BULLETIN
July 15, 2024
Additional Key Coverage Considerations and an Update on Claim Timelines at Western National
Since June 12, 2024, we have received approximately 575 property and auto claims. Thank you for your partnership in serving our mutual policyholders by helping respond to questions and provide updates as appropriate.
Here are some important coverage considerations in the event of a hailstorm:
ACV/RCV and Holdback Process
When a policy provides
replacement cost coverage, the initial settlement is made for the
Actual Cash Value (ACV) of repairs, less any applicable deductible. ACV
is the depreciated value of the repairs. The policy requires that the
policyholder notify us of their intent to complete repairs
within 180 days of the date of loss.
Once repairs are completed, we require documentation supporting the repairs and the actual costs incurred. This documentation should include a final invoice detailing the work performed and the amount charged. A policyholder may recover up to the amount withheld from our estimate, but not more than the actual amount spent.
Please note that all supplements require prior approval. If the policyholder or contractor disagrees with any allowed repair/replacement figures, notify our office immediately. Any repair of damages and estimated amounts not listed in our estimate need prior approval, which must be obtained before repairs are completed.
Mortgagee Process
Payments for real property, such as buildings, homes, or other structures,
will include the mortgage company listed on the policy’s declarations page.
It is important to ensure this information is correct. If incorrect, notify
underwriting and the claims adjuster to make the necessary changes so the
check is issued properly the first time.
Each mortgage company has different requirements for insurance payments. Policyholders should contact their mortgage company to request specific endorsement procedures. Often, 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 when the payment is issued.
How to Report a Claim
Western National offers 24-hour-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 requiring immediate attention, such as water leaking into the home, other damage making the home unlivable, or not hearing from an adjuster, please call our Claims Department directly instead of sending an email. This is the fastest way to receive assistance. Once a claim is submitted, your customer can expect to hear from our team within 48 hours.
Thank you for your partnership!
