Claims – Property Insurance


As a follow up to last week’s post, we would like to provide you with some information specific to Property claims.

What to do in the event of a Claim?

To ensure that your claim is processed quickly and efficiently, it is important to report your claim to our Brokerage as soon as possible.  We recommend taking the following steps:

  • Call police, emergency medical assistance, or the fire department, if necessary
  • Provide first aid and assistance where necessary
  • Obtain the name and number for any independent witnesses, if applicable
  • Take pictures of the damage, if applicable
  • Contact our Office at 403-245-2424, or if after-hours and the claim is an emergency, you can contact the emergency 24/7 claims line for your Insurer (available on our website)

When you contact our Office, one of our knowledgeable Brokers will be able to assist you by taking down the details of the claim and providing you with advice on coverage. In some instances, the damage or loss may be less than your policy deductible, or may cause the loss of a claims free discount or rating change.  Our Brokers can review the impact of the claim on your policy and coverage so that you can make an informed decision prior to submitting your claim.

Once the claim is submitted, an adjuster will be assigned to your file. They will contact you to verify the details and then will arrange for any estimates to be completed, as necessary.  Once these have been completed and any required receipts have been submitted, the adjuster will determine the settlement amount and/or authorize for repairs to be completed.  In the event of injuries or a total loss, there may be additional forms that the adjuster requires you to complete. Should you have any questions or need assistance completing these forms, we would be more than happy to help.

In the event that a claim is put through on your Insurance and it impacts the rating, the change in premium will take effect as of the next renewal term. For example, if you had hail damage claim on May 1st, and your policy renews on November 1st, the change in rating and subsequent premium increase would not take effective until November 1st.  With most Insurance Companies, property losses will impact your policy for a minimum of three (3) to five (5) years.

There are several steps that you can take in order to minimize the chance and impact of a claim, including:

  • Regular maintenance of your property
  • Lock up (and even better, get an alarm!)
  • Do not leave candles or the stove (while cooking) unattended

In order to help minimize the impact of a claim on your policy, we recommend adding the following endorsements (if your policy qualifies):

  • Clams Protector Endorsement (protects your claims free status and discount in the event of a first loss)

Our Office is also happy to provide you with the following tools, which can assist you in managing your Insurance policies and belongings:

  • Inventory booklet
    • We can provide you with a hard copy or email version of the booklet, which allows you to record a list of your personal belongings and corresponding values
    • We can store a copy of the booklet on your file if you would like to keep a copy off-site
    • This booklet allows you to have quick access to a list of your belongings in the event of a claim (especially important if you had a total loss)
    • Mobile App
      • Our Brokerage offers a mobile application for your Smart Phone where you can keep track of your policy information and submit claims
      • The mobile application also offers a personal inventory feature where you can record information and store pictures

Hopefully you have found this information helpful.  If you have any questions regarding the information in this post, or if we can be of assistance in answering questions about your policy, coverage, or claims, please contact us!

Thank you,

The Costen & Associates Team