Your home is one of your most valuable assets; when catastrophe strikes, homeowner’s insurance ensures that your home and its contents are protected. Here’s what you can expect when filing an insurance claim after a home disaster.
Evaluate the Damage
Your first step is to determine the extent of the damage to your home. Your insurance company will send an adjuster to your home to examine the damage and calculate the amount of your payout.
You also need to know if it’s safe to remain in your home. After a fire, it might take time for the smoke particles to clear out. Or, if your home experienced structural damage, you may need to stay elsewhere until certain repairs are completed.
See What You Qualify For
The maximum amount that your insurance company will pay depends on your policy and the damage. Some insurance policies pay the replacement cost for your home, allowing you to restore your home to its original value.
However, if your policy uses actual cash value to calculate your payout, this means that the amount you receive will depend on the current worth of your home and possessions.
Make Temporary Repairs
Temporary repairs are frequently needed to prevent your property from incurring further damage. For example, if a portion of your home’s roof is damaged by a storm, temporary repairs will prevent moisture and pests from entering your home while you arrange for permanent repairs.
Save any receipts from these repairs so that you can submit them for reimbursement to your insurance company. This money will usually come from your total settlement amount, so spend with caution.
Should You File a Claim?
It can be tricky knowing when to file an insurance claim and when you should pay for the repairs out of pocket. If the estimated cost of repairing your home is only slightly higher than your home’s deductible, you may be better off paying for the repairs yourself.
Repeat insurance claims in a short time frame can cause your insurance company to increase your rates or decline to renew your policy.
What’s Covered?
Damage caused by vandalism, fire, wind, hail, and lightning is covered by most homeowner’s insurance policies. Your insurance policy may exclude certain types of damage unless you purchase additional coverage for this specific event. Damage caused by flooding or earthquakes usually isn’t covered unless you have an added rider for that type of damage.
Most policies have an allowance for clothing, furniture, and other items that are damaged by the catastrophe. You may also be reimbursed for damaged food and any lodging or incidental costs that you incur while your home is being repaired.
The Claims Process
To start the claims process, call your insurance company to file a claim. Your insurance company will verify that the damage is covered, confirm the amount of your deductible, and provide more info about processing your claim.
An insurance adjuster will visit your home to determine the cost of replacing or repairing your home and belongings. Be prepared to provide receipts for valuable items. Avoid throwing away any damaged items until the adjuster comes.
Work with the Experts at Contractors of Nashville
Contractors of Nashville offers a variety of repair and restoration services. We even offer 24/7 emergency service. Contact us to schedule an appointment.
