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Navigating a home insurance claim can be a daunting task. Whether you're a homeowner, a landlord, or someone who has recently experienced property damage, understanding the ins and outs of the claims process is crucial. This comprehensive guide aims to explain the procedure, offering clear insights and practical advice on making a successful insurance claim.

How Claiming on Home Insurance Works - the steps

When unexpected damage occurs to your home, it's essential to know how to initiate a claim on your home insurance. The process typically starts by contacting your insurer to report the damage. This step is crucial and should be done promptly, preferably within 24 hours of the incident. The insurer will then guide you through the following steps, often involving submitting a detailed account of the damage and any relevant documentation.

Timeframe for Settling Home Insurance Claims

The time it takes for a home insurance claim to be settled can vary significantly depending on the extent of the damage and complexity. However, most insurance companies aim to resolve claims within 180 days of reporting. Maintaining regular communication with your insurer throughout this period is essential to ensure a smooth process.

Steps of an Insurance Claim

  1. Report the Incident: Contact your insurer as soon as possible.
  2.  Documentation: Provide detailed information about the damage, supported by photos or videos.
  3.  Assessment: The insurer may send a loss adjuster to evaluate the damage.
  4.  Review: Your claim is reviewed based on the evaluation and your policy's terms and conditions.
  5.  Decision: The insurer will inform you whether your claim is approved or denied.
  6.  Settlement: If approved, the insurer will cover the cost of repairs or replacement minus any excess you need to pay.

Requirement of Receipts in Home Insurance Claims

Having receipts as proof of purchase can significantly streamline the claims process, particularly for damaged items. These receipts help verify your claim's value and authenticity, ensuring a fair and accurate settlement.

Understanding Different Types of Insurance

  • Contents Insurance: This covers replacing or repairing your personal belongings within the home. 
  • Buildings Insurance: Protects the structure of your home, including walls, roofs, and fixed installations. 
  • Building and Contents Insurance: This comprehensive policy covers the building's structure and contents..

Dealing with Damage and Wear and Tear

Understanding the distinction between 'damage to your home' and 'wear and tear.'

Insurance policies typically cover sudden and unforeseen damage but not deterioration that occurs over time due to usage or age.

Hiring a Loss Assessor: Benefits and Considerations

A loss assessor can be a valuable ally in the claims process. They work on your behalf to ensure that your claim is presented effectively and that you receive a fair settlement. Hiring a company like Oakleafe can provide expertise and support, particularly in complex or significant claims.

Conclusion

The home insurance claim process can be intricate and sometimes overwhelming. You can navigate this process with greater confidence and efficiency by understanding each step, knowing what documentation is required, and recognizing the benefits of professional support like that provided by loss assessors such as Oakleafe.

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When navigating the labyrinth of insurance terminologies, the term "Trace and Access" often emerges, especially in property insurance. But what exactly does it mean? Let's dive into the world of insurance to demystify "Trace and Access".

1. What is "Trace and Access" cover?

"Trace and Access" is a specific term used in property insurance, particularly in home or building policies. It refers to the coverage provided to locate the source of a hidden leak or similar issue within the property. Once the issue's origin is found (the 'trace' part), there's the subsequent need to access that problem to repair it (the 'access' part).

2. Why is "Trace and Access" Important?

Picture this: You notice a damp spot on your ceiling or perhaps discolouration on a wall. While the damage is evident, the cause isn't immediately clear. This is where Trace and Access coverage becomes crucial.

  • Protects Your Property: Without prompt intervention, hidden leaks can escalate, leading to structural damage, mould growth, or electrical hazards.
  • Saves Money in the Long Run: Addressing the root cause promptly can prevent more extensive (and expensive) damage later.

3. How Does "Trace and Access" Work?

When a potential hidden problem is identified, specialists may be called to determine its source. This might involve:

  • Using thermal imaging cameras.
  • Conducting pressure tests on pipework.
  • Removing parts of walls, ceilings, or floors.

Once identified, the issue can be repaired, and then any disruption caused during the search will need rectifying. The Trace and Access coverage should handle these costs up to the policy's specified limit, .

4. What Should Policyholders Be Aware Of?

  • Policy Limit: Most insurance policies will have a monetary cap on Trace and Access costs. It's vital to be aware of this and ensure it is sufficient for potential needs.
  • Not Always Standard: While many insurers include Trace and Access as standard, it's not guaranteed. Always check policy details and consider adding it if not included.
  • Difference from Main Claim: Trace and Access is separate from the main claim of fixing the resultant damage. For instance, while your policy might cover the cost of locating and accessing a leak, the resultant water damage repair would come under a different part of the coverage.

5. In Conclusion

"Trace and Access" is an essential facet of property insurance that provides peace of mind. It ensures that if there's a hidden issue causing damage to your property, not only can you claim for the damage itself but also for the costs of finding and accessing the problem.

In a world of uncertainties, comprehending the intricacies of your insurance policy can offer some assurance. With knowledge of "Trace and Access", you're one step closer to ensuring your home or property remains in prime condition, regardless of unforeseen challenges.

If you are affected but a water leak and need to make an insurance claim, it is advisable to enlist the help of a Loss Assessor such as Oakleafe Claims who will help prepare and present your claim smoothly and efficiently.

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When navigating the complex terrain of insurance, one of the most convoluted terms frequently surfaces is 'Consequential Loss'. This often-misunderstood insurance jargon can lead to confusion and have significant implications on claims, making it essential for policyholders to understand its meaning thoroughly. In this article, we'll clear the fog around this term and demystify what it truly signifies in the insurance landscape.

What is Consequential Loss?

Let's break it down. 'Consequential Loss' refers to financial loss suffered due to a specific insured event, which is not directly caused by the event itself, but due to the consequence or aftereffect of the event. It is an indirect loss which extends beyond the immediate damage or destruction caused by an insured risk.

Consequential Losses are also commonly known as 'Business Interruption Insurance' in the commercial insurance realm, as it specifically covers the loss of income that a business suffers post-disaster. The insurance can also cover operating expenses, like electricity, that continue even though business activities have temporarily stopped.

How does Consequential Loss work?

In the world of insurance, where 'cover' is king, understanding how consequential loss functions in a real-world context can be highly beneficial.

