Handling a home insurance claim by yourself can be tricky. You need to be able to interpret the small print and figure out whether any cover exclusions and clauses apply to your particular case.
Then you need to be able to understand the full extend of the damage. Remember that some damage is not obvious and the contractor you call in to quote, may not have any experience in fire or water damage restoration work.
You will also have a hassle of dealing with your insurer’s loss adjuster, who will use every trick in the book to reduce or even refuse your claim. And, if this is not all.
Your insurance company will try to delay finalising your claim, hoping that the longer you wait, the more desperate you will become, and you will accept lower settlement.
For those reasons, it is therefore always better to appoint a Public Loss Assessor, who has a lot of experience in handling similar insurance claims.
However, if for whatever reason you still prefer to handle your own claim, here are the steps you need to take if you decide to handle the insurance claim by yourself.
Home Insurance Claim Management Process Steps
- Photograph and accurately describe all the damaged items. Include make , models and special features.
- Find receipts where possible for the damaged items.
- Call your insurance company and get a a claim number
- Get a claim form to fill
- Source and obtain 3 estimates from contractors for the required repairs. Make sure that all aspects of the repair have been covered, you cannot make a second claim later. Try to get quotations that are similar in value. The insurers will always consider the cheapest quote.
- Complete the form as accurately as possible. Do not cross anything out. Think, before you fill it out.
- Call your insurance company to set up appointment with their Loss Adjusters
- Meet with a Loss Adjuster who will assess the damage (Be careful here – They will adjust the lowest price estimate and reduce the claim where they think they can apply exclusions and limitations therefore reducing the insurance companys liability).Make sure that aspects of your loss have been assessed correctly. Don’t be confrontational, be factual and firm.
- The insurers will give you the final settlement minus the policy excess. They will keep a portion of your settlement back until repairs are completed and costs vouched. Don’t accept the figure if you think it is unfair. Negotiate a better deal.
- Once the final settlement figure is agreed and approved by the insurers, you can go ahead and have the property repaired. The difference between the estimates and the actual cost of repairs will have to come from your own pocket.
- Insurance company will re-inspect your property to ensure that the repairs have been completed.
- They may take time to pay you out the amount retained. You need to call them and give them hard time if need be.
Need Help With Your Home Insurance Claim?
If you have changed your mind and you don’t fancy the hassle of dealing with the insurers,or facing the risk of having your claim denied, contact us. We can take care of whole claims process from start to end.
He will be able to carry out specialised assessment and point out hidden damage areas which are not immediately obvious, but they are likely to surface after the claim has been settled and closed. This will save you expensive repairs out of your pocket in the future .
Appointing an experienced Loss Assessor will also save you the stress and aggravation of dealing with the insurers and help you get you the full compensation you are entitled to.
Insurance Claim Solutions are Public Loss Assessors and Insurance Claim Management Experts operating on your behalf with many successful claim cases under our belt. If you need help with any aspect of your claim, please contact us for a free, no obligation survey.