Making an Insurance Claim After Exchange Day
After exchange day, you may file a claim under your building’s insurance coverage if your property sustains damage. Below are the steps necessary to file a claim:
How to Make a Claim on Your Policy
You should immediately call your insurance to report the damage and initiate the claims procedure. You must give documentation of the property’s injury and the repair or replacement cost.
What to Expect from Your Insurer
Your insurance will appoint a claims representative to assist you during the procedure. They will arrange for a surveyor to evaluate the damage and offer a cost estimate for repairs or reconstruction.
Your insurer will then pay out the insured amount, less any deductible, to cover the cost of repairs or reconstruction.