How To Claim Fire Insurance?

Fire insurance gives you peace of mind if your property is damaged by fire. Imagine an irregular flow of electricity causing a fire at your office. What will happen? Your assets and inventory will burn into ashes. You can compensate for the loss by claiming your fire insurance policy. Read on to find out the process in detail! 

A fire in your home or office may cause significant loss and financial burden for you and your loved ones. Fire insurance is a general insurance policy that provides financial protection during these tough times. An insurance company bears the loss that happens to your property. The policyholders receive the sum assured chosen at the time of policy purchase. Let’s walk through the step-by-step guide to claim fire insurance. 

Documents Required To Claim Fire Insurance

Documents play an important role in the process of filing insurance claims. Here’s a list of some of the documents that you may require to claim fire insurance: 

• Duly filled claim form
• Policy document copy
• Photographs of the damaged property
• Fire brigade report
• Copy of Police FIR report
• Copy of newspaper report
• Previous claim history
• Forensic report

Process To Claim Fire Insurance

The fire insurance claim process may require little time and effort. Find a comprehensive guide on how to claim fire insurance in the section below: 

• Inform your insurance company about the mishap. 
• Visit the branch office of the company to get a claim form. You can also download it from the company’s official website. 
• Fill out the claim form thoroughly. The claim request form may ask you to provide details like the date of the fire explosion, type of damage, condition of the property, and other information. 
• Attach all the necessary documents and submit the claim form to the insurer. 
• The insurer will send an investigator to your home or office to assess the information you provide and the cost of the damages. 
• The investigator will provide their feedback to the insurer. If satisfied, an insurer will process the claim for your fire insurance policy. 

Common Reasons For Denial of Fire Insurance Claims 

Sometimes, the insurer might reject your claim request for insurance plans. This might leave you hanging in the middle of nowhere. Therefore, it is necessary that you understand the common reasons why fire insurance claims are denied. 

• Suspected Firebombing: If your insurance company suspects that you intentionally set fire to your building in order to defraud them of insurance money, they may deny your claim request for a fire insurance policy. Additionally, the company will reject your claim if there is evidence of arsonist behaviour in the past or proven fraudulent claims of fire damage or similar forms of damage.

• Providing Wrong Information: An insurance company may reject the fire insurance claim request if they find out that you provide false information about the cause of the fire or even the property insurance claim itself, or if you hide important information from them. 

• Insufficient Policy Coverage: Your claim might get rejected if the type of fire is not covered under the insurance policy. For instance, loss or damage that happened due to a catastrophic event like war may not be covered under an insurance policy. 

• Lack of Proof: You must demonstrate ownership of the items listed in your fire damage claim form. Furthermore, the degree of fire damage should be sufficiently documented. If these proofs are not available, an insurance company will refuse your fire claim.

• Fire Safety Negligence: The failure to implement effective and timely fire safety measures or preventative actions will result in the termination of your claim. You must keep all electrical and fire equipment, such as extinguishers, and sprinklers, in proper operating order. Furthermore, the claim will be denied if the fire was caused by a failure to repair previous damage, normal wear and tear, or a failure to prevent future losses.

Conclusion 

In conclusion, the fire insurance claim settlement process is simple and hassle-free. All you need to do is collect some documents, fill out the claim form thoroughly, and submit it to your insurance provider. If an insurance company is satisfied with the details you submit, it will process your claim request. In some of the above-mentioned scenarios, an insurance company may also deny your claim.