Securing your home against the natural disasters and man-made conditions is an extremely significant concern. Home insurance provides the full coverage against the monetary liabilities which arise from the loss or damage of your home or contents of the home. One of the most critical elements of a home insurance plan is the claim settlement process. A fine claim settlement process can simply make or also break a home insurance plan. The process of claim settlement is very vital to a home insurance policy and it is significant for every home insurance policy owner to disseminate themselves with the fundamentals of the process.
So, some points to remember when you have to make an insurance claim are as following:
- Evaluation of the damage should be done that the house has sustained. Even if there has not been any big damage then also it is significant to get an approximation.
- If the house has been robbed or there has been a stealing, the instant step must be to contact the police to file an FIR, as well as contact your insurance provider company.
- Another important thing to do is that if there is a situation in which the house has sustained harm then record the same by photographs. You should click photographs of the house or record a video by walking to the each and every part of the house. In addition, do not toss away the items in the house which might have been damaged. All this is essential in order for you to authenticate your claim.
- While reviewing the damage caused, you should take all the prices into the consideration such as the material cost, price of labour as well as the items that are inside the house which are damaged. Moreover, add any charge that you may acquire on exchange living arrangements when your house is in process of under repairing.
- It is advisable that before taking any action you should contact to your insurance provider company.
- You must make sure that no additional damage is caused to the house. Also ensure that you save all the receipts or bills on whatsoever expenditures you do acquire and present the same to the insurance provider.
- You should also find out the time that your home insurance plan carries concerning the filing of claims. Generally, insurance companies have a time bound within which you must file for a claim.
- After notifying the insurance company about the damage, you will have to fill the claim form. Make certain that you should not miss any details as well as should provide the accurate information.
- Once the company will receive the form then they will send an adjuster for inspecting the damage that your house has undergone. His report of the damage surely holds wide weightage in the decision.
- After the insurance company has acknowledged the claim, then the settlement of payments will be incurred towards the maintenance of the house and re-establishment of the contents of the house which have been lost or damaged. You can also contact your home insurance provider to give you the essential details regarding claim settlement process.