When you own a home, homeowners insurance can provide you with a great deal of protection from many different types of losses. When something happens to your house, filing a claim can help you get reimbursed for any necessary repairs. During the process of filing a claim, it is important to keep a few things in mind.
Notification
When something happens to your house, it is in your best interest to report the damage to your insurance company immediately. With most insurance companies, you have a certain amount of time that you have to report a claim. If you do not report the claim within that amount time, the insurance company will figure that it was not that important to you. Reporting the claim soon could also help you avoid further damage that is not covered. For example, if you fail to report water damage, the water could spread throughout your entire house and cause much more damage than what you can see on the surface.
If your home is damaged, you should make whatever temporary repairs are needed to protect your home and you from further damage or injury. These should always be covered by your policy.
Documentation
Throughout the process, you need to keep accurate documentation of your claim and what is going on with it. Any time you talk to an adjuster or anyone else with the insurance company, you need to keep a log of your communication. You may have to talk to the insurance company several times before this matter is handled and you want to ensure that you do not experience any mis-communication. Keep all of your documents in a folder so that you can easily refer back to it.
Negotiation
Depending on what type of loss you have, you may be able to negotiate a better settlement with your adjuster. Adjusters like to settle claims as quickly as possible without a lot of hassle. If you are dealing with a smaller claim, the adjuster might try to write you a check after a single visit to the property. With bigger claims, the company might have to bring a professional in to evaluate the damage. If you hold out longer and negotiate, you might get the adjuster to agree to a larger settlement.
Make sure you are present whenever the adjuster is doing the inspections. This way tou can point out anything he overlooks.
Do not agree to your insurance company's final settlement until you are satisfied that settlement is fair. Get a second or third opinion from a local contractor, if necessary.
Be Honest
When you report the claim and anytime that you are talking to the adjuster, it is important for you to be honest. If you embellish the situation or lie about what happened, you could be guilty of insurance fraud. It is critically important that you tell the adjuster exactly what happened even if it was your fault. Your homeowners insurance will typically help you pay for repairs to your house even if you made a mistake. For example, you could file a homeowners claim for spilling paint on your carpet accidentally.
Tags: insurance company, report claim, your house, amount time, filing claim, further damage
