviewed, as well.
o Proof of loss: There needs to be a legal proof of the loss on file in order for an insured person to collect. These are written and sworn statements that need legal representation to obtain. Proofs of loss are important documents and not something to be taken lightly. If a person lies under oath, he or she is subject to felony charges.
o Documents to be provided: Documents will also need to be provided by the claimant including bank statements, leases, receipts and anything else that might pertain to the claim.
o Photographs: Photographs are usually taken if there are losses in property and housing structures such as after a storm or fire. These will be considered evidence.
o Call police or other authorities: If something was stolen, it will be necessary to file a police report, as well.
Property claims that are filed with an insurance company must be legitimate and investigated by adjusters. When a person is filing an honest claim, he or she should have no problem supplying the needed information.
