You must notify our brokerage to make your claim as soon as possible after you suffer a loss.

Things you must do:

  • Take all reasonable steps to stop any further loss from occurring.
  • Advise the nearest Police station if your property is lost or stolen, vandalised or maliciously damaged.
  • Keep the property that has been damaged so your insurer can inspect it if required.
  • Send us any document relating to your claim i.e. photos, receipts, etc

What you Must not Do:

  • Repair or replace any damaged property without your insurer’s consent.
  • Pay, promise to pay, or offer payment, or admit responsibility for a claim.

Once we have been notified of a claim, we will lodge the claim with your insurer. Depending on the circumstances of your claim, your insurer may appoint an assessor to attend your property and facilitate your claim.

For claims not requiring an assessor to attend, your insurer will request proof of ownership as well as quotes and a report for repair/replacement (additional information may be required).

Once this information has been reviewed, and there is no additional information required, we will receive a settlement offer from your insurer.

If you agree and accept this settlement offer, your insurer will settle the claim by EFT to your nominated bank account.

Claim Payment Example – Building and Contents:

The sum insured on your buildings is $500,000 and your contents sum insured is $40,000. These sums insured are adequate in the event of a total loss of buildings and contents. There is an excess of $500 applicable to any claim. Your building and contents are damaged by a fire, resulting in a building repair cost of $50,000 and damage to contents amounting to $25,000. You are unable to occupy the building due to the damage for four weeks until the damage is repaired and your alternative accommodation costs are $8,000. You are not registered for GST.

 

Settlement AmountExplanation
$50,000The cost to repair the building inclusive of GST
$24,500The cost to replace your contents less the policy excess of $500
$8,000Additional benefit under the policy wording for alternative accommodation due to a claimable insured event
$82,500Total Claim Payment
Please Note the above is an example only and you will need to discuss with your broker the coverage offered by your own policy.

Contact our brokerage today for your Property Insurance Needs on 02 4932 4444 or email maitland@armainsurance.com.au