Answering Common Questions
About Home Insurance
People purchase home insurance to feel like their most expensive and important investment is safe against disasters. However, most people have questions about their policies, and any gap in understanding means their coverage may not be airtight.
There’s no such thing as half or semi-peace of mind. Please read on to get some of the most common questions about home insurance answered so you can feel confident about your policy and submit a claim confidently.
What Exactly Do Insurance Adjusters Do?
There are important distinctions between different types of insurance adjusters and insurance lawyers. Understanding these will help you better navigate the process.
The insurance adjuster working on your claim is basically an insurance company employee sent to assess your claim. They don’t work for you, and if anything, they might be working against you. In contrast, when homeowners hire a public insurance adjuster to help with the claim’s paperwork and negotiate a larger settlement, they are working for your interests.
Homeowners can also hire insurance lawyers, who tend to know more about these complex legal issues and can help move your claim forward past disputes that commonly arise. Don’t think you need to accept the first number your insurance company gives you. As your public insurance adjuster and insurance lawyer will state, you may be entitled to more depending on your policy. And an insurance lawyer can help you better understand the policy so that you can get the most out of the settlement that you are entitled to.
Are Insurance Claims Fast?
Naturally, everybody wants their home insurance claims resolved quickly to feel grounded again. Seeing a fire or flood ravage your home is heartbreaking and stressful, and nothing is more natural than wanting to get past this disaster quickly. However, this will depend on the insurance company for that to happen.
Smaller, simpler claims may only take days or weeks to process. The stakes are higher with larger claims, and so is the timeline. That’s not the only reason they may face delay. If your home suffers damage from a fire or flood, neighbours will likely face the same issue.
The optimal path here involves managing the paperwork closely and giving the insurance company the fullest information about the damage.
When Should a Person File the Claim?
If you’re going to file an insurance claim, don’t waste any time! The quicker you file it, the stronger the claim. Calculate whether the damage exceeds your deductible to see if it’s better to submit the claim or pay out of pocket, then get going with a formal claim.
For small problems, reporting the loss without filing the claim could be easier. Major claims like a fire or flood are usually what you buy home insurance for. Even if the structure is standing and the damage doesn’t seem substantial at first, there could be a lot of smoke damage to your belongings. Buying them all again adds up quickly, so you’ll want to submit that insurance claim. Alternatively, you may begin minor repairs only to discover much more damage beneath the finishings in your home.
It’s hard to see your home get damaged, much less destroyed. Knowing there’s recourse, that you won’t come to ruin if it’s insured, is a comfort, but the claims process is not always simple or quick and needs to be handled properly. Remember the above points and call a public insurance adjuster or insurance lawyer if you need help today.
