What to Do If You Dont Receive Insurance Payments Owed to You
If you’re an insurance adjuster, you know how hard it is to get your hands on payments owed to you. Tracking down payments is a constant labor of love and one that often falls by the wayside as you try and handle other, more pressing matters.
Many insurance companies work with clients and businesses to process payments and settle cases. But what happens when a bank or other institution freezes your payments?
And if you’re not an insurance adjuster, what happens when you never receive insurance payments owed to you? What do you do to demand answers from a recalcitrant institution or insurance company?
Review Your Policy
Take the time to carefully read through your insurance policy to understand what it covers and when you can expect to get paid. Pay close attention to any special rules, restrictions, or requirements that may apply. By reading the policy, you can better decide if the amounts you expect align with what was agreed upon.
Contact the Insurance Company
Contact your insurance company’s customer service staff or your insurance agent. Explain the situation in detail, including the date of the accident or event, the number of your insurance, and any claim reference numbers you may have.
Ask about the state of your claim and why you have yet to be paid. During the call, write down the name of the person you spoke with and any information they gave you.
Document Your Communication
Keeping a full record of your interactions with the insurance company is important for keeping track of the status of your claim and putting together a timeline. Write down the date, time, and length of each phone call or email.
Include the names and job titles of the people you talk to and a brief account of your discussion. These records can be used as proof if you need to raise the situation or go to court later.
Follow Up in Writing
If your initial contact with the insurance company doesn’t resolve the issue, sending a formal written complaint is important. In your letter or email, clearly and concisely describe the problem, emphasizing your expectations and desired outcome.
Include any supporting documentation that substantiates your insurance claims, such as photos, receipts, or medical reports. Reference your previous conversations and request a written response within a specific timeframe, usually 10 to 15 business days.
Escalate the Complaint
If you are still waiting for a satisfactory response or the situation remains unresolved, consider escalating your complaint. Contact the insurance company’s supervisor or manager and explain your concerns. Ask for their assistance in resolving the matter.
Consult an Attorney or Insurance Regulator
If you can’t get the insurance company to work with you to solve the problem, you should talk to an attorney who deals in insurance cases. They can advise you on your case and help you determine what to do next. You can also go to insuranceclaimhq.com, a website with a lot of useful information and tools for dealing with insurance claim issues.
Take Action for Your Insurance Payments
If you don’t receive the insurance payments you owe, taking swift action is important. Contact your insurer and claim agent to appeal the decision, and consider hiring a lawyer if your appeal is unsuccessful.
Don’t wait too long to act! Ensuring you get the insurance payments you owe will give you the financial security you need.
Did you find the information in this article useful? If so, make sure to check out our blog for more helpful resources.
