April 08, 2006
The Process Of Making A Claim
Homeowners insurance is in the news now regularly thanks to hurricanes and storms coming one after the other. So what do you do when you have to make a claim? The claim could be theft or damage to property.
If there was a theft in your house the first thing would be to report it to the police, lodge a report and make a note of the names of the officers that you spoke to.
Photographing or taking a video of the damage is a good idea and taking stock of whatever is left or damaged by making a list is a must. Make copies of the list for the insurance company and for yourself. It is ideal if you have the insurance personnel see all the damage so don’t throw out anything till it is seen.
Call up your agent and ask the following questions:
1. Are you covered?
2. What is the time limit on filing claims?
3. How long to process claim?
4. Should you need to produce estimate for repairs?
5. Will the claim be more than your deductible?
After all this is done make temporary repairs to prevent further damage. Remember to keep the receipts of all such repairs as they can be submitted to the insurance company for reimbursements.
Homeowners’ insurance policy also covers other expenses like “loss of use” of your home. So, if you move to out to make repairs you can claim the expenses of for your temporary accommodation showing receipts.
The insurance company should send you the claim forms within a specified period, which can change from state to state.
Send the filled claim form and then the adjuster comes for an inspection. Once this is done you can come to an agreement and according to state law you should given payment immediately. Remember to contact your state department of insurance for any further queries.
--
Did you enjoy this post?
