6 steps to follow in the event of a claim

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1- Notify your insurer

Contact your broker or insurer and describe the circumstances of the loss, to the best of your ability.

2- Limit the damage

It is up to you to take the means to limit the damage or its aggravation, but do not make any permanent repairs before talking to your insurer. If you can, document the state of the disaster (with photos or videos). In case of water damage, dry everything out as quickly as possible, if you can, to prevent mold. If you throw away any soaked items, be sure to take a picture of them and describe them, for claim purposes. In case of fire: do not enter before obtaining permission from the competent authorities.

3- Check the extent of your coverage with the assistance of the claims adjuster

The claims adjuster will explain to you the protections provided for in your insurance contract and, if necessary, the steps to follow for additional living expenses allocated (for example if you have to leave your home). Keep all receipts for expenses incurred as a result of the loss, as they may be reimbursed to you.

In addition, if the storage of your furniture is necessary, choose the personal effects that you want to keep with you, because it could be difficult to access them, or to find a particular item among your boxes.

4- Settlement negotiation

When the claims adjuster has in hand the inventory of damaged goods (with their origin and their replacement value as of today), he is able to calculate the settlement offer under the protections, limits and exclusions provided for in your contract, in particular the replacement value or the depreciated value.

If you have the protection Replacement value , your property will be repaired or replaced with a new item of the same kind and quality, even if the replacement costs more than what was originally paid. If, however, you choose not to repair or replace certain items, the insurer will compensate you according to the value of the damaged goods on the day of the loss, or taking into account their depreciation.

Before proceeding with any repairs, cleaning or replacement of your property, be sure to read the settlement offer and validate that it is right for you, otherwise there is room for negotiation.

5. Payment of compensation and application of the deductible

Depending on the extent of the damage, payments are made throughout the settlement process as suppliers submit their invoices. Make sure you communicate your satisfaction or dissatisfaction with the work done to your insurer before they pay the service provider. If the damage does not exceed the insurance limit, the amount of your deductible will be deducted from the compensation or the insurer will ask you to pay it directly to the service provider.

6- Claiming the amount of the deductible from a responsible third party

If a third party is responsible for the damage suffered, you can claim reimbursement from them for the amount of your deductible and damage not reimbursed by your insurer. Remember that there are limitation periods for initiating your recourse, be vigilant! Ask the claims adjuster for more information and consult a lawyer, if necessary. A sample letter is available at chad.ca.

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