Property Claims

Types of Property Claims

The following are some of the various property claims that are handled in our Claims Department.

Flood

A claim for Flood damages compensates the Insured for direct physical loss to the property insured. Flood means:

Overflow of the sea caused by earthquake, Volcanic Eruption, Tidal Wave or Windstorm

Overflow or deviation from their normal channels of either natural or artificial water courses, bursting or overflowing of public or private water mains, cistern or tanks, and any other low or accumulation of water originating from outside the building (s)

The bursting or overflowing of water tanks, cisterns, apparatus or pipes within the insured’s premises

Hurricane/Windstorm

A claim for Hurricane and/or Windstorm damages compensates the Insured for direct physical loss to the property insured. Accordingly, this peril does not include loss to the inside of a building caused by rain, sand or dust unless the direct force of wind damages the building causing an opening in a roof or wall and the rain, sand or dust enters through this opening.

Earthquake

A claim for Earthquake damages compensates the Insured for direct physical loss to property caused by earthquakes, including land shock waves or tremors before, during or after volcanic eruption. One or more earthquake shocks that occur within a seventy two hour period constitute a single earthquake.

Claim Process after a Flood, Hurricane/Windstorm or an Earthquake

Marine Cargo

A claim for Marine Cargo compensates the Insured for property that may become spoiled or damaged or lost while being transported between destinations to allow for an efficient and fast claims process, the Insured or their agent are advised to submit all available supporting documents without delay, including where applicable:-

Fire

In the case of fire – immediately contact the Fire Brigade.

After the authorities above have been contacted, it is mandatory that the insurance agency, CIL is contacted, so that we can investigate the cause of the fire, and gather all information needed to settle a claim.

Vandalism or Theft

For every claim that involves vandalism or theft, the RVIPF must be contacted to carry out an investigation. This is necessary, as these types of claims will require a police report to be submitted to our office before any settlement is paid.

Claim Process after a Fire, Vandalism or Theft

When all relevant documents are submitted, along with estimates and invoices, and photos have been taken by the adjuster or claims handler, the adjuster will adjust your claim, then you will be called into our office and your settlement will be discussed.

After you have agreed on your settlement, a proof of Loss will be prepared for your signature, and your settlement cheque will be issued.

The process of settling each claim varies based on the time it takes for the insured to provide the necessary documents.