Filing an insurance claim is a multifaceted situation that can be just as daunting as it is helpful, depending upon how prepared you are for the process. Educate yourself on the steps you need to take before filing to make sure you do it all right and keep the red tape to a minimum; after all, the last thing you want is for the claim to be rejected because you forgot to send in a form or because you missed an important step.
- Maintain an Inventory of Your Household Items – It may seem like a tedious task, but if you keep a list of what you own and what it’s worth, it will make it that much easier to file your claim. You’ll know what was stolen or damaged, and what it is worth without leaving out anything important or particularly valuable. This is especially important for the bigger ticket items such as furniture and electronics. Be sure to keep the list up to date, too. You’ll only ever really need to change it when you purchase something new, or get rid of something from your home.
- Understand Your Coverage – The key to filing a claim is understanding what your coverage is in the first place. If you’re not covered for flood damage and your basement gets a few inches of rain water that ruins some things you were storing, your insurance company will probably not be able to help you out. Don’t waste your time by trying to get money you’re not entitled to receive. Know your coverage.
- Document Damages Right Away – The sooner you document the damages, the better your insurance company will be able to help you. Also, the sooner you document this, the more accurate your details will be.
- Contact Insurance Carriers Immediately – Obviously, before filing a claim, you’ll want to contact your insurance company. They will need as many specific details as possible, so be prepared to answer a laundry list of questions. Be patient with your insurance company. You may not want to answer an extended list of questions during such a stressful time, but they are just doing their job and you're not going to get that payout until all of their requirements are met.
- Don't Shy Away from Negotiations – Consider negotiations as a way of getting what you need that may not have been clear in your coverage. It's also a wise idea to remember that part of negotiating is realizing you’re not going to get everything you want out of it.
- File a Police Report – Get your hands on the police report as quickly as possible. Your insurance company will need a copy before they are able to do much in terms of payment. This is basically your golden ticket, so get a hold of it and grab on tight. Keep a copy for your records as well. You might be able to get the police department to send the insurance company a copy directly. Ask this right away for one less thing to worry about.
- Understand That There is a Time Limit – Realize that there are time limits when it comes to filing a claim. You can’t take a year or two to file and expect to have results. Call your insurance company to see what timelines you should be following throughout the filing process.
- Photograph the Damage – You’ll want to photograph or video tape the damage immediately. Your insurance company will almost always want or even need this kind of documentation for their records. Make copies for yourself to keep in your personal records as well.
- Keep Records of Additional Expenses – Keep accurate records of additional expenses you incur after the incident. If you need to stay at a hotel with your family for a few days or even weeks, keep the receipts from that and your insurance company should reimburse you for the expense. Use your better judgment when it comes to what should and should not be saved for reimbursement purposes, or give your insurance company a call beforehand to see what is and is not reimbursable so you don’t waste your time.
- Understand That an Adjuster Will Come – Realize that the insurance claims adjuster or agent will come to your home to see what damage has been done. They will interview you and other family members, as well as speak with the police or hospital staff involved in your case.
Make a bad situation a little bit better by knowing what you should before filing your first home owners insurance claim. If you follow the rules, ask the right questions and get things taken care of in a timely manner, there’s no reason your claim shouldn’t go through smoothly, getting you the money you need.
Resources:
http://www.huffingtonpost.com/2012/10/31/how-to-file-a-home-insurance-cl...
http://www.homeownersinsuranceguide.flash.org/fileclaim.htm
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