Property Claims

Property Claims Requirements

In the event of fire loss incident, simply do the following:

  • Immediately file a notice of claim to any R&B Insurance Co., Inc.
  • Take all reasonable steps to preserve the debris and traces of fire and protect the property from further damage.
  • Once the loss has been investigated/inspected by R&B Insurance Co., Inc. In-House Adjusters. SUBMIT ALL REQUIRED DOCUMENTS LISTED BELOW for the processing of your claim.

General Requirements

Insurance Policy and its Official Receipt

  • Insurance Policy and its Official Receipt
  • Endorsement / attachments (if any)
  • Certification from Bureau of Fire Protection
  • Photographs
  • Assured’s Affidavit or Statement declaring nature of ownership of the property
  • Location of property
  • Extent of damage and salvage value
  • Value of property damaged or destroyed
  • Copies of TCT’s Tax Declaration duly Certified
  • Year the building was constructed and original construction cost (for building loss only)
  • Any information relative to the loss
  • Picture showing the damage portion of the property

Additional Requirements for Building Loss

  • A Civil Engineer’s or Architect’s detailed estimate (obtain at the expense of the assured) to place the building in the same state as before the fire (No contemplated improvements may be included in the estimate and a proper allowance for age and depreciation, etc. must be allowed).
  • Certified copy of the building permit
  • Certified copy of declaration of Real property
  • Copy of plan of the building or sketch prepared by an Engineer/Architect
  • Lease contract or agreement if the assured is not the lot owner
  • Certified lot title
  • Deed of Sale if TCT’s Tax Declaration is not in the name of the assured at the time of loss

Contents / FFF / Machinery & Equipment Loss

  • Contract of Lease or Agreement (if Assured is not the building owner)
  • A complete inventory of all the items contained in the insured premises showing the cost price of each and date acquired.
  • A detailed inventory or list of the articles damaged or destroyed showing the cost price of each and date acquired.
  • Records, purchase invoices, delivery receipts or any other proof of acquisition

If insured property is owned by the company or corporation:

  • Mayor’s Permit/ Business License/ Certificate of Registration of Business Name
  • Certified copies of Income Tax Returns for the last two (2) years and accompanying Financial Statements filed with BIR, in case of total loss.

Stock-In-Trade

  • Contract of Lease or agreement (if Assured is not the Building owner)
  • A complete inventory of all the items contained in the insured premises showing the cost price of each and date acquired.
  • A detailed inventory or list of the articles damaged or destroyed showing the cost price of each and date acquired.
  • Records, purchase invoices, delivery receipts or any other proof of acquisition
  • Mayor’s Permit/ Business license/ Certificate of registration of Business name

I. In Case of Total Loss

  • Certified copies of Income Tax Returns for the last two (2) years with accompanying Financial Statements filed in BIR
  • Purchase and sales invoices/Delivery Receipts or vouchers or Official Receipts (Purchase and Sales) / Purchase and sales journal and other business records.
  • In the absence of invoices, submit supplier’s certificate of itemized sales and deliveries
  • Latest inventory of merchandise submitted to BIR prior to the loss
  • Other Pertinent documents relative to the business

II. In Case of Partial Loss

  • Certified copies of Income Tax Returns for the last two (2) years with accompanying Financial Statements filed in BIR
  • Purchase and sales invoices/Delivery Receipts or vouchers or Official Receipts (Purchase and Sales) / Purchase and sales journal and other business records.
  • Complete inventory or list of all the damage items contained in the Insured premises showing the cost price of each, extent of loss, and salvage value if any.
  • Other pertinent document relative to the business

Very Important Reminders

  • If you have other insurance companies covering your properties (especially stocks-in-trade, good in process and inventories), immediately notify R&B INSURANCE CO., INC. and declare such other insurance coverage.
  • If there be any alteration, changes or modifications in the occupancy and construction of the insured property, please notify R&B INSURANCE CO., INC. immediately

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