Have you ever wondered what happens when you make a claim? At The Co-operators, we’re committed to the highest standards of integrity and client service during the claims process. Here’s how we help you get things back to normal as quickly as possible.

1. First, we gather details. We confirm your coverage and determine the cause of loss. A claims representative (called an “adjuster”) gathers information by visiting the scene. We can then check your policy to make sure you’re covered for the type of loss.
   
   
2. We then assess the damage to determine the value of the loss or damage, get repair estimates and speak to health care providers, if you’ve been injured. The claims representative uses appraisals and repair estimates to calculate the value of the loss or damage, and they may also ask you for information from invoices, receipts, photos, owner’s manuals and warranties. In some cases, you’ll be asked to complete a proof of loss form detailing the items lost or damaged.
   
   
3. Next, we either pay directly for repairs and other work or offer a settlement according to the terms of your policy. The amount paid out for a claim depends on the type of policy you purchased:
   
   
• Valued policies or Policies of Compensation set out the amount to be paid in certain circumstances.
  
  
• Under Actual Cash Value policies, you receive payment to replace a damaged or stolen item with one of the same age and condition.
  
  
• Replacement Cost policies provide payment based on the cost of repairing or replacing the damaged or destroyed item without factoring in depreciation.
  
  
4. Finally, we settle the claim by paying the amount outstanding less your deductible. Most insurance policies are based on the principle of “indemnity,” which means you will be put back into the same financial position you were in before the loss. The amount you receive is subject to the deductibles and limits specified in your policy.

To learn more about the claims process, visit our Insurance 101 page.