Are you confused or unaware of the property damage claim process? Well, you don’t have to be, and we’re going to help you with that.
In premise, the claim process consists of two parts: things not to do, and things you should do. And that’s important because one without the other is pointless.
In this article, we will cover the process behind a property damage claim so that you can rest assured everything is done correctly.
So keep reading to learn more.
Table of Contents
- What Not to Do If Property Damage Occurs
- Repair Anything Before Insurance Approval
- Throw Away Things
- Assume You Have to Use the Insurance Providers Experts
- What to Do In the Property Damage Claim Process
- Reasons to Hire A Public Adjuster
- Claims Done Right
What Not to Do If Property Damage Occurs
As mentioned earlier, the process consists of things to do and not to do. We will start with the latter. So here’s what you definitely shouldn’t do.
Repair Anything Before Insurance Approval
Your insurance company and you should communicate and compile a list of necessary repairs, and the cost associated with such repairs. This should be done before making changes to your home.
All agreements and discussions should be documented in written form, as verbal “agreements” are easily broken and hardly supported.
Throw Away Things
You should never under any circumstance, throw away the damaged items, personal belongings, receipts, or anything that has been affected by the property damage. Do not dispose of any property until it has been evaluated and properly documented.
Assume You Have to Use the Insurance Providers Experts
Whether it is the insurance providers adjuster, the contracting company, by their recommendation, it doesn’t matter. You have the full right to hire your own specialists, such as adjusters, engineers, contractors. And it’s most likely in your best interest to do so.
What to Do In the Property Damage Claim Process
And now on to the next part of what you should do—starting with notifying the insurance company as soon as possible, moving onto securing the premises. And finally, hiring a public adjuster for your evaluation.
Notify Insurance Provider
Your insurance policy requires you to report any property damage that occurs, and make a claim with them as soon as possible. Failure to follow this fine-print within the stated time limit on the contract can result in the denial of your claim.
It’s important to note that even if you have to evacuate the property, you still have to make enough effort to contact the company at the earliest convenience. Depending on the company, this contact can be made online or over the phone.
Once you notify the provider, the claims process actually begins. This is an in-depth, extensive process that requires great attention to minute, and lots of time and preparation on your side. The claims process consists of the initial contact, the evaluation of claim, negotiation, and settlement.
For the first phase, you will need the following:
- Your name
- Policy identifier
- Claim type
- An in-depth description of the damage to property and home
- List of damaged property
Now let’s move on to the next step of securing the property, and protecting it from further damage.
Secure the Property
In order to prevent additional damage to the property, as well as third-parties from getting injured, you need to secure the premises. It is your responsibility as the policyholder to mitigate any additional damage after the initial disaster.
This is very important because if you fail to do so, the damage evaluation could be inconsistent and you might not get coverage for subsequent post-event damages.
Hire A Professional
In the world of public adjustment, common property damage claims are a daily occurrence. After filing your claim, your insurance provider will choose an adjuster to oversee your case.
The policyholder will often assume that it’s in their best interest, but we assure you, that’s further from the truth. The adjuster is hired by the insurance company, thus serving their interest. You have the right to hire your own to help you through the process.
Property damage claims are time-consuming, tedious, and complex, not to mention, hard to substantiate if you’re not knowledgeable about the faculties of the insurance industry, jargon, and policy.
Reasons to Hire A Public Adjuster
When it comes to the reasons for hiring a public insurance adjuster, there are plenty. In events where there is a large or total loss, the public adjuster can help the policyholder receive a greater sum for the repair of the property.
Or in the case that the policyholder feels that the assigned adjuster does not have their best interest at heart, or there are certain disputes present in the assessment that have not been resolved, hiring a public adjuster is the greatest option to acquire favorable claim settlement.
Also, the company’s adjuster just might not be communicating well enough. They might be in total disagreement with the choices made by the company’s adjuster. For instance, they feel the adjustment has not reviewed the claim appropriately.
Most policies are very complex, especially of commercial nature. So the employ of a public insurance adjuster can assist the policyholder in understanding these documents. Not to mention, they will investigate the replacement of structures and cost of repairs, as well as calculate any loss to business expense.
Also, if are policyholder just doesn’t have enough time, an insurance adjuster can help deal with the process. The adjuster will document and complete eth claims, negotiate the settlement, all without the complete involvement of the damaged party.
Claims Done Right
Now that you know how the property damage claim process occurs, you are well on your way to ensure that everything goes smoothly for you. In any case, as long as you don’t do what you shouldn’t, and do what you should—you will get the most optimal results.
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