Your home owner’s policy can provide insurance coverage for both your building and Contents (Furniture, Appliances, Electronics and Jewellery), once you have elected to insure these items.
The following recommendations are provided to assist you when insuring your property:
- Ensure your home is adequately insured for the cost to reconstruct building? If not, you may be considered as self-insured for part of the loss in the event of a claim
- Prepare a detailed list of your Contents and provide same to the insurance company, with the actual cash value or replacement cost of each item.
- Know what perils are covered within the policy
Property claims may arise from a number of situations. The following process should be followed when making a claim.
1. Notify Gulf Insurance, your Agent or Broker immediately if there is an incident, and it is your intention to pursue a claim.
2. Report any burglary of theft to the police immediately.
You should try to obtain the following information for making a claim:
- Particulars of Accident/Damage to property/List of Contents
- Date | Time | Place of the Incident
- Photographs of Damage at Property
- Police Report.
- Estimate of Loss or Rebuilding Costs.
- VAT status Letter ( Trinidad and Tobago only)
Once a claim is submitted and the required claim documents and liability under the policy has been established. The damage to the building will be surveyed by an internal Claims Assessor or an Independent Loss Adjuster. Your contents claim will also be quantified by an internal Claims Assessor or an Independent Loss Adjuster. An agreed settlement between yourself and the Insurance company will then be negotiated.
If a Policy Deductible (Excess) applies, this amount will be for the Insured’s account.