When should an insurance claim be submitted?

Answer 1

An insurance claim should always be submitted "as soon as practicable"; in fact, that is the term often used in the policy itself. In general, this means that the claim should be made at the first time possible, all things considered. Doing so will give the insurer sufficient notice so that it can investigate and determine if the claim is payable. Assuming that it is, it will also speed payment of proceeds.

Assuming that someone or something else, other than the insured, is responsible for the loss, it will also enhance the insurer's ability to recover its payment from the wrongdoer through the processes of subrogation or contribution.