For example, imagine you own a seaside restaurant in Cornwall, and your business is insured against various risks, including storm damage. One day, a severe storm hits, damaging your property extensively. Not only is your physical property damaged, but your business also has to close for repairs, meaning you're losing potential income each day you remain shut.

In this case, the direct loss is the damage caused by the storm to your property, which would likely be covered under your standard property insurance policy. The consequential loss is the loss of income due to the interruption of your business while the property undergoes repairs. This loss, being indirect, isn't covered by a standard property insurance policy, but could be covered if you have consequential loss or business interruption insurance.

Understanding the Meaning of Consequential Loss Cover

As we’ve seen, consequential loss is a vital consideration for businesses, especially those that depend on physical premises. Its impact can be significantly damaging, as not only does the company have to bear the direct damage cost, but it also suffers from an interruption in its income stream.

Therefore, while obtaining a comprehensive insurance policy, it's crucial to understand what your policy covers and what it doesn't. Always ensure you’re aware of whether consequential loss is included or not.

This is where a broker can be instrumental. They can help guide you through the intricate landscape of insurance terms and conditions, ensuring you have the coverage you need to protect your business, come what may.

Concluding Thoughts

In the end, understanding insurance terms like 'Consequential Loss' can help businesses better prepare for unforeseen circumstances, providing a safety net for both direct damages and indirect loss.

In an increasingly unpredictable world, we encourage businesses to seek advice from insurance professionals to ensure they have the right cover. It’s always better to be safe than sorry, after all.

We hope this article has illuminated the path in the quest to navigate the insurance labyrinth. Stay tuned for more insights into the world of insurance jargon. Because knowledge isn't just power - it's peace of mind.

In the unfortunate event you are affected and need to make an Insurance Claim it is advisable to engage with a Loss Assessor such as Oakleafe Claims, who will handle your Claim ensuring you stay in control and that you receive you full entitlement.

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All you need to know

The term Loss Adjusters will likely be alien to you if you have never had to make an Insurance claim. If your claim is complex and expensive, you will likely speak with one when making a claim. The purpose of this is to reach an agreement.

The Insurance claim process is often challenging and stressful, therefore it is important to know:

  • What is the role of a Loss Adjuster?
  • Can they reject your Insurance claim?
  • What do Loss Adjusters look for?

What are Loss Adjusters?

Insurance companies or policyholders often hire an Adjuster to work on their respective behalf. Insurance companies typically send them to assess the damage from a claim. This could be for incidents like fires or floods that occur in a home or business.

The Loss Adjuster visits the site to evaluate the situation. They assess, evaluate and report on the Insurance claim as a third party. The insurance company employs them, so they will act with their best interests in mind.

They will provide professional knowledge on the extent of damage, and the cost of reinstating property. The Loss Adjuster collects important information and creates a report. They also give their professional opinion on who should pay for the loss or damage. Their conclusions inform the settlement offered by those they represent.

What are the duties of a Loss Adjuster?

They are responsible for examining insurance claims for the insurance company once they exceed a specific value. This person is important in the insurance claim process. They are usually the first contact from your insurance company after you file a claim.

Usually, within a few days of the insurance company initiating the claim, the Loss Adjuster will inspect your property. This assessment gathers info for your insurer to verify the claim and ensure payment aligns with your policy. The insurance firm receives this data through their report.

Can they reject your Insurance claim?

They may decide your policy does not cover your claim. Insurance company Loss Adjusters are often biased towards their employer, so it's important to keep this in mind. After all, their success depends on the satisfaction of their client, the Insurance company.

An insurance company may ask their adjuster to focus on unclear findings. Additionally, they may ask them to focus on policy clauses that would remove their responsibility.

Policyholders cannot view the Adjusters' report, but they can ask about the conclusions and reasons. You may also ask which parts of your policy determined the decisions. If you do not agree with the final settlement and reasonings, you have the right to argue against their conclusions. By understanding your policy terms, and the reasoning behind the settlement decision, you can successfully counter their argument.

What do they look for?

They will investigate the cause of the incident

  • The value of the loss or the extent of the damage
  • If the Insurance policy is current and covers the extent of the loss
  • If all terms and conditions of the Insurance policy have been met
  • If the value being claimed for is correct

When the Loss Adjuster comes to your place, they will likely take photos of the visible damage to help their investigation. They may also suggest ways to reduce future losses by recommending safety and security measures.

What is the difference between a Loss Adjuster and a Loss Assessor?

Many people often confuse Loss Adjusters and Loss Assessors, but there exists a fundamental difference between them.

  • Insurance companies hire Loss Adjusters to investigate claims and provide them with a report.
  • Loss Assessors are private contractors appointed by you, the policyholder to protect your interests in an Insurance claim.
Loss Assessors vs Loss Adjusters: The key differences.

A Loss Adjuster has knowledge and experience in Insurance claims, particularly damage assessment, policy terms and settlements. They provide assessments and reports to assist the Insurance company with the settlement process and decision.

Loss Assessors, like Oakleafe, help policyholders with claims, using their expertise to settle them fairly and efficiently. They specialise in managing the claim and communicating with all parties involved. A Loss Assessor will offer support, advice, and guidance through a stressful period in your life. They assist with insurance claims while maintaining independence from the insurance company, ensuring they prioritize the policyholders' best interests.

We will manage your claim, and fight for you and your right to a settlement that reinstates your property and gets your life back on track. Oakleafe Loss Assessors can assist with complicated claims, handle uncooperative insurers and contractors, and comprehend your insurance policy information. Loss Assessors can simply be the voice of reason and support your need at a difficult time or offer full management of your claim.

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Movo Awards 2023

Oakleafe Claims are delighted to announce that we have been nominated for the 'Claims Service Provider Of The Year Award' at the 2023 Movo conference. We are also a sponsor of the event and will be exhibiting on a stand during the day.

What is the Movo conference and award ceremony?

The Movo conference this year is taking place at Aviva St Helens in London on Thursday 20th April, with the awards ceremony following at Madame Tussauds the same evening. With an impressive list of leading insurers, broker members, Movo partners and industry professionals attending, the conference promises to be a busy and enjoyable day. There will be many opportunities for exhibitors and professionals across the industry to network, make connections and expand their knowledge. Having launched in 2019, the Movo awards ceremony will be a unique and special celebration of hard work and excellence in the industry.

