What Does Out Of Network Mean?

PPO and HMO health insurance plans use a network of medical service providers. These providers agree to abide by network rules, and of course, network price guidelines. So these providers, like doctors, hospitals, and therapists, agree to accept network charges for various medical services. In return, they may get more business from the many insured people who belong to that network health insurance plan. Most of the time, insured people get a book or website where they can look up network providers.

HMO plans usually clearly state that they will not cover medical services by providers who are not in the network (i.e. Out of network providers). Of course, HMO plans will usually authorize out of network charges in the case of an emergency.

PPO plans are different. They usually provide more coverage for services provided by network providers. But a big part of their attraction is the fact that they advertise flexibility. They will cover a larger percentage of the bill when network providers are used. But they also state, in the policy, they will cover non-network providers, but at a lower rate.

These are some examples of a (fictional) PPO Policy:

• Network Doctor’s Office Visits: $30 Copay
• Non-Network Doctor’s Office Visits – Covered at 70%
• Network Emergency Room: $100 Copay After $300 Yearly Deductible
• Non Network Emergency Room: Covers 70% After $300 Deductible

So a network doctor would cost a simple $30 copay. If a doctor’s office visit costs $150 in a certain area, a consumer would have to pay $45. That doesn’t so bad because a covered person has the option to pay a little more to choose any provider, or pay a little less to use a network doctor. But is this how it really works out?

Let’s look at the second case. In theory, a person who has not spent any money towards their deductible, would pay about $400 for a $2,500 visit to a network emergency room. But, in an emergency, who bothers to figure out which emergency room in in their network? The non-network bill should not be that much higher, at about $660. This does not seem so bad, but again, is this how the bill will really be calculated?

Insurers Only Pay Non-Network Costs Based Upon Their Calculations

The problem is that many insurers kept a private database of their estimation of what medical services would cost. These are called usual and customary costs, and insurers kept a database of medical service prices that was based upon a secret formula. Claims that these estimates did not reflect reality made it to court and the US Senate. One US Senator went so far as to call this scheme insurance fraud. But this is insurance fraud of a different kind, one actually committed by an insurance company!

Is Health Insurance Company Pricing Accurate?

One major insurer, in particular, has been accused of setting unrealistic prices for medical service in order to force consumers to pay more of the costs. This insurance company claimed that average medical cost of a doctor’s office visit in NYC was $100. But consumer groups content that $200 would be a more realistic figure. I know that, even in my Texas suburb, a doctor’s office can cost more than $100! Even though I do not claim to have the data, I cannot imagine that New York City would be cheaper.

How Does Pricing Really Work For Covered People?

Look at our examples above. A non-network provider would still cost the copay of $30. For non-network providers, the insurance company would only cover the first $100 at 70%. So the insured person would pay $30 (30% of $100) + $100 (the amount the doctor charged over the amount the insurer said they should charge)! While the insurance company only pays $70, the consumer would be responsible for $130.

When you take our emergency room example, where costs would be much higher, consumers would end up paying lots more. If they underestimate doctor’s office visits by 50%, can we assume that they underestimate all medical services by a similar percentage. Now we are looking at overages of thousands, and not hundreds, of dollars! And we haven’t even looked at actual hospital admission costs where overages could be thousands, or even tens of thousands of dollars.

Major Insurers Agree to Evaluate Health Care Prices

Perhaps understanding that now, when the idea of a US public health insurance plan is gaining momentum, is no time to come under scrutiny for deliberately underestimating costs, some major health insurance companies have agreed to evaluate their pricing systems. They have also agreed to be more transparent about the way they estimate medical service prices.

What Can You Do About Unfair Payments?

If you do not think that your own health insurance claim was settled fairly, you have a right to dispute it. Of course, the size of your complaint will probably determine how far you want to push it.

1. Call your insurer or insurance agent - sometimes miscoding or other errors cause underpayments, and those can be resolved quickly.
2. Call or write your state insurance department -  they exist to protect consumers, and they do look into complaints and inquiries.
3. Speak to a lawyer - many lawyers provide free consultations, and many will also represent you for a percentage of the lawsuit if they accept your case.

Look For A Fair Health Insurance Company

If your health insurance company does not satisfy you, you certainly have a right to shop around. We make it easy to compare health insurance with our fast, safe, and free health insurance quotes.

What is a Life Settlement?

People can sell their life insurance policies to a third party for less than the face value of the policy. The third party hopes to profit by collecting the proceeds when the covered person passes away. Typical sellers are retired people who decide the cash settlement will be more useful now, while they live, than it will be to their heirs when they pass away.

