5 steps on how to deal with a household insurance claim, what your duties and responsibilities are as well as the insurance company’s duties and responsibilities.
Step 1: Stop the problem.
In case of a claim, the first step is try to stop the cause as far as possible to prevent damages still occurring. Coverages distinguish between the origin of the claim and the damages. Insurance policies usually cover the damages, but require the policyholder to repair the origin unless it is an uncontrollable one. The policyholder is considered responsible for the maintenance of his/her property in order to avoid damages caused by lack of maintenance.
Step 2: Minimise the damage.
Move the damaged items to prevent further damages and keep them for the loss adjuster: carpets, furniture, tables, sofa … Don’t wait. Take pictures and then move the items. Ask your broker whether you must repair them or not, and he/she will explain to you your insurance company’s criterion. If a loss adjuster verifies that damages could have been reduced and weren’t, the insurer cannot be required to cover the claim completely.
Step 3: Contact your insurance broker. Whether you’ve caused the incident or not. Your broker will help you to resolve the incident and identify who is responsible. In your policy you will find a 24 hour emergency hot line for urgent breakdowns. In case of theft, issue a complaint at the police office reporting a detailed list of stolen objects and show this document to your broker.
Step 4: Repair.
Usually the insurance company has its own repairers. If you prefer to use a repair company of your choice, firstly ask for a budget and then pass it to your broker for approval and wait until your insurance company accepts it.
Step 5: Getting paid.
How long does it take for the insured to be compensated for a claim? Generally they tend to be quick on the management of payments, when everything is clear and defined.
-The time limit for reporting a loss to the insurance company is 7 days as from the date of the accident (occurred or detected).
-The injured has a year period/deadline to claim for damages.
-The insured has two years since the incident occured to claim for damages.
-The Insured has a period of 5 years to claim for personal injury. E.g. Accidental injuries because of a claim.
-Usually buildings are insured at full reconstruction value and contents are insured at new for old value.
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