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Insurance Article

Steps to follow while claiming home insurance

September 14 2015

Documentation

  • Policy document
  • Home ownership document -Title Deed
  • Valuation certificate for valuation of building/contentst
  • Claims Form - to be submitted within specified time
  • Bills or card statements to show cost price
Get your claim approved

Get your claim approved

 

Insurance is meant to safeguard against financial losses and Claim Settlement is the process that ensures you receive the amount that will help you resurrect your life after a disaster.

Thus, it is imperative for you, the insured, to go through minute details related to claim settlement in order to avoid disappointments at a later stage. Read on to know about the claims process as well as other relevant information about claims.

Tips for hassle-free claims

  • Keep your policy documents handy, preferably away from the home insured.
  • Keep a backup with any trusted relative or friend.
  • You can also maintain scanned copies that can be accessed online.
  •  Store the insurance company's helpline and emergency (fire brigade, police, etc.) contact numbers in your phonebook.
  • In case of theft, first call the police as the insurer will not process your claim without the police complaint documents.
  • In case of fire, quickly inform the fire brigade.

Claim Process

1. Inform the insurance company via their app, helpline or email

2. Provide relevant information (policy and claim details)

3. After your claim request is authecticated it is assigned to the company's Claims department

4. The Claims department validates, registers the request and appoints a surveyor

5. You need to handover relevant documents to the surveyor

6. The surveyor will look into your claim and submit a report to the Claims department

7. If approved, the insurer then honour your claim.

One can call on their helpline and get doubts clarified.

Handling Disputes

Title

In case of grievances, you can use the insurers escalation matrix to raise a complaint. Most insurers have a comprehensive and highly responsive complaints and suggestions handling mechanism. In case this does not work, you can file a written complanit with the Grievance Redressal Officer (GRO) of the insurnace company. The contact details of GRO are available on the website of the insurance company as well as Insurance Regulatory and Development Authority of Inida (IRDAI's) website.

If the GRO does not respond in a timely manner, you can approach Grievance Redressal Cell of the Consumer Affairs Department of IRDAI. You can also monitor the status of your complaint through the IGMS (Integrated Grievance Management System) of IRDAI. For complicated cases, you can seek assitance from Ombudsman / Consumer Forums / Courts.

Getting your claim approved seamlessly

Be honest from day one when you buy the policy by disclosing all material facts and avoid submitting misleading information. Also, refrain from concealing important information and inflating losses. Co-operate with your insurer/ surveyors for investigations/ surveys and ensure a hassle-free claims process.

 

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