What You Need to Know When Filing a Homeowners Insurance Claim

As a responsible homeowner, you likely understand the importance of purchasing and maintaining the right homeowners insurance policy. However, when the time comes to file a homeowners insurance claim against your coverage, the process may be complicated or confusing.

With this in mind, you should prepare yourself so that you don’t have to learn about the claims process in the wake of a potential catastrophe.

Key Considerations About Filing a Homeowners Insurance Claim

To maximize the effectiveness of your coverage and ensure you get the help you need, you should be fully prepared for the claims process. Consider the following:

• Weigh the pros and cons of a claim. There may be times when you want to think twice about filing a claim. For example, losses that do not exceed or barely exceed your deductible, or the minimum amount you must pay out of pocket, may not be worth filing a claim over, as they could lead to increased premiums or even cancellation of coverage.

• Understand all details of your policy. The capabilities and limitations of homeowners insurance is typically customizable and can be tailored to your needs, risk tolerance and budget. Before initiating the claims process, be aware of certain exclusions, such as floods and earthquakes, and your coverage limits.

• Document meticulously. You should be diligent in documenting losses and damages. This should typically include photographic and video evidence. Before an incident occurs, you should also maintain an inventory of insured items, including photos and videos of their conditions and any receipts or appraisals to prove their monetary value.

• Make arrangements to be available. Your insurance company may typically dispatch a claims adjuster to review your home and assess any losses and damages. You need to be present during this inspection to ask any questions and clarify any potential confusion.

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This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.