Who are Oakleafe Claims?

Oakleafe Claims are the UK's leading Loss Assessors and have been giving professional insurance claim help since the first World War. If you are ever in the unfortunate situation of having to deal with an insurance claim, whether this be in your home or business, Oakleafe are on standby to give immediate help to get your life back on track. As the only party in the claim on your side, Oakleafe will look after your interests and deal with all the stressful meetings and investigations to ensure you get the most out of your claim.

Movo award nomination

It is a huge privilege for Oakleafe to be shortlisted for the 'Claims Service Provider of the Year Award'. Having won several top awards last year, we are super proud of everyone in the Oakleafe team to continuing to strive towards perfection in managing clients' claims, and hope their efforts are rewarded at the conference.

We look forward to both the conference the awards ceremony and seeing many likeminded businesses and wonderful people there.

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Oakleafe Claims are looking forward to exhibiting at the South West Business Expo on Thursday 16th March. With over 2,000 people attending and 250+ exhibitors, the expo promises to offer lots of opportunities to expand business knowledge and develop new connections.

What is the South West Business Expo?

The South West Business Expo is the UK's largest one day business expo and showcases the best of the business community in the South West. Located at the Westpoint Arena in Exeter, Devon, the South West Business Expo is a hot spot for people to network with a large variety of business owners, professionals and gain expert knowledge and support to help grow and prosper. It is the 10th year of the event and there is many activities going on throughout the day, including keynote speakers, workshops, and speed networking.

Oakleafe Claims cannot wait for the South West Business Expo and look forward to showcasing our latest services and developing our business network whilst gaining valuable insights. If you are attending the event, be sure to come over and say hello to our fantastic team!

Who are Oakleafe Claims?

As the number one Loss Assessing company in the UK, Oakleafe Claims have dealt with a whole range of insurance claims ever since the first World War. We have experts in both domestic and commercial insurance claims, and are always on hand if you are ever suffer from a devasting event such as a fire, flood, or burglary. Oakleafe will always be by your side to ensure you receive the best during every stage of your claim. We will also use our extensive knowledge and experience to handle all the stressful meetings and investigations to ensure you get the most out of your claim.

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Oakleafe Claims are delighted to announce that we have become corporate associate members of the British Damage Management Association (BDMA). The membership will enable us to continue pushing forward as industry leaders through ensuring the best standards are adhered to during the restoration stage of the insurance claim process.

About the BDMA

The British Damage Management Association are the certifying body for damage management professionals. They raise industry standards and provide training for practitioners and others across the wider insurance industry who are involved in the recovery and restoration of damaged properties, such as Oakleafe. The BDMA also facilitate recognition of specialist services in the recovery and restoration sector.

Oakleafe Claims BDMA membership

With generations of experience in dealing with incidents and perils such as floods, water damage, fire and smoke damage, the BDMA membership will provide a huge boost for everyone at Oakleafe. Client satisfaction always at the forefront of our operations and becoming corporate associates will allow us to provide even better services for those who have experienced a tragedy in their home.

Everyone at Oakleafe Claims is looking forward to working with the British Damage Management Association and seeing where this membership takes us.

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Understanding Betterment in Property Damage Claims: A Guide for Homeowners and Business Owners

As a homeowner or business owner, navigating the complexities of insurance claims after a property damage incident can often be a daunting task. One term that frequently arises in this context is 'betterment'. But what exactly is betterment in property damage claims, and how does it impact your insurance claim? This blog post aims to shed some light on these questions.

Replacing your carpet with one that is of higher value, is considered betterment.
Replacing your carpet with one that is of higher value, is considered betterment.

What is Betterment in Property Damage Claims?

Betterment refers to the increase in value or function of a property or item following repairs or replacements made after a commercial insurance claim or homeowners insurance claim. Replacing damaged parts with new ones can improve a property's value compared to its original condition.

In insurance terms, if a claim leads to your property or part of it being in a 'better' condition than it was before the loss or damage occurred, this could be considered betterment.

What is the Betterment Charge?

A betterment charge is an amount that an insurance company may require a policyholder to pay following the claims process where damaged items are repaired or replaced and it has improved the condition or value of the insured buildings and contents beyond there pre-loss state. This charge is applied because the insurer's primary obligation is to return your property to its original condition, not improve it.

Home Insurance policy
It is important to look for the betterment terms in your Insurance policy so you are aware of what your insurance covers.

For instance, if a five-year-old roof is damaged and replaced with a brand-new one, the homeowner may have to cover part of the cost, since the new roof could be considered an upgrade, leading to betterment.

If you are still unsure it is advisable to call your insurer and check for any insurance clauses before you start any insurance claims process.

For instance, if a five-year-old roof is damaged and replaced with a brand-new one, the homeowner may have to cover part of the cost, since the new roof could be considered an upgrade, leading to betterment.

What is Betterment Adjustment Insurance?

Betterment adjustment refers to the practice insurers use to reduce the pay-out on any business insurance claim or contents insurance claim due to betterment. For example, if an old appliance in your home is damaged and needs to be replaced with a new one, your insurer might subtract a betterment adjustment from your claim pay-out. This change considers the age and damage of the original item. It prevents you from receiving an unexpected profit from the insurance claim.

What is the Betterment Clause?

A betterment clause in an insurance policy allows an insurer to deduct the amount of betterment from the compensation they pay to the policyholder. In simpler terms, it means the insurer will not pay for any repairs or replacements that improve the condition of the item or property beyond its pre-loss state.

The purpose of this clause is to prevent policyholders from profiting from insurance claims, and it ensures that indemnity is maintained. Indemnity is a principle in insurance that dictates a policyholder should not profit from a loss.

Who Can Help With My Betterment Dispute?

Call in independent contractors who are proficient in the area you need assistance with. If part of your home needs to be rebuilt and there is a disagreement between yourself and your Insurer over how much needs to be replaced, ask a surveyor and builder for their professional opinions. They have accurate knowledge about laws and regulations associated with the work and will be able to decide what defines necessary work. Their advice can back up your argument regarding the extent of renovations required.

Even with the right knowledge, negotiating the terms and conditions of your Insurance settlement can be stressful and most definitely time-consuming. You may go back and forth over the same issues regarding betterment with your insurer and feel like no progress is being made. Meanwhile you're left without the means to get your property back in order.

