Insurance Claims: Know How It Works
If you’re reading this, chances are you might not have experienced the arduous process of undergoing a property damage claim. This can unfold in the wake of a hurricane, flood, fire, or any type of damage to your home. But the damage is just Phase 1.
These claims come in all shapes and sizes, but they generally follow a streamlined format:
- Filing the claim is the first step toward the journey. After the damage, you will contact your insurance agent and they will be assigned to your case with a claims number.
- The Insurer will now take a deep dive evaluation of your claim by sending a licensed public adjuster into the damaged property to inspect it. This may not be necessary if you have ample photos and videos to document the damage. Especially today, when you will want to avoid someone entering your safe space or COVID-free pod.
- After the data has been gathered, the insurer will deny or approve your claim. If you are approved, you may get a nice check to compensate you for the damage. Another option is that the insurer may pay a contractor to fix what’s been broken.
- After the repairs have been tended to or you’ve received compensation, the claim and the case is closed
During an inspection, it’s important to understand the three different types. You may have an inspection from a contractor, an insurance adjuster or a public adjuster.
With a contractor, you may have the option for a no-obligation damage estimate. For example, they may give you a quote on how much it will cost them to fix a leak, before going through the time consuming process of filing a claim to begin with.
Insurance adjusters work for the insurance company and they are there to inspect whether your damage is covered by the insurance policy.
A public adjuster is similar to an insurance adjuster, however, they don’t work for the insurance company, they work for you and are there to represent your interests instead of that of the insurance company.
Knowing these nuances, differences and step by step processes, will help you better prepare for the insurance storm after the storm.