|
|
| Insurance Settlement - an introduction |
When you insure, the basic purpose is to get compansated for the losses. When a damage occurs ( to property, life etc), you need to make a claim against the losses to the insurance company. Insurance company will estimate the losses, legal nature of it, wether to make the payment, how much payment to be made, in whose name the 'insurance settlement' amount to be issued etc.
Usually you recieve a settlement check when the insurance company complete a comprehensive damage estimate. Many a times, your Claims Adjuster would complete the estimate at the time of inspection, providing you with a check and a detailed copy of estimate. You would receive any other authorized supplemental checks once proper re-inspections are performed or when your Claims Adjuster prepares a supplemental estimate. |
|
