Will you issue a cheque to settle my loss or you will repair or replace the damage?

We are entitled to make the decision as to whether to repair, replace or cash settle a claim. We may ask you how you would prefer to settle, and you can try to negotiate.

 

Our obligation is to repair the damaged part only. Basically the company is obligated to bring the insurer in the same financial position he/ she was just before suffering the loss or damage.

 

When we choose to repair or rebuild, we are responsible for work.  This is provided under the General Insurance Code of Practice, which states that where your insurer has selected and directly authorised a repairer, they will accept responsibility for the quality of workmanship and materials and handle any complaint about the quality and timeliness of the work or conduct of the repairer. It must be noted that repairs carried out by our approved network of repairers are guaranteed for 12 months.

 

If you agree to a cash settlement and engage your own repairer, any issues arising from the quality of repair will be an issue for you to sort out with your own repairer.

Tags: cash, repair, replace

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