A Helpful Guide to Insurance Claims
If you’re lucky, you’ll live a long, adventurous life totally devoid of insurance claims. However, when mother nature or man-made disaster strikes, you should be prepared to handle the process or open yourself to professionals who will guide you through its tedious steps. The truth of the fact is, that most homeowners haven’t actually read the fine print of their insurance policy. Who could understand it anyways?
Here are some helpful steps that will shepherd you in the right direction.
– Usher in the adjuster:
The first step is hiring a licensed public adjuster to assess the situation. The insurance company will send a claims adjuster to your property to begin evaluating the damage. According to an analysis of Citizens Property Insurance Corporations, claimants who took advantage of a public adjuster, though the process took longer, yielded much higher payments. This adjuster will figure out how much compensation you will receive and whether or not you will be covered by your current policy, along with determining how much the damage will cost to restore. This person will be representing you, not the insurance company.
– Become a documentarian:
Right off the bat, grab a camera. Whether it be your DSLR or your camera phone – film and photograph the details of the damage, because this very damage may be denied or underpaid without this physical evidence. For example, if this is a claim for hailstorm damage, photograph the leftover hail so that the insurance company can get a sense of the hail ball size that plummeted into your property.
2) Clear and secure the area:
Before you or anyone enters your damaged zone, you must ensure that the area is safe and secure. As the insured, it’s your duty to minimize damage and this includes, not putting anybody or yourself in imminent danger. Wait for the dust to settle and then call emergency services, like the fire department, to make sure the area is safe for inspection. Don’t try to make repairs just yet. Instead, fix anything that might be a fatal hazard for you and your inspection team.
– Begin your claim:
It all starts when you file a claim, whether it be online or over the phone, or even on an app. When filing a claim, make sure that everything detailed within it is absolutely true and not just an assumption. If you provide misinformation, it can potentially harm your overall claim. Depending on how dire the situation, your insurance company might provide emergency funds. For example, if your home burned down in a fire, they might pay for a hotel room to get settled into.
– The paperwork begins:
It’s not an insurance claim without stacks of paperwork. The stacks might include proof of loss forms among many other documents. Treat it like the homework assignment that will determine you passing the class and provide accurate information.
– The final offer:
After the adjuster has analyzed your claim, the insurance company will either present a settlement offer or deny your claim all together. Depending on the outcome, you have the option to negotiate and dispute. This is your right as a homeowner and policyholder.