Property Damage Insurance Claims Process
Having your home or business damaged due to water, fire, a storm, or lightning can prove to be devastating. Depending on the severity of the damage, these types of natural disasters and accidents can amount to a lot of money on repairs, replacements, and cleaning. Most of the time these things happen out of the blue and homeowners and business owners had no way of preparing themselves. Fortunately, if you have homeowners or commercial insurance, you can file a property damage claim. A property damage claim is something you can file with your insurance provider so that you can get the coverage you need to pay for damages done to your property. While this might seem straightforward, insurance claims processes can actually be complicated if you aren’t familiar with the process. To get a better sense of what to expect, below are some helpful answers to frequently asked questions asked about property damage claims.
What Is the Claims Process?
Before explaining what the claims process is, it’s important to know what an insurance claim is. An insurance claim is when a policyholder asks their insurance company to cover the cost of property damages. Once an insurance company receives a property damage claim, they review it and decide if it meets your coverage policy requirements, which is considered the claims process. To make sure that the damage to your house or business is covered by your insurance, they will need to inspect the damages. It’s also important that you give your insurance company as much details and information, as this will make it easier for them and make it more likely to get the coverage that you want. Usually, the claims process timeline involves a review of the claim, inspection of damages, adjustments to your property damage claim, and then from there they can either approve or deny your claim.
What Happens When You File an Insurance Claim?
While the very first thing you should do is call your insurance company, it is important that you gather the necessary inventory needed. What this means is that you will need to provide evidence of the damages that affected your home or business. The reason that this is important is that you will want proof certain damages affected your property. The more proof and evidence the easier it will be to have your claim accepted by your insurance company. Here are the things that you should do to prepare to speak with your insurance provider.
Document Damage: If you have a camera or video camera, you can use these to document the loss from water, fire, storm, or other catastrophes that have damaged your home or business. This will be extremely helpful when you are filing your property damage claim.
Compile Details: If you have receipts, bank statements, tax returns, or appraisals for things that are damaged, its get to get all of them together and ready. This will be especially helpful if you are dealing with theft and vandalism.
Make a List: Everything that has been damaged in your property, you will want to make a list of. No matter how insignificant you think it might be, write down anyway.
Avoid Repairs: This might seem like a bad idea, and shouldn’t be done if you have water or smoke damage, but avoiding get permanent repairs is essential as it can prevent you from getting the claim you need. However, if repairs are really needed, keep your receipts and give them to your insurance company.
What Happens When a Claim Is Denied?
When we have damage to our homes and businesses, we believe that our insurance company will be there to support us. Unfortunately, your insurance company can deny your claim. This can be quite shocking and very stressful to policyholders, but it happens more often than you’d think. There are a couple of reasons why your insurance company denied your claim
They believe that the damage to your home or business was pre-existing and not caused by the fire, flood, storm, or another catastrophe that occurred.
Your insurance company doesn’t cover the type of damages that affected your home or your business.
If these damages happened and you didn’t pay your insurance premiums during that time, they can say that you didn’t have the coverage needed to cover the damages.
You didn’t contact your insurance company within a certain timeframe.
In the event that your property damage claim was denied, you can always appeal your claim. You will need to make a formal appeal to your insurance company and from there they will hear your claim again.
How Do You Fight an Insurance Claim Denial?
If you’ve had your insurance claim denied, one of the best things you can do is call a public adjuster. A public adjuster is someone who is able to help you settle a claim on the behalf of the policyholder. The reason this is a good thing is that a public adjuster knows insurance policy coverage lingo, they have been in the business before, and they negotiate on your behalf. If for some reason your insurance company will not secure your settlement even with the help of a public adjuster, it’s time to call an attorney.
If you are needing insurance claims help service in Indianapolis, IN call the public adjusters at Hope Public Adjusters today! We are able to give you a free claim review, so contact us at (833) – 31 – CLAIM