Claim Reporting: How to Get Your Money Fast

Claim Reporting: How to Get Your Money Fast

Obviously, no one wants to find themselves in a claim situation of any kind, let alone something serious or high dollar. Most people have the mindset of “it’ll never happen to me,” but the truth is accidents do happen, and they happen with higher frequency than people think. If it never happened to you, there wouldn’t be a need for insurance!

That said, when you find yourself in a situation where you need to use your insurance, it’s typically the result of an unexpected, blink-of-an-eye occurrence. After collecting your thoughts, taking mental inventory, and reacting appropriately, your next call should always be to your agent.

Your agent will get the ball rolling right away and often have an adjuster on-site within a day or two. The next phase of the process is the most critical in terms of prompt handling and quick payment. It’s the document phase. In any hull loss, be expected to produce all the documents related to the aircraft, including (but not limited to) the registration, airworthiness certificate, pilot’s log book, pilot’s license and medical, etc. These will be submitted in addition to the carrier’s claim forms, the shop’s repair estimates, and your photos.

Because of this, you can see that the claims process is largely in the hands of the policyholder when it comes to promptness in handling. The more quickly these items are gathered and sent to the adjuster, the more quickly your claim check will be en route. In certain cases, we’ve had claim checks in hand within a week of the incident!