What to do in case of an insurance event?

In our daily lives, we face various unforeseen circumstances. Insurance acts as a tool to help us overcome these situations without disrupting our lifestyle or financial stability. This article explores the key steps to take when dealing with some of the most common insurance events.

What is an insurance event?
An insurance event occurs when a covered risk, as specified in the terms of an insurance contract, happens during the policy period. Upon the occurrence of such an event, the insurer is obligated to compensate the insured appropriately.

Here are the main steps to take if you experience property damage or a non-material loss.

1.Stay Calm
Often, when faced with an unexpected adverse event, panic can lead us to take actions that complicate the situation instead of resolving it. Therefore, no matter how challenging the moment may seem, it is crucial to stay calm.

Depending on the nature of the event and if circumstances allow, ensure safety and prevent further damages, both for yourself and others around you. It is essential to understand the steps to assess the situation and act appropriately. These steps will vary depending on the type of insurance policy under which the damage occurred.

We recommend that, upon obtaining an insurance policy, you familiarize yourself with the process and terms of the insurance coverage.

2. For Vehicle and Property Damage
In case of damage to your vehicle or property, it is crucial to take all necessary actions to minimize the harm. If there are injured individuals, call emergency services at 112 immediately.

If you are involved in a traffic accident or a single-vehicle crash, secure the scene by placing a warning triangle—a mandatory accessory for vehicles. Next, notify your insurer using the designated phone number. Euroins customers, for example, can call a 24/7 helpline for assistance in any situation.

In minor accidents, where the vehicle is roadworthy and safe to drive, a bilateral accident report must be completed. This document should be prepared and signed by all parties involved, detailing the events, identifying the at-fault party, and specifying the insurance coverage for the vehicles. If you are unsure about assessing the situation, call 112 and wait for the authorities to arrive.

If the accident occurs abroad, do not sign documents in a foreign language unless you fully understand their content.

Be aware of claim deadlines for notifying your insurer. For example, with motor (CASCO) insurance and third-party liability insurance, the usual reporting deadline is 3 business days. However, for incidents such as vehicle theft or burglary at home, the deadline is 24 hours. Detailed information about all required deadlines and documentation for filing a claim with Euroins can be found at www.euroins.bg.
 

Main Required Documents for Filing a Claim

You should know that depending on the type of damage and the insurance policy, the insurer reserves the right to request additional documents from you.

3. For Travel and Tourism-Related Incidents

If you plan to travel abroad, it is highly recommended to obtain "Travel Assistance Insurance." Over recent years, this policy has become an essential part of any trip, offering invaluable peace of mind while traveling internationally.

If you require medical assistance outside Bulgaria, you must immediately contact the assistance company. They will provide clear instructions on what to do and direct you to the nearest medical facilities. Assistance companies can be reached via phone or chatbot in Bulgarian 24/7. Contact details for the assistance companies partnered with Euroins are listed on your insurance policy and at www.euroins.bg.

In cases of theft, lost luggage, delays, or missed connecting flights, notify the relevant authorities within 24 hours of becoming aware of the incident and request documentation verifying the event.

Finally, make sure to inform your insurer promptly about the incident and file a claim within the specified deadline.

Main Required Documents for Filing a Claim

In conclusion do not forget that adhering to all requirements is crucial. Failure to comply may result in the denial of compensation.

If you have any questions or uncertainties, immediately contact your insurer and follow their instructions precisely.

What Happens After Filing a Claim?

The insurer reviews the claim, analyzes the submitted documents and evidence, and determines whether they align with the insurance policy terms. Based on the findings, the insurer decides whether to deny the claim or pay the entitled compensation.

If the insurer denies the claim, they must provide a written explanation for their decision, citing facts, policy terms, or relevant laws and regulations.

You have the right to appeal the insurer's decision and even seek legal recourse if necessary.

Remember, the primary purpose of insurance is to offer financial protection and peace of mind during unforeseen circumstances.