In India, purchasing a house is a significant life event. It is not only a fundamental requirement but also a lifetime investment. House is intended for protection but is also an asset whose worth increases over time, with the help of a home insurance premium calculator to protect their lifetime investment.
A comprehensive home insurance policy will protect your home and its contents from damage caused by fire, storm, theft, and vandalism. It will give you the financial cushion to repair or replace anything destroyed by any of the causes above. If you need to learn how to file a claim for your homeowner’s insurance, this article will explain the entire claims process. *
Seven Steps for Filing a Homeowners Insurance Claim:
If you need to file a building insurance claim, you should do so promptly after the damage, as delays might result in additional losses, such as theft or vandalism. If your home is uninhabitable due to the damage, check with your insurer to see if you can claim additional costs for alternative temporary housing. Remember that you must ensure that no additional damage occurs.
Let us now examine the stages involved in filing and learn what home insurance covers *:
- Immediately report the claim by calling your insurance agent. You can register a claim by calling most insurance companies’ online customer service numbers, which are available 24 hours a day, seven days a week, or by visiting the company’s website.
- In the event of a theft or fire, notify the police or fire department. You will require a copy of the FIR when submitting claim settlement documentation.
- Gather all the evidence, take photographs and videos, or view CCTV footage if you have cameras on your property, and send it to the insurer.
- You could file a third-party claim if a third party caused the damage. Notify your insurer, who will file a claim with the third party’s insurer.
- Before beginning any repair or replacement work, you must provide your house insurance cost estimate.
- The insurance provider will appoint a surveyor to evaluate your claim. He will research the circumstances surrounding the occurrence of the damage, evaluate the evidence, review the papers, and assess the loss. He will describe the following measures to be taken. He will assess the scope of your policy’s coverage and your third-party liability in the event of a claim by a third party.
- Once the insurance provider has validated and accepted your claim, you must submit all the necessary paperwork. Your claim will be reimbursed quickly if it is straightforward. In the case of complex claims, the process may take some time, and the insurer may decide to pay the claim in instalments.
Documents Required for Filing a Homeowners Insurance Claim
The following is some of the documentation required to file a claim:
- A completed and signed claim form from the insurance.
- Proof of the damage or loss, including photographs, videos, etc., along with supporting papers such as the FIR, repair bills, invoices from contractors, etc.
- Notice of claim to the third party, if applicable
Depending on the nature of the damage or loss, your insurer will give you a list of required documents. There may be additional documents in addition to those listed above. *
Conclusion
Purchasing a policy with the home insurance premium calculator can alleviate financial strain in an accident or natural disaster. You should acquire extensive coverage for your home, its contents, and all other property components. It can assist if you require temporary housing. Your home provides safety and security; your obligation is to protect it from harm and loss.
* Standard T&C Apply
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘
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