Claiming on your home insurance policy is not always as easy as it seems. Whether you have a small or large claim, there are certain steps that must be followed to file a successful claim. Whether you have buildings, contents, or combined home insurance will determine what you can claim.
What Can You Claim For?
Depending on your insurance, you should be able to claim for the following:
Let’s take a look:
- Damage caused by fire
- Flood damage or storm damage
- Theft, including break-in-related damage
- Accidental damage
A house insurance policy has two parts which are the contents policy and buildings policy.
It’s a good idea to get home contents insurance to protect your belongings from things like fire, theft, and other dangers like unintentional damage. If something occurs to your belongings and they are destroyed or damaged, it can be very expensive to replace them, especially if some of them are vital.
On the other hand,
If your home is damaged or destroyed, your building’s insurance will cover the rebuilding cost. If you plan to buy a home with a mortgage, it’s normally required, and you might not be able to get one unless you have buildings insurance.
Making a Claim
If you’ve been burgled, the first thing you should do is call the cops. Not only will they have to come and take evidence as soon as possible, but they’ll also give you a crime reference number, which you’ll need to file a home insurance claim.
In most other circumstances, gathering your policy documents and policy booklet is the first step in filing a home insurance claim. It’s a good idea to put things in a convenient location where you’ll remember them. You’ll find a claims department phone number and your personal policy number that you’ll need to start your claim.
Evidence You’ll Need to Make a Claim
You’ll need to fill out the required claims form for small and regular home insurance claims. This is generally downloadable on your insurer’s website, and you should return it within the specified maximum number of days the sooner the better.
In addition to that,
You’ll also need to include receipts for the products you’re claiming as proof of purchase. If you can’t find your receipts, look through your credit or debit card statements to see if you can substantiate your purchases. If you don’t have copies, contact your bank, or credit card issuer and request that the relevant months’ statements be forwarded to you. In-home insurance claims, photographs are also acceptable as evidence, so send any images you must back up your claim.
The golden rule is that the more documentary evidence you can provide, the easier and faster your home insurance claim will be to process.
Is It Necessary to Pay an Excess?
An excess2, which is the initial element of any claim, must be paid. The mandatory excess will always be paid. However, the voluntary excess will vary depending on what you agreed to when you took out the policy. Your coverage will be less expensive if you increase your voluntary excess.
Here’s an interesting fact:
Most insurers will charge an excess of roughly £200. However, you may be able to pay as low as £50. Some claims will have a higher mandatory excess that you cannot adjust, such as subsidence claims, which can have a £1,000 excess, and escape of water damage claims, which can have a £350 excess.
How Will Your Claim Be Settled?
Depending on the nature of your claim, your insurer may:
- Arrange for one of their affiliated builders to make the necessary repairs to your home and reimburse the cost, less the excess
- Send you a lump sum payment to your bank account or by check to cover the cost of the claim, less the excess
What if Your Claim Has Been Declined?
Your home insurance provider may reject a claim for a variety of reasons. They are as follows:
Let me show you:
- Level of cover – one of the most typical causes for a pay-out denial is that you sought to claim for something that your policy doesn’t cover.
- Wear and tear – most homeowner’s insurance policies require you to keep your home properly maintained. If you file a claim for a dislodged roof tile during a storm, your insurance carrier may determine that the problem was caused by your failure to properly maintain your roof rather than damage caused by the weather.
- Incorrect information – if you fill out your claims form with incorrect information, it may be denied. It’s critical that you fill out your claim form as completely and accurately as possible.
- Non-disclosure of facts – your claim could be denied if you haven’t been completely honest with your insurance company. Never give false information or try to conceal previous claims to keep your no-claims discount. A significant change in your personal details, such as a job change or marriage, should also be reported to your provider.
- Lack of due care – whatever you did, or didn’t do, may have resulted in an incident that triggers the claim. For example, if you forget to lock your door, some of your home’s belongings may be stolen.
- Too late with the claim – Many insurance companies require you to notify them of your intention to file a claim as soon as possible after the occurrence. However, others may give you up to 180 days to do so. Always check your policy documents to be certain.
How Do I Find Out the Excess on My Home Insurance Policy?
In your insurance documents, your policy excess should be specified. The amount of your excess varies depending on the cause of the loss or damage.
Is It Worth Claiming on House Insurance?
The objective of having home insurance is to be able to make a claim when you need it, but for smaller amounts, it’s worth considering whether it’s preferable to make a claim or absorb the expense yourself
How Long Before You Can Claim on Home Insurance?
Each insurance claim is unique, and the more difficult the claim is, the longer it will take to resolve. If it’s straightforward, it could be completed in as little as 48 hours
How Many Home Insurance Claims Can You File?
Filing too many claims in a short period of time can cause a negative impact on your insurer. In general, there is no maximum amount for home insurance claims
To sum it up:
Home insurance claims are the ones that are most likely to be denied. Only 79% of home insurance claims are successful, according to the Association of British Insurers (ABI), or one out of every five home insurance claims filed.
Having the proper understanding of how to file a claim of your home insurance policy will decrease your chance to have it rejected. It’s also advisable to contact your insurance provider first and settle any issues before going directly to Financial Ombudsman Service for a complaint.