Filing a Home Insurance Claim
What You Should Know Before Filing a Home Insurance Claim
Unfortunately, disasters don’t occur on a schedule. Any time they strike is the worst possible time, and in their wake, homeowners can be left reeling, unsure of what the next steps are — even if they have a home insurance policy. Though disasters are shocking when they happen, you can prepare for them — follow these steps before and after your home has been damaged and ensure a smooth path back to normalcy.
Prepare for the Worst-Case Scenario
Before a disaster can even strike, review your home insurance policy. The National Association of Insurance Commissioners (NAIC) recommends contacting your agent at least once a year to examine your coverage for any potential gaps. For example, does your policy cover water damage? If not, should you invest in a flood insurance policy? Will a personal umbrella policy extend as far as you need it to?
During this time, you should also carefully inventory your valuables — such as jewelry, musical instruments, electronics, and antiques — and ensure they’re protected by your policy. As you acquire new items, contact your agent to update the inventory and keep receipts of new purchases; the same goes for new repairs or renovations to your home.
Homeowners should also be aware of how much their deductible is before filing a claim. Take this example from the finance experts at Experian: If a homeowner has $1,500 worth of damages and a $1,000 deductible, the carrier will only pay $500, leaving the homeowner to cover most of the expenses out of pocket. Conversely, if a homeowner files a $20,000 claim with a deductible of $5,000, insurance will pay $15,000. Knowing how much you’re responsible for can help you make a more informed decision whether to file a claim or simply pay for the damage yourself.
In the Aftermath
So, what should you do if the worst comes to pass? First, if the damage has been caused by a natural disaster such as a storm or an earthquake, ensure it’s safe to leave the house, then assess what parts of your home have been damaged and make a detailed list. This includes the exterior of your house as well as belongings inside. This list will be a vital resource as you work with your claims adjuster. Document the damage by taking photos — possibly from multiple angles — and videos.
If your home has been damaged as a result of a crime, contact the police and keep a copy of their report for your insurance carrier. Then, contact your insurance carrier and give them as many details as possible. Tell them what happened, when it happened, and describe the severity of the damage in as much detail as you can. Give your carrier a clear understanding of what has happened so they can document the damage before a claims adjuster can review it.
Don’t be caught off guard by a disaster — your Valentine Insurance agent is here to help. Contact us today or call (847) 741-0083 for more information.