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An Insight Into Home Insurance Claim Strategies

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Home damage can potentially cost a lot to repair. Therefore, whether your claim is straightforward or complex you want to understand the right home Insurance Claim strategies to use. Some claims can be more complicated than others. For instance, in the case of flooding the type of damage can be hard to assess and repair and the claim may take longer than usual.

 According to the Association of British Insurers “water damage is claimed most often and accounted for over 30% of home insurance payouts in 2018.”

Any incident that causes damage to your home can be potentially stressful and having a home insurance policy is only half the battle. Knowing the best Home Insurance Claim Strategies and how to properly proceed with a claim is the other half. One of the general Home Insurance Claim Strategies is that the more documents such as receipts for items claimed and photographs of damage you gather the smoother the entire process will go. Another is always contacting the authorities and obtaining a report if the claim is the result of a crime like a theft. Also, make sure you have a copy of your policy and that you know what is covered and what isn't.

What are the most common home insurance claims?

The weather has become more unpredictable lately with stronger storms due to climate change and storm damage claims have increased but flooding, including burst pipes, is still the most common home insurance claim.  Others include fires, most often kitchen fires, accidental damage and burglary.

Water damage claims are common especially in colder months as pipes can freeze and burst releasing water. Keeping up good maintenance of the home is important so that the insurance company doesn’t deny your claim based on improper upkeep. Accidental damage, such as party guests ruining your carpet, usually requires the right type of coverage so if you claim for it make sure it is included in your policy. Accidental coverage is not usually a part of standard home policies.

Theft is included in any standard policy, but the correct Home Insurance Claim Strategy would be reporting it to the police promptly. Your insurer will need their report or reference number so make sure you have those details when you file. Fire claims are also common home insurance claims but can get complicated because of smoke damage which is not immediately noticeable and therefore can be difficult to assess. Engaging a Loss Assessor in those cases to help you properly assess all damage before you file is always a good idea.


How long do home insurance claims take?

Home claims can take anywhere between a few days to a over a year to settle and for this reason it is pivotal to adopt the correct Home Insurance Claim Strategies in order to ensure the claim is settled correctly and quickly. For larger claims an adjuster will need to inspect and investigate the damage, which can take more time. It can also be potentially uncomfortable for the claimant as they can be made to feel more like a suspect than a victim. The time a claim takes to settle depends on several factors but mostly it is the type of damage that determines it.

Certain types of damage such as water damage or smoke damage are more difficult to repair and there may be differences of opinion as to the value of such claims. Properly assessing the value of your loss is not always straightforward and it is this assessment before you file that’s the key strategy to a successful home insurance claim.

There is no way to know for certain how long your claim will take. However, engaging a Loss Assessor like Oakleafe Claims can shorten this time considerably since they are familiar with all types of claims and can make this process much smoother. Upset over a loss may prevent you from being accurate in your claim but a professional loss assessor will pay attention to these details and adopt the correct Home Insurance Claim Strategies, making it much less stressful for you.

What do home insurance adjusters look for?

What insurance company adjusters look for is whether the damage is covered by the policy in the first place and if there are any signs of fraud. Being honest in filing your claim and not exaggerating its value is important but you also do not want to under value your claim. A professional loss assessor can be of great help here as well since it is their job to know how to accurately assess your loss.

Filing the claim within the time specified and following procedures are good Home Insurance Claim Strategies for decreasing the risk of the claim being denied. Home insurance claims are still the most likely to be rejected among all types of insurance. This is mostly due to lack of appropriate coverage which is why it’s so important to know what your policy includes.

Another thing to keep in mind is not to organise home repairs before the loss adjuster has a chance to see the damage. The only immediate repairs you need to make are ones that prevent further damage to the home such as temporarily covering any damage to the roof. When the insurance company’s loss adjuster visits your property, they will need to be made aware of any immediate repairs done.

Does making a claim affect home insurance premiums?

Making any home insurance claim will typically raise your insurance premiums by 10-15% the following year. It’s also important to remember that you have to pay your set excess towards any claim at the time you file it. How much excess you pay depends on the terms specified in your policy.

Sometimes if the claim is small, such as a broken window, it may not be worth filing at all since the premiums will increase for any size claim filed and you may pay much more because of the increase than the claim is worth. Home insurance works best for larger claims, where the cost of repairs is much more than you could afford at the time.

Conclusion

Filing any home insurance claim can sometimes be a difficult process but knowing Home Insurance Claim Strategies can simplify it. Following procedures, filing on time and having the right kind of professionals on your side can make any claim hassle free. Having proper documentation is a proven home insurance claim strategy and the more there is of it the better.

Of course, you want your claim handled as quickly as possible and hiring a loss assessor can help to that end. If you follow these simple Home Insurance Claim Strategies your next home insurance claim will not cause any unneeded stress.

How To Prevent A Disaster In Your Home

 How To Prevent A Disaster In Your Home

Insurance's are designed to help cover loss during a disaster. Having a good Insurance package that can cover all aspects of your home is crucial. Here is a list which we have put together that can help you identify any risks or potential hazard in your home.

Dealing with Difficult Insurance 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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Insurer reject Maesteg family’s flood claim

Insurer reject Maesteg family’s flood claim

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 like you are the one to blame.