In such circumstances it's helpful to call professionals who know exactly how to deal with Insurance issues such as betterment disputes. Loss assessors such as Oakleafe Claims, have the experience and expert knowledge to help you move your claim forward. We can manage your dispute for you and ensure you receive the pay-out you're entitled to.

We can look over your policy documents and accurately interpret all the terms and conditions regarding betterment. If necessary, we will argue your case on your behalf and protect your rights as a policyholder.

Conclusion

Betterment is a concept that often arises during property damage in all types of insurance claims. It's crucial for homeowners and business owners to understand how betterment could affect their claim, particularly the amount as they might have to pay an excess for repairs or replacements.

Always read your insurance policy carefully to understand how betterment may apply to your coverage. If in doubt, consult with a professional to ensure you have a comprehensive understanding of how betterment could affect your claim, and what you can do to mitigate its impact.

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Storm damage can have a large impact on your life, not least if the Insurance Claim gets declined. After three storms hit the UK hard in February; Dudley, Eunice, and Franklin, you may have had to make an Insurance claim after suffering storm damage. If you need to make a storm damage claim, it is essential that you understand the reasons why some Insurance claims are declined, and how to avoid them.

With over 8 generations of experience in the claim industry, we have seen the common mistakes and traps people sometimes fall into that can lead to an Insurance claim being declined. We have decided to provide you with a quick list of things to lookout for:

  • Insurance company may deny there was a storm
  • Lack of maintenance to property
  • Vacant property
  • Inaccuracies in Insurance claim application
  • Changes in value of material

Insurance company may deny there was a storm

When making a storm damage Insurance claim, many will find it gets declined because the weather in the area did not constitute a storm. A storm may be defined as fierce winds often combined with rain, hail, or snow, but some Insurance policies will have their own definition. This will likely be related to wind speeds, for example it is only a storm if the wind is more than 60mph. It is essential to check for this in your policy and use official weather authorities such as the Met Office to determine the wind speed that affected your location, to find if your if your claim is likely to be declined.

Lack of maintenance to the property

Storm Insurance claims may also be declined due to the lack of maintenance to the property. If Insurers find that your property damage was caused by ‘wear and tear’ or ‘gradual deterioration’ then they may decline the claim. Things such as damaged tiles or evidence of rot are common examples of this. It is important to check if this is mentioned in your Insurance policy.

Property maintenance
Cleaning dirty gutter from moss and leaves.

Vacant Property

Another reason why your storm damage Insurance claim could be declined, is that your property was vacant for a certain period. Leaving your home unoccupied for 30 consecutive days or more, means that your Insurer could have grounds to decline your claim. If your property is vacant when it suffers storm damage, and it is left untreated for a significant period, the damage will likely increase along with the repair cost. Because of this, it is likely that your claim will be declined.

Vacant house

Inaccuracies in the Insurance claim application

Submitting inaccurate information is one of the most common causes of Insurance claims being declined, regardless of the type of claim. A prime example is giving incorrect or unspecific details to describe the extent of the storm damage. It is important to have clear and detailed reports of the damage from experts, along with photos of the damage.

Insurance document

Changes in material value

Insurers must be informed of any changes in the value of your property. For example, if you change the materials of your roof to something more expensive, the replacement value of your home increases. If you do not update your Insurance to the new value of your property, you will be underinsured. You can find more about underinsurance here

Roof renovation

How we can help

Oakleafe Loss Assessors offer unparalleled assistance in storm damage claims. We will handle the stress of managing and negotiating your Insurance claim to give you the best chance of receiving an adequate settlement and not having your claim declined.

For more information, please visit here.

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Small Business Cybercrime Losses On The Rise - In the modern world, we are all subject to cybercrime. The risk is there regardless of whether you run a small, medium, or large business and it is a crime that is fast growing.

Impact of cybercrime on small businesses

Criminals are targeting much smaller businesses than previously, and no one is safe. If you think your business is too small for cybersecurity think again. The Federation of Small Business estimates that fraud and cybercrime is costing every one of Britain’s small businesses approximately £800 a year.  

In 2018, there were 430 million hybrid versions of Malware detected, all targeting any size of business.

What is causing cyberattacks on businesses?

Business cybercrime is being mainly caused three main things, some of which can help be prevented by a business.

  • Weak passwords
  • Hacking by cybercriminals
  • Outdated cyber software

Weak passwords

A main issue in allowing malware to infiltrate a business are employees having weak passwords or clicking links that leave a network compromised. This is a daily occurrence in a business.

Hacking

Hacking is also responsible for a huge percentage of business cybercrime. Often the plan for a cybercriminal involves misleading people into sending personal data or false bank details for paying money into a different bank account controlled by cybercriminals.

Outdated cyber software

Falling behind with cyber updates can be catastrophic and is one of the main reasons cyber criminals are able to penetrate networks. You must try to reduce the impact of potential cybercrime on your business.

Business cybercrime security

Cybercrime Insurance

Most Insurance Companies are offering cover against cybercrime. Policies will insure you for costs such as data recovery, business interruption and e-crime.

Typically though smaller companies spend less on computer security and are at greater risk of a ransomware attack. It is vital that you check your coverage on your Policy, as often many of the elements you will need cover for in the event of an attack are add-ons to a basic Cyber policy. Cover also varies between insurers.  

Making a claim on your business cybercrime insurance

Typical Cyber Insurance usually covers your business for cloud storage breaches and computer system rebuilds. Losses of data and cybercrime claims are complicated, which is why you need a highly experienced Loss Assessor such as Oakleafe Claims to deal with any claims. A Loss Assessor will try to get you everything you are entitled to.

Oakleafe handle complex and challenging cybercrime cases on a daily basis. We will interpret your policy to prepare and present your losses as a result of breaches of data including business interruption exposures and all forms of cybercrime, including virus attacks, cyber extortion, and hacking.

Click here for more information or give us a call today.

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Electrical failures are the main cause of fires in a home. They make up 25% of all fires and commonly this is down to an electrical arc fault.

What is an electrical arc fault?

