Making Claim by jolinmilioncherie

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									Insurance policies:
  Making a Claim
If you’re talking about
      insurance,
   what is a claim?
A claim is a request for payment to make
up for a loss which may be covered in an
insurance policy.
Steps in making an
 insurance claim
     Step 1 – Report loss
• Notify your insurance company or insurer
  about the loss you have suffered.
• Some insurers require you to take immediate
  steps and to report any losses within set time
  limits.
• If you do not comply, you may lose the chance
  to claim.
     Step 2 – Keep evidence
• Take photographs or videos if possible.
• Save any written documents, especially in the
  case of a car accident.
• Keep note of the circumstances which led to
  the accident, as well as what happened during
  and after the accident.
• If policemen are involved, keep a copy of
  their report.
 Step 3 – Make an action plan
• Check your policy to make sure you are covered
  for the specific loss you suffered.
• Check what you must do next.
   For example, some insurers, request an
   Insurance Assessment. That means you need
   to leave the things as they are.
Step 4 – Make the claim (1)
• Submit your Claim Form.
  – Assess your loss well to make sure you are
    claiming for the full cost for repairs,
    replacements and damages.
• Once your insurer has settled the claim, you
  will not be able to go back to ask for more.
• If you are not sure how much you can claim,
   ask your insurer for advice.
    Step 4 – Make the claim (2)
• Confirm when you can expect an answer from
  your insurer about:
   - if a payment will be made
  - how much the payment will be.

•    Ask for an estimate of how long it will take
     your insurer to settle your claim.
     Step 5 – Collect and give
      information to insurer
• Find out as much as you can about the
  circumstances surrounding the claim.
• Your insurer would want to know how, when
  and where the loss occurred.
• Provide your insurer with all the specific
  information that is requested.
• Your insurer will usually send you a Claim
  Form. Most insurance agencies have this
  form available on their website.
        Home Claim Form   Car Accident/Theft Claim Form
  Step 6 – Claim is processed
• The insurer will not give financial compensation
  until satisfied that the claim, and the amount
  of the claim, are correct.
• The insurer will check the
  Claim Form to ensure that:
    - Your loss is covered by the
      insurance policy and is not
      specifically excluded.
    - You have provided all the information that
       is required.
    - Your policy is still valid and you have paid
       your premiums.
Step 7 – Collect payment for loss
• Insurers will pay either:
   – a cash amount equivalent to replacing the
     damaged or destroyed property/object ‘as
     new’
  OR
  - pay for work to be carried out to bring the
    property/object back to its original
    condition.
• In both cases, the amount paid will not
  exceed the sum insured.
 Different insurance agencies…
• It is important to remember that even though
  these steps are quite standard, different
  insurance agencies might have different
  requests.
• You should always ask your insurance agency
  or insurer to clarify any difficulties you have.




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