subject: Why Property Loss Claims Remained Unsettled? [print this page] Most of the property loss claims are rejected at first instance for want of substance or lack of clarity in presenting the case. Preparing case for compensation is a legal matter but little do the homeowners know about legalities involved in making even a formal complaint. Homeowners are convinced that they would be helped at times of need but the insurers never give a written assurance to whatever they say.
Lets take an example of a homeowner, who has insured his home believing that he could get compensation for even a malfunctioning window. The homeowner fails to understand what has been insured and what it out of the purview of insurance. He approaches his insurer for compensation. He prepares his case and attaches proofs of damage only to know that the damage claimed is not insured. Strange reasons are given by the insurer and the homeowner returns empty handed.
On pursuing the matter, the insurer sends his adjuster to negotiate compensation and the adjuster bullies the homeowner with his knowledge and in this way convinces the homeowner to accept the compensation amount determined by the insurer. Here one thing is clear that the homeowner is no match for the smart insurer and his adjuster.
The case takes a U turn, when the homeowner takes help. Guided by an efficient lawyer, the homeowner files compensation papers and get full compensation, he is entitled for. Many property loss claims remain unsettled because the insuring companies can easily delay the compensation on one pretext or another. Insurers buy time by delaying the matter. The complainant, tired of pursuing the matter to his limit, accepts the compensation amount determined by the insurer after fighting a long battle.
It is learnt that homeowners try saving the lawyers fees by taking their compensation cases on their own. This is the only reason behind so many property loss claims remained unsettled. Insurers waste no time in giving the compensation, if the loss is significant but they delay the matter, if the loss is insignificant.
As a policy holder, you are entitled to get compensation for the damage of your property. First you should go through the policy statement of your insurer and second is preparing the compensation case according to the statement. Insurance is a legal subject and you simply cant deal with your insurer without any help. You can solve your property loss claims easily with the help of an experienced lawyer.
