The amount of insurance compensation is determined on the basis of legislation and the rules established by the contract. The procedure for determining the conditions and procedure for payment consists of regulating the justification of the methodology for calculating the amount of insurance compensation, as well as establishing the grounds for compensation. In order for the insurance indemnity to be paid, a basis for making such a decision is necessary, that is, the presence of the fact of an insured event.
It is necessary
- - insurance contract;
- - insurance act;
- - application.
Instructions
Step 1
The occurrence and identification of an insured event corresponding to the contract is confirmed by a list of stolen or damaged property, a statement of the occurrence of the event and an insurance act on theft or destruction of property. If all documents are drawn up in accordance with the contract, then there should be no problems with payments.
Step 2
The insurance act is drawn up in the manner prescribed by the insurance rules and confirms the circumstance and reason of the insured event. Only on the basis of the insurance act, it is possible to calculate the amount of damage caused to the property, to calculate the amount of compensation, and also to determine the right to receive this compensation.
Step 3
To calculate the amount of insurance indemnity, you need the data provided in the policyholder's application, as well as the established and recorded data in the insurance act. In addition, you should use the information provided by the competent authorities if you intend to contact them.
Step 4
The cost of damage is determined based on the insured value. Compensation is determined on the basis of the damage that occurred, as well as the terms of the contract and is the full amount of damage, or a part of it, due to be paid in accordance with the contractual terms. In case of insurance for an incomplete insured value, the indemnity is paid in a proportion that corresponds to the ratio of the insured value to the amount.
Step 5
In practice, insurance is often used according to the first risk system, in such cases the insured is reimbursed for damage only for the first case in full, but not more than the amount that was paid for insurance premiums. If the losses were less than the sum insured, then the contract is valid up to the remaining amount. When the amount of damage exceeds the sum insured, it remains at the risk of the policyholder.
Step 6
When the policyholder receives partial or full compensation for the damage from the person who caused it, the insurer is partially or fully exempted from paying the insurance indemnity.
