Quick and Easy Property Insurance Claims
Posted At November 1st, 2019
Most owners of fire or property insurance policies claim to find it difficult if they have to make a claim for losses incurred. This happens because they do not understand and understand how the claim process must be carried out. Is this also the case for you?
They do not know how the claim process takes place. In fact, sometimes the insurance company also never tells. So, what should we do and what should be prepared for the claim process? Let's discuss it together.
It must be recognized that the process of claiming on fire or property insurance is indeed quite complex and requires a little more time for completion. Details and duration of claim settlement are highly dependent on the type of property and the type of loss.
However, we don't need to worry too much.
If we know how to make a claim procedure that is good and right for fire or property insurance, then we can go through the claim process properly and without problems.
Claim Settlement Process
Understanding and understanding of a claim process will make settling these claims easy and fast. The following are the steps in the fire or property insurance claim process.
Notification of Losses
Remember, when a loss incident occurs, the most important thing is we must remain calm and not panic. Secure your family first then valuable assets that are still remaining and can be saved only if possible. However, the safety of you and your family remains your number one priority. Watch that !!
Next, immediately report the loss incident to the insurance. Report as soon as possible so that the insurer can receive and process your claim quickly.
Currently, there are many ways and media that you can use for reporting claims. By word of mouth, by telephone, facsimile, or electronic mail. So, a claim to report can be done as soon as possible.
Make a Loss Report
Next, you must fill out the claim report form or make a written statement. Tell me everything you know about the event that caused the loss or damage.
Starting from the cause, any property or goods that have been damaged, up to the estimated amount of loss experienced.
The form is usually prepared by the insurance to make it easier for you. Remember, fill honestly, well, and correctly in accordance with the actual events for the common good.
Initial Document Supporting Claims
The insurance will ask you for some initial supporting documents for the claim that must be submitted along with the claim form that you have filled in, such as:
- Copies of policies that are still valid.
- Your or family identity.
- Photos of losses.
- Weather reports from BKMG if losses are due to natural phenomena.
- An invoice or proof of purchase of goods. So keep this document carefully every time you buy goods.
- Estimated repair or replacement costs from the worker or contractor you designate to make repairs.
All documents must be prepared. The more complete the documents, the better.
After receiving notification of loss, the insurance will conduct research on the validity of your policy first, such as:
- Is the premium paid when the loss occurs?
- Is the policy still valid when the loss occurs?
- Is the object that suffers a loss insured in the policy?
- Is the cause of loss guaranteed in the policy?
Furthermore, if your policy has been confirmed valid, insurance will conduct an examination or research in the field (survey) to find out several things.
- The cause and place of the loss.
- Assess the number of losses incurred and the remaining value (estimated).
Appointment of Loss Adjuster
If the claim is quite complicated and has a large enough estimate of the amount of loss then the insurance will designate a loss adjuster to conduct claims research and you will be notified to coordinate with them.
In effect, the claim processing time will increase slightly because the survey and claim assessment are submitted to this 3rd party.
Submission of Initial Assessment
From the process of handling these claims, whether carried out by the insurance company itself or loss adjuster, the results will be conveyed to you.
First, your claim is accepted and insurance will notify you of the amount of compensation to be paid or for which they are responsible.
Note, if you do not agree with the amount of compensation to be paid, then you have the right to negotiate with insurance.
Negotiations can be with written arguments, include additional documents to support your claim, or even designate a loss accessor to reassess the loss.
Second, your claim is rejected and the insurance will tell you the reason in writing and officially.
You do not need to worry because if all the previous stages have passed well, it is very unlikely that your claim will be rejected, unless you have been proven to have committed fraudulent claims to obtain certain benefits.
Finally, the insurer will prepare your claim payment if the compensation amount has been agreed by both parties.
Your next task is to prepare to support documents for the payment of claims required, such as receipts for the purchase of replacement items, receipts for repair costs, and so on to be submitted to the insurance.
Furthermore, insurance will carry out compensation payments no later than in accordance with a predetermined deadline.
Understand = Easy and Fast
Such is the general description of the procedure for fire or property insurance claims. Therefore, if a loss occurs, you do not need to worry or be afraid to submit the claim to the insurance company.
However, follow the procedure properly and correctly and complete as much as possible all the requirements so you can be sure your insurance claim process will run easily, quickly, and smoothly.
Bandingin.com !!! can help you make smart and accurate insurance decisions to protect yourself, your family, and your future.
Topics Articlefire insurance property all risks insurance claim assets protection
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