It is a strenuous thing to deal with property damage, but having insurances coverage can definitely make things a little easier for you. The cost of repairing and restoration of the damage of your property is usually covered by the insurance; even so, you should know about insurance claim and also how to file a claim to cover this kind of costs.
The most usual type of claim that is filed is insurance for a water damage claim. This is with taking into account the commonality of the water damage.
Homes, buildings and other infrastructures can be damaged by water from natural sources such as floods or from non-natural sources such as the malfunction of appliances. Irrespective of what is the cause of the damage, you must inform your insurance provider and be prepared with your policy number if your property has water damage.
To ensure that your insurance policy covers water damage claim and to find out exactly what it covers, you need to examine it. Accidental water damage from HVAC system, flooding, mold remediation, living expenses, water-damaged items restoration and drain or sewage backups are the things to consider in checking your coverage for. You may request for additional coverage if you think that not all of the aforementioned is included in your plan.
Here is a list of how you can claim with your insurance provider in case of water damage to your property:
List down damaged properties
Unless you make a precise inventory of what has been completely destroyed, then your damaged properties can be fully refunded. You may provide details such as making and modeling of each damaged item, age, cash value, cost of replacement and even the condition. However, you must put in mind that the cost of replacement differs from the market value. Taking pictures of the damage properties can also be done as further evidence.
Do not throw anything
In making claims to your insurance company, you must procure evidence, so that the damaged property must be easily accessible for investigation. If there is no written declaration that the insurance company enables you to do so, do not dispose or throw anything away. You may not get coverage for such items if you throw away things.
Do not do repairs without insurance approval
It is not advisable to do any reconstruction that takes place before the approval of your insurer; it might not be covered anymore. However, you can perform the necessary repairs to protect your home from further damage. For such temporary work, you only need receipts and proof.
Choose the best suppliers
The company will be the one to give advice to work with their specific services, contractors and vendors for property restoration when you call your insurance regarding the damage.
Insurance claim for water damage
The next thing to do is to write a notice for your insurance company for the official insurance settlement after the evaluating coverage, creating an inventory list of damaged content and gathering detailed evidence.
The process of claims
Within a couple of days, your insurance provider should call you. The insurance company will give an explanation on how to process your claims and to let you clearly understand the actions for which you are responsible. Your insurance provider has only fifteen working days to accept or reject your insurance claim. If accepted, they will settle the claim for not more than five working days and you will be able to secure your money. And if your claim was rejected, then it is necessary for them to provide a written explanation.
Work with the adjuster
For inspection of the damage suffered, an adjuster will be sent to your house. It may be full-time employed by your insurance company, a public adjuster who works for you or an independent contractor who is connected with different insurance providers.
A public adjuster is the one who takes good care of
the claims with their entirely, is the reason why they are capable of ensuring the best chance for success with insurance claims. Being a licensed professional is an important thing concerning the adjuster.
If your policy covers the damage and this notice will include an estimate of the amount of repairing the damage, the insurer is the one who will notify you through a written notice.
You will be paid for those with a cost policy of replacement to perform the renovations on your home. The amount of payment will be based on costs. However, the check amount will be based on the estimated cost with the deductible costs and the subtracted depreciation. Moreover, you need to be mindful that such repairs will have to be carried out within a certain period of time.
You will be paid for actual cost of the renovation except for depreciation with the actual cash value coverage. Commonly this amount is not enough for a comprehensive restoration or renovation, but by acquiring an endorsement you may be able to raise your coverage.
It is very important to remember that your insurance policy only includes the material with the same quality as that which has been damaged. If you desire some material upgrades, you should cover these costs.
Issues with molds
Regular policies do not normally address mold remediation except if repairs are required. Policies often have limited mold coverage, and you can purchase more coverage to also include mold.
In response to water damage, mold can develop and spread rapidly, making it relevant to instantly address any water damage. You have to remove the water and to reduce the amount of damage incurred, and your property and any other affected materials must be dried as quickly and efficiently as possible.