Nobody wants to make an insurance claim, but it’s often unavoidable — in the event of weather, water/fire damage, accidents, vandalism, or theft.
In fact, according to the Insurance Bureau of Canada, insurers paid out $7.7 billion in home and property claims in 2020.
Therefore, if you find yourself in a situation where you must file an insurance claim, a little know-how can simplify the process and make it as pain-free as possible.
Here are 5 helpful home insurance claim tips courtesy of CAA Insurance.
1. Should you file a claim?
Before filing a claim, it’s important that you consider the cost of the repair, your deductible amount and claims history, and your ability to pay for the repair out-of-pocket.
Because if the repair is nearly as much as your deductible, it might be easier to just pay outright.
It’s also recommended that you always check your policy carefully to understand whether filing a claim would result in you losing your claims-free discount.
2. When to file a claim
In Saskatchewan, there are many situations that necessitate making a claim.
Some of the common reasons why people should file a home insurance claim are:
- Water damage, caused by seasonal flooding, severe weather, or frozen/burst pipes.
- Accidental house fires or those sparked by lightning also account for a sizable portion of claims.
- Vandalism and theft might also require costly repairs and replacement.
3. Assess the situation
If your home has suffered damage, survey the property and take steps to avoid further damage. For example, shut off the power and water. If you suffered a burglary, you must file a police report.
It’s also a good idea to document the damage by taking photos and video. Make a note of the goods that were damaged beyond repair or stolen. Be careful not to throw anything away yet.
To make this part easier, download the CAA property checklist to complete your own home inventory.
4. Call your insurer
Notify your insurance provider as soon as possible. If your policy is with CAA, you can either call us at 1-800-564-6222 or visit your nearest store and talk to a CAA Insurance Consultant.
Once you do so, your insurance provider will start the claim process for you and assign an adjuster. They may also suggest some local contractors and tradespeople.
An adjuster will help you assess the damage/loss and give you an estimate for repair and replacement costs. It’s important to note that this number may change as the claim is finalized.
CAA PRO TIP: As a CAA member, you can save 10% on your CAA Home Insurance coverage.
5. Clean up and repair
In the event of severe damage, you might want to hire a restoration company to help you clean up. In some cases, your insurance provider will cover this cost for you.
Once you get the estimates from potential contractors for the repair work, you can hire a trusted company to do the work for you.
When and how these repairs are paid for would depend on your claim and the specifics of your insurance policy. You can also ask your insurer if they plan to pay directly for repair costs or if you’ll receive payment to cover the costs.
Finally, once the work has been completed and you’ve been compensated for any losses, you’ll have to sign a few forms to complete the claim.
Save More with CAA Home Insurance
Having a CAA Home Insurance policy not only protects you and your home against losses arising from fire, theft, wind, vandalism, etc., but it also gives you some well-deserved peace of mind.
Also, since there is no limit on the number of discounts that you can enjoy, you can also add other discounts like claims-free and multi-line discounts on top of your CAA member discount.
For example, if you’re also looking for auto insurance, you could choose to bundle your CAA Home Insurance with our PlatesPLUS Auto Insurance and save an additional 10% on your home insurance premium.
You can also read the story of two of our members who by using their CAA memberships were able to save over $350 on home insurance.
Finally, you can also increase your protection by opting to go for our additional coverage options.
Water Coverage – We know that repairs caused by water damage add up fast. Reduce financial headaches with this benefit combining multiple aspects of water damage.
Claim Forgiveness -- If you haven’t made claims in the last five years, you could qualify for this valuable endorsement, which won’t be removed upon renewal after your first claim.
Service Line Coverage – This add-on protects you against rusty, corroded, or broken underground service lines running from the street to your home.