Things to Keep in Mind Before Claiming Home Insurance
Home insurance offers various coverages based on your requirements, including building coverage, contents protection, property liability, and more. Before the need to raise a claim arises, here are essential steps to take:
- Understand the risks covered and exclusions of the home insurance policy before buying it.
- Familiarize yourself with the required claim documents and procedures. In case you have any questions, contact your insurer.
- Adhere to the terms and conditions of your policy throughout its tenure.
- Keep your mandatory documents safe. Maintain digital copies for accessibility in case of emergencies.
- At the time of purchase, provide accurate values for your household belongings.
- In case of damage, immediately inform both the insurance company and relevant authorities like the local police or fire brigade.
8 Steps to File a Home Insurance Claim
While raising home insurance claims, time plays a crucial role. Responding immediately to prevent further losses becomes vital, especially in a fire outbreak or vandalism.
In case your damaged house does not fit to accommodate after the damages, connect with your insurer for financial assistance to cover the cost of temporary accommodation until the restoration process completes.
Here is a step-by-step guide to file house insurance claims online:
- Step 1: Report Claim Immediately
The first thing comes first. If you have purchased home insurance online from Policybazaar.com, you can 24/7 claim assistance team to register your claims. However, if you have bought it offline, connect with your insurance agent or visit the nearest branch office of your insurance provider.
- Step 2: Notify Authorities
In case of theft or fire, inform the authorities, such as local police or fire brigade. Next, obtain a copy of the FIR for claim settlement.
- Step 3: Gather Evidence
If cameras are installed on your premises, you must collect the evidence, such as photographs, videos, or CCTV footage. Submit all this evidence to the insurance company.
- Step 4: Third-Party Claims
In case the damage is caused to the insured building by a third party, inform your insurer, who will raise a claim with the third party's insurer.
- Step 5: Get Estimated Expense Quote
Before making repairs or replacements in your insured home, send the estimated expense quote to your insurance company.
- Step 6: Surveyor Assessment
The insurer will assign a surveyor to assess your claim. The surveyor will investigate the emergencies, inspect evidence, and estimate the damage. Moreover, the surveyor will share further loss preventive steps. In the case of third-party claims and liabilities, he will examine the extent of policy coverage.
- Step 7: Document Submission
Once the surveyor verifies and accepts the claim, submit all required documents to the insurer.
- Step 8: Claim Reimbursement
In the case of complex claims, it might take time, and even the insurer may decide to reimburse the claim payout amount in instalments. However, if the claims are simple, the claim amount will be refunded immediately.
People also read Benefits of Buying Home Insurance Online
Documents for Filing Home Insurance Claims
Since documents play a crucial role in the claim settlement process, here is a list of mandatory documents required for filing home insurance claims:
- Duly filled and signed claim form.
- Evidence of damage or loss includes pictures, videos, FIR, repair bills, and contractor invoices.
- Third-party claim note (if applicable).
*Disclaimer:These are general documents required for raising home insurance claims. Additional documents may be required based on the cause of damage.
8 Tips to Avoid Home Insurance Claims Rejection
Here are a few points that you can pay attention to avoid claim rejection by your home insurance company:
- Provide a detailed list and value of damaged contents.
- Explain the cause of damage with supporting evidence.
- Specify the total loss amount.
- Keep your home insurance policy number accessible.
- Follow up with the insurer once claims are raised.
- Respond instantly to queries and provide all requested details.
- Be present during inspection by the surveyor.
- Take all the preventive measures to avoid claim rejection.
A comprehensive home insurance policy provides financial assistance for the damaged home, its contents, and other property aspects, along with support for temporary accommodation. For a seamless home insurance claim process, inform your claim assistance team at Policybazaar.com as soon as possible. Remember, your home is not just a place but an investment worth protecting.
Written By: PolicyBazaar - Updated: 02 February 2024