The first step to filing a property insurance claim is to notify your insurer of the damage. Review your policy for coverage and time limits on filing a claim. The insurer will create open a claim and generate a claim number. This claim number will be used in all communication with the insurer. Remember that you have a duty to protect the property from further damage while you are progressing through the claim process.
Next, your insurer will send a claims adjuster to your property to review the damage and generate an estimated damage report. Be cautious when accepting any initial offers if they require you to waive your rights to re-open the claim if further damage is later found. Insurance is a business and the claims adjuster is there on behalf of the insurance company. They are not there to advocate for you. Insurance companies are profit-making businesses.
If you are able to resolve your claim, the insurer will issue a check for repairs. If you have a mortgage on your property, your insurer will generally issue checks to both you and the mortgage holder. To protect their financial interest, most lenders usually require that they are named in the homeowner’s policy and are a party to any insurance payments related to the structure.
If you are unable to resolve your claim, it may be time to call in a qualified professional, like Lundquist Law Firm, to help you get the funds you need to put your property back to the same condition it was in before the damage occurred. Contact us today for a free consultation!