YOU ASK:

What is the best way to resolve a property damage claim?

WE ANSWER:

It might look like a daunting task trying to settle a property damage claim with an insurance company. There are, however, some tips that can help you through the whole procedure, make it smooth and easy, and reach a settlement that is favorable for you.

Tips for Settling a Property Damage Claim

  • Be sure to remember your policy terms and conditions! You never know what the future holds so make sure you have an extra copy of your insurance agreement kept at a safe place or outside your house.
  • While purchasing the Home policy, make sure you are adequately protected - one way to ensure that, is by buying coverage that exceeds the total sum of your possessions. You should also review your policy limits from time to time, especially if you have purchased new valuable objects.
  • Try to keep all the receipts from purchasing valuable objects!
  • If you live in a disaster-prone area, consider adding the flood and the earthquake riders to your policy.
  • Notify your insurance provider straight away after property damage has occurred. Prior to that, make sure you have added up the amounts of all losses. File one big claim, not multiple small ones.
  • Try to give as detailed description of the property damage incurred, as possible. The insurer will send a claim adjuster to your home to evaluate all the damages and offer a compensation amount.
  • Do not sign anything that the insurance company representatives might offer you. It is in the insurer's interest to settle a property damage claim for a minimum amount. Make sure you know the exact amount of property damage that you have incurred.
  • Turning to a professional property damage attorney, a contractor or a public adjuster will help you avoid the unpleasant situation of getting less compensation than you need.
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