Insurance is a contract between an individual or an entity (the insured) and an insurance company (the insurer), where the insured pays a premium in exchange for financial protection against specified risks or losses.

All-risk coverage is a type of insurance policy that provides protection against all types of risks and perils, except those specifically excluded in the policy. This comprehensive coverage is designed to offer broad protection for the insured property or assets.

1. Notify the Insurance Company: Inform your insurance company about the incident as soon as possible. You can typically do this by phone, email, or through an online portal.

2. Provide Documentation: Gather any necessary documentation related to the claim, such as police reports, medical records, or invoices for damaged property.

3. Submit the Claim Form: Complete the claim form provided by your insurance company. Include all relevant details about the incident and the damages incurred.

4. Assessment: An insurance adjuster may be assigned to assess the damages and determine the validity of the claim. They may conduct investigations or inspections as needed.

5. Claim Approval or Denial: The insurance company will review the claim and either approve or deny it based on the terms of the policy and the findings of the assessment.

6. Settlement: If the claim is approved, the insurance company will offer a settlement amount to cover the losses. Once agreed upon, the settlement is paid out to the insured party.

7. Appeal (if necessary): If your claim is denied and you believe it was unjustified, you may have the option to appeal the decision through the insurance company’s appeals process or seek legal advice.