Electric arcing often occurs when there is a breakdown of dielectric strength. Dielectric strength is the maximum electric field a material can withstand in any insulating material in a live power system. Electrical Arc Faults can occur when there is an undesirable current flow in an unintended path.

House fire Tooting South East London
House fire Tooting South East London

Types of arc faults

There are two kinds of arc fault. Parallel arc fault and a Series arc fault.

Parallel arc fault

Parallel arc fault is when the current flows through damaged insulation from one conductor to another causing a leakage current that is too weak to be detected by a relay. The leakage current, travels in arcs to ease its passage through the insulation.

Series arc fault

A Series arc fault is when a single wire is broken apart and the current arcs gap across the conductor to complete the circuit. This in turn creates abnormal heat at the affected area, which degrades the insulation further and therefore can lead to the ignition of other material surrounding the insulation.

Each arc heats and gradually carbonises the insulation. Eventually the arcs ignite the carbonised insulation over time. Carbonised insulation acts like an accelerant fuel and is ignited by these electric arcs.

Leakages of current generate arcs that carbonise the insulation.  Carbonised insulation is an extremely good conductor of electricity. The cycle of arcing and carbon conduction gathers pace and intensity until the carbonised insulation spontaneously combusts which can lead to significant damage.

Get help with your fire Insurance claim caused by electrical arc

Dealing with the aftermath of fire damage caused by an electrical arc in your home is incredibly stressful. You will need an Insurance assessor if you want to receive your full entitlement after a fire. Oakleafe claims are loss assessors that will handle all aspects and prepare and present your claim to ensure you receive everything you’re entitled to whilst taking the stress away from you.

Call us today on 0333 2101 999.

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For more than 30 years, the Federation Of Master Builders has monitored key market indicators and predicted future developments in the UK construction industry.

What is causing the delays in insurance reinstatement claims?

Delays to reinstatement claims has huge implications on other parts of an Insurance claim. Alternative Accommodation allowances are stretched, and this causes leakage on claim costs with related elements such as rental packs and storage costs. According to the FMB 82% of builders have delayed Insurance jobs due to a lack of materials or delays in them being available. 60% of SME builders undertaking reinstatement works have had to pause work due to a lack of skilled tradespeople and in total 89% of builders have faced delays due to either materials or skills shortages.

Labour shortages rising

While the struggle to hire a bricklayer or carpenter has eased slightly, shortages of general labourers, plasters and roofers are on the rise. The FMB states that the impacts of these shortages on their members businesses has affected builders mental health, with some even considering closing their businesses as a consequence of the current market.

Such is the shortage of personnel that 42% can’t even get hold of general labourers, which is up 6% on last quarter. A huge 97% of builders have faced material price rises, with 93% expecting this to continue into 2022. 

Get help with your insurance claims

With wait times for jobs high, policyholders may feel the pull of unscrupulous builders who seek to exploit the situation. It is at these times when a Professional should oversee the process. Loss Assessors such as Oakleafe Claims offer a project management add on to their claims management service for policyholders after a fire or flood. This will help to avoid the rise in rogue trading that are already being reported. All good builders are facing severe delays. The FMB has even inserted new clauses into their suite of draft contracts to reflect current market instabilities.

The insurance repair industry is not only affected by haulage issues limiting the supply of materials, and skills shortages, but the Government should come up with a comprehensive response. It should start by using the Spending Review and Budget to back a national skills strategy for the construction sector. Until there is an overturn of decades of neglect when it comes to encouraging young people towards a career in construction, there will be little new talent. Prices will continue to rise, and this will have implications on sums insured and premiums. 

If you need help with your insurance claim, click here to visit our contact page and get in touch.

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Insurance Cover

Beware!  For those of you who house your very own wine collections, consider: are you insured properly for them?  You must understand what cover you have under your insurance policy as all policies including  ‘All Risk’ policies have exclusions and conditions attached to them.

A standard house holders policy will always have a limit to the sums insured for any wine and champagne you collect. Usually it is a relatively low figure and can be as little as £5,000. You must ensure this is adequate and review your policy, adjusting the cover as necessary.

Counterfeit Wine

Be careful, as some wine you may have bought in good faith may even be counterfeit. Wine fraud is actually very common. Police in Italy seized over 4,000 bottles of high end counterfeit wine which were valued at £325 a bottle. Recovering money as a result of purchasing fake wine or replacing the counterfeit wine is not covered under any policy.

Most wines react badly to sunlight and extreme temperatures. Unfortunately damage caused by temperature or humidity change is generally excluded under a standard policy. Leakages and damage by corkage and cork fly are also excluded. Working with an experienced wine specialist Loss Assessing company could help you avoid an uninsured loss. Oakleafe Claims will advise on how to claim for any losses to your collection and any conditions with regards to storing your wine safely and securely. Wine can be a good investment but a huge loss in an incident that is not insured properly.

Like fine art and jewellery, the  value of wine fluctuates. Therefore, it is important to understand what it would cost to replace to current market prices. Like any valuable item it is always necessary to obtain a professional valuation. Insure them allowing for this valuation, plus inflation. If you experience a claim for any loss to your wine collection speak to us for some advice on preparing and presenting your claim.

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Having a disaster in your home or business, is to say the least, a very traumatic experience and now you have the responsibility with dealing and submitting a complex and difficult Insurance Claim.

Fortunately, you have prepared well. The good news is that you have a strong insurance policy covering you against such circumstance, you have paid your premiums on time, year after year.

Unfortunately, the bad news is that the impending insurance claim you’re about to make will often seem more frightening with great difficulties and stress in comparison to the actual disaster.

Why are Insurance Claims Difficult?

Insurance Claims are Difficult because it the responsibility of the policyholder to prepare and present their claim to the Insurance Company. This could often mean you would have to quantify and justify every single aspect of the loss while trying to keep things afloat.

Insurance companies would send out their own Loss Adjuster whose sole responsibility is to represent the Insurance’s interest and investigate the cause of the incident. Additionally, they can try to interrogate you and find any possible faults which might be used to deny the claim.

Difficult Insurance Claims Lead to Repudiation

Did you know that 1 in 5 Home Insurance Claims are Repudiated (Not Paid Out). When facing difficult Insurance claims, it is common when policyholders do not not read the fine print in their insurance policies and may often find they have not met some of conditions in a policy.