For example, a policy owner could have a million dollar whole life insurance policy. Assume the policy has a cash value of $100,000. A third party may offer half a million dollars to buy the policy.

Of course, that amount is considerably more than the amount the covered person could cash his or her policy into the insurance company for. But it is still less than the third party would collect upon the policy owner’s death. In addition, the purchaser would continue to pay the premiums. If the policy owner can use the money for retirement expenses, and also be relieved of paying a premium every month, this may be a reasonable transaction.

Life Settlement Offer Amounts are Decreasing

Apparently third party purchasers depended upon credit in order to finance life settlements, and as credit got tight, sales declined by 20%. Meanwhile, the S&P 500 stock market index has declined by almost 40%. Many retirees depended upon market investments for income, so now the life settlement market has more sellers than buyers, and buyers are pickier about which policies they will purchase.

In the past, a healthy 65 year old could sell a large policy, even though the purchaser would not expect to collect the death benefit for 15 to 20 years. But morbid as it is to consider, polices from older people with shorter life expectancies will be more profitable for the buyers.

Life expectancies affect the life settlement market as much as the economy does. Many underwriters have increased their life expectancy calculations over the last few years, which means that possible purchasers may be even less likely to offer a settlement to younger retirees.

Should Policy Owners Still Seek Life Settlements?

Life settlements are controversial, but can still benefit some retirees who may be struggling financially. When the economy improves, the market for policies may improve, so if possible, it may be better to wait.

Even though people on all sides of the political spectrum admit that the US health care system cannot serve the needs of many citizens, reform keeps getting stalled. One of the big problems has been getting all of the different players to compromise. Health insurance companies, business management, medical providers, legislators, and of course, consumers, all had their own interests, and nobody could get them to put those interests aside in order to achieve positive change.

Many US Workers Do Not Have Health Insurance Now

We have made some progress. Right now almost all US retirees and 90% of children have coverage. But amazingly, 1 in 5 US workers, the people who pay taxes to support health programs, do not have a health insurance policy. These uncovered people do not have a group medical plan at work, and they cannot afford individual major medical insurance. And this number has grown from about 1 in 7 workers who did not have health insurance in the 1990s.

Will Health Insurance Companies Help?

But private health insurers, that group that was one of the opponents to changes in the health care system, may be showing signs of compromise! Again, their recent flexibility may be a desperate move to keep the government from creating their own public health care system that would compete with private companies.

However, in a startling move, two large insurance groups have recently said that they may be willing to give up the practice of rating applicants by risk. Right now, people with preexisting health conditions must pay a lot more for individual health insurance than very healthy people. In the industry, this is called a “rate up”. Many uninsured Americans have health conditions, so they either cannot afford health insurance, or are simply declined by individual insurers. We assume that any planned government health program would be open to everybody without any risk rating.

Is This Compromise Enough?

This does not help everybody. I do believe that making health insurance more affordable for people with certain health conditions will reduce the problem, but it will not eliminate it. I still have some questions for the insurers and legislators.

Hope For Health Reform Compromise

• Premium Rate-ups apply to people with minor and controllable health conditions. But what about the millions of people who would be declined for health insurance because of more serious health issues?
• Does this lack of risk rating mean that everybody’s premiums will go up even more?
• Will there be government subsidies for people who still cannot afford the premium?
• What about small business owners who often suffer from risk rating of their small health plan groups? Will this practice also be offered to them so more small companies can offer a group health plan?

I am a little more optimistic because the insurers addressed the issue, which means they are thinking and talking about it. But I still do not think that this solves the problem. So the answer leaves me unsatisfied, and I hope next time they are willing to move a little further.

In the movies they are played by Pierce Brosnan and Gene Hackman and justify art stealing or snatching of old Nazi German gold. In real life however they are unattractive and miserable figures devoted to the unglamorous and unforgiving life of insurance frauds. They do not have punch lines or happy endings, but their actions speak of great intelligence and/or tremendous stupidity. Here are 10 rascals that are the masterminds behind the most outrageous insurance frauds our time has ever seen. You decide who is who.

10. Tramesha Lashon Fox – Gave A for Arson

Tired of paying the bills on her car, high school chemistry teacher Tramesha Lashon Fox offered two of her underachieving students the grade A if they would “steal” her car and set it on fire. Naturally the two students took the offer but must have screwed something up. Fox not only lost her car, but also her job and freedom in the process.

