Insurance Claim Process for Hurricane Irma/Maria
You’re our priority
You chose us and our commitment to you is to:
- Handle all of your insurance claims individually and on a case by case basis.
- Have your claims paid out within 48 hours of receiving and verifying all of the necessary documents and the site visit completed.
- Allocate additional staff resources to facilitate the influx of claims
Insurance Claims Process 101
Documents to be submitted by customer based on amount of the Insurance settlement cheque.
|Less than USD $10,000||USD $10,000 to USD $99,999||USD 100,000 & Over|
|Copy of Loss Adjuster’s Report||Copy of the Loss Adjuster’s report||Copy of the Loss Adjuster’s report|
|b. Complete & sign Acknowledgement letter||Obtain an itemized contractor’s estimate showing materials and labour cost by stages separately and compare same to Loss Adjuster’s report.||Obtain an itemized contractor’s estimate showing materials and labour cost by stages separately and compare same to Loss Adjuster’s report.|
|c. Cheque deposited to customer’s account and available for disbursement||Customer meets with banker to agree on the scope of work to be completed.||Customer meets with banker to agree on the scope of work to be completed|
|Complete & sign Acknowledgement letter||Deposit cheque to customer’s account with a hold of funds|
|Deposit cheque to customer’s account with a hold of funds||Customer to provide copy of contractor’s allrisk insurance|
|Branch to issue drafts payable to contractor and/or suppliers||Branch to issue drafts payable to contractor and/or suppliers|
|Branch to complete site inspection prior to any subsequent disbursement to ensure home is being repaired as agreed||Quantity surveyor assessment of repairs, cost and drawdown schedule with report on each stage of repairs|
|Updated appraisal to be obtained upon completion||All requests for contractor’s drawdown to be made in writing and supported by photos of work completed|
|Updated appraisal to be obtained upon completion|
Once approved, how will I be given the funds?
The funds will be paid directly to your contractor/vendors by cheque or wire transfer at no charge.
What if I decide to use a different contractor once the claim is approved?
Unfortunately we can only issue funds directly to the contractor of the estimate submitted. If you wish to use a different contractor, you would need to resubmit a new estimate for review and approval.
I got an estimate from my contractor which shows the total cost for the work, will that be sufficient?
No, we need to see an itemized estimate of what the material and labour will be separately, formatted for each stage payment
Why won’t you accept my invoices for items I bought to replace destroyed property in the storms?
We can only accept invoices that relate to items noted in the insurance adjuster’s report. Any other items will not be accepted.
It starts with you.™
Call 649 339 7100, visit your nearest branch or go to tc.scotiabank.com
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