By Pat Howard
PolicyGenius.com
A storm has come through the area, and your home has sustained damage, an insurable loss.
Prior to filing a homeowners insurance claim, look over your policy to see if the damage you’re claiming is covered by your policy. You should also get familiar with certain policy details like your deductible and how your payout is calculated (e.g. replacement cost or actual cash value).
Whether your home was damaged by hurricane winds, flooding, storm surge or all of it, you’ll want to take the following steps before filing a home or flood insurance claim.
Contact your insurance company.
Reach out to your insurer immediately to inform them of the loss and get your claim started. At that point, they’ll likely inform you if the damage is covered, how long you have to file a claim, and any additional next steps to ensure a speedy claim settlement. (Most insurance companies require claims to be submitted within a year of the incident.)
Document the damage.
After the storm has passed and it’s safe to enter the premises, document the damage to your home and belongings with photos and videos before attempting to clean up or make temporary repairs.
It’s usually a good idea, at the start of storm season before anything happens, to take photos, or make a walk-through video, of your home to accurately document the contents.
Fill out claim forms.
After a hurricane, it’s especially important to file your claim in an efficient and timely manner. Keep in mind that insurance companies are likely overloaded with claims after natural disasters, so the sooner you fill out your claim forms, the better.
Document additional living expenses, and those related to temporary repairs.
If you had to flee your home due to extensive structural damage, hold onto hotel and restaurant receipts. Your policy’s loss of use coverage will likely reimburse you for these expenses, but you’ll need to provide proof.
You’ll want to make sure that any openings or damage to the structure of your home won’t result in further damage. If you notice a leak or a hole in the siding of your home, make temporary repairs and hold onto the receipts so that you’re reimbursed.
Prepare for the adjuster.
Expensive hurricane-related claims will likely require a visit from an insurance adjuster, who will assess the damage and confirm details about the claim before reimbursement can proceed. This part of the claims process will likely involve an inspection of the home and an interview with the policyholder.
Once your insurance company accepts your claim and you agree to a settlement amount, you’ll receive a payout and be one step closer to getting your home (and life) back to normal. If you have a mortgage on the home, the insurance company may send out two checks — one to you and one to the lender that is listed on the insurance policy. In the event of damage to the home’s structure, the lender gets equal rights to the insurance check to ensure that necessary repairs are being made to the property that it has an investment in. Your mortgage company will typically put this money into an escrow account and will release the funds for payment as the work is completed.
Pat Howard is a senior editor and licensed home insurance agent at Policygenius, where he specializes in homeowners insurance.
