Six Common Mistakes Homeowners Make during the Insurance Claims Process
Whereas most people have home insurance to safeguard their possessions, costly mistakes are made when filing claims. That is why insurance adjusters play a crucial role in assisting hundreds of families in resolving their homeowner's insurance claims. These are some of the most common mistakes that homeowners make when they are going through the insurance claims process.
Failing to Understand Your Coverage
To successfully safeguard your home from losses, you must first understand whatever your insurance policy covers and does not cover. Make a point of reading the entire contract, to know the risks insured and any endorsements. If you're having problems comprehending the language, ask your agent or broker for help. Before filing a claim, go over your policy again. Make sure you understand the obligations you must perform to receive compensation for a loss.
Failure to Provide Evidence
When a fire or other risk has destroyed the property on your premises or workplace, you may be inclined to trash it. Do not attempt it! Leave the property alone until an insurance adjuster inspects it. This is significant because a standard property policy requires you to set aside the damaged property for inspection. You must also safeguard the insured property from future harm. If you throw away the damaged property, you risk losing vital proof about your loss.
Failure to Call the Police
Many insurance companies want to hear that you have properly handled any criminal behavior that has resulted in property damage or loss. If you are the victim of a burglary, vandalism, or other theft, you will want to call the police as soon as you can to report the crime. Reporting will provide proof that an accident or loss occurred and might assist in verifying the facts on your claim.
Failure to Inform Your Insurance Company in a Timely Manner
When an accident or loss happens that your insurance may cover, notify your insurance adjuster immediately, within an acceptable time frame. The moment events have recently occurred, and the evidence is fresh, claims are easier to change. Many commercial insurance policies require timely notification of a loss. The standard business property form requires you to notify the insurer of any loss or damage as soon as possible. Similarly, the ISO general liability form requires you to inform the insurer immediately an incidence, offense, claim, or suit occurs, failure to which your insurer may question the severity of the damage and refuse coverage on the grounds that you violated the insurance contract.
Failure to Accept Responsibility
If an accident occurs where another person is injured or their asset is damaged, do not confess fault. The cause of the accident may not be what you think. Furthermore, liability insurance forbids policyholders from assuming any duty without the approval of the insurer. An acknowledgment of fault may jeopardize your defense. It could also be considered a breach of the insurance contract, giving the insurer grounds to deny coverage.
Failure to Call an Insurance Adjuster
All these mistakes can be costly when it comes to settling your insurance claim. However, one of the biggest mistakes many homeowners make is not hiring the services of a public claims adjuster in Hillsborough County. We are trained to work with the policyholder to advocate for them during the entire claims process. Contact us to hear about how we can help you maximize your settlement today.
