The insurance sector has been at the forefront of the robust US economy. Notwithstanding the heated political discussions and debates over the US insurance policy, the industry itself has seen tremendous growth during the past few years. And as with every growing industry, the associated frauds too raise their head like a hydra-headed monster. According to some recent studies, the reports of questionable claims from the customers have grown manifold in recent years.
Consequently, the insurance companies have become extra vigilant in scanning and assessing all the claims from the customers before clearing them. These claims are subjected to intense fraud investigations by insurance companies. While these investigations are on, your insurance claim, legitimate or illegitimate, is bound to get delayed. While if it’s legitimate, you are at the receiving end for no fault of yours, and if it’s an illegitimate one, it is highly unlikely that it can escape the prying eyes of fraud investigators.
The insurance companies are at liberty to consider any claim as questionable and conduct suitable fraud investigations regarding such claims. It could very well be your claim, which, you know, is legitimate, but you have no option other than waiting for the investigations to get over and the insurance company subsequently clearing your claim. Such delays are not only unwanted but unfortunate too. However, before filing your claim, if you had some inside knowledge about what the insurance companies look for in the claim form before marking it as questionable, you will be in a better position to avoid the avoidable delays in your legitimate insurance claim.
The following are some of the facts that insurance companies look for in any insurance claim to detect fraud. In case of the presence of any of these facts in your insurance claim, most likely, your claim will be subjected to rigorous fraud investigation:
- The unusually lesser time gap between increasing your coverage limit and the happening of the actual event
- A history of losses and the subsequent claims from insurance companies
- No filing of the police report for the occurrence of the event
- The heavy burden of debt and negative financial situation
- Dubious and suspiciously handwritten receipts for repairs, maintenance, and replacements
- Loss or theft or damage to items that are either too old or too difficult to assess their true value
- Not showing any signs of disappointment and maintaining suspicious composure even in the wake of a loss
Such situations are a sure giveaway as far as insurance companies are concerned. The best way to avoid delays in your legitimate insurance claim is to steer clear of the above-stated red signals. However, even if you get involved in any issue with the insurance company, a good insurance lawyer will ensure that your case is dealt with professionally. If you are called up for examination under oath or the insurance company is making inordinate delays in investigating your claim, your best recourse is to opt for an insurance attorney to represent your case.
Disclaimer: Every effort was made at the time of publication to ensure the accuracy of this publication. Individual circumstances will vary, and the law may have changed since publication, thus it is not intended to provide legal advice or imply a certain outcome. Readers considering legal action should seek legal advice from an experienced attorney to learn about current laws and how they can affect their case.