You may be surprised to learn that insurance claim settlements are not simple. We have compiled some useful tips to make your claims and appeals go smoothly.
A general principle is to have a plan in place, with a timeline for each stage of the process. A solid strategy can help you manage these stages successfully. It’s always important to keep a record of your claims, even if it isn’t relevant to your case. This will help you avoid making costly errors that you might have otherwise made. Remember, the most important task is the settlement process, which should never distract from addressing your other concerns.
If you think you need more extensive legal support, or want an advocate involved from day one, the following information could also assist. Your lawyer may be able to work with a consultant like ours who can provide valuable advice on insurance claims and disputes.
Let’s start by looking at what types of claims there are in the United States. In addition to general coverage, there are several classes of coverages that we may focus on here. These include liability, bodily injury, property damage and medical payments.
Liability Coverage
Liability coverage protects against any lawsuits stemming from harm to someone else. If you injure someone else while falling down stairs, for example, you would be covered under this coverage. Under this type of policy, the insurer must pay for the costs of treatment, whether they occur during the course of your claim, before deductibles or fees. The exception to liability coverage is if injuries were caused by a criminal act.
Liability coverage is very broad and the wording of this coverage varies depending on the law of your state. For example, there may be no deductible if the situation qualifies as either a “perilous peril” (such as jumping off cliffs) or an accident.
Your health insurance company could offer additional protection against medical bills for a variety of conditions. However, coverage under Health Maintenance Organization (HMO) plans may still include certain medical expenses. Generally, HMO benefits are limited to emergency room visits because of the high cost to treat them.
The most common form of HMO coverage is called Preferred Provider Networks.
Bodily Injury Coverage
Bodily injury benefits are similar to liability coverage except they will not provide compensation for physical pain and suffering. Bodily injury coverage covers specific events such as car accidents or slips and falls. If you get sick while traveling to another town, you may be eligible for reimbursement for medical expenses. Additionally, coverage may be available if you experience death or permanent disability due to your injuries. Finally, if you file litigation against your insurer, then your coverage may include funeral coverage and burial expenses.
Property Damage / Personal Property Protection
Property damage coverage provides financial protection against any property destruction caused with the use of fire, electricity or water. Common examples include theft and vandalism. While property damage coverage does not include emotional distress, it does provide monetary relief if you suffer from economic loss. When applying for personal property protection coverage, you may want to consider having your home appraised before purchasing anything.
Medical Payments
Medical payment benefits are specifically designed for people who are injured while receiving or giving birth. Medical payment coverage includes hospital stays, doctor appointments and prescription drug refills.
Under this type of insurance, if you are unable to return to work during your recovery period, your company may cover the wages lost while you wait for treatment or seek alternative accommodations. Also known as workers’ compensation claims, medical payment claims should be handled by an experienced worker’s comp attorney.
Liability & Workers Compensation
Liability and workers compensation insurance are often combined. Liability covers you if someone causes harm to a third party, typically a coworker or co-worker. Then, workers compensation covers expenses related to illness or injury caused by the same cause. Both types of insurance are available under different policies. An employee-owned business can benefit from both types of insurance.
In order to find out what types of insurance companies cover your needs, you may want to check with local government officials, businesses, doctors and hospitals. There are many ways to get the right kind of coverage for you. Let us know which one works best for you!
