Insurance

The Home Insurance Claims Process: What to Expect and How to Navigate It

March 3, 2023

Having insurance for your valuable assets like your home, car, or business ensures that you are not left in the lurch in case of an eventuality. An insurance company collects regular premiums, and if any claim happens, the settlement is made in keeping with the insurance coverage.

A residential unit is subject to several threats, and your house is one of your most valuable assets, so it makes sense to insure it.  Home insurance Roanoke provides multiple insurance quotes for residential units in Roanoke.

Why Does Your Home Need Insurance Coverage?

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A home is subject to many threats which can reduce the value of your assets. Some common threats that all residential units face are damage from natural disasters like floods, earthquakes, etc. Damage to houses can be caused by man-made disasters like accidental fire, theft, riots, vandalism, etc.

Since any residential unit faces innumerable threats, most people spend money on buying insurance coverage for their residential units.

However, most people are unaware of the pitfalls that they should avoid while claiming home insurance. So this article lists some tips that will help you navigate smoothly through your home insurance claiming process.

If you want to know about simple ways of choosing the right home insurance click here.

How to Navigate Smoothly through the Home Insurance Claiming Process

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Read the Policy Document Carefully before Taking Any Further Action

Most people do not read their policy documents properly when they get insurance coverage or when they are applying for a claim. However, reading all the clauses of the policy document is of vital importance if you wish to avoid undue delays and harassment.

Thus, it is advisable to read even the fine print when it comes to insurance policy documents. Once you read the document carefully, you will know what is included or excluded in your policy cover.

If you want to know why is it necessary to take a home insurance plan visit here.

Once You Have Read the Policy Document, Contact Your Insurance Company

There are several ways by which you can get in touch with your insurance company. If you have taken a cover via an agent, you can contact the agent, who will inform the company on your behalf. Alternatively, you can send a fax or an email or contact the company via a dedicated helpline number if they have one.

Collect Evidence to Support Your Claim

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The best way to collect evidence to support your claim is to document everything you can. Remember, an insurance company will be very stringent while validating the authenticity of your claim. So if you have solid evidence to back your claim, it will make the process much more smooth.

So if your house has been damaged in a natural disaster like a flood or an earthquake, then you can click photographs. When the company sees photographs of the property before and after the disaster strikes, the extent of the damage should be clear to them.

Also, keep bills from hospitals that prove that you had to undergo treatment after the disaster struck. So if your house was on fire and if any of your family members suffered burns, have the medical documents and bills.

In case of a fire accident, if the fire brigade had been called into action, there would be a report from the firemen. The fire brigade usually gives a report which gives an indication of the source of the fire and also the extent of the damage.

Knowing the cause of the fire is of vital importance from the point of view of an insurance company. This is because when the fire brigade confirms that the fire was caused by accident and was not deliberate, it helps the insurance company rule out foul play.

Likewise, if your house has been damaged in a riot, then you must have reported the incident to the police. So a copy of the police report can prove the veracity of your claims with respect to a riot or an event of vandalism.

Be Prepared to Host a Surveyor

When you take a new policy cover, an inspector visits your house to check for the structural integrity of your house. He also tries to mitigate the factors that may pose a risk in the future, like a lot of clutter which can be a source of the fire.

Similarly, after you have filed a claim for your home insurance, you will most likely have to host a surveyor. The surveyor will survey your property to assess the extent of damage caused.

The surveyor will report back to the insurance company, and once he has validated your claims, you can expect your payment.

The Form in Which the Claims Are Settled

The way in which the claim is settled largely depends on the type of damage that you have suffered. So in most cases, you will get a part of the claim for repair works.

Usually, if the basic structure of the house and your belongings have been damaged, then you receive two separate payments. In some cases, you also get the complete payment on the spot after the surveyor has given his report.

In such cases, you get a one-time payment; however, if you spot any damage that went unnoticed, you can reopen your file.

Conclusion

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It is possible to have a smooth journey when claiming your home insurance policy. It is true that most insurance companies will thoroughly scrutinize each claim and will make sure that you are not trying to claim more money than what is due.

However, in most cases, problems arise when people do not understand what is excluded from their policy document. So reading the policy document and understanding all the clauses is vital to avoid any harassment and litigation after any disaster has occurred.

Another reason why many claims take years before they can be settled is that people do not document their losses properly. But if you are cautious while documenting your losses and you are diligent in following the norms, then the process of claiming your home insurance will not be a headache.

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