How to avoid issues when submitting an insurance claim
At OTIP, members are our reason for being, and helping you protect the people and things that mean the most to you is what we do best. No one wants to be faced with unexpected obstacles during the claims process, and we strive to make it hassle free. To ensure you don’t run into any issues when submitting a home or auto insurance claim, review these tips.
1. Understand your current policy
Read the details of your policy. One insurer may exclude water damage while another includes it. Certain policies may restrict coverage during home renovations while others have no such clause. Some coverages must be added on to your policy to cover specific situations — if you don’t have overland water coverage as part of your home insurance policy and your house floods due to overflow from a nearby lake, a claim for the resulting damage wouldn’t be covered under your policy. Review your policy and speak with your insurance broker about any questions you have. Your broker can also recommend add-ons to your policy to ensure you have all the coverage you need.
2. Disclose any changes and crucial information to your insurer
Even if damage or loss is covered by your policy, a claim can be denied if the insurer was not informed of important changes that impact your policy. If you make any changes such as buying a new car, modifying your car, renovating your home, letting a new driver use your vehicle, changing addresses or using your car or home for business purposes, you must let your insurer know immediately. Then you can rest assured that if you must file a claim, there won’t be any surprises for you or your insurer.
3. Document all information relevant to your claim
When submitting a claim, you will need to submit documentation to support that claim such as invoices or photos pertaining to items that have been lost or damaged. Keep any relevant documentation stored in a safe place so it’s easily accessible when you’re preparing to file your claim. Although your insurer can decide to grant your claim for a stolen or damaged item without requiring a receipt, it does make the claim process smoother when you have a list of your belongings and Proof of Ownership. See our tips for making a home inventory.
Documentation is crucial even before you need to file a claim. As you set up your insurance policy, it’s important to proactively provide your insurer with copies of jewelry or art appraisals, as some specialty items need a special endorsement to be covered for their full value. Watch “OTIP Protip: Adding Jewelry to your Insurance Policy” to learn more.
4. Don’t wait too long to submit your claim
The longer you wait to submit a claim, the harder it will be for your insurer to validate. For car and home insurance, a claim for physical damage must be submitted within a year. For a claim involving a bodily injury resulting from a car accident, you have up to two years to submit. That doesn’t mean you can wait for a full year though! You should submit the claim as soon as you’re able, as you could forget or lose vital information if you wait too long to file. Do yourself a favor and submit your claim immediately so that all the details are fresh in your mind and the documentation is easily accessible.
If you have any questions about your current home or auto policy coverage, call your OTIP broker at 1-888-494-0090. To get a quote for home or auto insurance, call 1-888-892-4935.
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