9. Dr. Andrew Cubria – 750 unnecessary operations later

He may not have won an award for one of the largest fraudsters, but he was one of the cruelest. This cardiologist made a living by performing invasive, painful, and dangerous heart surgery on perfectly healthy people. He paid recruiters to visit homeless shelters and public housing to find indigents, seniors, and drug addicts. These vulnerable people were paid cash to show up at his clinic to submit to a battery to tests, and finally, invasive heart procedures.

In fact, he performed 750 operations on healthy people, and 2 of his “patients” died. He worked at Chicago’s Edgewater Medical Center, and federal prosecutors did not believe he worked alone. All of these illegal, unnecessary, and dangerous procedures were performed to defraud health insurance companies and public health services of millions of dollars.

8. Charles Gavett - The 9/11 Scheme

Charles Gavett did not get famous for the size of his insurance fraud, but for his audacity and bad taste. While most of the US grieved for the dead, Gavett claimed that his wife, Cindy, died in the World Trade Center attacks on September 11, 2001. However, she was really alive and safe in their home. They lived in a fairly small community, and their plans to collect $200,000 from their mortgage life insurance policy were thwarted when neighbors reported they had seen her in town since the attacks.

7. Curtis Donald Keene – Burried his cotton picker

This Georgian farmer managed to bury his cottom picker, a monster of eight ton, in an attempt to claim some insurance money.

6. Sex, greed and $200 million

Martin Frankel’s story contains of sex, greed, and a $200 million dollar fraud. Considering this and then how Frankel looks, we just had to include him on this list. He was fired from one of his first jobs, in the 1980’s, for misrepresenting himself in electronic trades, but by that time he had managed to impress the brokerage owner’s friends, and he had even taken the brokerage owner’s wife as a mistress.

One of these friends staked Frankel with their own savings and Frankel continued to suck investors into his schemes. By the end of this career as an insurance fraud, Frankel had about $205 million and two loyal mistresses to show for it.

5. John Stonehouse – the master of cheesy staged suicides

The british Labour politician with teeth hygiene like no other, John Stonehouse did what any man with debts and a whining wife would do. He staged his suicide and fled to Australia to start a new life with his mistress. The suicide was especially dramatic as he left nothing but his clothes on a beach to make it seem like drowning. Stonehouse was later arrested and convicted of insurance fraud.

4. Carla Patterson – The dead mouse in soup incident

Cracker Barrel once received a complaint from a customer named Carla Patterson. She had found a dead mouse in her soup, thus accusing the restaurant company of violating obvious health regulations. In it for her was $500,000 in insurance money from the restaurant. But when the mouse turned out not to have any soup in its lungs and had not been boiled, Patterson abandoned her claims and received one year in prison.

3. Ronald Evano – The glass eater

Boston resident Ronald Evano actually ate glass to convince his insurance company to pay up. Evano stated that he found the glass in the food and beverage he was eating. The insurance company did not fall for it and sent Evano packing for a 62 month jail sentence. Next time maybe he should try a simpler con.

2. John Darwin - “I think I’m a missing person”

In 2000, John Darwin went missing during a canoeing trip. Assumed deceased by the police Darwin’s life insurance was collected by his wife and life went on to see another day. Five years later a man showed up at a London police station claiming he had amnesia and under the belief of being a filed missing person. As it turned out this man was no other than John Darwin, who after half a decade hiding in Panama could no longer fight his longing for good ‘ol England.

Darwin had thus faked his own death, together with the misses, so that she could collect John’s quite wealthy life insurance. They had not told anybody, not even their children who genuinely thought their father was dead. A well planned life insurance scheme, unveiled only by a photo of the couple in Panama after Darwin’s disappearance.

1. Antoinette Millard – The Saudi Princess from Manhattan

No doubt suffering from poor psychological health, Manhattan girl and investment banker Lisa Walker one day decided to take on the fake and fictive identity of Antoinette Millard – a Saudi princess who had converted to Judaism. In addition to intense mingling with the New York social elite, Millard also tried to convince here insurance company that she had been mugged on jewelry worth $262,000. Princess Millard became such a social phenomenon in New York that even magazine New York Social Diary mentioned the princess.

When the insurance company finally filed the princess’ insurance claim as fraud, Millard confessed her elaborate scheme, blaming it on anything from 9/11 to her rough childhood.

Many people worry about losing health insurance if they change jobs or become unemployed. Luckily, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) and the Health Insurance Portability and Accountability Act (HIPAA) offer some protection. However, you need to know exactly how these acts affect you before making any major life changes.

