An insurance policy is a
promise to protect you against certain types of loss, but it can't
follow-through unless it knows about a loss. Prompt notification is so
important that it is a formal policy requirement. A policyholder that fails to
meet this obligation could result in a claim being denied.
A policy typically
requires you to do the following:
Contact the agent or insurer as quickly as practical - the practical requirement replaced the
previous use of "possible," since some companies unreasonably denied
coverage because notification was not instantaneous. The difference between
words is important. It allows some flexibility for dealing with circumstances
that could affect how quickly you contact your agent or insurer about a loss.
Identify yourself - Perhaps one day your insurer will be able to recognize your
voice over the phone and immediately pull up your file. Until then, be prepared
to at least tell your insurer your full name (or, if different, the name the
insurance policy is under) and the policy number.
Give adequate details - What, When Where, Why and How. It is important that the insurer
has enough information to take proper action. This information allows an
insurer to open a claim file, assign the loss to a claims person and begin
investigation of your loss.
Provide copies of loss-related materials to the insurer - You should not guess about whether a legal notice or request to be
paid for damages is important, even when an actual lawsuit has yet to be filed.
Send a copy of the information to your insurer and let them decide.
Prompt notification
helps everyone
Complete and quick
communication about losses gives you the best chance to get needed coverage and
gives your insurer an opportunity to handle a possible claim efficiently. It
also allows the insurer to control issues that could let lawsuits gets out of
control, such as the ability to offer payment for medical expenses or to
contact and question witnesses.
Don't hesitate! Contact
your agent or insurer and get your loss handled.
COPYRIGHT: Insurance Publishing Plus, Inc. 2013
All rights reserved. Production or distribution, whether in whole
or in part, in any form of media or language; and no matter what country, state
or territory, is expressly forbidden without written consent of Insurance
Publishing Plus, Inc.
