Often, however, we do not know what the loss adjustment process looks like when any of these events occurs. Let’s analyze how it looks step by step.
What is damage settlement?
Simply put, the term loss settlement means proceedings conducted by an insurance company which aims to determine the causes of the damage, its extent and the amount of compensation. The insurer with whom we have flat or house insurance also checks third party liability for damage and determines its liability.
Step one – we report the damage
A property insurance holder who notices damage in his apartment is obliged to inform his insurer as soon as possible. Currently, the most frequent occurrence of damage is reported by phone, although more and more companies offering home or flat insurance also take care of other possibilities of reporting damage – e.g. via the Internet.
The insurance holder must prepare for the need to provide a range of information related to the damage. The insurer may ask, among other things, about the place where the damage occurred, the time it was determined, the potential cause and the circumstances surrounding it.
After providing this information, the insurer gives our case a number and the claim settlement process begins.
Remember about documents confirming the occurrence of damage
The insurer may request the injured party to confirm the occurrence of damage. For this reason, when we see any damage that has occurred in our apartment or house, we should inform the relevant services. In the event of a fire, it is necessary to call the fire department, if it has been stolen, burglary or destroyed – call the police.
If the apartment has been flooded, for example – inform the building administration. Thanks to this, you will receive not only help, but also appropriate certificates for the insurer.
When you report damage to your apartment insurer, you should wait for feedback. Usually, an expert will contact us within two or three days, whose task is to inspect the house or apartment. As insured persons, we should participate in them. However, if this is not possible, it is possible to transfer the power of attorney to another person, e.g. a family member.
After examination of the expert, a detailed damage report is prepared, which contains all information about the losses we have suffered and photographic documentation. Please read it carefully.
The protocol we sign goes to the company where we have property insurance. On its basis, a decision on compensation and its amount is issued.