When your home is damaged and needs repairs, sometimes it saves you time and money to do it yourself. However, depending on the extent of the damage, you may still file a claim with your homeowner's insurance. If you do, it's best to be up front from the beginning that you intend to make the repairs yourself. You should then follow certain guidelines to ensure prompt payment from your insurance company.
Talk to Your Agent
When you file your claim, talk with your agent about making the repairs yourself. Before you even make the claim, it is best to know whether the insurance company has a policy about this. If your insurance company will not allow you to make the repairs yourself, don't file the claim and then go ahead and make repairs yourself. If your insurance company finds out that you did, your policy could be dropped.
Keep Comparison Estimates
If you decide to make repairs after the insurance company pays you because you found that you could do it cheaper than a professional, keep your documentation. For example, if the repairs could not be made by a professional within the confines of what the insurance would pay, keep copies of these quotes to back up that information. This provides you with documentation if the insurance company questions you about the repairs.
Save Receipts
If you did the work yourself because it was cheaper, keep your receipts for the materials. Put them in the file with the professional quotes from other contractors to provide proof that it was in fact cheaper for you to do the work. You should also keep an accounting of your hours, since that labor should be included in the cost to make the repair.
Considerations
In addition to talking to your homeowners insurance agent, read through your policy paperwork. It is important to cover yourself in this instance, because once you've been dropped by your homeowners insurance, it may be hard to find another company to cover you.
Tags: insurance company, make repairs, repairs yourself, make repairs yourself, your insurance, your insurance company
