Insurance Claim Report

When drivers purchase automobile insurance, they are protecting themselves financially against potential costs of a car accident. When policyholders get into accidents, they have to make a claim on their insurance policy. Making a claim is the process of asking your insurance company for monetary compensation for damages that resulted from an accident. Insurance companies do not just hand out money after an accident. Insurance companies send out a claims adjustor to analyze a claim made and settle the amount of money to be sent to the driver making the claim. When a claims adjustor settles your auto insurance claim, a record called an insurance claim report is kept.

Records are very important for determining the statistical values that go into calculating policy prices for drivers. Insurance companies need to know average statistics of accidents for any number of groups of people. The insurance claim report helps to determine trends and trends are what influence the price of your coverage. These insurance claim reports are not collected by your insurance company. They are collected and reported by separate consumer agencies that collect and analyze this data. The reports have all relevant information related to a car accident listed among the files. The claims adjustor provides many of the details needed for these reports.

The insurance claim report reflects what type of accident took place as well as how much money it cost the insurance company. This helps to determine the average cost of a car accident. This also helps to determine the frequency of accidents and things like who causes the most accidents. These reports are collected and provided by consumer reporting agencies. These reports are only made for instances where a claim is made and sent to an insurance company. When you file a claim to your insurance company, a consumer reporting agency will make a report like this to accompany your claim.

An insurance claim report is also filed when someone else makes a claim with your insurance. Other drivers can make claims on your insurance if you are held responsible for an accident. If you are found to be at fault for a collision, then you are responsible for financial compensation to the other driver or drivers involved. They get their estimates and talk to the claims adjustor and then file a claim with your insurance company instead of their own. This keeps their rates the same because they did not cause the incident. The world of insurance can be a tricky one to understand, so being familiar with the claims process can help policyholders stay informed in case they have an accident. Contact your insurance agent to make sure you know what to expect from accidents.

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