Getting the most out of your home insurance claims – Essential tips for you

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Majority of the homeowners now have started tallying up the total damage caused by the frozen winter and the insurance claims are sure to increase with the discovery of each damaged or burst or frozen pipe. The challenge for most of the homeowners is to ensure that they’re getting enough compensation that their policies should provide. When there is a disaster, we expect the insurance company to stand by us but unfortunately, too often it is seen that the insurance companies delay, deny and underpay the claims, both commercial claims and personal ones. Underpaying claims happens to be one of the most common issues of the policy holders where they have little knowledge about the nuances of the coverage. So, if you’ve met with some disaster or you’re about to file a claim, here are some ways to make sure you get the most out of it.

  1. Review the coverage watchfully: Don’t wait for an odd situation or an emergency to arise so as to understand and review the coverage of your existing policy. Before you file a claim, review the policy in the light of the damage that may have caused and get a professional to understand what the policy covers. Make sure you review your coverage periodically so that it remains appropriate with your changing needs. Analyze your policy way ahead of time and get to know what they’re paying for.
  2. Take videos and photos of the damage: The ease and availability of digital cameras gives the opportunity to the homeowners to offer the insurer with documentation regarding the condition of the house before the damage and after the damage. It is reasonable enough to take snaps of the interior and exterior of your home. However, you won’t be able to claim for normal wear and tear that already existed.
  3. Keep a document of the damage: Apart from making a video to show damages, homeowners can even hire their own claim adjusters who will take actions independently from the one that the insurance company has provided you with. Keep a track; get the duplicate copies all receipts and estimates.
  4. Opt for some temporary repairs: Don’t always wait for the insurance adjuster to make the temporary repairs. Leaked roofs and broken windows should be immediately fixed so that the insurance company doesn’t deny any claim on the ground that you’ve waited for too long to do so. Hence, save all documentation and receipts as the insurer will most likely reimburse them.
  5. Brace yourself for a fight: This might not sound good but yes, majority of the policyholders are fighting with their insurance companies. You too might have to go through the same situation. So, you should be prepared with all documents so that you emerge a winner.

Irrespective of whether they are commercial claims or individual claims, you always have to take into account the above mentioned tips to get the most out of your claims in times of emergencies.

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