What do you do if you have a potential insurance claim?
You have a potential insurance claim. You want to discuss what might be covered, what the next steps might be, or just have a conversation.
Who is the first person you call?
If the answer is your insurance company, you may be starting an actual insurance claim.
If you do not use an independent insurance agent who you can call to run these “what if” scenarios by and you decide to call your insurance company directly, that could cause a problem for you down the road.
Every time you discuss a specific claim scenario, your insurance company starts a claim on your record.
If the claim in question is not covered or is not worth continuing with the actual claim, does it go away?
Can I withdraw an Insurance Claim after it is filed?
Anytime an insurance company notes a claim on your insurance file it will stay there as a claim with nothing paid on it or a claim that is withdrawn.
This can still affect your future insurance eligibility and rating if other claims arise and/or you look to move your insurance to another insurance company.
Many times we have run accident and claim history reports and find claims with no details or nothing paid out on them. These are usually the result of a claim question that gets asked directly to the insurance company.
So long story short, yes, you can withdraw an insurance claim after it gets started, the problem is the insurance company already knows about the potential incident and that can still go against your future eligibility/rates depending on if you have other claims incidents.
Insurance company’s look at claim frequency even more so compared to claim severity.
This is why it is important to use your insurance for larger claims only.
Claims advice
Getting accurate claims advice is important. Trying to understand your insurance policies of what is covered and what is not covered is not easy for consumers.
If you use an independent insurance agent you get the ability to discuss these claims questions with a licensed insurance agent who can guide you and recommend what to do before contacting the insurance company directly.
If you don’t have a relationship with an agent or want a review of your insurance then click the button below to schedule a review with one of our trusted insurance advisors.
