| You have paid you insurance coverage premiums for | | | | hopes the net result will be you give up because of |
| years without a claim. Now you have a claim, and are | | | | the stress in continuing the fight or settle your claim |
| confident the insurance company will pay you the | | | | for less than full value. |
| value of your claim immediately. The insurance | | | | The final component of this strategy, defend, often |
| company agent assured you that the policy fully | | | | begins with a low-ball offer. Some insurance |
| covered you when you purchased it. | | | | companies have presented offers as low as $50 to |
| Reality versus your assumptions is about to set in. | | | | claimants. Insurance companies have developed |
| You have reported your claim and have provided all | | | | effective protocols for dealing with specific claims |
| the requested details to your insurer. You wait | | | | through experience and case law. |
| patiently for confirmation of coverage. Sadly, you | | | | There are certain ways of protecting your claim: |
| may be more likely to receive a letter denying your | | | | - Read your policy thoroughly and be sure you |
| claim than a check. | | | | understand what you are entitled to receive; |
| Many of the insurance giants instituted a policy of | | | | - Involve a lawyer as soon as practicable; |
| denying claims in an effort to become more | | | | - Fill out forms carefully. A honest mistake can be |
| profitable. To encourage adjusters to find creative | | | | used by the insurance company to deny your claim; |
| reasons to deny valid claims, some insurance | | | | - Write letters or send emails rather than make |
| companies started an incentive program where | | | | phone calls to the insurer. Everything you say needs |
| employees were rewarded for finding reasons to | | | | to be on paper as proof if you have to fight for |
| deny a claim. Common reasons for denial include | | | | your settlement; |
| paperwork errors and expiration of time periods for | | | | - If the insurance company sends you a check for |
| submission of documents. | | | | premium refunds because they are canceling your |
| Insurance companies have two major reasons to | | | | insurance, do NOT cash the check. If you do, this |
| delay payment of claims. The first is, if the | | | | may be seen as agreement with the insurer's |
| settlement is delayed long enough, there is a chance | | | | decision; |
| the policyholder may die before payment is made. If | | | | - Do not give up. Perseverance may win the day |
| the policyholder dies, the process for collecting the | | | | even if it takes a long time. |
| funds becomes more difficult. The second reason is | | | | - Involve your Insurance Commissioner's office if the |
| the longer the insurer delays in making payment, the | | | | problem warrants it. |
| more time the insurance company has to hold onto | | | | If your insurance company is utilizing the "deny, delay |
| premiums and earn money on their investments. Not | | | | and defend" strategy against you, it is strongly |
| only do insurance companies delay payments, they | | | | recommended you contact an experienced insurance |
| also attempt to delay court proceedings. The insurer | | | | attorney to protect your rights. |