Owning a home requires a lot of attention and periodic maintenance
to keep everything in proper working order. Even if you are on top of all that
needs to be done to keep your house in good shape like changing your AC
filters, painting, sealing your deck, etc., there will inevitably be something
that goes wrong. Anything from a severe weather storm to a burglar can cause
damage to your home or the possessions within, leaving you with the need to
contact your homeowner’s insurance company to file a claim. Here are a few
things that you should keep in mind when filing a claim to help things run
smoothly and ensure the best possible outcome.
File You Claim ASAP
By waiting around to file a claim after property is damaged
or stolen, you are risking having your claim being denied by adjuster. Most
insurance companies have a window of around 14 days to file a claim after
damage occurs. Also, if you’re dealing with an issue such as a water leak, more
damage could be caused by not being proactive such as mold or damage to wood
from moisture. As soon as you notice damaged or stolen property, call your
agent and discuss your best course of action.
Take Pictures
As soon as you notice that your property has been damaged,
get out your phone and start taking pictures immediately. In most cases, the
insurance company will send out an adjuster to take pictures, but it is a good
idea to take some immediately, just in case. You never know when an adjuster
will try to minimize the extent that your property is damaged to avoid paying
out on a claim or reducing the claim payout. Also, these pictures can help you
get proper estimates on repairs so you can decide if a claim is worth making or
if you would be better off paying out of pocket instead.
Is It Worth It?
It is a good idea to get some estimates before filing a
claim if the damage to your home does not look significant. Filing claims on
your policy causes your premium to go up, and some insurance companies will
even drop your coverage if you file what they consider to be an excessive amount
of claims (in my case, I have three claims in the past three years and I am
having trouble finding new coverage!). If you can afford to pay out of pocket
for a repair that will not break the bank, go ahead and do it. While it is
still always a good idea to discuss things with your insurance agent, repairs
that cost just over the amount of your deductible are almost never worth
filing.
Protect Yourself From
Having to Make Claims
A lot of property damage is preventable. Trimming branches
that hang over you or your neighbor’s house, installing smoke detectors, and
putting in a security system are just a few of the things that can help protect
your from being in a situation where you might have to make a claim on your
policy.
Look Out For Yourself
During the claims process, you need to pay attention to
everything that is going on. Make sure you look over all of the paperwork. Don’t
let the extent of the damage or amount you’re being paid for it be minimized by
the insurance company or claims adjuster. Often times, the insurance company
will try to offer you a settlement or agreement that will let them get out of
paying for the full claim. Don’t let them do that. Also, when reporting your
claim, don’t add in what you think happened or what you think should be done
about it- only report the FACTS of the situation. Mentioning that you think
that there might be mold or some other thing going on with your property is
always a bad idea. Also, never lie or be dishonest about what is going on- it
will immediately have your claim denied and could land you in jail!
If you feel like you are being mistreated by your insurance
company, don’t hesitate to let them know- but do so in a civil manner. Never
except a check from your insurance company unless you are sure that it will
cover the full extent of your damages. As a side note, some people would advise
hiring a lawyer during this process. If there is a lot of money involved and
you have a bad feeling about the way your claim is being handled, it might be
worth doing so. Patience is a virtue, and it also happens to be something that
you’ll need a lot of when dealing with an insurance company during your claims
process. If you run out of patience, you could end up accepting an offer that
won’t cover your repairs!
