Six Step Guide to File a Home Insurance Claim

Owning a home requires a big investment. If you take a home loan to buy it, a major portion of your housing budget will go away in re-payment of the loan. Property taxes and furnishing cost will also add-up to monthly expenses. It thus becomes essential to ensure protection of your home. A Home Insurance Policy protects your home structure & its contents against natural and/or man-made calamities.

Most people take a hurried decision for buying a home insurance policy, without really going through the policy details. Not only buying a home insurance policy works, it is also essential to get the home insurance claim. Here, you need to know the procedure for filing the home insurance claim.

Prior to filing a claim application, it is advisable to go through your policy and get an overview of what is covered and the extent of coverage. Several home policies provide cover for specific types of damage(s), so you should do the research for specific perils to ascertain if your damage is covered.

How the damage or loss occurred also makes a difference. If the policy provides cover for one peril, the insurance company may deny you the claim for the same peril, stating that some other element was involved. It is thus quite essential to know about the coverage available and assess whether it fits to the damage you incur.


  • Report the Claim

If your home & its contents incur any loss/damage covered under the policy, you should report the claim at the earliest. Some insurance company’s claim application is available online or you may call the claims helpline to register the claim request.

When it comes to filling up the claim application, you should include all the required information and don’t forget to fill your contact information, else your claim would be pending for a long time.


  • Furnish Documentation

A major step in filing a home insurance claim is to provide the complete details regarding the damage for the house and the value of its contents such as appliances, jewelry & other expensive items. It is advisable to use the present value for for home elements and other possessions. You can also take photos of the damage that will help you justify the claim amount.


  • Confirm Details

After intimation of damage to the insurance company, a claim adjuster is assigned to assess the damage caused to your home. A claim adjuster will ask you about the damage such as reason for damage, details of damaged property, steps taken to restrict the damage, etc.

Once the claim adjuster approves the extent of damage/loss incurred, the insurance company will put it into further process for approving the claim amount.


  • Contact Company to Track Your Claim

After you have filed the home insurance claim with the company, it is the time to figure out the progress of your claim. Sometimes policyholders have to wait for a long time to settle the claims and it is hereby advised to be proactive in settling claims, so you can be compensated as early as possible.


  • Conclude the Claim

After you have received the claim amount, you are required to get the repair work done. If your policy covers personal injuries, you are free to claim for medical expenses incurred due to damage occurred to your home. After completing the repair work and medical treatment, you also need to submit the invoices at the earliest.


Conclusion

Buying a Comprehensive Home Insurance Policy provides cover against the home structure and/or its contents. Knowing about the procedure to file a claim plays a key role in settling claims. This article provides you a six-step guide that makes the claims process easy and hassle-free. It is advisable to be careful and be specific in providing details to a claims adjuster, as your statements may impact the chances of settlement of claims.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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