Clear Do's and Don'ts of Filing Insurance Claims During the Flood

The sight of seeing your vehicle or home submerged in a flood is unbearable. The monsoon in 2023 has wreaked havoc to properties and vehicles, especially in the northern part of India. It is speculated that several infrastructures, properties and motor vehicles could be affected due to heavy rains. Car and bike owners could bear the brunt of flooding, especially while travelling to their workplace.

 

Hence, the Insurance Regulatory and Development Authority of India (IRDAI) urged insurance companies to handle flood-related claims on a fast track basis and has advised to mobilize all resources to ensure immediate service response for the flood-related areas. (source:economictimes).

 

According to an IRDAI circular issued on July 16, 2023, "Special Claims Desks at District level, with adequate delegated Claims Settlement Teams, are recommended to be set up in affected areas to facilitate speedy claims process and settlements, including the release of on-account interim payments to assist early reinstatement of property/businesses."

 

IRDAI has also stated that all claims are examined accurately where the claim payments or on-account payments are allocated as soon as possible, and does not exceed the deadline.

 

As an insured must it is crucial for you to understand the extent of protection provided by flood damage coverage in insurance policies to avoid making possible mistakes while filing for a flood claim. For instance, it is not advisable to sell or remove any damaged parts before the surveyor's approval. Also, try to avoid overstatement of repair costs as the insurance company provides fair remuneration. Furthermore, it is required to have comprehensive insurance cover so that floods can be covered because third parties are not covered for flood-related claims.

 

Important Do's for Filing a Claim for Flood Damage

Here's what you should do to raise a claim for flood related damages.

Intimate Your Insurance Company ASAP

If you have home insurance or motor insurance use it in a wise way at the time of claim. If you see any problem with your vehicle or property due to flooding, avoid taking any action on your own. Instead, inform your insurance company about the situation and ask for assistance as soon as possible. Call your insurer's toll-free number, email or send a message to the online support team. Also, you can update the details on the website that will save your data securely.

 

Compile the Proofs and Documents

The next most important thing you should do is to start collecting proofs of the damage which will help in clarification at the time of inspection. Take clear pictures of the loss and damage, and make a video of the accidental spot without any disturbance. Collect all the possible evidence, it will ultimately help smoothen the claim process.

 

Gather All the Important Documents

Documents are necessary to be submitted at the time of the claim processing. Collect all required documents and identities such as Insurance Policy Copy, Aadhar Card, Driving License, PAN Card and whatever possible notes. Try to save these documents in digital format along with physical documents. Also, save the bills and receipts as they are really important to be submitted. Digital documentation is important as it has negligible chances of destruction of files saved in an electronic device rather than a hard copy that can be easily destroyed in flood.

 

Important Don'ts for Filing a Claim for Flood Damage

Here are some of the don'ts while filing a claim for flood related damage.

Don't Panic

Please do not panic when you see your assets in such an unpleasant situation. Panicking could worsen the process of the insurance claim.

 

Avoid Starting the Vehicle Engine in Flood

When the vehicle is submerged in flood, avoid starting the engine as that may lead to certain harm to internal parts including the engine and transmission. Vehicle insurance does not cover consequential damage. Hence, ensure you do not start your vehicle engine.

 

Don't Drive in Waterlogged Areas

It is always advisable not to drive a car in a flooded area as there could be possibilities of bumpy constructions, open drainage or potholes on the road. These couldn't be visible because of the water logging. Hence, you should avoid this route as it can lead to physical damage.

 

Avoid Initiating Repairs Before the Inspection

Don't initiate repairs until you have informed the insurance company and surveyor about the damage as it may complicate the claim process.

 

Conclusively, the situation of a flood is quite unpleasant and may affect your lifestyle and commuting on a daily basis. And, what troubleshoot all your safety requirements is the general insurance policy cover you have taken. Ensure you follow the do's and don'ts for a successful claim against flood damage.