Complete Guide to Property Insurance Claims - Process, Documents Required and Tips

If you have experienced damage or loss to your insured property, applying for a claim can be quite daunting but rest assured, it's quite an easy process if you have done your research and are cautious and vigilant throughout the whole claim processrnGuidance on Property Claim Procedure in India 1. Report an FIR to the nearest local police stationrnThe first step towards an insurance claim is reporting the insured disaster with the police. An FIR registered number would be required to validate your claim process.rnMake sure you don't tamper with the evidence, unless it's an absolute emergency, refrain from touching anything in your property. Wait for the police and the insurance surveyor to inspect the situation. 2. Inform your property insurance providerrnThe second phone call you need to make is to your insurer, a helpline number would be mentioned on their website or on your property insurance policy document. Describe all the details to the executive and make a note of their identification details to maintain a record of your conversations with your insurer. (This might just help you in disputing insurance claims and payouts)rn3. Have the insurance surveyor assess the situation of your propertyrnA surveyor is an official assigned by the insurance company, to inspect the accident location or crime scene and assess the damage. Once the surveyor is done evaluating your property, a compiled report called the “schedule of works” is submitted to the insurer.rnBe honest with the surveyor about all the events that took place during the accident/disaster. In settling property insurance claims, being honest is the only way to get you through. Don’t even hide any details that you think are relevant for the surveyor to know.rn4. Fill the claim application form and gather your documentsrnEvery property insurance provider has their own deadlines of applying for a claim, read your policy document to know what's your time limit and make sure you don't cross that.rnBe cautious while filling out the property insurance claim form, recheck even the address, and contact number you have mentioned. Even the smallest of mistakes can cause a delay in processing your claim.rnHere is a list of documents you might need according to your circumstances-rnFire/Flood/Cyclone/Storm claimrnClaim formrnFirst Information Report (FIR)rnMedia reporting of the incidentrnFire Brigade Report (in case of loss/damage caused by fire)rnMeteorological report (in case of loss/damage by Flood, Storm, Cyclone)rnTitle deed validating the ownership of the property (For Building Cover)rnDetails of fire extinguishing equipmentrnA list of Repair/ Replacement itemsrnReceipts of any expenses incurred by you (Rent for alternate accommodations, meals, other daily expenses, etc)rnIf alternate accommodation is required, the proof of the confirmation and the receipts of expenses paid by you need to be submitted.rnEvidence collected of the disaster/damagernBurglary claimrnClaim formrnStatement of loss confirming the items stolenrnFirst Information Report (FIR)rnLoss estimate and basis of reaching the loss estimate (Consult a legal authority or professional to assess the value)rnOriginal Invoice of lost itemsrnA Non-traceable Certificate issued by Police authoritiesrnA Media or Newspaper coverage of the incident, if any.rnLetter of indemnityrnOther documents (Applicable for all claims)rnKYC documents - Address proof and Identification documents like passport, pan card, aadhar card for all claims exceeding INR 1,00,000.rnCanceled cheques of your bank account in your (policy-holder) name for enabling an NEFT claim settlement.rnRent agreement, if the house was given out for rentrnLegal pinion if applicablernPersonal injury treatment receiptsrnPS - Depending on the nature of the claim, additional documents may be required.rn5. Collect evidencernInsurance companies all over our country have become even more cautious about paying out claims and the only thing one can blame is, the prevailing practice of fake claim requests in India.rnTo avoid any such accusations, while you're at the crime scene, collect all sorts of evidence you can, take videos and pictures of the damage, collect contact details of witnesses, document the cause of the fire, etc.rnAlthough, collecting evidence will also help you strengthen your case, which can avoid any further investigations and delays.rn6. Collect all receipts of expenses you have paid forrnIf you need to arrange accommodation for yourself and your family because of the damage caused to your property, the expenses made for your stay, meals, and other daily essentials will be reimbursed by your insurer.rnJust make sure you collect all the receipts you'd like to get compensated for.rnYour insurer can pay you out by transferring money to your account or replacing the things you have lost during the disaster. If the claim amount offered is not what you expected and you think you deserve more, don't accept the offer, it's not the final ultimatum!rnOur experts at Insurance Samadhan are here to help you with any property insurance-related issues you are facing. Whether it's a claim offer that doesn't satisfy you or your property claim has been rejected, contact us and we will be happy to assist you through it all!