WHAT YOU MUST CONSIDER SERIOUSLY ON YOUR PROPERTY INSURANCE CLAIMS (A)

WHAT YOU MUST CONSIDER SERIOUSLY ON YOUR PROPERTY INSURANCE CLAIMS  (A)

Properties claim particularly, houses, factories high rise buildings, ware houses and skyscrapers are generally complex claims. Most people if not all people including the insurance companies themselves are ill equipped to determine exactly what is lost and what was not lost in a fire that gut a large ware house or skyscraper. It is noteworthy that virtually all insurance companies rely on special expertise of independent losses adjusters to ascertain the exact extent of  damage in this class of property losses! When you have assimilated this fact; then put your humble self whose knowledge of  insurance loss is probably as good as a that of a bar maid about mainframe computers! Hahaha. How could you possible know how to determine the exact loss when insurance companies’ experts don’t!? So while the insurance companies experts are getting the services of high profile loss adjusters, you ignorantly kept silent and wait for what the expert hired by your insurance company would come up with about your loss forgetting that that the expert is just there to do the bidding of the company that hire him and cares a hoot about your so called interest. Let me ask you this; Have been ever being in a situation  or imagined what it is like that you are sued by an opponent backed up by a high profile lawyer in fact a SAN (Senior advocate) and you don’t even have a lawyer? Do you hope or imagine that you would win such a case even if you are 99.99% right? Of course you can’t win such a case. The only guaranteed thing for you is total loss! So what do you do in your property loss in Nigeria? You just spend a little more of your money and get yourself the services of a loss adjuster just like the insurance company does. It would be worth every penny of yours. Your loss adjuster and the one hired by the insurance company would lock horn; just like the senior advocate and a fellow senior advocate in a law suit. They understand each other’s language! Most time you may get extra 25 to 35% of what insurance company would have admitted to pay you!

How to Claim, Property insurance

Ø Report loss within 48 hours

Ø If police and fire fighters are involved obtain their reports

Ø Get photographs of the property in question as much as you can

Ø  Take 2 to 3 as well as the policy document to the insurance company make sure they acknowledged receipt on an extra photocopy.