Re-evaluating Your Home Insurance

Re-evaluating Your Home Insurance

Avoid These Common Insurance Claim Filing Mistakes

by Mercedes Reyes

If there has been an incident and you need to file a claim, it is important that you do so promptly and correctly. Making an error in the filling process could keep you from the benefits you deserve. Here are some tips for filling an insurance claim.

Taking Too Long to File

One of the most important things to do after there is an incident is file the claim promptly. After you have contacted your insurance company to let them know about the incident, they will come out to survey the damage, then let you know how to file your claim. There is a specific window of when the claim can be filed. You need to work swiftly, making sure you gather the required documents and submit the claim within that window. If you wait too long, you might have your claim denied and may not even be eligible to an appeal.

Not Including All Required Documentation

Part of filing a claim is showing exactly why you need benefits in the first place. You must have proper documentation for the source of the damage and the amount of damage it caused you. For example, if there was a fire in your home that destroyed most of your kitchen appliances, you need to be able to show what caused the fire and that it was not your fault. You will then need to provide a list of appliances that were damaged and approximately what their value was. If you fail to give them the documentation they request, your claim could be denied, at which point you might need to appeal the denial and hope it is approved the second time.

Filling When it Isn't Necessary

Not every type of damage or incident is a good reason to file a claim. Keep in mind that it is a lot of work just processing a claim, not to mention that you go through filing the claim. It might also have an effect on your insurance premium in the future. Make sure you definitely have a claim worth filling, looking at the type of damage and loss it caused. If the loss was minor, you might find it more worth it to just cover the damages yourself, then wait to file a claim until something major occurs in your home.

Also make sure when filing the claim, you put the current value of the goods that were damaged or lost, not what they cost when you purchased them new. Contact a homeowners insurance agency for more information. 


About Me

Re-evaluating Your Home Insurance

In a few months, my husband and I plan to begin a major renovation on our home. During this extensive project, we will be ripping out old flooring, redoing our front porch, and building a 600-700 square foot addition. After all of our hard work is complete, we should have significantly more equity in our house than we do now. As a result, my spouse and I will need to re-evaluate our home insurance policy. We will likely need to increase our policy’s coverage. On this blog, I hope you will discover some of the most common reasons for increasing the value of a home insurance policy. Enjoy!