A Letter To Insurance Company Requesting Policy Limits is a formal letter written to an insurance company requesting the full amount of coverage available under an insurance policy. This letter is typically written when the policyholder has suffered a loss that exceeds the amount of coverage available under the policy.
In this article, we will share templates/examples/samples of Letter To Insurance Company Requesting Policy Limits. These templates/examples/samples will help you write a clear and concise letter that will get your request approved quickly and easily.
Request for Policy Limits
Dear [Insurance Representative Name],
I am writing to request an increase in the policy limits for my [type of insurance] policy, number [policy number]. I have been a loyal customer of your company for [number] years and have always been satisfied with the service I have received.
My current policy limits are [current policy limits]. However, I believe that these limits are no longer adequate to cover my current needs. I have recently [reason for requesting increased limits, e.g., purchased a new home, increased my income].
I am requesting that you increase my policy limits to [new policy limits]. I believe that this amount is more appropriate to the value of my [insured item] and the potential risks that I face.
I have attached documentation to support my request, including [list of supporting documents]. I am also willing to provide any additional information that you may require.
I understand that increasing my policy limits may result in a higher premium. However, I am prepared to pay the additional cost in order to ensure that I have adequate coverage.
I would appreciate it if you could process my request as soon as possible. Please contact me if you have any questions or require any further information.
Thank you for your time and consideration.
Sincerely,
[Your Name]
How to Write a Letter to an Insurance Company Requesting Policy Limits
If you have been involved in an accident and are seeking compensation from the at-fault party’s insurance company, you may need to write a letter requesting policy limits.
Gather Necessary Information
Before writing the letter, gather the following information: your policy number, the date of the accident, the names and contact information of the involved parties, and the police report number (if applicable).
State Your Request Clearly
In the first paragraph of your letter, clearly state that you are requesting the policy limits of the at-fault party’s insurance policy.
Provide Supporting Documentation
Include copies of any relevant documentation, such as the police report, medical bills, and repair estimates. This will help support your claim and demonstrate the extent of your damages.
Explain Your Damages
Describe the damages you have suffered as a result of the accident, including medical expenses, lost wages, pain and suffering, and property damage.
Negotiate a Settlement
If the insurance company offers a settlement that is less than the policy limits, you may need to negotiate. Be prepared to provide evidence to support your request for a higher settlement.
Seek Legal Advice
If you are unable to reach a settlement with the insurance company on your own, you may need to seek legal advice. An attorney can help you navigate the legal process and ensure that you receive fair compensation.
FAQs about Letter To Insurance Company Requesting Policy Limits
What is a letter to an insurance company requesting policy limits?
A letter to an insurance company requesting policy limits is a formal request to increase the coverage limits on an existing insurance policy. This can be done for a variety of reasons, such as increased property value, increased liability exposure, or changes in personal circumstances.
What information should I include in my letter?
Your letter should include the following information:
- Your name and contact information
- Your policy number
- The type of insurance policy you have
- The amount of coverage you are requesting
- The reason for your request
How do I send my letter?
You can send your letter by mail or email. If you are sending your letter by mail, be sure to send it certified mail with return receipt requested. This will provide you with proof that the insurance company received your letter.
What happens after I send my letter?
Once you have sent your letter, the insurance company will review your request and make a decision. They may approve your request, deny your request, or offer you a different amount of coverage. If your request is denied, you can appeal the decision.
What should I do if I am not satisfied with the insurance company’s decision?
If you are not satisfied with the insurance company’s decision, you can file a complaint with the state insurance commissioner. The insurance commissioner can review your complaint and make a decision on your behalf.