Health Insurance for the Unemployed

According to COBRA, you have the right to continue the same policy that you have through your employer for up to 18 months after you become unemployed. This will protect you while you look for another job.

You get the same coverage, but in most cases, wind up paying more. The good news, however, is that you get to pay a discounted group rate instead of the higher costs of an individual plan.

Keeping Health Insurance When You Change Jobs

HIPPA protects you from losing your health insurance when you change jobs. Before this act, employers could refuse to cover new hires because they had pre-existing health conditions that would increase their group rates. This made it difficult for people to change jobs because they feared the inability of finding comparable health insurance. Now, however, employers cannot refuse to extend the same coverage to you just because you or a family member already has a health condition.

Filling Gaps in Insurance

Many companies have probationary periods for new hires. You might not qualify for any employee benefits, such as health insurance, during this time. Probationary periods vary from company to company, but six months is an average term.

Those who are concerned about losing health coverage during this time should contact private insurance providers to discuss temporary or limited plans. Many companies have plans that limit coverage to emergencies. These plans are frequently called “broken leg insurance” because they only pay for significant injuries.

If I Change Jobs Or Become Unemployed, Can I Take My Health Insurance Coverage With Me?

• COBRA allows people to maintain the same level of health insurance coverage for up to 18 months after leaving an employer, but they usually have to pay higher rates.

• HIPPA ensures that employees moving to a new company can get the health insurance coverage they need even with pre-existing conditions.

• Private insurance is often an affordable way to protect yourself during employee probationary periods.

In case you do not know the history of American International Group (AIG), and its financial problems, let me give you a brief summary. AIG is a a huge American insurance company, but it also maintains international branch headquarters in cities like Paris, London, and Hong Kong. In fact, Forbes listed AIG as the 18th largest public company in the world.

A Brief History Of AIG’s Recent Financial Problems

Last year, AIG’s credit ratings suffered a downgrade below AA levels, causing a massive cash liquidity crisis. In response, the government declared that AIG was “too big to fail”, and so the US Federal Reserve created a multi-billion dollar cash reserve account for AIG to draw on so they could meet their obligations. Later last year, the government increased that package to be worth almost twice as much. Even though the action was controversial in our free market, we have to keep in mind that AIG is the largest US commercial underwriter. They are also a very big player in the life insurance market.

The money did not come with out any strings attached, though, and the federal government received a large equity stake in the troubled company. In other words, we American taxpayers purchased a large stake in AIG if we wanted to or not.

Do People With AIG Insurance Need To Worry?

One of the most common questions I get is from people who are concerned about their coverage with AIG products, or even about insurance from other companies. However, I am quite certain that people who purchased coverage had no problems with their claims or policies. Drivers with AIG car insurance or individuals with AIG life insurance still have their coverage in place.

Insurance is one of the most highly regulated industries in the US, and covered individuals and businesses should be well protected. Every US state has some sort of guarantee plan for policy holders. But still, if a company as large as AIG were allowed to fail, it could do incredible damage to the states.

If you do have individual concerns about your own policy, please talk to your insurance advisor or state insurance department.

What About Investors?

Investors may not do well. In order for them to see any future returns on their investments, AIG has to begin to perform well again. On March 2, 2009, AIG reported the largest one quarter loss in corporate history. While we all hope that the economy turns around soon, investors may be pessimistic. Insurance regulations that protect insured people will not apply to individual investors.

What About American Taxpayers?

Right now, we taxpayers may be as pessimistic as investors. In addition to a huge loss, we are hearing reports of huge bonuses being paid out to the very people who were in charge during the financial problems. From my standpoint as a small business owner, it is hard to understand how losses like this get rewarded. AIG countered that they had to fulfill contract obligations that were made before the company took government credit money.

Will AIG Get More Help?

Right now, polls show that Americans are backing off on supporting more bailout measures. When large companies take taxpayer money to stay afloat, and then reward their executives with parties and bonuses, it is hard for the rest of us to stay sympathetic.

Many Americans are struggling right now. The middle class factory worker who just lost his job and is trying out how to pay his mortgage may not be eager to see his tax dollars go towards more losses and excesses. After all, unlike some of the executives at AIG, that factory worker may have actually been good at his job, and was just a victim of the recession.

I have to admit that we Americans tend to view our shores as the boundary of the world, and most of our concern about the current economic downturn focuses on the US. But this recession has worldwide consequences. One consequence is that international insurance companies predict rates hikes as the economy gets worse. Of course those rate increases will be reflected in the prices that American consumers pay for insurance.

