Five Facts about the Property Insurance Claims Process that You Need to Know

Have you recently suffered from a disaster that has caused extensive damages to your home or property?  After caring for your family’s safety, one of the most important aspects of dealing with a fire, earthquake, or other disasters that cause damage to your property is correctly describing the damage to your insurance company. There are many reasons people might need to file property claims in central Florida.  The amount you receive for your loss is determined by the type of coverage you purchased.  In addition to claiming damages or destroyed property, the insured may be eligible for additional living expense reimbursement if they need to relocate elsewhere under certain conditions temporarily.

There are a few facts that you should understand about property insurance claims that can help you with the overall process.

Report the Incident in a Timely Manner

The insurance broker is the primary point of contact for the insurance policy proceedings; thus, they should understand your predicament and how to progress. An adjuster will contact you to continue the property insurance claims process after you provide your broker with a detailed list of all the items that were damaged or lost, as well as any photos or videos that will help to clarify the circumstances.  In burglary/ theft-related loss or damage, the victim must first report it to a local police district and obtain a police report to use as proof supporting the claim.

The Insurance Company Will Start the Investigation

After you report a property insurance claim, an adjuster will probe it to determine the amount of loss or damage covered by the insurance policy. However, the adjuster will identify every liable party, and you can assist the process by providing any witness information or contact information for those other parties.

The Insurance Policy Will Be Reviewed

Once the damage investigation is concluded, the adjuster will carefully examine your policy to determine what is or is not covered under your policy and inform you of every applicable deductible which may apply to your case.

There Will Be an Extensive Damage Assessment

The insurance adjuster may employ appraisers, engineers, or contractors to provide expert advice to assess the extent of the damage accurately. Following the completion of the evaluation, the adjuster will consequently provide you with a detailed list of preferred vendors to assist with repairs. The insured is not indebted to these vendors, but they can save you a lot of time and research.

The Payment Will Take Time

The moment the repairs have been completed, and any damaged or lost items have also been replaced, the adjuster will contact you to discuss the settlement and payment of your property insurance claim. The time frame it takes to receive compensation is determined by the complexities and severity of your situation. Each property insurance claim is unique, and this process can take time before you see a check.

These are a few facts that you should understand about the insurance process when you file property claims in central Florida.  If you have any questions during your property insurance claims process, contact Five Star Claims Adjusting to hear more today.