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Duties in the Event of Loss/Damage
Commercial
You must see that the following are done in the event of loss or damage to Covered Property:
- Notify the police if a law may have been broken.
- Give us prompt notice of the loss or damage. Include a description of the property involved.
- As soon as possible, give us a description of how, when and where the loss or damage occurred.
- Take all reasonable steps to protect the Covered Property from further damage, and keep a record of your expenses necessary to protect the Covered Property, for consideration in the settlement of the claim. This will not increase the Limit of Insurance. However, we will not pay for any subsequent loss or damage resulting from a cause of loss that is not a Covered Cause of Loss. Also, if feasible, set the damaged property aside and in the best possible order for examination.
- At our request, give us complete inventories of the damaged and undamaged property. Include quantities, cost, values, and amount of loss claimed.
- As often as may be reasonably required, permit us to inspect the property proving the loss or damage and examine your books and records.
Also permit us to take samples of damaged and undamaged property for inspection, testing, and analysis, and permit us to make copies from your books and records.
- Send us a signed, sworn proof of loss containing the information we request to investigate the claim. You must do this within 60 days after our request. We will supply you with the necessary forms.
- Cooperate with us in the investigation or settlement of the claim.
We may examine any insured under oath, while not in the presence of any other insured and at such times as may be reasonably required, about any matter relating to this insurance or the claim, including an insured's books and records. In the event of an examination, an insured's answers must be signed.
Personal
In case of a loss to which this insurance may apply, you must see that the following are done:
- Give prompt notice to us or our agent;
- Notify the police in case of loss by theft;
- Notify the credit card or fund transfer card company in case of loss under Credit Card or Fund Transfer Card coverage;
- Protect the property from further damage. If repairs to the property are required, you must:
- Make reasonable and necessary repairs to protect the property; and
- Keep and accurate record of repair expenses;
- Prepare an inventory of damaged personal property showing the quantity, description, actual cash value and amount of loss. Attach all bills, receipts and related documents that justify the figures in the inventory;
- As often as we resonably require:
- Show the damaged property;
- Provide us with records and documents we request and permit us to make copies; and
- Submit to examination under oath, while not in the presence of any other "insured," and sign the same;
- Send to us, within 60 days after our request, your signed, sworn proof of loss which sets forth, to the best of your knowledge and belief:
- The time and cause of loss;
- The interest of the "insured" and all others in the property involved and all liens on the property;
- Other insurance which may cover the loss;
- Changes in title or occupancy of the property during the term of the policy;
- Specifications of damaged buildings and detailed repair estimates;
- The inventory of damaged personal property desscribed above;
- Receipts for additional living expenses incurred and records that support the fair rental value loss; and
- Evidence or affidavit that supports a claim under the Credit Card, Fund Transfer Card, Forgery and Counterfeit Money coverage, stating the amount and cause of loss.
Flood
- Contact your insurance agent right away. Have your policy or policy number handy at all times.
- Give your agent phone numbers and addresses where you can be reached day or night.
- When an adjuster contacts you, ask for identification. Do not permit an adjuster to inspect your property without proper I.D. Unscrupulous repair men often try to take advantage of people who have suffered storm losses.
- Protect your property from further damage. Make whatever reasonable temporary repairs are needed, and keep a record of these repairs for possible reimbursement. Especially: Cover broken windows and holes in the roof or walls.
- Remember: Flooding generally is not covered under homeowners' policies. Flood insurance is a separate policy, though it may be purchased through local agents.
- If you do not have flood insurance, there are other possibilities for reimbursement. Check other policies for all opportunities for recovery.
Examples:
- Loss of food by spoilage due to electrical outages, or damage from power suges related to storms may be covered by your homeowners' policy.
- Damage to your motor vehicle may be covered under the comprehensive coverage on your auto policy.
- Some falling tree damage may be covered under homeowners' policies as well.
- Do not pay money, make any deposits for repairs, or sign any contracts for repairs until you have been instructed to do so by your adjuster and you have called the Better Business Bureau in your area to check on the people who are to do the work.
For insurance questions, call the Insurance Hotline at 1-800-259-5300 or (225) 342-5900, 8:00am-5:00pm CST.
This information brought to you by the Louisiana Department of Insurance, J. Robert Wooley, Commissioner of Insurance. www.ldi.la.gov
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