Why does an economic downturn cause insurance rates to rise? Doesn’t that seem counter-intuitive since a soft market should push prices down? That may, indeed, happen sometimes. But insurers claim they need to raise rates during a slow economy in order to remain profitable.

Some Speculation About Insurance Rate Increases During a Recession

Insurers invest the money they receive in premiums. If they cannot get good returns on their investments, they need to charge more.

A softer demand for products may force insurers to increase premiums because less covered people and businesses are sharing the risk for an area.

Insurers can find less capital to invest in the business of risk management, so the demand for that capital increases. This causes the price to rise, and that increase gets passed on to customers.

If you have been keeping up with the economic news lately, some (but not all) insurers may have made some grave mistakes in the way they handled their capital and investments while the stock market soured. Unfortunately, consumers will probably bear the consequences of those errors. Unless you have insurance with a guaranteed premium, like some life insurance policies, you may see rate increases. And if you own cash value insurance, unless the return is guaranteed, be prepared to have a soft year.

On the other hand, you should probably not be concerned about your actual coverage. State insurance regulators keep a close eye on licensed insurance companies, and they have plans in place in case an insurer has financial difficulties.

I do not claim to be an expert on the way insurance companies manage their finances. But then again, I have never lost as much money as some of the major insurers have either. Everybody’s situation, and every company’s situation, is unique. Due your own due diligence, but be prepared to ride it out.

Find Lower Priced Insurance

If you do get notice of a rate hike in the mail, it may be time for you to do some insurance shopping. Our fast and free insurance quote forms can make it simple for you to compare insurance quotes in your local area. Your current insurer may not have the capital to keep their rates low, but another insurer may be stepping up to compete for your business!

We have some good news. Increased education, especially of teen drivers, and better enforcement of DUI (Driving Under the Influence) laws, have decreased alcohol related traffic fatalities. However, each time we have a holiday that is associated with drinking, we experience a very predictable increase in accidents and fatalities. This is so predictable that many state highway and public safety departments release projections, and these predictions prove accurate. This St. Patrick’s Day, please enjoy the Luck of The Irish, and do not allow yourself to become a statistic!

Young People Are Particularly Vulnerable

Did you know that motor vehicle accidents are the leading cause of death for Americans under the age of 24? And alcohol is a major contributor to these accidents. That is why student driver’s education spends so much time emphasizing the fact that alcohol and driving make a deadly mix.

How Much Alcohol Is Too Much To Drive?

If a 160 pound person drank 2 beers an hour, that would give them a blood alcohol limit of .04, which is still well below the legal limit. Still, according to statistics, that person is still 1.4 times more likely to have an accident than if they had abstained.

Add 2 more beers, and that 160 pound person may still be slightly under the legal limit, but would be 11 times more likely to have an accident than a sober person.

And if a 160 pound person finishes off a six pack of beer within an hour, their blood alcohol level would certainly violate the DUI laws, and would make them almost fifty times more likely to have an accident!

You Need A Designated Driver or Taxi If You Plan To Drink

How much does a taxi cost, anyway? How inconvenient would it be to call a friend to pick you up? A taxi probably costs less than the drinks you plan to have, and it will certainly be a lot cheaper than the costs associated with having an accident while under the influence. And your non-drinking friend will probably be happy to have an opportunity to give you a ride, rather than have you risk having an accident, and possibly getting injured or killed. Besides, even if nobody gets hurt, when the police come and charge you with DUI, you will have a serious charge on your record that can follow you around for many years.

Before you go out the St. Patrick’s Day, make transportation plans. If you have not made these plans, most bars will have the number of a good taxi service on hand. These days, places that serve alcohol can be held liable for the actions of their patrons, and they will be prepared to help you enjoy your holiday in a responsible manner.

Car insurance buyers should know that, just as with real estate, location really matters when comparing car insurance prices. Why will a driver pay a different premium if they live in a small community or a large metro area? Of course, insurers keep statistics on the amount of claims in an area, and also the expense of those claims. Insurers want to offer competitive prices, while charging enough to be profitable, and so they use these statistics as part of the formula to calculate rates.

Area Car Insurance Rates May Be Affected By:

• The number of accident thefts.
• The cost to settle accident claims.
• The amount of car thefts.
• Estimates of the number of uninsured drivers.

Of course, individual drivers within an area will pay different rates depending upon other circumstances like their age, personal driving history, and even the type of car on the policy. But given identical drivers, rates in a small town in Iowa will probably be lower than those in New York City or Los Angeles.

