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Insurance Claims FAQs
provides consumers with
tips on how to file an
insurance claim. The
process for submitting a
claim on your home or
auto policy is pretty
straightforward.
The first step in filing
a claim is to contact
your insurance agent who
will need detailed
information for
initiating the claim
form. This is usually
done over the phone. The
insurance company will
then send out an
adjuster to investigate
the damage. You must
wait for the adjuster to
complete the assessment
and assess the damage
before you begin making
repairs.
If you have experienced
a catastrophe, or are in
an emergency situation,
your insurance company
will make available to
you, a restoration
company to secure the
property damage, prior
to the adjuster
conducting the
assessment.
Once these property
insurance claim steps
are complete, you will
be informed of the
monetary value for the
necessary repairs. Each
state has its own
requirements for
responding to claims and
each insurance company
follows their own
guidelines and timelines
for filing insurance
claims. Some agents and
adjusters will provide a
list of approved
contractors to repair
the damage; others will
allow the person filing
the claim to choose
their own contractors.
An insurance company may
provide the claim check
directly to the property
owner filing the claim,
while others will pay
the contractors
directly.
Check with your local
agent of insurance
company provider for
complete details on how
they handle claims
payments.
It is important to note
that filing too many
claims with your
insurance company may
result in the loss of
coverage.
What is a Deductible?
An Insurance Deductible
is simply the amount of
money that the insured
is required to pay, for
repair to damage, under
the insurance policy.
The insured chooses the
deductible at the time
of purchasing the
insurance coverage. For
the most part, the lower
the deductible, the
higher the insurance
premium.
Do I have to use my
Insurance Company's
Adjuster?
Your insurance company
will usually schedule an
adjuster to inspect and
assess the damage upon
filing a claim. If you
do not agree with the
adjusters’ assessment
and the value of your
loss, you may hire a
public adjuster to
conduct a separate
assessment to submit to
your insurance company.
The insurance company
will review both
assessments and
negotiate, with you, a
fair settlement.
How do I know if I
really need to file a
claim?
If you have experienced
a loss and believe your
insurance will cover the
loss, it is in your best
interest to call your
insurance agent and
review the situation.
The agent will assist
you with making an
informed decision as to
whether filing a
property insurance claim
is in your best interest
or whether there may be
repercussions for filing
the claim. Do not wait;
call your agent as soon
as possible after the
loss.
How do I find someone
Qualified to repair my
damages?
Some insurance companies
will provide you with a
list of qualified
contractors, restoration
or cleaning services, or
auto repair contractors
to contact and bid on
the repair for your
damage. The insurance
company will usually
back up the work
provided if they make
the referral. If your
insurance company does
not provide you with a
vendor list, it is up to
you to find a company
that is qualified and
experienced with dealing
with the parameters of a
property insurance
claim.
How long will it take to
settle my claim?
The length of time it
takes to settle a claim
differs depending on the
insurance company and
the extent of the loss.
Be sure to maintain
contact with your
insurance agent to check
the status of your
claim. Many insurance
companies have a system
in place allowing for
the capability of the
insured to monitor their
claim process online.
Will my claim be
covered?
Insurance claim coverage
varies from policy to
policy. It is important
for the insured to be
completely clear about
what is covered within
their policy, in the
event that the insured
is filing a claim.
Determine if you may
need catastrophe
coverage; coverage for
additional living
expenses in the event
you must relocate, flood
coverage, liability
coverage, personal
property coverage or
real property coverage.
What are some safety and
preparedness tips?
Most Insurance Companies
recommend that the
insured maintain an
inventory list. This can
be as simple as a list
of your personal
property or a more
comprehensive record,
including copies of
receipts and/or video or
photographs of your
property. The inventory
list should be kept in a
safe place (either a
fireproof lox box or at
a separate location from
the property). No one
wants to experience a
loss of any kind, yet
being prepared will ease
your frustrations in the
event that a loss occurs
and you find yourself
filing a claim.
What is a Public
Adjuster?
A public loss adjuster
will investigate and
examine insurance
claims, assess cost and
value of the loss, and
submit a claim to your
insurance company. A
public adjuster works
for the property owner,
while a private adjuster
works for the insurance
company. Either way,
their responsibility is
to provide the best
resolution to the
property owners’ loss
and negotiate payment
for the repair,
renovation or
restoration.
A homeowner may choose
to hire a certified
public adjuster if they
feel the adjuster
working for their
insurance company is not
providing them with
adequate compensation
for their loss. In such
a case, the public loss
adjuster will conduct
their own investigation
of the claim and submit
a separate claim for the
purpose of negotiating a
fair settlement through
the insurance company.
There are specific forms
and files which are used
by the public claims
adjusters which are
required by the
insurance company.
What is a Restoration
Contractor?
Insurance Restoration
Companies help remediate
and restore damage that
occurs to your property.
You may not know when an
accident is going to
happen or the extent of
the damage to your
property. What you will
need is an expert
restoration company who
will immediately respond
to your emergency
situation.
If you need fire and
water damage cleanup,
including hardwood floor
water damage, laminate
floor water damage,
drywall repair water
damage, roof water
damage, you will need
water restoration
contractors. If you have
suffered roof hail
damage, have wind
claims, mold insurance
claims or need help
cleaning smoke damage,
insurance restoration
companies are the
experts in repairing
your property damage and
fully understand the
insurance claim process.
What is the role of a
General Contractor?
General Contractor
services are needed to
repair damage caused to
your home upon filing an
insurance claim. Once an
insurance adjuster
outlines the cost for
repairing the damage, it
is the responsibility of
the homeowner to hire a
license general
contractor who will work
within the limits of the
insurance quote. When
conducting a search for
general contractors, it
is important that your
building contractors are
familiar with the
insurance claim
procedure. There is an
abundance of detail
involved in the process
of filing property
insurance claims, of
which the property owner
is often unaware.
Therefore, find
construction company
professionals with the
expertise in insurance
claim renovations. |
