In an insurance policy, the deductible or excess is the portion of any claim that the insured bears in case of a claim. It is normally quoted as a percentage or fixed amount and is a part of most policies covering losses to the policy holder.
Insurance is a contract between the insured and the insurer and proposal form acts like offer from the insured side. It contains all the required information for the preparation of the policy. The policy becomes evidence of contract between insured and insurer
Underwriting of a risk involves consideration of material facts on the basis of which a decision will be taken whether to accept the risk and if so at what rate of premium.
Immediately notify the Police and/or appropriate authority (such as Local Council) in the area where the loss or accident occurred.
Obtain names and addresses of all witnesses.
If you have a camera, take photographs of the scene of the accident before anything is moved.
Do all that is reasonable to prevent further loss.
Immediately report to your Insurance Broker and/or National Insurance Corporation Limited (NIC) claims department giving as much details about the accident as possible.
Make sure you have a copy of your policy document and premium payment receipt.
All correspondence (letters, e-mails, claims, notice of intent to take legal action, writes, summons) with respect to loss or damage have to be notified and forwarded to NIC claims department immediately.
When reporting your claim make sure:
You have the Policy Number.
You are given a claim form
You are given a claim number, as this is your reference for all future correspondence. Make sure you quote the same on all correspondence to your broker or NIC claims department.
Documentation requirements
The following information/documentation shall be required to complete your claim. Remember the more information you provide the quicker your claim can be processed.
Police/Appropriate authority reports such as local council report
Medical reports
Original medical receipts
Post mortem and death certificate
Statement of employer on accident/ death
Pay slip of insured person or claimant
Copy of premium receipt
Police/Appropriate authority reports
Medical reports
LD forms from labour Office
Original medical receipts (medical Claims)
Post mortem and death certificate death
Statement of employer on accident
Payslip of insured person or claimant
Copy of premium Receipt
Police/Appropriate Authority Reports
Estimates of repair or invoices for replacement of lost/ damaged items
Copy of premium receipt
Do not
Rely on Police or Local Authority to report your accident to us. Report to us yourself.
Accept Liability
State the accident was your fault
Make any comments to any one except the police or to a representative of the Insurance company
Repair or replace lost or damaged property without authority from NIC
Dispose of damaged property and/salvage without authority from NIC
Fail to pursue recovery from third Parties as this will affect your overall claims experience.
Any occurrence which may give rise to an insurance claim must be reported to your insurance broker and/or NIC immediately you become aware of such occurrence failure of which your claim maybe prejudiced on the grounds of late notification
In all cases there is a claim form that must be completed.
