Insurance for your block of flats is a “distress purchase”; you only need to use it when something goes wrong. So when something does go wrong, what can you do to make sure that your claim is handled promptly with as little work as possible?
Prompt action is always the key and it may reduce the size of the potential claim. These simple steps can help you control costs and have your claim paid quickly with the slightest amount of fuss.
- The first thing to remember is that the more that your Insurance Company pays out in claims the greater the possibility that your premium will rise. For example, prompt action should lessen the chance of water leak from spreading into more areas in adjacent flats.
- Always keep your Insurer’s 24-hour emergency contact numbers close to hand.
- Distribute an emergency contact plan that you can to your residents. This plan should include all essential phone numbers, the position of the water stop cock and fire evacuation procedures.
- When you call your Insurer’s claims line always have your policy number ready so they don’t need to locate it.
- Claims where the damage is less than £1,000 generally only require one estimate for replacement or repair. If you do not have a preferred contractor it may be quicker to use one offered by your Insurer
- You are entitled to carry out emergency repairs to make your property safe and protected. Try and take photographs of the damage and retain damaged parts that have been replaced in case your Insurer or their representative wants to see them.
- Keep all receipts and invoices for any emergency repairs that you carry out.
These simple steps will enable your claim to be paid quickly and with the minimum of fuss.
Loss Adjusters and Loss Assessors
Following a claim, it is common for a Loss Adjuster to be appointed by the Insurer with the role of adjusting the loss. Loss Adjusters are independent claims specialists whose professional body is the Chartered Institute of Loss Adjusters and was established in 1941.
A Loss Assessor is the person or company who acts for the claimant in negotiating settlement of a claim in return for a fee paid by the claimant.