Documenting Damage For Successful Home Insurance Claims In The Uae – The most important aspect of insurance is that it protects you from financial liabilities, whether it’s as small as luggage damaged during your trip or as big as an expensive surgery. If something like this happens to you that is covered by one of your insurance plans, you need to submit a claim to get financial compensation. But since different types of insurance have different claims processes, including the fine print, successfully filing a claim can be frustrating. Below, we aim to break down the basics of filing a claim, from the general process to filing with multiple insurance companies.
Every insurance company has different claims procedures. To break it down further, each type of insurance also has different procedures. In general, there are three things you need to be aware of when filing a claim: the time period between submitting the claim and the insured event, the documents you need, and the method of submission.
Documenting Damage For Successful Home Insurance Claims In The Uae
The period between the occurrence of the insured event and when you need to submit a claim is generally 14-30 days. However, depending on the type of insurance and the insurance company, your time may be longer or shorter. For example, you have to report a car accident within 24 hours and start the claims process immediately. Other, smaller car insurance claims can be filed within 14 days. Health insurance claims have longer claim submission windows. For example, some insurers allow you to file hospitalization claims within 90 days from the billing date and within 120 days of pre-hospitalization or post-hospital treatment claims. You can find out how soon you need to file a claim by reading your policy document. However, it is best to file your claim as soon as something happens to get your payout as soon as possible.
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The documents you need depend on the type of claim you are submitting. They are vital to ensure your claim is processed correctly and without delay. Make sure that all the documents you submit are legible and have a copy (original or copies) as specified by the insurance company. You will need to retain these documents for a period of time after you submit your claim in case you have problems with your claim.
You should also note that you need to submit your claim. As insurers adopt new technologies, we are seeing an increase in online or mobile submissions. In most cases, you can claim for general insurance claims (ie travel, car, home, maid, etc.) online or through email submission. For death or hospitalization claims, you will need to email, fax or mail the claim form and documents. Private health insurance requires you to submit your documents electronically to the hospital. Almost all insurers with physical offices in Singapore require you to visit one of their branches to lodge your claim.
The amount of time it takes to process your claim depends on the insurance company and the type of claim you are filing. Some claims may be submitted and processed automatically, such as medical claims for FWD’s travel insurance. Other claims, such as car insurance claims, may take longer as they require a more thorough investigation. From our research we found that it is pretty standard to expect a processing time of a few weeks for most types of claims. To avoid excessive processing time, you must submit all the right documents with all the right information. Spelling your name incorrectly can add weeks to your claim process.
Some insurers only state the acknowledgment time on their website, while others tell you how long it will take to process your claim. An acknowledgment simply indicates that the insurance company has received your claim. Processing time is the amount of time your insurance company takes to process your claim before making a decision.
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It is possible to file a claim with multiple insurance companies. However, your success rate depends on the insurance policy you are claiming for. Life insurance and related products (endowment, investment related, critical illness, personal accident) allow you to claim on multiple policies. However, you should note that there will be an overall limit to the amount you can claim.
You cannot claim on more than one Integrated Shield Plan policy as you cannot buy more than one. If you have another health insurance policy provided by your employer, you will need to file a claim under your group or company policy first and then file a claim under your Integrated Shield scheme. Your payout will depend on the remaining amount not paid by the first insurer.
Like health insurance, general insurance policies like home, car, travel and maid do not allow you to file the same claim with multiple insurance companies. For home insurance you need to file a claim with MCST or HDB Municipal Council before filing a claim. Payout will be made only if the loss or damage is not covered by HDB Municipal Council or MCST or if the loss or damage exceeds the limit of insurance taken out by MCST or HDB Municipal Council.
However, if you don’t have enough coverage in one of your policies, you can purchase multiple general insurance policies. You may not be able to claim for the same event, but you can claim for different events across different insurances (for example, claiming for medical expenses with one insurer and travel delay with another). However, doubling your insurance coverage can be expensive. Instead, you should compare plans carefully and buy a plan that fully covers your concerns. If you’re worried about insufficient coverage, we provide in-depth guides to a variety of popular insurance policies, including travel, car, home, health and life.
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If your claim is denied, you can appeal the denial. However, this is a multi-step process that is complex and can take a long time. Before you decide to appeal a denied claim, you should read why the claim was denied. This could be because you submitted a claim for an omitted event, forgot to disclose important information or forgot to submit required documents.
If you believe your claim was denied for any of these reasons, you can submit a complaint directly to your insurance company. Your complaint should be acknowledged within 3 working days and a progress update will be communicated within 14 working days. If you are dissatisfied with the response, you can appeal to the CEO of the insurance company. If this does not improve the situation, you can file a free complaint with the Financial Industry Dispute Resolution Centre. You can file a free complaint by fax, post, email or in person.
The best way to reduce the chances of your claim being denied is to thoroughly review your policy documents. Your policy document will distill everything you are and don’t cover and will also tell you which events fall into which categories. You may find that the exclusion is not limited to certain events, your claim may be rejected by your insurer if you have been negligent or if you have done something to increase the risk of an insured event. For example, something as innocuous as leaving your car door unlocked while you run to get something from the store can get you in trouble with your car insurance company. You should also ensure that you fully disclose all relevant information on your application. For example, denying your pre-existing condition will get you in trouble with your insurance company and you won’t be able to make a claim for that condition.
You should also submit as much relevant documents and information as possible while filing your claim. This is essential for policies with a high volume of fraudulent claims, such as travel insurance.
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Finally, you must follow all the instructions while submitting the claim. Every insurance company has a dedicated claims section that tells you the steps to follow, the forms you need to fill and the best way to submit your claim. If you have any questions, you can always contact your insurance company and they will be able to help you.
Anastasia is a Senior Research Analyst based in Singapore, evaluating insurance products for consumers based on quantitative and qualitative financial analysis. She holds degrees in Economics and International Business Management and her previous work experience includes working in the capital markets sector. Her analyzes on insurance, healthcare, international affairs and personal finance have been featured on AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, the Australian Institute of International Affairs and more.
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