Insurance Agency Singapore | Commercial Insurance and Personal Insurance

Although it can be difficult and stressful when you’re involved in a motor vehicle accident, it can be even more challenging to deal with your insurance claim after the collision occurs. Many insurance companies are hesitant to pay for damages, or they make it a complicated process once contacted. If you want to make it an easier process and receive the funds that you deserve, there are a few tips to follow for achieving an optimal outcome with your insurance company.

Get Proper Documentation

Proper documentation is vital to supporting your insurance claim. When speaking with your insurance agent, it is beneficial if you have photos or a police report on hand for reference. Make it a point to collect as much proof as possible before leaving the scene after the accident occurs.

Write a Letter

Attorneys say that it shouldn’t surprise you if your initial claim is denied. Yes, the claim may be denied at first, but is also may be approved. However, if it is denied, your next step is to write a letter, making a formal appeal that requests that the insurance company reconsider your claim. Present the facts and be specific to inform the adjuster of the various reasons that the insurance coverage is necessary. You can even provide receipts for medical appointments or expedite your appeal if your physician thinks that your claim may be life-threatening.

Get Legal Help

Sometimes, your claim may have to escalate if the process takes longer than expected. This isn’t always the case, but you may need to hire legal representation to help move the process along. A lawyer can help you negotiate with the insurance company and can advise you on the next steps to take to increase your chances of seeing a payout. If the idea of paying legal fees makes you balk, look for lawyers who don’t require payment up front and will only take their fees as part of the payout you get if you win your case.

by Lanister Jenkins

See Full Story at www.lazorinsurance.com

Its hard to find an insurance company that caters to your needs and your pocket. That’s why Review spoke to an insurance broker in the city, Johannes Manamela, about what to take into account when choosing an insurance company.

He said the most important thing is to know what type of insurance your business needs and then finding a reputable company to look at your needs and means to get you the best deal and cover at the best price. Manamela added choosing to insure a business means there is a need for several basic types of insurance which can make or break a company.

These include:

• General liability insurance: Every business, even if home-based, needs to have liability insurance.

• Property insurance: If you own your building or have business personal property, including office equipment, computers, inventory or tools you should consider purchasing a policy that will protect you in the case of a fire, vandalism, theft, and smoke damage among other factors.

• Business owner policy (BOP): These packages all have coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance.

• Commercial auto insurance: Commercial auto insurance protects a company’s vehicles.

• Worker’s compensation: Worker’s compensation provides insurance to employees who are injured on the job.

By Riana Joubert

See full story at reviewonline.co.za

The minute you send in an insurance claim for damage to your home, you enter a negotiation. Your insurance company will be seeking the pay to lowest amount possible, and you will be looking to have all of your damages covered. What they ultimately pay will very likely depend on how you negotiate. Here are three tips:

Have a Settlement Amount In Mind. Before you talk settlement amount with your insurance company, do your due diligence and find out for yourself exactly what your repairs will cost. A reputable licensed contractor should be able to give you an estimate of material and labor cost to repair you damage. Further, when you have your own adjuster or licensed contractor inspect your property, they will look for any related damages that will also need to be repaired. Have the cost of all of these repairs in mind before you negotiate with your insurance company.

Don’t Take The First Offer. Some insurance adjusters make initial offers so low that they are simply a way to assess if you know what you are doing. This offer may not be even a quarter of your total damage. Or, they could offer something that is reasonable, but doesn’t cover the full cost of repairs. But because this is a negotiation, you can – and should – make a counteroffer. This counteroffer can be slightly lower than the settlement amount you’d like, to show the adjuster that you are willing to be reasonable, but there should always be a counteroffer. 

Ask That The Offer Be Justified. If your insurance adjuster gives you a lower amount than what you are looking for, ask them to justify how they arrived at that amount, Not only does this show that you are going to expect that they validate their position, but also that you too, know the cost of repairs, and are well aware of just how much it is going to take to fix your damage. Make sure that you get this in writing, so that you can respond to each of their points. Then, the next time you speak with the adjuster, ask for a response to your letter. It is usually then that they make you a reasonable offer.

By Joe Carroll

See full story at www.asaproofing.com