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5 Simple Step to Claim Fire Insurance

Despite taking many precautions, the probability of fire damage is always there. To minimise the loss caused by a sudden fire outbreak, insurance experts recommend Fire Insurance, for both small and large enterprises!
A fire explosion entails physical and mental trauma and the aftermath can be difficult to deal with. Hence, it is important to tackle the situation with calmness. If you own fire insurance and in the position of having to claim your fire insurance policy, the below easy steps will help you ensure a fast claim settlement.

1. Make Use of any Available Financial or Resources Advance

 In case of a fire occurrence, you may have been forced to vacate the space and seek temporary shelter. If you don’t have enough money in hand to buy the essentials, you can intimate the insurer to extend some financial help in advance. However, the amount released as an advance payment will be adjusted with the total claim later, only if the insurer has such provision.

2. Estimate the Losses

 It is essential to estimate the total loss to get reimbursed fully. Try keeping a track of the losses incurred after the incident. While doing so just ensure that

  • Not to dispose of the burnt items
  • Not to repair the damaged infrastructures
  • Keep the evidence of damaged or lost items

3. Approach the Insurance Provider and File a Claim

It is advisable to inform the insurance provider as soon as a fire incident occurs. You can either call on their toll-free number or write them informing about the loss and request them to access the loss. You may need to submit a proof of loss claim indicating the loss or damage items. The claim request should contain the below information

  • Date of loss
  • Type of loss or damage
  • Any related injuries
  • Condition of the home or office
  • Description of damaged contents
  • Location of damage
  • Others involved
  • Police FIR copy in case Police is involved

4. Estimation of Loss by the Surveyor

 A surveyor will be appointed by the insurance company to estimate the actual loss or damage in the spot of the incident. The claim estimation will be done basis on the report made by the surveyor. Help in the investigation to get reimbursed fully. Also, keep the original reports of the investigation or related documents for future reference.

5. It's not Over until You Say So

The insurance company might be in hurry to close your case, especially if there is a mass disaster. The reason is longer your claim is open, the greater the chance for you to find something that was overlooked earlier. In such a stressful situation, the probability is there that you may forget something important to list down in your initial claim. That’s why it is recommended to take your time before finally closing your claim.

Documents Required for Filing Fire Insurance Claim

 In order to claim fire insurance in India, the below documents need to be furnished:

  • Duly authorized copy of the insurance policy along with the schedule and endorsements
  • Duly filled claim form
  • Newspaper clip on the incident, if there is any
  • Photographs
  • Previous claim experience

Additional Documents

  • Initial committee report, which was compose for investigating the cause of the fire
  • Report of fire brigade (if necessary)
  • FIR/Letter of Intimation to the police station duly approved
  • Forensic reports
  • Final Investigation Report

Indian Insurers Offering Fire Insurance

There is a considerable number of insurers offering fire insurance. Among them:

  • Reliance General Insurance: Reliance Standard Fire and Special Perils Policy
  • TATA AIG Insurance: Standard Fire and Special Perils Policy
  • ICICI Lombard: Standard Fire and Special Perils for material Damage
  • National Insurance: Standard Fire and Special Perils Policy
  • United India Insurance Company: Standard Fire and Special Perils Policy
  • HDFC ERGO: Standard Fire and Special Perils Policy
  • Royal Sundaram General Insurance: Royal Sundaram Fire Insurance Policy

Choosing the Best Fire Insurance Policy in India

Fire incidents are unexpected and greatly disparaging. Therefore, having fire insurance is essential to deal with the aftermath. But selecting the right type of insurance is not easy. With plenty of insurance policies available in the market, you may get confused at the time of buying. Well, the online comparison comes at your rescue when such situation arises. There are many aggregator websites available that aid you with the right fire insurance in India. All you need to do is approach the right website, provide some information like your requirement, personal information and ask for suggestions. The website will suggest certain quotes based on your requirements. After comparing each of them, you buy the one that suits you perfectly. The comparison should be based on certain parameters such as claim settlement ratio of the insurer, the offered coverage and premium, features etc. This way right fire insurance can be ensured in India.

To Conclude

While reporting about fire insurance, make sure you do it without a delay. The entire process may take a little time or you may have to face multiple documentations, cross-questions, still, be patient while dealing with the investigators. In any point, if you feel you’re not getting paid the way you are expecting, you can raise the same with the insurer.  By following the right process, you can ensure a smooth fire insurance claim settlement with the insurer.