Immediately report the claim to our office Northside 780-475-0959 Southside 780-463-8095 Sherwood Park 780-417-2848 or after hours call Emergency Claims Numbers.
The information regarding the loss will be sent to your Insurance Company, who will assign a claims representative to resolve your claim.
The Claims representative role is to assist you in filing your claim. Generally, meeting policy requirements, and determining how the policy responds while providing service in an expedient and efficient manner.
Where applicable reasonable emergency or temporary repairs may be completed at your cost to minimize further damage, repairs should be undertaken prior to receiving approval from your Claims Representative.
If an insured loss occurs making your premises unfit for occupancy, or if repairs make it unfit for occupancy, there is a preset limit for additional living expenses. These are increases in the costs you incur to maintain the normal standard of your household. They may include the cost of temporary accommodations, moving costs etc. The reasonable time it takes to repair or rebuild your premises, or the time it takes to permanently relocate will determine the period over which increased expenses will be covered.
The statutory conditions of the policy require that you substantiate your loss. This includes providing original receipts and invoices of the lost or damaged items.
1. Repair - If an article is damaged but repairable, the cost of repair is payable, even if replacement cost coverage is carried on your policy. Where the cost of repair approaches the value of the article, repairability may not be economically practical. If you have concerns as to the repairability of an article, your Claims Represenative will be pleased to assist you.
2. Replacement - Where replacement is necessary, the policy requires it be done "promptly". This will vary with the type of loss as the loss of one article will demand less time to replace than when an entire house and contents are lost.
3. Cashout (ACV) - Actual Cash Value is payable, even if an article is not replaced. Cash value takes into account the age, condition and expected useful life of the article. A cash value basis is applied on policies that do not carry the replacement cost endorsement.
Proof of loss document is a sworn statutory declaration detailing the particulars of your claim. In some instances, an interim Proof of Loss is utilized. Once the final Proof of Loss is signed, it finalizes your claim.
You have one year in which to finalize or make your claim. However, in order to claim replacement cost, the policy requires the items to be replaced promptly. We normally allow 30-60 days to claim the replacement cost unless there is cause for further delay, otherwise you are entitled to the actual cash value.
The insurance company will pay for your loss, minus your deductible. The deductible is the amount of money that you agreed to pay towards your loss when you bought your insurance.
The statutory Conditions of the policy set out the procedures to follow in event of a disagreement. You need to file your proof of loss document itemizing and detailing your claim.
Policies are quite broad, however they do not always cover everything. It is possible that you may have a loss that is not covered. If you do, it is your responsibility to either repair or replace the damaged items.
You may want to check with Armour Insurance to see what other coverage options are available.
The broadest coverage for a personal property owner is a comprehensive homeowners, condo or tenants policy. Certain property such as cash, and jewellery have certain specified limits. Insurance policies are subject to limitations, exclusions and conditions. You should read your policy carefully and discuss your needs with your broker. If you are uncertain whether the policy will respond in the event of a loss, you may contact your insurance broker.
Statutory conditions are required by provincial legislation, to be included with each insurance contract (policy). These are a set of standardized "rules" which govern the policy to which they are attached. These impose certain obligations on both you, the the policyholder, and on your insurance company.
Your policy sets out your obligations when there is a loss, under "Conditions" and "Statutory Conditions". The "Conditions" set out the requirements for notice of accident or occurrence as well as the extent of your cooperation in assisting in the investigation of the claim. Compliance with the policy Conditions and Statutory Conditions are required on your part in order to pursue a claim under the policy.
The Statutory Conditions set out the requirements of the insurance company, as well as the policyholder. These obligations include:
Rates are affected by various factors, including location of the property, number of claims on a policy, amount of coverage and deductible amounts, to name a few. Your Insurance broker can assist you with these questions.
You will need to have your agent or broker explain this to you. Most building settlements are on Guaranteed Replacement cost and many policies settle contents on a Replacement Cost basis. Should you choose to settle on a cash basis, the settlement will then include depreciation.
Auto Accident Kit