Archive for the ‘Railroad Insurance Claims’ Category
Railroad Claims Adjusters – Expert Investigation to Mitigate Losses
First Rule: Use Experienced Railroad Claims Adjusters
When an accident claim is filed involving a railroad your first step should be to call in experienced railroad claims adjusters. Thousands of accidents happen each year involving railroads and the railroad companies have long established systems for dealing with them. Insurance claims adjusters without extensive background in railway rules and operations are at a serious disadvantage.
Typically the railroad issues a claim against the insuring company using a set of internal guidelines and formulas that may have little to do with what damages actually were suffered and whether the insured is even liable. A further complication is that each railroad has its own rules and formulas for determining damages which require years of experience to understand.
Railroad Insurance Claims – Five Critical Areas That Will Prevent Overpayment
In the United State there is a rail grade crossing accident on average every 4 hours that often result in railroad insurance claims. When the accident involves damage to railroad property the claimed damages often exceeds $100,000. If the damage is excessive or bodily injury is involved, then claims might go up into the millions of dollars.
Because railroads have a lot of experience with rail related accidents they have well established procedures to maximize the value they would like receive from the settlement. However, an investigation by experienced claims adjusters has shown that the initial claimed damages are often beyond the real damages suffered. Read the rest of this entry »