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Loss Assessors can handle Difficult Insurance Claims

Loss Assessors work and represent the policyholder in the event of an Insurance Claim. Loss Assessors are independent Insurance Claim experts who can take the stress away from your claim. They work for you the policyholder, and only you. They can use their expertise knowledge and skills to deal with Difficult Insurance Claims. Loss Assessors will aim to get everything you are entitled to.

Click Here to read more about Loss Assessors

How Oakleafe Can Help with Difficult Insurance Claims

Oakleafe is the only party in the claim process which is on your side. Insurers appoint their own specialists to look after their interests to limit the levels of their liability. We are interested exclusively in your interests, to ensure you receive everything you are entitled to under the policy.

Having handled hundreds of complex and difficult Insurance Claims with the experience of over 8 Generations. We are confident to handle all the claim process from the beginning, until the end. where we can negotiate and ensure you are returned to a pre-loss position.

Every single claim will be unique in a certain way. Whether you have experienced a Flood or a Fire & Smoke Damage, we are able to handle all aspects of the claim.

Process in an Insurance Claim

As Insurance Assessors, we take our clients through every step of the Insurance Claim and we keep them up to date with every progress made. Difficult Insurance Claims can potentially be very complex but have made a quick list below that summarises the average process in handling an Insurance Claim.

  • Notification - After an incident your Insurance Company needs to be notified of the incident.
  • Mitigation - All policies place a responsibility on the policy holder to mitigate or prevent the damage from worsening.
  • Appointing an Assessor - Our experienced in-house Assessors would be assigned to your claim who will use their wealth of experience to manage all aspects of the claim.
  • Restoration - Depending on the type of claim, a professional restoration approach would be undertaken to ensure material damage is kept to a minimum.
  • Scope of Specification - Charted Surveyors, Structural Engineers, Contamination Experts and other professionals prepare detailed quantification of the loss. All reports and claim documents would then be submitted to the insurer.
  • Negotiation - We will undertake all meetings, phone calls, communications and negotiations to achieve a satisfactory settlement.
  • Approval - Once Insurers or their representatives approve the claim we prepared and submitted to them, funds are released to enable works or professional services to commence.

If you require any information, feel free to contact us and we would be happy to help you!

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Insurance Policies are designed to help cover loss during a disaster in a home or business. But they require conditions to be met by the policyholder. Disasters cannot always be avoided buy we have come up with a list of common disasters and ways minimise and identify some of the potential dangers in your home.


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How to How to Prevent Fire Disaster

Fires can be catastrophic with overwhelming consequences in just a matter of minutes. They can be easily prevented with a few simple measures and checks. Please follow the list to ensure that you minimise the chances of a fire in your home:

“Did you know, just over half of home heating fire resulted from fires caused by heating equipment too close to things that can burn, such as upholstered furniture, clothing, mattresses or bedding.”

  • Smoke Alarms are cheap and very easy to install, you are 4 times more likely to survive a fire if you have a functioning smoke alarm. Do not forget to test your smoke alarm regularly and change the battery if required.
  • All Appliances should have an CE marking for safety standards.
  • Old Cooking Appliances Should Be In Good Condition: You should make sure that old cooking appliances are well looked after and are in good working condition. Each year many fires start due to heating equipment that hasn’t been maintained.
  • During winters, electrical heaters can be often useful to quickly warm up, but they must be kept clear of any sheets, window curtains or any other ignitable materials.

For additional fire prevention and knowledge, please visit your local fire services for free advice. If you have had a home fire, click here to see how Oakleafe Claims can help you.


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How to Prevent Weather Damage:

Although we cannot control the weather. There are still many things which we can do so that we can reduce the risks, or even prevent some of the potential problems that might occur during bad weather.

  • Clear Guttering: During a stormy weather a clogged gutter can potentially cause problems on your roof that can lead to leaks.
  • Plumbing should be in good condition to prevent pipes from freezing with the potential of a burst pipe and escape of water.
  • Broken or loose roof tiles should be fixed as this can prevent leaks and potentially prevent other tiles from breaking during a bad storm.

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How to Prevent Theft:

Anyone who has experienced burglary in their home will tell you it makes you feel violated, apprehensive and at a loss of your next move. There are different ways that can potentially detour thieves

All Entrances are secured and avoid leaving a spare key under a door mat or somewhere hidden.

  • Fences and other Entrances are well maintained, broken or unmaintained entrances can open vulnerabilities.
  • High Value Items like Jewellery are kept in a safe or out of sight.
  • Consider CCTV and/or Smart Home Security Systems – Just the sight of camera or the alarm is enough to detour most thieves.

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How to Prevent Burst Pipes

Pipes freeze because frozen water takes up more space inside your pipes than its liquid form, expanding and causing the metalwork to buckle.

Fact: A large portion of burst pipes occur in the winter due to a drop in temperature.

Here is a list of things you can try to prevent burst pipes.

  • Consider Lagging all internal pipework – in particular, pipes in lofts.
  • Watch out for changes in your home, drops in boiler pressure or discoloration to floors could all be signs of a leak.
  • Insulating your pipes and water tanks to prevent them from freezing.
  • Turn off water if you are going away

Engage a Loss Assessor:

Loss Assessors are independent Insurance Claim experts who can take the stress away from your claim. They work for you the policyholder, and only you. Using their expertise knowledge in Flood DamageImpact DamageFire Insurance Claims and Theft Insurance Claims, they have the skills to handle your Insurance Claim from the beginning to your pre-loss condition. Loss Assessors will aim to get everything you are entitled to.  It is important to engage a Loss Assessor as early as possible as they can ensure the entire process proceeds in the correct manner and your claim is not prejudiced negatively.

Fire Fact Source: http://www.firstalert-online.co.uk/fire-safety-facts/

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Many businesses make mistakes when trying to determine their plant and machinery sums insured. Setting the correct sum insured requires careful consideration of a number of factors, and a thorough knowledge of the policy terms. Brokers and Insurance Loss Assessors can play a key part in helping customers correctly value their assets, and avoid underinsurance.

For businesses that rely on key machinery, underinsurance can have severe consequences. Simply using the purchase cost for valuing assets is a mistake made by many, resulting in inaccurate sums insured and inadequate claim settlements. Valuing assets for insurance purposes requires a particular methodology, and assessors can play a key role in helping customers approach the issue.

