Could you recover from your losses?

If the thieves get in, don’t let them win

A theft or break-in can spell disaster for businesses and homeowners alike, and without adequate insurance, the after-effects can be devastating. If you find yourself in the unfortunate position of needing to claim on your insurance, the key to getting it paid quickly and in full is to provide as much documentation as possible to help substantiate the loss.

Here are some of the steps you should take if you need to make a claim:

Obtain a police report

The theft must be substantiated and supported by an official police report. These reports are used by insurance companies to verify that an event happened in the first place. It is critical that a police report is filed in all claims involving theft and/or vandalism.

• Provide evidence of ownership and value

Insurance companies rely heavily on documentation provided by a policyholder to prove ownership of the items stolen or damaged and to substantiate their value. This documentation can be provided in a variety of forms, from videos and pictures to receipts and credit card statements.

Provide estimates to repair property damage caused by the theft

You should obtain two estimates for repair or replacement of any related property damage – including broken windows, doors, locks and equipment – that occurred as a result of the theft or attempted theft. Make sure you give these to your insurance company before carrying out the necessary repair work to ensure you are covered. Photos of any damage caused may also be required.

Talk to us about Loss Recovery Insurance

Loss Recovery Insurance pays for the cost of an expert loss adjuster to help you prepare, negotiate and settle your claims. These loss adjusters act independently of your insurance company, on your behalf, to recover your losses.

Some of the benefits of Loss Recovery Insurance include:

• Prompt visit to site, usually within 24 hours of the notification

• Help in mitigating the loss and disruption to your home or business

• Advice on emergency repairs and salvage opportunities

• Review of security measures if breached, in respect of physical building security and safety

• Advice regarding the appointment of specialist contractors and professionals including quantity surveyors, architects and engineers and help project managing the reinstatement process

• Assistance in sourcing equipment and arranging alternative premises

• Report preparation for interim payment request to insurers

• Initiation and hosting of all meetings with insurers, insurance company representatives and adjusters

• Challenges to insurers in respect of claims repudiations and reduced claims settlement offers where appropriate, including technical advice on under insurance and breach of warranty/policy conditions

For more information on Loss Recovery Insurance and the steps you can take to protect yourself from theft, please call Hine on 0161 438 0000.

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