Quick and Easy Property Insurance Claims in 2024
Most owners of fire or property insurance policies admit that they find it difficult if they have to claim for losses that occur. This happens because they do not understand and understand how the claim process should be carried out. Is this also the case in your case?
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They don't know how the claim process happened. In fact, sometimes the insurance company also never notifies you. So, what should we do and what should be prepared for the claim process? Let's discuss it together.
Do not worry
It must be admitted that the claim process on fire or property insurance is quite complex and requires a little more time to resolve. The detail and duration of claim settlement depends on the type of property and the type of loss.
However, we don't need to worry too much.
If we know how to properly and correctly claim procedures for fire or property insurance, we can go through the claim process well and without problems.
Claims Settlement Process
Understanding and understanding a claim process will make settlement of these claims easy and fast. The following are the stages in the process of a fire or property insurance claim.
Loss Notification
Remember, when a loss incident occurs, the most important thing is that we must remain calm and not panic. Secure your family first and then the remaining valuable assets that can be saved only if possible. However, the safety of you and your family remains the number one priority. Watch it !!
Next, immediately report the loss incident to the insurance company. Report as soon as possible so that the insurance company can receive and process your claim quickly.
Currently, there are many ways and media that you can use for claim reporting. By word of mouth, by telephone, facsimile, or electronic mail. So, claim reporting can be done as soon as possible.
Make a Loss Report
Next, you must fill out a 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 property that was damaged, to the estimated amount of loss suffered.
The insurance form is usually prepared by the insurance company to make it easier for you. Remember, fill in honestly, well, and correctly according to the actual incident for the common good.
Initial Claim Support Documents
The insurance will ask you for some initial claim supporting documents that must be submitted along with the claim form that you have filled in, such as:
- A copy of a valid policy.
- Identify yourself or your family.
- Photographs of losses.
- Weather report from BKMG if losses are due to natural phenomena.
- Invoice or proof of purchase of goods. So keep this document carefully every time you buy goods.
- The estimated cost of repair or replacement of the worker or contractor you appoint to carry out the repair.
- Etc.
All these documents must be prepared. The more complete the document, the better.
Policy Research
After receiving notification of a loss, the insurance company will conduct research on the validity (validity) of your policy first, such as:
- Whether the premium has been paid when the loss occurs.
- Is the policy still valid when the loss occurs.
- Is the object that suffered the loss covered in the policy.
- Is the cause of loss guaranteed in the policy.
- Claims Research
Furthermore, if your policy has been confirmed as valid, the insurance will carry out an inspection or field research (survey) to find out a number of things.
Assess the amount of loss incurred and its residual value (estimated).
Loss Adjuster appointment
If the claim is complicated and has a large enough estimated loss, the insurance company will appoint a loss adjuster (loss assessor) to research the claim and you will be notified to coordinate with them.
The effect is that the time to process claims will be reduced due to the submission of the survey and claim assessment to this 3rd party.
Submission of Initial Assessments
From the claim handling process, whether it is carried out by the insurance company itself or the loss adjusters, the results will be communicated to you.
First, your claim is accepted and the insurance will tell you the amount of compensation to be paid or for which they are liable.
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 take written arguments, include additional documents to support your claim, or even designate a loss accessor to reassess the loss.
Second, your claim is denied and the insurance will tell you the reason in a formal and written manner.
You don't need to worry first because if all the previous steps have been passed properly, it is very unlikely that your claim will be rejected, unless you have been proven to have actually committed fraud to get certain benefits.
Claim Settlement
Finally, the insurance company will prepare your claim payment if the amount of compensation has been agreed by both parties.
Your next task is to prepare the required claim payment supporting documents, such as receipts for purchase of replacement goods, receipts for repair costs, and so on to be submitted to the insurance company.
Furthermore, the insurance will make compensation payments at the latest in accordance with the deadline that has been set together.
Understand = Easy and Fast
This is an overview of the procedure for a fire or property insurance claim. Therefore, if there is a loss, you don't need to worry or be afraid to submit the claim to the insurance company.
However, follow the procedure properly and then complete all the requirements optimally so you can be sure that your insurance claim process will run easily, quickly, and smoothly.
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