Choosing Whether to File an Insurance Claim: How Loss Consultation Can Help You Make an Informed Decision
Your vehicle gets dinged in a parking lot or is involved in a rear-end collision. Part of your roof is damaged during a storm, or a pipe bursts in your newly renovated kitchen. If damage to your home or auto needs to be repaired, you may be wondering whether you should file a claim. That’s a decision that needs careful consideration.
When things go wrong, Travelers Claim professionals are here to help. Travelers has Loss Consultation for its policyholders who may need to decide whether to file a claim.
Deciding whether to file an insurance claim
In the U.S., about one in 20 insured homes have a claim each year.1 Filing a claim can result in an increase in premium upon policy renewal. So, when a policyholder is deciding whether to file a claim, it’s important that they have enough information to make an informed decision. Here are some things policyholders will be asked to consider:
- What type of coverage do you have?
- What is your policy’s deductible?
- Was anyone injured?
- Has someone else's property or vehicle been damaged?
- Is it unsafe to live in your home or drive your car?
- Are the damages above your deductible?
Depending on the type of loss, emotions can run high and it can be difficult to focus. For Travelers policyholders, a conversation with a Loss Consultant can provide information that helps the policyholder understand their unique situation.
An overview of the Travelers loss consultation process
Travelers policyholders can access Loss Consultation information in a variety of ways. On the Should I File a Claim page, policyholders can review important FAQs and connect with a consultant through online chat. Policyholders can also call 800.252.4633 to initiate a discussion with a Loss Consultant.
The role of data and technology
Travelers Loss Consultants are trained, experienced insurance professionals who understand the claim process and can provide a preliminary assessment of the physical damage. These Claim professionals are supported by data, analytics and technology that help them offer valuable information to policyholders.
During a consultation, the Travelers Loss Consultant can view a policyholder’s policy details and history. This allows them to accurately explain the policyholder's potential coverage and any other relevant policy information. They are trained to help a policyholder assess the appropriate actions the policyholder can take after a loss. For example, a consultation can help a policyholder understand:
- The potential amount of the damage compared to the policy deductible, if the loss typically would be covered by the policy, and depreciation.
- How the claim could impact the policyholder’s premium.
- Any state laws or regulations that should be considered.
Why loss consultation is effective
Today, about 20% of Travelers Personal Insurance Auto and roughly 30% of Personal Insurance Property policyholders2 who have had a loss speak to a Loss Consultant to get valuable information that allows them to make an informed decision about filing a claim. Agents also appreciate the way that their Travelers policyholders receive personalized support when they need it.
Consultation with care
You can count on Travelers to honor our promise to care using science, data and heart. Call 800.252.4633 to speak to a Loss Consultant if you are a Travelers policyholder who has experienced an auto or property loss and are unsure about filing a claim. To learn more about the benefits of Travelers auto and property coverage, contact your local independent agent or Travelers representative.
Sources
1 https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance
2 2021 Travelers Claim Data
