Insurance is one of the few things in life that you hope you will never really have to use.
But every year, thousands of New Zealanders do call on insurers when they hit a crisis, and it’s then that the power of insurance is obvious. It makes the difference between having to sell the house and turning to family and friends for financial help – and keeping the bills paid as much as normal.
If you have a financial adviser, the claims process is relatively simple – contact your adviser to start the claim because they have experience with the claims process.
They will provide you with the necessary documentation to fill in and ensure that all the required details are supplied. Having someone to explain the process to you and guide you through can be invaluable at a time of high-stress, as insurance claims situations often are.
Your adviser will then liaise with the insurer, including helping to arrange any independent assessments that the insurer requires. If the claim is accepted, the payout will be made as determined by your policy – either immediately, or after a set period of time, if you have a stand-down clause in your policy.
If the insurer declines your claim, or if there are any aspects that are questioned, your insurance adviser will make your case for you – your adviser is your advocate at claim time.
You hope you never have to claim on your insurance policies. But having an adviser on your side, can make all the difference in life’s hardest moments.