Natural disasters…are they getting more frequent? Sure seems that way.
2018 was the eighth consecutive year where the US saw eight or more natural disasters costing a billion plus dollars.
Has your business suffered loss after a natural disaster? Are you waiting for a flood insurance claim payout? Are you asking, “How do insurance companies pay out claims?” Can I make a hurricane claim?
After a disaster, of the natural type, you will need to file a claim if you wish to receive compensation for damage. Here is a guide to securing a claim settlement.
A Guide to Securing a Claim Settlement
As if dealing with the mess and clean up of a natural disaster isn’t enough, you must take the proper steps to file with your insurance company to make a claim.
If you are depending on insurance money to get back on your feet, take careful steps to file your claim. Government assistance may be available as well.
1. Contact Your Insurance Company
This is your first step and it should be done immediately. All of those affected will be filing claims and you want yours to be close to the front of the line.
Even if you are not sure your damage is covered, contact them anyway. Insurance professionals are there to help and to give you a clear understanding of your coverage.
You’ll find out what’s covered if you have a deductible and how much it is, and for what you will be compensated.
2. Minimize the Damage
After you’ve contacted the insurance company, do what you can to prevent further damage.
Try to save any of your belongings that are not too far gone.
Take pictures and/or videos of the property for proof of your loss.
Do not throw away any items for which you expect compensation. The insurance company may ask to see them.
3. Make Emergency Repairs
If your building has a gaping hole in the wall, for example, you’ll want to get that covered to prevent water or debris from further damaging your property.
Make any repairs that will keep things from getting worse. Save the receipts for eventual reimbursement.
Leave repairs that are not urgent for after the insurance adjuster visits the property.
4. Meet With the Adjuster
Prior to your meeting with the insurance adjuster, the insurance company may send you a proof of loss form.
Prepare for the meeting by having that completed. If you do not receive it ahead of time, you may want to be ahead of the game with a list and description of the damaged items.
File your proof of loss as soon as possible. Your claim cannot be completed without it.
The adjuster will assess the damage to your home and get your claim started.
Knowing Your Insurance Policy
It’s a good idea to be familiar with your coverage before a natural disaster hits so that you will be prepared for such an event. Knowing what to do to secure a claim settlement is just as important.
You have claims. We have solutions. Contact us with your questions.
