What to do after a loss:
The loss you have recently suffered can be very draining. But if you take the proper steps immediately following your loss, you have the power and ability to reduce the damages and help get the recovery process started.
Note: Every loss situation is completely different from the others. The information stated here is not intended to replace legal, professional insurance or financial advice. Please feel free to contact one of our team members for further assistance.
~ Protect your property from further damages and mitigate you loss.
~ Some contents of your home are priceless and irreplaceable such as pictures, books and important documents, make sure you move quickly to salvage any of these items possible.
~ You should have only one person in the family communicating with the insurance company, this reduces confusions and frustrations.
~ Understand your duties and requirements.
~ Keep a log and be sure to document any and all conversations with the insurance company including names, times and nature of the particular call.
~ Work with the loss investigators but of coarse be sure to control access to your home.
~ Be sure to get to know your agent or broker.
~ You must call your insurance company and make the claim. BE SPECIFIC.
~ Hire YOUR OWN EXPERTS. Take the advice of the insurance agent but remember you do not have to use the company/companies that they suggest.
~ You should check into the historical documents of your building but do not rely solely on them.
~ Be sure that you understand that your claim will have to be verified and investigated. Work with the insurance and the investigators to make that a quick and painless process so the restoration and repairs can begin.
~ Make sure you understand the negotiation process.
~ As stated previously this can be a draining process. Leave the claim details up to the professionals you select to handle the insurance company and repairs. You worry about maintaining your family and your employment.
If this is beginning to sound like a lot of coordinating, work and tracking, that’s because it is. However, we are ready to help you with ANY or ALL of these steps. Our group of professionals can get to your loss site quickly and they have the resources to guide and support you throughout the claims adjustment process.
In order to ensure that your possessions and your home are adequately protected, although some risks are much less obvious than others, you may want to consider the following:
~ As the home owner, it is your responsibility to prove in detail any and all losses. Are you sure that you can provide a detailed and comprehensive claim?
~ With my Policy, what exactly are my rights?
~ My home was built long ago and does not adhere to current building codes, will the additional cost be covered under my policy?
~ I don’t understand what is meant by “actual cash value”, “depreciation” and “replacement cost”. What exactly do these terms mean?
~ Majority of my belongings and ownership documentation was destroyed. How do I determine and account for the value of my lost possessions?
~ I do not understand how to calculate the value of the property damage. What should I do to ensure that the property is repaired and / or replaced properly?
~ My home was completely destroyed. What is it that I should be collecting, replacement cost, the actual cash value (replacement minus depreciation) or market value?
~ In order to correctly negotiate with the insurance companies Claims Adjuster, do I have sufficient knowledge of the claims process?
~ Without adding additional stress or strain on my professional or private life, would I be able to commit enough time and attention that is necessary to settle my claim accurately?