All Risk Insurance Claim Process
Scope of Cover and Documents required for Claims
All Risk Policy is a product designed to cover your valuable movable equipments like laptops, mobile phones, handy-cams, jewelers, and articles of intrinsic value like paintings and the like which do not remain confined to your own home and are exposed not only to natural perils but also to perils such as theft, snatching, etc. Barring a few perils like Earthquake, War etc., the Policy offers very comprehensive protection against many perils including any accident or misfortune not expressly excluded.
The Policy generally covers the following:
- Fire, Riot & Strike, Terrorist Activity
- Burglary, Housebreaking, Larceny or Theft
- Accidental loss or damage
- Loss or damage arising from moth, vermin, insects, mildew, wear and tear gradual deterioration, inherent defect or from any process of cleaning repairing or restoring
- Breakage of glass, china marble, earthenware and other brittle substances unless occasioned by fire/riot/strike/terrorism and/ or in an attempted theft/house breaking
- Over winding denting or internal damage of watches or clocks
- Mechanical or Electrical derangement/breakdown of any article unless caused by accidental external means
- Fire arms by rusting, bursting
- Loss or damage occurring outside the covered geographical area
- Earthquake or Volcanic eruption
- War and kindred perils
- Nuclear Risks
- Theft from any unattended vehicle
Documents required for Claims:
- Intimation to Insurance Company
- Completing the Claim Form
- For Fire claims report from the Fire Brigade.
- For Strike/Riot/theft/Burglary/snatching/ accidental loss FIR from the Police authorities.
- For Loss of items whilst travel, FIR with the police together with lodging a claim on the carrier.
- For accidental damage due to transportation then a claim on the carriers must be lodged.
- For accidental damage to Mobile Phones, Laptop, Cameras and other sophisticated items report of damage from the repairers together with the cause of damage.
- Obtaining Final Investigation report and Non Traceable Certificate from Police.
- Submission of letter of indemnity to Insurance Company where right of recovery exist.
In the event of Claims being repudiated by the Insurance Company the following options are available as a recourse:
- Make a representation to the Insurance Company/TPA.
- If no reply is received within 15 days on making such representation make a representation to the Grievance Cell of the Insurance Company.
- If No Reply is received or if the reply is not satisfactory then make a representation to the Insurance Ombudsman who has Quasi Judicial powers to hear the case and make adjudication.
- If still not satisfied the next option is to go to court.