The insurance claim process

 When life takes an unexpected turn due to extreme weather or accidents, the real value of insurance emerges when you make a claim. At such times, the process can seem daunting. That's why we've broken down the steps, ensuring you know exactly what to expect.

Initiating Your Insurance Claim

If you've faced loss or damage, reaching out to your insurer promptly is crucial. According to Arron Mann, QBE General Manager of Short Tail Claims, contacting your insurer as soon as possible is the best course of action. They can provide advice and guide you through the process, offering support during what can be a stressful time.

Don't fret if you can't locate your policy documents; insurers typically keep electronic copies. If you acquired insurance through a broker, they should have your details on hand.

What to Do When You Need to Claim

• Prioritize Safety: In the aftermath of an incident, your safety is paramount. Ensure the area is secure before attempting to assess damage. If it's a car accident, stay in a safe location until authorities arrive.

• Provide Detailed Information: When making a claim, be prepared to offer information such as lists of damaged items, police report numbers, receipts, valuation reports, and photos or videos of the incident or damage. Taking notes right after the event helps capture crucial details.

Working with Insurance Assessors and External Experts

For more complex claims, an insurance assessor or loss adjuster may be involved. These professionals assess the loss and its total value, contributing valuable insights to the claims process. External experts, including engineers, forensic investigators, and accountants, might also be consulted to ensure a comprehensive evaluation.

Quotes, Repairs, Total Loss, and Cash Settlements

Once the scope of work and quotes are agreed upon, repairs can commence. In some cases, the repair costs may exceed the item's value, leading to a total loss. Your insurer will pay either the agreed value or the market value, as determined by the loss adjuster. Cash settlements can be discussed, offering flexibility in certain situations.

Understanding the Importance of Your Sum Insured

Your sum insured is critical, representing the value needed to replace your entire home in the case of total loss. Being underinsured can pose risks. Factors like debris removal can impact the sum insured, emphasizing the need for accurate calculations.

QBE emphasizes the significance of accurate valuation, providing tools to help determine the right insurance amount. Conversations with reputable builders for current rebuild quotes can add an extra layer of assurance.

We're Here to Help

"We understand you're often only contacting an insurance company when something bad has happened. But remember, we're here to help, and it's our job to make the claims process as smooth as possible," says Mann. QBE aims to provide a seamless and supportive experience, utilizing resources to deliver the best possible outcome for their clients.

In conclusion, when life takes an unexpected turn, QBE stands ready to guide you through the insurance claims process, offering expertise, support, and a commitment to ensuring your recovery is as smooth as possible.