Unlike cars whose value depreciates from the moment you purchase them, houses generally increase in value over time. If you see from a future perspective, owning a property is an investment that will ensure your financial security in years to come. Hence, it becomes very important that you protect your home with a comprehensive insurance policy.
When it comes to a home insurance policy, you must be well informed about what risks are covered by the policy and also the exclusions. You must be familiar with the process of filing a home insurance claim as this will help you contact your insurer without any hassles in case of an accident. Here’s a general outline of the claim filing process.
General Home Insurance Claims Process
- In case of an accident, ensure your safety and the safety of the home first. If you can, take all possible steps to avert the damage.
- Contact your insurance provider through the helpline number, fax or mail and explain the damage caused.
- If possible, take snaps of the damaged parts of your property. Also ensure that you keep the bills and receipts of the services that you have availed after the accident.
- Depending on the nature of accident and extent of damage, your insurer will ask for supporting documents. Make sure you submit all necessary documents along will duly filled claims form.
- A surveyor may be appointed by the insurer to assess the damage.
- After the claim is validated, you will be offered a suitable reimbursement by the insurer.
Documents Required for Filing a Home Insurance Claim
Having all the necessary documents in place will ensure a quick claims process. Below are some of the necessary documents for filing a home insurance claims .
- Duly filled claims form signed by the insurer and the insurer’s legal representative
- Evidence of the event, extent of loss and nature of accident - some of the valid independence evidence reports include First Information Report (FIR), rent agreement, court summons, repair bills, legal opinion if applicable, fire brigade report, invoices of owned belongings, hospital bills, bills of suppliers for replacement etc.
Depending on the nature of claims made, additional documents may be asked for. Also, keep a copy of the policy, policy number, identity and address proof to be shown if required.
Tips for Home Insurance Claims
The following tips will help you make your home insurance claims process faster.
- Read the policy document carefully to understand your inclusions and exclusions. You must know what can be claimed for and what is excluded from your policy.
- Always store your documents carefully. Safely file all the receipts and bills regarding the contents of your house. This will greatly simplify the process of making a claim.
- Enter the correct details when it comes to the valuation of household goods.
- Always make it a point to follow up with the insurance provider after you have made a claim.
- Ensure that your claims form is carefully filled with all necessary details to avoid any bureaucratic delays.