5 Important Considerations Before You File a Property Damage Insurance Claim

 

If you recently experienced property damage to your home or business, you may be tempted to immediately contact your property damage insurance company and file a claim. However, it’s important to consider the following five considerations before you do so.

1) Make sure you have an insurance policy

Before you file a property damage insurance claim, make sure you have an insurance policy that will cover the damages. Not all policies are created equal, so be sure to do your research before getting one. Check with your current insurer or speak with an agent to see what they offer and how it works. Make sure you know what kind of coverage is required: Every homeowner’s insurance policy comes with different levels of coverage and options for deductibles, meaning it is crucial to know what level of coverage you need before filing a property damage claim. In addition, the type of deductible may determine how much out-of-pocket expense is required by the insured when filing a claim.

What is an insurance policy?

An insurance policy is an agreement between the insurer and the insured, typically in which the insurer agrees to pay all or part of the cost of certain losses. There are many types of coverage available, including home insurance, car insurance, life insurance, and health insurance. When it comes to filing an insurance claim for property damage caused by fire or water damage, there are some important considerations you should make before doing so. 

1.  Is your property covered by both your homeowners’ and personal liability policies? 
2.  Do you have enough insurance coverage? 
3.  Have you read your policy's exclusions and limits of liability? 
4.  What kind of adjuster will come out to inspect the damage (usually this will be an independent adjuster)?

2) See if the damage qualifies for coverage

To be covered under property insurance, you must have taken the necessary steps to keep your property safe. Here are five important considerations before filing an insurance claim:

•  Make sure all buildings codes and ordinances are followed
•  Get repairs done with a reputable contractor 
•  Make sure you have comprehensive liability coverage that's at least equal to the value of your home 
•  Update any flood insurance policies 
•  Get roof damage, public adjuster

3) Check your deductible

It's important to find out your deductible before you make any claims with your insurance company. Your deductible is the amount of money that you need to pay out of pocket before the insurance company will start paying for anything on your property. For example, if you have a $500 deductible, and your car has been damaged in an accident, you'll need to pay $500 before the insurance company will begin paying for repairs.

Why it is important to Check your deductible?

Before you file your property damage insurance claim, there are some important considerations to keep in mind. A roof damage public adjuster can help make sure that you don't overlook something. For example, your deductible could be the difference between getting reimbursed for all of your losses or having to pay out of pocket. Check with Select Adjusters to see what the deductible is on your policy before filing a claim.

4) Know what's excluded from your policy

Excluded from coverage are damages that arise out of war, nuclear hazards, vandalism, malicious mischief, and riot. In addition to these exclusions, you should know that many adjusters only offer liability insurance - not property insurance. So before you file a claim with them, make sure you understand what is covered by your policy and what is not.

5) Contact your agent as soon as possible

If you're not sure whether or not your property has been damaged, contact your agent as soon as possible. They will be able to tell you whether or not the incident is covered by your policy and if it's an emergency, they can assist with filing the claim. If there was an emergency and you called right away but didn't have time to file the claim before the adjuster left for the day, contact them first thing in the morning so they can come out and inspect your damage.

Advantages of Contact your agent

Contacting your agent as soon as possible is important because they can help you to find out the extent of the damage if you're covered, and what to do next. They may also be able to negotiate with the adjuster to get you the best settlement or provide tips on how to handle other aspects of your claim. 

•  The sooner you contact your agent, the sooner they can start working on your claim.  
•  It's important to have an accurate assessment of the damages to know whether or not you are covered by insurance. 
•  Working together with your insurance company will allow for a quicker and more efficient processing time for claims, resulting in less hassle for both parties involved. 
•  If necessary, your agent can offer advice on how to deal with any other aspects that might arise from filing an insurance claim such as alternative accommodations after fire damage or getting estimates for repairs following water damage.