How to File an Insurance Claim

Insurance is a funny thing - you know that you need it, but you hope you never have to use it.

When you do need to rely on your insurance, however, it is a good idea to know what steps are involved in filing a claim. Sometimes, missing just one step can result in an insurance headache that could leave you out in the cold, literally.

Steps for Filing an Insurance Claim

Step 1: Familiarize Yourself with Your Insurance Policy

When it comes to filing an insurance claim, the most important step is to review your insurance policy coverages before you actually need to file a claim. You should know what types of losses are covered and what your deductibles are.

Step 2: File the Claim as Soon as Possible

You should not hesitate to file an insurance claim. As soon as possible, you should alert both your insurance agent and insurance company of the accident or injury in order to get the claims process started. Additionally, some insurance companies have deadlines by when claims need to be filed following an event.

Step 3: Create an Inventory of Lost or Stolen Property

If your claim is related to damaged, lost or stolen property, you should create an inventory of the losses right away. Ideally, you should have created an overall inventory list of your possessions, including estimated values - before the event occurred - if you have such a list on hand, creating a list of actual damaged or lost property should go quickly.

Step 4: File a Police Report

For claims that involve a collision, burglary, vandalism or an altercation resulting in an injury, you should file a police report for the event. Having a police report on hand helps give your claim credibility in the eyes of your insurance company.

Step 5: Make Temporary Repairs Right Away

In cases in which your home is damaged, you should make any temporary repairs that are necessary to protect your home from any further damage. Many insurance companies can assist in coordinating these immediate repairs to ensure their costs fall in line with the policy's guidelines.

Step 6: Stay in Contact with Your Insurance Company

After filing a claim, many people sit back and wonder, "What's next?" You should stay in touch with your insurer in order to know what you should be doing with regard to your claim. Do you need to get a repair estimate for your vehicle? Do you need to hire a contractor? Your insurance company should walk you through any necessary next steps.

Step 7: Get an Estimate on Your Own

Often, an insurance company will provide you with an estimate of what any necessary repairs will cost. Many times, this estimate will be right on, but it does not hurt to get at least one independent estimate to ensure that nothing was inadvertently missed by your insurance company.

Step 8: Document Everything

It is very important to document all of your costs related to an event. You should start a folder, keeping everything related to the claim in one place. Hold on to all of your receipts for items that you had to purchase out-of-pocket. Additionally, you should make copies of everything in the file before sending any of the documentation to the insurance company.