Mistake 1: Not understanding what your insurance policy covers.
How does this affect your claim? Lack of knowledge about the coverages you have can cost you thousands of dollars! If you do not understand what your policy covers, you will not know if the insurance company is giving you a fair claim settlement.
Mistake 2: Not knowing what your rights are.
How does this affect your claim? Most people believe that the insurance company’s way is the only way. However, you are entitled to have your own representative, such as a public adjuster. You can choose your own contractor, mitigation company, or restoration specialist. If you have professional representation your interests are protected.
Mistake 3: Waiting to file a claim.
How does this affect your claim? Most insurance policies require the insured to promptly notify the insurance company after a loss occurs. Waiting to file a claim can result in the insurance company denying your claim.
Mistake 4: Not documenting the damage.
How does this affect your claim? In an ideal situation, you will have before and after pictures to show the extent of the damage to your home. However, many property owners do not think to take photos until after a loss occurs. In either case, it is important to take pictures of damages as soon as they are discovered. Having photo documentation of damages goes a long way in settling your claim fairly.
Mistake 5: Poor communication and not accurately describing damage.
How does this affect your claim? Many times, property owners describe damages to their property inaccurately. Poor communication and inaccurate descriptions of damages can result in delays in the claim process. It is important for you to be clear about damages when filing your claim to avoid these delays.
Mistake 6: Taking advice from people who have never experienced a major loss.
How does this affect your claim? After experiencing property damage, most property owners are overwhelmed. Property owners typically reach out to people they know for advice and can be easily influenced. Talk to an expert, who is not associated with your insurance company, to ensure your interests are protected.
Mistake 7: Making decisions too quickly.
How does this affect your claim? There are many decisions that need to be made during the claims process. Make sure to take your time and do your research. Understand your policy, talk to an expert, and check references of any company you plan to hire.
Mistake 8: Letting the insurance company contractor start repairs without knowing the exact price and scope of repairs.
How does this affect your claim? Insurance companies have “preferred contractors” that they work with regularly. Most of the time this contractor’s estimate is lacking and leaves off money that is owed to you based on your policy. We suggest having a professional contractor, unrelated from your insurance company, assess your property to compare and ensure your property is being repaired correctly.
Mistake 9: Not understanding that when the adjuster gives you cash advance this amount is coming out of your final contents.
How does this affect your claim? It is important to keep track of expenses incurred during the claims process. Keep all receipts and invoices. Proper financial records will minimize any misunderstandings throughout the claim process.
Mistake 10: Trying to tackle a big claim alone.
How does this affect your claim? Large claims are very complex and can take months to resolve. If you have extensive damage to your property, you should consider hiring a public adjuster in the beginning of the claims process. Public Adjusters are licensed by the state to represent property owners on their insurance claims. They can work on your behalf and ensure you get a fair claim settlement.
