In recent years insurers generally have become ever more unsympathetic in their handling of claims and most are more focused on their own profits rather than dealing with customers in an open and fair manner.
Tip for insurance claims
- Rot is normally specifically excluded from property insurance policies and as with all claims, but particularly those involving rot, it is essential the claim is present in the right way to ensure liability is accepted by insurers.
- Insurers tend to cover one-off events or accident. But exclude damage caused by insufficient maintenance or ware and tare.
- Leaks may not be covered by your insurers, but an “escape of water” may be. Use the right terminology and you may win your claim. Use the wrong terminology and you are unlikely to lose.
- Insurers often instruct their own loss adjusters to consider claims, but as their fees are paid by insurers, they are naturally looking after the insurer’s interests as opposed to interests of a policyholder.
- It is always essential when damage is relatively substantial, that a policyholder be represented by his own professional loss assessor. This ensures that the claim are properly presented and controlled, and offers the best likelihood that the claim will be accepted by insurers.
- Expect to pay in the order of 10 – 15% of the claim on a no win no-fee basis if you use an insurance policy handler.
- Professional representation also ensures that items of loss are not omitted in error and you receive the maximum benefit under the policy.
- It is equally important to note that there are many “grey areas” in insurance policy wordings. Experience ensures these are construed in the policy holder’s favour rather than insurers’ favour.