Making an insurance claim can be stressful but it is important that the proper process is undertaken to ensure a swift process.
Policyholders should contact their insurance provider as soon after an event as possible. If the claim is due to theft or a serious accident, the insurance provider should be contacted immediately.
Policyholders should review their Product Disclosure Statement (PDS) to ensure their claim is valid and not subject to exclusions.
Claims Processes
General insurers in Australia operate under a Code of Practice, monitored by the Financial Ombudsman Service. The Code of Practice outlines how insurers must respond to claims.
Once a claim has been lodged, an insurer has 10 business days to respond and communicate an initial assessment of the claim. If an insurer decides to appoint an assessor, policyholders will be notified within five business days of their appointment.
Insurance providers will notify policyholders of their claim process every 20 business days. If policyholders require a different timeframe, they should contact and negotiate with their provider.
Contacting your Insurer
It is important to provide as much detailed information as possible when you first contact your insurance provider.
Where property is damaged, it is important to document that damage. Photographs and detailed notes will assist the insurer to assess a claim swiftly and appropriately.