How to File an Insurance Claim

61 views 6:06 am 0 Comments April 16, 2022

How to File an Insurance Claim

 

To make sure you understand what your insurance company is going to give you if you lose everything or have a lot of damage to your home, you should watch this video.
You should like this video, subscribe to Undercover Architect’s channel, and then hit the bell to be alerted when we post new videos. This video is part of our REBUILD + BUILD BETTER series, so be sure to do all three.
Getting the best results from your insurance claim means that you need to be well-informed about how to deal with the process confidently.
To learn more about how insurance claims work and what to do if you get a cash settlement, watch this video.
I’m Amelia Lee from Undercover Architect, and I’m here to tell you about my job.

Read Also: How to Filing Car Accident Insurance


I also help and teach people how to get it right when they’re designing, building, or remodeling their homes for their family.

In this interview, I talk to David Keane, who works for Solve My Claim, about his company.
He has been in the insurance business for more than 24 years, and he started Solve My Claim to help homeowners with their insurance claims.
More than $24 million (now $35 million) has been paid out to homeowners in the last three years thanks to Solve My Claim.
This is the point. So let’s get started!

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There have been a lot of reports about the fires in Victoria in 2009, and I’ve read them all.
I’ve been looking into what happened after that, and there was a lot of talk at the time about insurance companies rushing people through the assessment process and then giving them checks so that they could walk away from it and move on.

A lot of people who had been through a lot of trauma and lost a lot of things didn’t know how to make good decisions about their future, so they were stuck with what they had and in a much worse situation than they were before the whole thing began.
We’ve been having a lot of disasters recently, so how do you think this could have played a role in them?
And what do you think about how to deal with your insurance company in that kind of a bad way?

[David Keane] Okay.

The 2009 fires, I think, were the Whye River fires.
Yeah, the fires on the Whye River were… interesting.

They were mentioned in the Royal Commission, in fact.
A lot of my cases were down there. The Commissioner took AAMI, in particular, to task because they did things a little worse than the rest of us.
On a policy that didn’t even have a sum insured, they tried to get people to agree to early settlements on the policy.
A complete replacement cover, or CRC, was on the house. In the way it had been advertised, it said that no matter how much it costs us, we’ll rebuild it.
Our builder said it would cost $300,000. We’re not going to rebuild the house, so we’ll give him $300,000.

People were very much influenced by the decisions that were made.
A different insurance company will do things in a way that isn’t the same for everyone.
It’s possible that you won’t get a settlement right away. Some people don’t want to settle right away because they want to make sure everything is done right.
I always tell people not to take the settlement money from an insurance company if it’s easy and quick.
If it’s money for an emergency, that’s not the same thing as cash.

Read Also: The Reason why Insurance Claim Denied


A good insurance company should already have given people $5,000, $10,000, or $15,000 in emergency funds so that they can start replacing their things and getting their lives back on track.
Then, I’m not talking about that kind of payment at all.
In terms of settlements, if it is an easy and quick settlement, but you don’t have proof that the cost is both fair and reasonable, and complete, don’t take it under any circumstances. This is what you should do.

Often, it’s easy to think that “Oh, $300,000. That’s enough money. I bet I can rebuild that.”
So, if you don’t do your homework and then find out that it’s 700,000. You may not be able to get any more, even if you were entitled to it. This is because many insurance companies ask you to sign a release, which you may not be able to get back even if you were entitled to it.

A lot of the things that I say and write about aren’t true just because an insurance company says so.
It doesn’t make it right or wrong, but that’s just how the insurance company sees it.
All of this is yours because you’ve paid a lot of money for insurance over many years. You own your home, and your insurance company is responsible for making sure that it’s safe.

The insurance company is in this business for their own benefit, not for yours. You don’t want to go after them for every last penny and then some more, but that’s not what I’m talking about. An insurance company is in this business for their own benefit, not yours.
And you know that very well.

There’s nothing wrong with that, either.
That’s just business.
For the most part, businesses are in it for the money.
Then, if they give you something quickly and easily, you should think about whether there’s a reason for it.
Are they saving money by not having to pay for all of the assessments, the bushfire assessments, and all of the other things that need to be done? Is this money too easy and too quick?

So I would say that you should always check what you were told, especially when it comes to costs, scopes, or the repair process.
It was Amelia Lee.
That’s a great idea.
If I remember correctly, we went through the storms in The Gap. It was a much smaller project for us than some people in that area, and especially the fires. The insurer came right in and figured out what was going to happen, and then they gave us this small check.

And we were lucky that we had some idea of how much it would cost to fix the damage that had happened to the house. When we started to look at the settlement in more detail, we saw that there were a lot of things that had been left out.
Then, yeah.

[David Keane] said that.
There is no doubt about it.
It was Amelia Lee.
I can just imagine that for people who have lost everything, getting the bandwidth to do that can be very hard for them.
YES! David Keane:
I agree with you. Insurance company staff sometimes forget because they do this all the time.
Your claim is one of about 300 that the claims officer has on his or her desk.

This is so normal for them that it’s not even a question for them.
During the whole process, they know what to expect.

But they don’t remember that you don’t.
People aren’t likely to have been through this before in their lives.
Most people are very traumatized, very stressed, and don’t know a lot about this very specific area of insurance and rebuilding, which is very important.

When someone pays for an expert, they don’t need to know that much because they pay for the expert to teach them that much.
But in some cases, insurance companies don’t think about the needs of their clients, or they don’t think about the fact that the client might say or do things that are technically wrong or technically incorrect because they’re going through so much stress.

They can also be judged for that.
Three months ago, you told us this. Now you say this, what do you mean?
You’re lying, and it’s insurance fraud, so you should not say that.

I’ve been to everything.
For 20 or so years, I worked for the insurance company on the other side of the fence.
So I worked in insurance claims for 11 years.
I’ve been an assessor for 13 years now, and I love it.
From both sides, it’s clear to me now. That’s why I started Solve.
Many people were caught in a trap that was too big for them.

They had all this experience working against them, working for the insurance company, and they didn’t know what to do. They were lost.
It was Amelia Lee.
There is one more thing.

You’re really just trying to get what you’ve paid for and thought you were entitled to after all these years.
Because of course the insurers on the other side are protecting their shareholders and profits, and you’re right, too.
That’s right.

It was very useful.
Let me know what you think by leaving a comment down there. I’ll be there.

 

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