What happens if I have a claim?

The basis of settlement determines how a policy is worded to calculate a claim. When setting the sum insured, different approaches must be taken, depending on which basis of settlement is specified. Insurance policies can specify different bases of settlement. It is therefore essential that the applicable basis is known before valuing assets.

In the UK, it is usually an indemnity or, more commonly, reinstatement basis for items of machinery. Other basis of settlement do exist, such as an agreed value basis, but are less common for most customers’ purposes.

Indemnity Settlement

An indemnity basis reflects the traditional principle of insurance: to return the insured to their position prior to the loss – no more, no less.

An indemnity basis will cover either:

  • Cost of repair, less an allowance for wear, tear and depreciation • Cost of a similar machine, giving regard to its age and condition
  • A settlement on this basis is therefore unlikely to fund the full cost of a new replacement asset, so customers should be particularly conscious of overstating sums insured.
  • The purchase cost should be avoided, as the value of plant and machinery can rapidly depreciate once in operation. A reasonable starting point is the current market value of the asset, taking into account age and condition.
  • Difficulty arises where a current market value is not easily determinable, particularly if the asset is no longer being produced or actively bought and sold.
  • Valuations for an indemnity basis can therefore be a difficult task for customers to undertake alone, and both under- and over insurance are distinct risks.

Reinstatement Settlements

Reinstatement is the most common basis of settlement used in the UK insurance market. This departs from traditional principles, as a claim settlement will result in an improvement to the insured’s position.

Reinstatement will cover either:

  • Cost of repair, with no deductions made for wear, tear or depreciation • Cost of replacing the asset with a new item of similar type, capacity and utility (new for old)
  • The sum insured on a reinstatement basis should include the full cost of completely replacing an item of plant or machinery with a new item of similar type and capacity. In addition to the purchase cost, this sum should include factors such as fabrications, freight and installation costs.
  • If the item is readily available for purchase, then determining an appropriate sum insured should be relatively simple. However, difficulty arises if machinery is old or no longer in production. In those circumstances, the cost of an alternative piece of equipment of a similar nature and capacity must be identified.

Getting The Value Right

The approach taken to valuations will produce different results, with reinstatement sums insured being notably higher than those on an indemnity basis. Approaching a valuation from the wrong starting point is likely to result in either over- or underinsurance. Plant and machinery are also particularly susceptible to fluctuations in value, making it difficult for people to establish an accurate sum insured.

It should be stressed that there is no substitute for regular professional valuations to be undertaken for insurance purposes. It may be the difference between sinking or survival. You must seek an Insurance Assessor.

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Insurance Claim rejected help !?!

If you have had an insurance claim that has been rejected (also known as repudiation) by your Insurance company, it may often feel like all hope is lost. Here we try to address some of the problems which can cause an insurance claim to be rejected and what you can do to avoid this.

Rejected Building Insurance Claims

Having The Correct Insurance Policy

Most rejected insurance claims and policies we see are under insured. The value of reinstating your property is not what the market value is. Remember that about 30% of the rebuild is in the ground. Add to that legal, professional and local authority fees and you can see that the sum you have covered in the policy gradually eroding.

Make sure your home is not undervalued as this is the most an insurer will pay out. In some cases an insurer may even return your premium and cancel the policy as you have grossly misrepresented their risk. Remember it's your responsibility not the insurance company to obtain accurate values for reinstatement.

REJECTED BECAUSE LACK OF MAINTENANCE

poor maintenance of home can cause rejected claim

Another reason insurers reject property insurance claims is if the loss or damage was the result of 'gradual deterioration' or a lack of 'maintenance', you will not be covered. Things such as failed damp proof course and some rot are examples of this.

Poor design and faulty workmanship. In this instance you will not be covered. If you believe the cause to be as a result of negligence by a contractor then you may be wise to seek legal advice regarding a claim against the supplier or installer. Your building insurer is likely to reject (repudiate) any claim in this regard.

EXCESSIVE HOLIDAYS

Beware of taking long holidays. If you leave a property unoccupied for 30 consecutive days or more without advising your insurer, they could have grounds to repudiate a claim. This is especially true for fire claim damage and water damage.

MATERIAL VALUE CHANGES

home building extension affects insurance cost

Material change in the risk - insurers must be informed of any 'material increase' in the value of the risk they are covering. For instance, with home prices and building costs escalating so quickly, the replacement value of homes has increased. Any alterations to your property will likely increase the value and there could be risk of damage during construction. If this happens, seek the advice of an insurance claims management company.

Rejected Contents Insurance Claim

Non-compliance with security requirements - make sure you are familiar with policy conditions and endorsements. Should you fail to comply with your policy conditions on minimum security, your claim could be rejected.

You must have what's known as an 'insurable interest' in the property, in other words a financial interest in insuring the asset. If you only part own it or not at all then you will find insurers will reduce proportionally or even refuse to pay at all.

DISCLOSING ALL DETAILS

Check that you have provided all details in the policy form as correct and accurately as possible to your best knowledge. Insurance companies will try to reject claims on the basis inaccurate provided information.

HOW OAKLEAFE CLAIMS CAN HELP

Loss Assessors Oakleafe Claims offer a mid term survey to identify material changes and problem areas in a policy that needs the policyholders attention. Key to this are the warranties and conditions that are the spine of any cover.

Rejected Insurance Claims (Repudiation):

The term repudiation in Insurance claims management refers to the rejection by Insurers to pay a claim. They will relate this rejection to a specific reason such as non-adherence to a warranty or condition in your contract of insurance.

It is always advisable to seek the help of a claims management company in this instance. Sometimes it can be easily turned around with the production of information in the right manner which has been misinterpreted by the Loss adjuster.

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Cyber Liability Insurance Claims Increasing

A relatively recent number of insurance claims are appearing and in ever increasing numbers relating to cyber and cyber-crime. Information technology is prevalent in both our personal and working environments, and we rely on the use of computers and the web to store data every single day.

It is well documented that businesses are vulnerable to cyber-attacks which often results in leaked data not limited to sensitive employee or customer details. In 2017, the NHS network was infected with malware that compromised the data of thousands of people in the UK and abroad.

