| Before the Storm |
Update Your
List of Personal Belongings
- Itemize your inventory
- Include costs
- Attach receipts to inventory
- Take photographs or videos and
date them
Review Your
Insurance
- Examine your policies to
ensure you have adequate coverage. Has your home increased in
value? Have you purchased expensive items such as electronics or
major appliances? Have you made improvements since your purchase
of your home?
- Know what your policy does and
does not cover. Standard homeowners policies usually limit
coverage on valuables such as jewelry, guns, boats, or
computers. You may need extra coverage for these items.
- If you live in a condominium
or multi-family dwelling, check to see what coverage you have
through your association and know the coverage for which you are
separately responsible.
- If you rent, ensure that your
belongings are adequately insured.
- Check into coverage for
additional living expenses. Most policies will pay for some
expenses if your home is so damaged that you cannot live there
while repairs are taking place. These could be limited to motel,
restaurant, and warehouse storage expenses. They will only pay
amounts for which you show verification. So, if you want to get
reimbursed, you have to keep all food and lodging receipts for
the period you are homeless.
- Know whether your insurance
policy is for actual cash value, which pays the cost to replace
your belongings minus depreciation, or replacement cost, which
reimburses you for the actual cost to replace items.
- Contact your agent to discuss
possible policy changes. Consider increasing your coverage if
your policy doesn't cover the current value of your home and its
contents.
- Gather all appropriate contact
information. Your insurance company, agency, agent and
underwriter may all have different names.
Safeguard
Your Records
- Keep copies of important
insurance records in a safe deposit box or with
friends/relatives.
- Keep a set of copies at home.
Take it with you if you are going to evacuate.
|
| After the Storm |
- Immediately report property
damage to your agent and insurance company.
- Get claim forms from your
agent. Find out if you can file the claim by phone.
- Your insurance company will
issue a claim number. You will need this number to obtain claim
status.
- Your agent will arrange for an
insurance adjuster to visit your property to assess the damage.
Types of adjusters include:
-- Company Adjusters: Are
employees of insurance companies
-- Independent Adjusters: Are
normally employed by independent adjusting firms that contract
with insurance companies to handle claims
-- Public Adjusters: They do not
work for insurance companies or independent adjusting firms. Most
public adjusters work for themselves by representing the insured
on their claim. A public adjuster is paid a percentage of the
claims settlement by the policy holder. Therefore, you must share
part of your settlement when you use a public adjuster.
No matter what type of adjuster
you use, make sure you find a licensed one. Ask to see
identification, and if still uncertain, call the Department of
Insurance toll-free at 800-342-2762.
- • Make emergency repairs and
document them. These repairs might be required by your policy to
prevent further damage to your home or its contents. Keep all
receipts and take photographs of the damage, before and after
the repair, to submit with your claim.
- • Take precautions if damage
requires you to leave your home. Take these steps before you
leave:
--Secure your property and remove
any valuables
--Lock all windows and doors
--Contact your agent and leave a
phone number and address where the agent can reach you
Take the
same precautions if you receive notice to evacuate before a storm.
- • Beware of unscrupulous
repair businesses.
--Hire only licensed and
reputable service people, preferably from your community
Call the Department of Business
and Professional Regulation at 1-800-342-7940 to find out if a
contractor is licensed. |
