They are as follows:

Claim settlement is one of the most important services that an insurance company can provide to its customers. Insurance companies have an obligation to settle claims promptly. Most claims are settled by issuing a cheque within 7 days from the time they receive the documents.

Policy lapse means your policy has lost its existence on papers. Filing claim for a lapsed policy won’t fetch you anything, meaning to say your claim would get rejected. It is necessary to pay yearly premiums as maintenance towards your Term plan, on or before due date.

• 1) Cashless facility: Under this method, the insurer settles your hospitalization bills directly with the hospital.
• 2) Reimbursement: You pay for hospitalization expenses upfront and get reimbursed by the insurer on discharge from hospital and submission of necessary documents.
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A good adjuster will go through every piece of paper with a fine-tooth comb, reading every page of medical bills and records to see if anything is missing. They’ll also see if anything suggests that the claimant has had prior injuries or that the claimant is malingering, or if the lost earnings raise any questions.

A surveyor will be appointed by the insurance company to estimate the actual loss or damage in the spot of the incident. The claim estimation will be done basis on the report made by the surveyor. Also, keep the original reports of the investigation or related documents for future reference.

ADVERTISEMENTS: The actual amount of claim is determined by the formula: Claim = Loss Suffered x Insured Value/Total Cost. The object of such an Average Clause is to limit the liability of the Insurance Company.

What is not covered under fire insurance? Damage or loss caused to insured property by pollution or contamination. However, policy overs the pollution or contamination resulted out of insured perils. If an insured peril is a result of pollution or contamination, then that is not excluded.

Thought it is called ‘Fire Insurance’, apart from the risk of fire, it also offers cover against lightning, explosion/implosion, aircraft damage, riot, strike and malicious damage, storm , cyclone, typhoon, hurricane, flood and inundation, impact damage, subsidence and landslide including rockslide, bursting and/or …

Fire insurance coverage includes mishaps caused due to accidental fire, lightning, implosion or explosion, etc. And also, man-made perils such as bursting of water tanks and pipelines or overflowing, leakages from water sprinkles, and so on.

Homeowners insurance typically helps protect personal belongings from specific risks (described in most policies as “perils”), such as fire and lightning strikes. If your belongings are damaged or destroyed in a fire, homeowners insurance may help pay to repair or replace them.

If you lose your home to a fire, the standard homeowners insurance policy will cover the cost of damages. Just make sure you report the loss as soon as possible. You’ll want to get in touch with your agent or broker and file a claim right away. Report how, when and where the damage occurred.

After the Fire or Disaster: Dealing with Your Insurance Company

1. Get an Advance.
2. Secure Your Property.
3. File Your Claim Right Away.
4. Make Sure the Insurance Company Acts Promptly.
5. Keep Track of Your Living Expenses.

The average cost of replacing a well pump is between $900 and $2,500. The cost varies based on the well size, materials used, and installation required. For example, replacing a shallow well pump will cost less than a deep well submersible pump.

DO NOT use any well coverings. Even though the sight of your wellhead may not be your favorite thing, you should not cover it up with any fake rocks, gravel, treated wood, or wishing wells.

$3,750 – $15,300 (Average Cost) The average cost to put in a new water well is $3,750 to $15,300 while installing a well and septic system costs $6,000 to $20,000. Well drilling costs $25 to $65 per foot for a complete installation, or $15 to $25 per foot just to drill.

30-50 years

In general, when it comes to water quality and well depth, there’s one golden rule: the deeper the well, the better the water quality. As you go deeper down, there’s a higher chance that the water you encounter will be rich in minerals.

As a natural source from the Earth, well water automatically tastes better than city water. Well water is also healthier because it’s full of minerals and isn’t treated with harsh chemicals. City water is treated with chlorine and fluoride because it comes from lakes and rivers with many pollutants.