Why Would Car Insurance Rates Ever Decline?

Most of us do not expect our rates to decline, even though we would all welcome the lowest possible bill every month! But some surprising statistics have shown, in some areas, rates have declined over the last couple of years.

What Makes Auto Insurance Rates Go Down In An Area?

• Improved Auto Safety Features In New Cars Reduce or Prevent Claims
• Improved Anti-theft Devices or a Reduction In Car Thefts.
• Better Defensive Driving Education.
• Tougher Enforcement of Traffic Laws, especially Driving Under The Influence Laws.
• Increase Competition from Multiple Auto Insurers.
• Advances in Technology that make Insurers More Efficient

Have Your Rates Gone Down?

Well, your area may not be one of the lucky places that get to experience a decline in auto insurance premiums. But you can not always count on your old insurer to offer you the best deal. Another insurer may be working hard to gain a market advantage, and you can save money by finding that company!

It will only take a few moments to compare rates with our fast, safe, and free auto insurance quote forms. ]]> http://www.247quoteus.com/auto/car-insurance-rates-decline-in-some-areas/feed http://www.247quoteus.com/home/home-owners/handling-insurance-claims-on-2009s-rough-winter-storm-damage http://www.247quoteus.com/home/home-owners/handling-insurance-claims-on-2009s-rough-winter-storm-damage#comments Fri, 13 Mar 2009 08:21:37 +0000 Barbara http://www.247quoteus.com/?p=1561 Many people in the US have experienced a rough winter this year, and winter storms do a lot of damage. In fact, the Insurance Information Institute estimates that winder storms caused over a billion dollars in property damage last year. Water damage and frozen pipes, alone, account for 20% of this figure, and the average [...]]]>

Many people in the US have experienced a rough winter this year, and winter storms do a lot of damage. In fact, the Insurance Information Institute estimates that winder storms caused over a billion dollars in property damage last year. Water damage and frozen pipes, alone, account for 20% of this figure, and the average homeowner will suffer $5,000 from burst pipes. In order to make sure that your insurer takes care of this year’s winter storm damages, it is important to take care when making an insurance claim.

Since winter storms do cause massive amounts of damage, and where in fact, the third largest cause of claims in the US, it pays to be prepared.

Have you done a home inventory?

You can find software to help you, but the old method of keeping a notebook with pictures will work too. Keep in mind that a file folder or notebook in your own home could be damaged or lost if your house suffers severe damage. Some internet home inventory software allows you to store your records on secure computers away from your home.

Make temporary or emergency repairs if you have to

If you need to get something fixed right now so you can live in your house or prevent further damage, do not hesitate to do it. But before and after pictures will be a big help. You may want to keep a disposable camera in your emergency pack for this. Be sure and write a description of the damage, the repairs you did, and of course, save your receipts!

Track all of your expenses, including temporary lodging

If you need to find another place to sleep while you are making repairs, make sure you document all of the money you spend.

A picture really is worth a thousand words

Most people do not document their damage with pictures, but a picture (or video) of the damage really will show an insurer you are serious about your claim. Just as a careful job on a school report earned you an A, a good job on an insurance claim will be likely to get your claim handled faster.

Make Your Case To Your Home Insurer

The more documentation you can produce to substantiate your claim, the more chance you have of being satisfied with your claim check. Detailed before and after documentation of your losses would be best. Current home inventory software can handle descriptions, pictures, and even scans of receipts. If you do not chose to use software, a physical file with this information will also work. Again, just make sure you store this file somewhere safe. You may have a safety deposit box at your local bank, and you could keep it there with your will and other important documents.

But if you have not prepared a detailed home inventory, the “after” documentation can still help you make an insurance damage claim. Just describe your damage in detail, and back that description up with pictures if that is possible. You should not have to have a “before” photo of your sofa to prove that it is not usually sitting in 6 inches of water. You may have to accept the adjuster’s valuation of it if you cannot prove the sofa cost $4,500, but you can still make your claim.

The Insurance Information Institute (iii.org) also publishes free brochures that can help you make winter storm insurance claims.

Safety First

Do not be so eager to provide your documentation that you put yourself in a dangerous situation. If you should not enter your home, you should – of course – contact your insurer anyway. Just describe your situation, and a top insurer should know how to handle it.

Is Your Homeowners Insurance Covering You Well?

If you have not been satisfied with your insurer, or really do not know what your policy covers, it may be time to do some comparison shopping. Our safe, fast, and free homeowners insurance quote forms can help you compare multiple quotes from top insurers.