It is important to understand the rights and duties under each policy. Some policies may only require proof to be submitted after an insurer demands it, while others demand the proof to be submitted within a certain time frame, following the loss’ occurrence. When the proof is not submitted on time or following outlined obligations, it can delay recovery for months or even years! We have dealt with a great many issues related to poor documentation. Here are some of the most common proof of loss mistakes we find.
Read the Fine Print in Proof of Loss Forms
Details are vital in insurance claims, as they are in many other parts of life. Frequently, customers can neglect to include their signatures on proof of loss forms, giving the insurer the opportunity to reject claims. Ensure that these technical standards are met each time a proof of loss form is filed in order to move the claim forward.
Be Aware of the Laws in Your State for Proof of Loss Forms
It is critical to be familiar with and comprehend the jurisdiction’s laws where you practice your business. While the policy terms may spell out what each party’s responsibilities are, state laws normally take precedence. If a policy requires a proof of loss to be completed within a month of an insurer’s demand but a state statute requires it to be submitted by two months, the statehood’s jurisdiction takes precedence. Keep in mind that an insurer is not required to adjust time limits on filing a proof of loss to the timeframes set forth in the jurisdiction’s statutes, although they are free to do so. In the case above, if the policy provided a month and a half for filing, the policyholder would be legally allowed to advantage of an extra month’s leeway in submitting the appropriate documentation.
Request an Extension on Proof of Loss Forms if Necessary
If the proof cannot be completed within the stipulated timeframe, the insured should request an extension. Because estimates aren’t always complete or the harm isn’t completely understood, acquiring a later submission date often becomes the best option for ensuring that the correct information is included in the proof of loss form.
Document Proof of Loss Forms on Paper
It is also critical for homeowners to speak with insurers and to document any verbal discussions that occur between all involved parties. If questions about a waiver or extension arise later in the claim, possessing documents in writing will reduce the chattering that could otherwise ensue.
Engage Stone Claims Group to Maximize Property Value
Claiming damaged property is not a common occurrence in most people’s lives, and tiny errors can lead to major issues in the future. If a policyholder has not already done so, they should carefully consider retaining professional assistance when an insurer asks for proof of loss. By enlisting the assistance of a professional attorney or public adjuster, you can evade common mistakes and achieve a timely settlement.
Stone Claims Group is eager to help you maximize the value on all incident-affected properties you own. We serve satisfied customers from coast to coast and see the situation from your point of view to get you the best recovery possible. Get in touch with us now for a free quotation!