Recognize that your claim may take longer to settle fairly than you’d anticipated. Keep all receipts for temporary housing and items you replace and submit them to your insurer for reimbursement.ģ. It may seem tedious to do this but keeping track of communications with your insurance company is really critical as you will probably have to deal with many different claim handlers. Confirm agreements, disputes and deadlines in writing via letter, fax or email. Take and keep detailed notes of all conversations with insurance company representatives (record their names, phone numbers, job titles and supervisor’s names). Set up a section for your Dwelling loss, a section for your Contents loss/ inventory, and a section for your Loss of Use/Additional Living Expenses. Get a three ring binder and get organized If you find you are underinsured, get educated on your options.Ģ. Many homeowners who experience a total loss are underinsured, meaning they don’t have sufficient limits to cover the cost of replacing what they had. Make sure the policy covers what you thought you bought and what the agent/insurer told you it would cover. Seventy percent is standard.Ĭheck your limits for “scheduled” personal property items, (artwork, jewelry, valuables). Basic contents limits are generally set by the insurance company as a percentage of your dwelling coverage limits. You’ll need to do some math and piecing together to figure out what your policy limits actually are. In addition to the dollar amounts on the “dec” page, there may be limits explained in other parts of the policy for specific items, such as valuable papers, art work, computers, etc. Start at your “dec” page and check the dollar amounts/limits for your Contents/Personal Property. See our Basic Tips for contact information. If your agent or insurance company is dragging their feet, call the consumer services department at your state insurance regulator’s office and tell them you need immediate help. The policy will be hard to read and understand, but knowing what you’re covered for is a critical first step in the claim process. The page that states your name and address, policy number, dollar amounts of coverages and “endorsement” codes is called your “declarations page” (called a “dec” page). Get and read a complete and current copy of your policy as soon as possible. Report your claim promptly and read your policy You’re not on a level playing field so take advantage of the free support and info that UP has to offer.ġ. You’re probably overwhelmed by your losses and the insurance process. Adjusters are trained to control payouts by gaining your trust while being firm about dollars and cents. Give your insurance company a chance to do the right thing, but don’t mistake a friendly adjuster for a friend. You’re not dealing with your “good neighbor”-you’re dealing with a company that’s in business to be profitable. When you deal with an insurance company on a claim where large dollars are at stake- it’s business. When it comes to collecting on your insurance policy to replace the contents of your home, it’s all about documentation, organization and negotiation. It doesn’t matter where you live… Louisiana, Mississippi, Florida, California or Texas - the insurance claim process is the same. The tips you’ll read here are based on our organization’s over twenty years of experience working with property owners who’ve suffered small to total losses.
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