Our Top Tips for making a successful insurance claim

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There is nothing more frustrating than having signed a policy and paid the premiums only to find out that your claim has been rejected. Take heed of our top tips to prevent the stress of your business or commercial property not being fully covered.

1. Read your insurance policy in detail

Understand the type of cover you have and note what exactly is covered – and what is excluded.

2. Pay your premiums

Avoid your policy being cancelled due to your missed payments. This is a sure way for a claim to be rejected. 

3. Be transparent

If you are not completely honest and provide your broker with misinformation when signing your policy or when making a claim, they have the right to cancel your coverage, resulting in a rejected claim.

4. Update your policy

Your broker needs to be informed of any change of circumstances – especially if this change involves an increased risk, change in address, new assets – depending on what the policy is covering, which applies to the point above.

5. Maintain the upkeep of properties and equipment.

Should you neglect the upkeep of your insured commercial property, business and equipment, a claim could be rejected based on deterioration. You also need to ensure that the installation of equipment is done according to regulations (see our previous blog post on the installation of solar equipment as an example).

6. Lodge claims timeously

Report and lodge the claim as soon as possible after an incident. Provide the required documents and information in order for the claim to be processed smoothly.  Ensure you obtain a Police Reference Number and take photos of the damage.

7.  If your claim is unsuccessful…

Query the matter. If it seems to you that the claim should have been successful, you can take up the matter with the insurer. You have the option to escalate the issue with an Ombudsman to investigate or seek legal advice. Bear in mind that the legal route is an expensive ordeal, so be sure that you have a compelling case before pursuing this option.

Questions on making claims or needing to update your policy? Call us today and we can clarify what is covered within your insurance policy.

(031) 716 6000 – KZN
(011) 463 0085 – Gauteng

Image credit: Pexels by Ron Lach