Worry Free Claims

What’s the first thing I should do if I experience a claim?

What would you do if you didn’t have insurance?  In the event of a property loss, you would probably mitigate and protect from further damage.

What does that mean?  Once the threat is over (fire is out, criminal is gone) you need to take immediate steps to mitigate your loss.  If could reasonably avoid some part of a loss by taking steps to reduce the loss, then you must do so.

For example is it’s a water-related claim (which are so common) start cleaning up the water and rent dehumidifiers help to reduce down time.  Pretend you don’t have insurance.  An expert claims manager I spoke to said that not once has he denied reasonable costs to mitigate the claim.

In the event of a potential liability claim, it’s critical that all information about any incident is recorded to assist the insurer in determining liability.

Are there other obligations that I have?

The Statutory Conditions of your policy, which are legislated by the Government of Alberta outline your responsibilities in the event of a claim.   You need to report your claim and provide necessary information to assist in settlement of the claim. 

Refer to Condition 6. REQUIREMENTS AFTER A LOSS found in your contract.

How do I know the insurer is being fair?

Your insurance policy is a contract.  And if you’ve ever watched Judge Judy she always says – “Everything is in the four corners of the agreement.”    So review your contract and if you require further information or clarification, speak to your adjuster or broker.

Finally….. Practice the three “C”s

• BE CANDID
• CO-OPERATE
• REMAIN CALM