Cyber-attacks affect all manner of businesses and on a daily basis. They are not just targeted at large multinational companies either.

According to the office for National statistics, at least 7 breaches of data were reported in its network. In fact most businesses have suffered some form of phishing or IT related virus in their systems. It’s never been more important to secure your business from cyber-attacks

Importance of Insurance Cyber Liability Cover

Having the right insurance cyber cover can often help minimise the losses and reinstate your business in the event of a breach or attack. Cyber liability policies can offer support such as data recovery and business interruption cover which can help you to get your business back on its feet in the event of a cyber-attack.

Investing In Cyber Technology

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Technology does not stand still and is moving at a rapid pace. It’s important to keep all of your hardware and software updated. Invest in a quality anti-virus software. Discussing threats with your staff to recognise phishing emails or files attached to unrecognisable emails will help. The best businesses also adhere to a strict password policy in which these are changed regularly. Try to restrict computer usage in the workplace and discourage access to Facebook, twitter or personal email accounts. You lose control over content that is opened on your network.

HACKERS ON THE RISE

Remember hackers do it for a living and are professionals.  They are working daily to develop ways of hacking into our computer systems. Precautions are all well and good but when we are compromised and protocol fails, your Cyber Insurance cover needs to kick in to assist. Cyber liability Insurance usually covers your business for cloud storage breaches & computer system rebuilds. Restoration of company data is usually needed and there will be associated legal expenses.

Despite the risks, most businesses do not have insurance that would cover them in the event of a data breach. The consequences of not having cover can be disastrous. Losses of data and cybercrime claims are very complicated. Specialists are needed to prove that the breach even occurred. Professional hackers leave few traces of their incursion, and Identifying the damage they caused is often arduous.

Look Over Insurance Policy

Check your policy cover before an incident occurs– don’t let your claim be refused by something that you failed to implement.

Insurance claim management is critical when dealing with cyber claims. There are so many elements such as hacking, viruses, malware, and other denial of service problems. Claims will usually involve specialist forensic IT investigators to provide justification of the extent of the loss. The costs of these services are usually met by the policy. There will be both short and long term negative effects on your business that extend beyond the policy indemnity period. Company reputation is often badly affected and will undoubtedly lead to a loss of business.

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Family flood claim rejected by insurance company.

An Insurance Company has been accused of “giving the industry a bad name” for rejecting a Flood Damage Insurance Claim by a family whose home was hit by flooding near Bridgend.

How Insurance Companies Operate

Insurance Companies can often interrogate you and make you feel you are the one to blame. They will investigate and attempt to find any possible evidence to disprove your claim. Often they expect you to use technical terminology to provide your case. Insurers always have the mindset to pay the minimum possible claim sum. And if you do not have a solid case, the chances of a claim succeeding are slim.

Mark Jenkins has been told by Ocaso his claim in November is being refused because he did not declare the house in Maesteg was within 200m of a river.

Ogmore AM Huw-Irranca Davies said the flooding was nothing to do with the river and the firm was “unreasonable”.

Ocaso said it was “in discussions” with Mr Jenkins.

Mr Jenkins estimates it caused about £50,000 of damage to his house and is challenging Ocaso’s decision not to pay out.

How Loss Assessors can help

In a situation like this, a qualified and experienced Claims Assessor can run a full scope of work. This would mean the Assessor would provide complete reports and Quantified sheets. These reports would disprove the allegation of the Insurer that the evidence they provide is irrelevant to this claim.

“It’s a bit of a struggle as you can imagine, four of us in one room,” he said.

“[Our] two-year-old [was] looking forward to one of his first major Christmases in the house, that’s not going to happen.

“It’s just utter devastation at the moment – we’re just making do.

“We’re just lucky we’ve got close family to put us up because otherwise we’re effectively homeless because we can’t live here.”

In this incident where the house can no longer be inhabited, Loss Assessors would  help you find alternative accommodation and oversee the welfare of you and your family while the house is being restored to its pre-loss position. Insurance Loss Assessors will aim to get everything you are entitled to.  It is important to engage a Loss Assessor as early as possible as they can ensure the entire process proceeds in the correct manner and your claim is not prejudiced negatively.

For the full article follow the link to read more.

Source: BBC News

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An owner of a jeweller store has had £2,225 worth of goods stolen in February. After contacting the insurers (Legal and General) looking to make a stolen jewellery claim. Their Insurance Company only offered them £1,257 in cash to replace what they had.  Or the absurd offer of vouchers in full amount to use in a different jewellery store.

If the owner was to take the cash settlement in the Stolen Jewellery Claim. They would be at a 42 percent loss when it came to the true value of the claim. This does not include the cost of having all the broken furniture reinstated

Rebecca Rutt, of This is Money, replies: Insurance is all about providing cover in worst-case scenarios, such as your house being burgled and expensive valuables being stolen.

In case this happened , when you went to claim on your contents insurance . You were given a significantly lower amount if you chose to take the sum in cash.

As you took out the insurance to cover the whole value, it seems strange you would lose so much if you took the cash instead of the vouchers.

Insurers often look for ways to pay out the minimum sum of a claim. In this Stolen Jewellery Claim scenario, they were probably able to get a discount voucher with that other Jewellery store.  That voucher would come at around the same value as the cash settlement which they had offered.

Sometimes an insurer may offer vouchers – this is often the case with jewellery – which can be a surprise for any consumers who may have expected cash instead.

Whether this is fair is likely to depend on whether or not the insurer is able to offer a suitable replacement for the item, and on what the terms of the policy say.

Theft Insurance Claims

HOW LOSS ASSESSORS CAN HELP:

For a better result in this Stolen Jewellery Claim, Loss Assessors can examine your Insurance Policy and determine whether a voucher is considered a valid payment to your claim. Additionally, the Loss Assessor can ask the Insurance Company how they are justifying this sum. The objective is to get the Insurance company to reconsider their position. But unfortunately this can only depend on the policy terms and conditions. Burglary Damage can also be considered a part of the claim as the business must be reinstated to its pre-loss condition by replacing any damaged sales equipment or displays which may have been broken by the burglars.

Read more: ThisIsMoney

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If you have been declined whilst trying to claim on your domestic or commercial insurance, we can help. We can also help with professional services, for example, Brokers, VAR Valuations and Managing Agents.

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