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fr In-kind repairs: everything you need to know about this alternative
Repair in kind (RIN) is a central concept in insurance. Rather than compensating the insured financially, the insurance company undertakes to repair or replace the damaged property. This article provides a simple explanation of the concept of repair in kind, illustrated by concrete examples, and explains why it is advantageous to call in a professional to carry it out.
What is Repair in Kind (RIN)?
Repair in kind (RIC) is commonly used in the insurance world for claims involving homes or material goods.
The insurer covers the cost of repair or replacement, allowing the policyholder to get his or her property back without having to pay out any money or carry out the repairs themselves.
For example, after water damage, a fire or a burglary, the insurer can take care of the necessary repairs, cleaning and restoration of the property.
Repair in kind consists of restoring a pre-loss situation by repairing or replacing damaged property, rather than financially compensating the victim. The aim is to enable the beneficiary to return to his or her initial situation while minimising the cost to the insurer.
A simple explanation: imagine you’ve accidentally broken your neighbour’s window while playing football. Instead of giving him money to repair the window himself, you decide to repair it yourself or to call in a professional to do the repairs. In this case, a repair in kind has been made.
RIK in the insurance industry
In the insurance context, repair in kind is often used for claims involving vehicles, homes or material goods. In this case, the insurer covers the cost of repair or replacement, enabling the person affected to get their property back in good condition without having to pay for the repairs themselves.
Repair in kind has a number of advantages, not least for the insurer, which offers a comprehensive service rather than simply paying, and can minimise costs by negotiating with service providers, and for the policyholder, who benefits from rapid and effective care to restore their property to its original condition.
A concrete example of the application of repair in kind. As far as home insurance is concerned, repairs in kind can be implemented following water damage, fire or burglary. In this case, the insurer takes care of repairing or replacing damaged parts of the house, such as plumbing, electricity or locksmithing. It can also take care of cleaning and restoring the property.
The importance of calling on a sector professional
Using a professional to carry out repairs in kind offers a number of advantages: technical expertise, accurate assessment of the damage, negotiation with service providers to obtain advantageous rates, rigorous monitoring of the work and a satisfaction guarantee. The professional also provides support and assistance to the insured throughout the process, helping them to understand the procedures, choose the service providers and resolve any difficulties.
What’s more, the insurance professional has invaluable experience in negotiating with a variety of tradespeople. Thanks to these skills, they can obtain advantageous rates for repairs, thereby reducing costs for the insurer and the beneficiary, as well as preferential deadlines, without having to advance any funds. Work supervision and quality control are also major assets of a professional in this field. They ensure that repairs are carried out in accordance with current standards and that the beneficiary returns to his or her original situation. The assistance and support offered by an insurance professional are also crucial aspects of in-kind repairs. This support enables the beneficiary to better understand the steps to be taken, to choose the right service providers and to resolve any difficulties encountered during repairs.
The Stelliant group, through its teams in the Repairs, Works and After-Casualty Solutions division, is an example of such a professional facilitating the management of claims. Thanks to videocoding and flexible working hours, Stelliant offers a service tailored to customers’ needs. At the same time, the Group emphasises its commitment to eco-responsibility by recycling waste and reusing materials. Thanks to its efficient coordination, Stelliant also ensures a reduction in repair times.
Alternative way
Repair in kind is an interesting alternative to financial compensation in the world of insurance. It allows the beneficiary to return to his or her original situation while minimising costs for the insurer.
Calling on a professional in the field is essential to benefit from expertise, rigorous monitoring of the work and support throughout the process. This collaboration also guarantees the beneficiary’s satisfaction and the quality of the repairs carried out.
