NINE DIFFERENT TYPES OF INSURANCE CLAIMSLast updated on: October 13, 2022
There are many different types of insurance policies and subsequent claims. The type of claim will vary depending on the facts of your specific case. For instance, if you have been injured by a drunk driver, you may submit a third-party claim against the drunk driver’s car insurance company.
If you have been injured and are unsure of the type of claim to submit, contact Zinda Law Group today. Call our team at (800) 863 5312 for your 100 percent free consultation. You will not pay anything unless we are successful in winning your case.
What Are Insurance Claims?
People purchase insurance to protect against the unexpected, whether the unexpected is an illness, car accident, property damage, fire, or natural disaster. While some policies are optional, such as business interruption insurance, other policies are required by state law, such as minimum auto coverage.
A claim is a type of request from the policyholder to the insurance company asking for coverage or compensation for a covered loss. These claims are typically used to pay for health care costs or to repair damaged property.
You can think of claims like an IOU to cover your bills from damages that are made out by the insurance company you pay monthly for.
Understanding Different Types Of Insurance Claims
There are many types of policies that cover many contingencies for loss or damage; these policies include:
Health Insurance Claims
When you file a health insurance claim, you are essentially requesting to be reimbursed for your insured medical care. In many instances, the medical professional will submit the claim without your direct involvement.
First-Party Insurance Claims
These kinds of claims are from the policyowner, or the individual who is insured, against the insurance company. These may include, but are not limited to, health insurance or homeowner claims.
Third-Party Insurance Claims
A third-party claim is filed by someone other than the policyholder. For example, if you are in a car accident, you may file a third-party claim against the other driver’s insurance company.
With a homeowner claim, the policyowner is requesting the insurance company to cover their home and property damage. You may submit a claim for hail damage, for example.
Car Insurance Claims
When you file these claims, you are asking your insurance company to compensate you for the damages to your car. Different claims may be for repair or replacement of the vehicle, robbery, vandalism, or hailstorms.
Rental Insurance Claim
These claims are typically submitted by a tenant for personal property coverage, liability insurance, or additional living expenses.
General insurance covers a wide range of accidents and is often seen in businesses. Claims may be submitted for business interruption, data breaches, worker’s compensation, or professional liability, for example.
Natural Disaster Insurance Claim
Natural disasters are not covered by all homeowner policies. Instead, natural disaster insurance goes beyond standard coverage. These types of claims are submitted by the policyowner for damage caused by floods, earthquakes, hurricanes, and similar events.
Life Insurance Claims
These kinds of settlement claims are an agreement between the insured party and the insurance company. The company will pay the sum assured in the contract to the beneficiary after the death of the insured individual.
Before filing a claim, it is important to know what your policy covers. Contact Zinda Law Group today to discuss your specific claim.
How Do Insurance Claims Work?
No matter the type of claim, there are typically three different steps to take when filing a claim:
- You must report the accident or type of incident to the insurance provider.
- You then wait for the provider to appoint a claims adjuster. The adjuster will then evaluate the damage and tell you how much the provider will pay.
- The insurance company will then send you a settlement amount for the amount they agree to pay.
Every claim is different, so the claims process may vary, depending on the facts of your case. If you have any questions about how your claims process will proceed, contact Zinda Law Group today.
Accidents And Injuries: Filing A Claim With Your Company
When filing a claim with your insurance company, you should keep certain tactics in mind to receive the maximum amount of compensation. These tactics include:
- Gather all necessary information, including medical documents and police reports
- Don’t give companies more information than necessary, as it may reduce your compensation amount
- Work with adjusters to determine damage amounts
- Contact your attorney before accepting a settlement. Working with your personal injury attorney can help ensure you will not accept an unfair settlement offer.
Contact Zinda Law Group today if you have any other questions regarding filing a claim with your specific coverage company.
What Is A Bad Faith Insurance Claim?
Insurance companies must act in good faith and fair dealing when processing claims and paying settlement amounts. When companies fail to do so, a bad faith insurance claim may be brought against them. This type of claim may be brought when the company is unreasonably denying payment, unreasonably delaying payment, or is failing to settle a lawsuit.
A Zinda Law Group attorney can help analyze your specific situation and determine whether an insurance company is acting in bad faith. Contact our team today to discuss your case. It’s important to have a lawyer at this step if you suspect an insurance company is acting in bad faith as they’ll be more experienced in dealing with negotiations.
How Do I Know If My Insurer Treats Me Fairly?
Insurance companies are covered by regulations in every state which dictate their duty to handle a claim. Failure or refusal to honor a policy or pay a valid claim will often allow the policyholder to bring a legal action for their loss or damages including attorney’s fees.
The state of Texas is no different. The Texas Insurance Code requires these companies to act in good faith and investigate. Insurance companies are required to follow these conditions when dealing with any claim:
- Investigate claims promptly
- Communicate the status of the claim to their policyholder
- Pay any undisputed portion of claims promptly
- Provide a reasonable explanation when a claim is denied.
If you have submitted a claim within the state of Texas and believe the insurance company is not acting in good faith or treating you fairly, contact Zinda Law Group today. This may mean the company is not adequately investigating your claim or is denying your claim without a reasonable explanation. Our team can help with these concerns, and more.
How A Lawyer Can Help With A Fair Settlement
If your insurance company hasn’t dealt with you fairly; if they have denied or delayed payment, you need the experienced attorneys at Zinda Law Group to get your claim paid. We have successfully represented many clients in disputes with their coverage companies. Just check out our client testimonials, then call us for a free, no fee consultation and let us get you the justice that you deserve.
Call a Zinda Law Group personal injury attorney today at (800) 863 5312 to set up your free initial consultation. You do not have to worry about paying us anything unless we are able to win you compensation in your case. That is our “No Win, No Fee Guarantee.”