Making an insurance claim is never an easy process. Not only will you have to deal with insurance companies and associated complexities, but you will likely also be dealing with a stressful situation such as an accident or emergency. In this guide, we’ve detailed what happens when you make a claim on building insurance to ensure you know what to expect and how to proceed. Read on to learn more.
What is Building Insurance?
All of us will likely have contents insurance for our homes. This insurance covers our possessions and offers us a means of recouping losses made should our possessions or valuables be damaged or stolen.
However, if you own a property, it’s also vital that you have building insurance. Let’s say you have a fire in your home and the roof is damaged, or there is a water leak in your business property that destroys the walls. The cost of these repairs can be significant, but with building insurance, you can ensure you will be covered in such an event.
There is no legal requirement to have building insurance. However, it can be a condition of a mortgage, so make sure you have it in place should you need to.
What Does Building Insurance Cover?
If you think you need to make a claim on building insurance, first you need to confirm whether or not what you are claiming is actually covered by your policy.
Generally, building insurance covers damage caused by things like fire, water damage, weather damage, falling trees, and vandalism. Building insurance does not generally cover damage from general wear and tear, damage to external gates and fences, and damage caused by insects, rodents or other pests.
However, every policy is different so it’s essential that you read over the terms of your particular policy in detail to ensure you understand what you are covered for.
Contacting Your Insurance Company
If your home has been damaged in some way, you will no doubt be extremely stressed and upset. Having to deal with an insurance claim on top of this can be very difficult, which is why we’ve written up this guide, to give you an insight into what to expect.
Before making a claim on building insurance, first, you need to secure your property and ensure that all occupants are safe. Once you have done so, it’s time to contact your insurance company.
You’re going to need to give them your personal details such as your name, contact information and policy number. Next, you’ll be asked to describe the situation. It can be helpful to write down some notes beforehand to ensure you don’t forget to mention anything.
You should also write down notes during the conversation. This means you won’t forget anything your insurance provider has told you and you’ll be able to review your notes later to confirm specific details.
Make sure you take photos of the damage to your home as well. These will be used as evidence, so ensure the photos are clear and in focus and that they capture the full extent of the damage.
What Happens Next?
A claim on building insurance can involve a lot of money. This means that your insurance provider isn’t simply going to take your word for it and will send out a loss adjustor to conduct a review of the property and the damage to the building.
Loss adjustors will examine the damage to your property to make sure it matches what you detailed in your claim. They will compile a report that the insurance company will then use to calculate the final total of your payout.
Given that making a claim on building insurance can be a long and complex procedure, you shouldn’t expect things to be resolved straight away. The claim might take some time to process, so patience may be required.
Once your claim has been processed, it will be settled in one of two ways. Your insurance provider may organise and pay for repairs to be made, or you may be paid in cash to arrange repair work yourself.
Do You Need Support?
Don’t be overwhelmed by the thought of making a claim on building insurance. While it can be a stressful time, there is support out there. Speak to Priority Scotland, our team of independent insurance claims specialists can manage all aspects of your claim and ensure you get what you are entitled to.
Conclusion
It can be difficult to know what happens when you make a claim on building insurance. The most important things to remember are to keep meticulous records, with lots of notes and photographs, and to know where to get support should you need it.