Being a policyholder is indeed the safest way to protect ourselves against any financial misfortunes. And as an insurance-aware person, there are five essential types of insurance that we should have: health, property, unemployment, life, and pension insurance. The name may vary from one country to another. But the principle of the liability is the same.
However, we must not naively trust the insurance companies because they profit the most when a policyholder does not claim any compensation money. And that is the nature of the insurance business.
Insurance Law Firms
After you know how an insurance company makes profits, you might have sensed there are chances for them to nullify a policyholder’s claim under the pretext of insufficient requirement. And there is where insurance law firms do their business. They represent both the claimant and the company. And by realizing the nature of that situation, you may begin to see how serious a claim dispute is.
Insurance law firms are advocacy business that deals with legal insurance issues. They know the profiles of all insurance companies in your region. And they can obtain information that no one else can. You may think of a private investigator to help you with your case. But as a matter of fact, a private investigator possesses less authority status than law firms.
When to Expect a Dispute
When your claim is not processed, and there are no further follow-ups from your insurance company, it is the time for you to act. But instead of directly calling an insurance attorney, you can contact your insurance company’s complaints liaison department. Every legal insurance company has protocols to deal with unsatisfied clients. And it is best if you follow them first.
To make the process quicker, you have to map your steps. First, state what you expect from the company. And then explain how the company has failed to meet your expectation. Second, gather all the supporting evidence for your case. Give the company officer a time to process your complaint. And the last step to take is to note every officer’s name and their responses toward you.
If you have done the process above, and you still get no results, then you have every right to call it a dispute. And by that time, you can contact an insurance lawyer.
Dealing with Undercompensation
Undercompensation falls in the gray area of the law. The companies use ambiguous terms and let the unsuspecting clients sign them. Most of the time, the ambiguities are stated in technicalities that are foreign to non-experts. And thus, it is vital for us to ask for a detailed explanation of all the conditions stated in the insurance policy.
However, if you have already bought the policy, yet you realize that the agreements are not fair, there are still chances for you to settle the matter. Gather all of your documents and consult your case with an insurance dispute lawyer. One simple mistake allows the company to turn your accusation against yourself. And that is why you should not discuss anything about your claim dispute to anyone but a lawyer.