BULLETIN
September 1, 2023
Additional Key Coverage Considerations and an Update on Claims Timeline at Western National
Since August 11, 2023, we have received approximately 1,010 property and auto claims. Thank you for your partnership in serving our mutual policyholders by helping respond to questions and provide updates as appropriate.
There are some important coverage considerations to remember in the event of a hailstorm:
ACV/RCV and Holdback Process
When a policy provides coverage at replacement cost, the initial settlement
of the claim is made for the Actual Cash Value of repairs (less any
applicable deductible). Actual Cash Value is the depreciated value of the
repairs. The policy requires that the policyholder provide us notification
of their intent to complete repairs within 180 days of the
date of loss.
Once the repairs are completed, we require documentation supporting that the repairs were completed as well as the actual cost incurred for the repairs. The documentation should consist of a final invoice identifying a detailed description of the work performed and the amount charged. A policyholder may recover up to the amount withheld on our estimate but not more than actually spent.
It is important to note that all supplements require prior approval. Should the policyholder or contractor disagree with any of the allowed repair/replacement figures, please notify our office immediately as any repair of damages and estimated amounts not listed in our estimate need prior approval. Prior approval must be obtained prior to repairs being completed.
Mortgagee Process
A mortgage company will be listed on payments for real property such as
buildings, homes, or other structures. It is important to confirm that the
mortgage company listed on the policy’s declarations page is correct. If it
is incorrect, a change will need to be made to the policy. Please notify
underwriting and the claims adjuster of this change so a check is issued
properly the first time.
Each mortgage company has different requirements for insurance payments. It is important that the policyholder reach out to the mortgage company to request their specific endorsement procedures. Often times the mortgage company will ask for the insurance company’s estimate of repairs as part of the endorsement procedure. A copy of this estimate is provided to the policyholder at the time the payment is issued.
How to Report a Claim
Western National offers 24 hours a day, 7 days a week claims reporting.
Phone: (855) 921-3164
Online Claim Submission:
https://www.wnins.com/claims/
Email: newloss@wnins.com
Please note: If your customer is experiencing an urgent
matter with immediate need (e.g., water leaking into the home or other
damage making the home unlivable), please call our Claims Department
directly instead of sending an email. This is the quickest way to get
assistance. Once a claim is submitted, your customer can expect to hear
from our team within 48 hours.
Thank you for your partnership!
