When Disaster Strikes, Know the Drill

Dear Clients & Friends,

What happens when a natural disaster strikes, and you cannot get an insurance company to pay out your claim? When you are pursuing an insurance claim, always be the first to gather the evidence – visit the scene, take many pictures, and read through your own insurance policy. Insurance companies will only pay if the covered claims are sufficiently documented. Here are some easy things that you can do to make sure that you are paid:

• Locate copies of your insurance policies
• Contact your insurance company immediately and start the process to file a claim
• Take videos and pictures of the damage, make sure to make the scene appear most favorable to ensuring coverage for you
• Save copies of any receipts, checks, estimates, and invoices of all pre- and post-disaster damage
• Save copies of any expenses, purchases, rentals, and leases for all pre- and post-disaster
• Mitigate any damages through temporary repairs after documenting the damage
• Allow an insurance adjuster to visit the property and conduct their own inspection
• Obtain the latest appraisal of all premises, equipment, and business/personal property
• Prepare a map of the premises, include the location of personal property, equipment, and machinery
• Obtain a licensed contractor’s estimate for damage and a timeline for the repairs
• Retain an engineer to diagnose any structural damage to the property
• Notate any conversations with insurance representatives, adjusters, and experts
• Timely submit a “proof of loss” under the policy

For a homeowner’s insurance claim, know your policy terms, including the deductibles. Know whether your deductibles cover actual cash values or replacement costs. Also, know whether your deductible is to be applied before making a claim or after. If the deductible comes off first, it may eliminate your claim depending on the amount.

If you have any questions or want me to review your insurance policy with you, please give me a call or send me an email. Be well. John CM