The answers to common home insurance claim payment questions.
If you’ve never filed a claim with your homeowners insurance provider, then you probably do not know how the claim processing and payment process works. However, learning about this process now can help you if you do ever need to file a claim in the future. Here are the answers to common home insurance claim payment questions to help you.
- Will I receive the insurance payment?
This depends on the type of claim you are filing. An insurance check can be made out to the owner of the home or a named insured on the insurance policy. In some cases, your insurer will write a check to your mortgage company. If this happens to you, you will need to work with your mortgage lender in order to cash the check. Your insurer can also write a check directly the contractor you have hired to take care of home repairs. Finally, if the claim was for third-party property injuries or damages, then your insurer might issue the check directly to the affected party.
- Will my claim payment come all at once?
If you file a claim, then there are some instances in which your insurance payout will come as multiple checks. This will depend on your insurer’s claim policies, the type of claim filed, and the information that you provided while filing the claim. Because every insurer will have their own rules, make sure to speak to your agent, so you know what to expect.
- Is there any way to expedite my claim?
The best way to get the full payment for your claim quickly is by handling things on your end. Your insurance provider requires you to complete several steps before they can issue your payment. So, once you file a claim, make sure you understand the procedure clearly and follow-up with your claim status frequently to ensure that your claims adjuster has everything that they need to move forward. This is the best way to cut down on your claim payout time.
These are the answers to common home insurance claim payment questions. Interested in learning more about the home insurance claims process? If so, then contact the team at Champion Commercial Insurance in Dallas, Texas. We are ready to assist you with all your home coverage needs today.