After the storm or fire, a property owner now has to think about what to do with their property and how to handle their insurance. After checking on the safety of all, the first thing is to minimize the loss. What can a person do to protect and prevent further damage to the property? This may involve covering damage with plastic sheets, tarps, or plywood to protect the property from additional damage either from the weather or to prevent access to a 3rd party, primarily for vandalism or theft. The insurance company will most likely reimburse the owner for all reasonable costs taken and materials used. This does not mean to engage and start the repairs before an adjuster inspects the property. If possible, also take photos of the damage and keep all receipts.
Submitting Your Claim
The next step is to turn the claim into the insurance company. Usually within 24 hours an adjuster is assigned to you claim. The adjuster will want to inspect and appraise your damage as soon as reasonably possible. A property owner will want to find out a few important items from the adjuster.
- All contact information for the adjuster and whoever else will be working with the claim.
- Schedule of the process, and time frames of estimates and claim payments.
- Any deductibles required
- What approvals will be needed from the insurance company prior to starting repairs
We would advise also having a contractor or repair professional with you to meet with the adjuster as well. The adjuster will also want the property owner to help in some of the valuations such as contents or belongings in the structure.
Once the adjuster responds back to the owner with an estimate, it’s time to determine what steps can be started for repairs and when payments will be received. Most likely the insurance company check will be made out to the property owner and any applicable mortgage company. The owner will need to have the mortgage company to sign the check over to them for repairs. The mortgage company will want some details on what the next repair steps will be.
While most property claims follow this pattern, sometimes a claim won’t. It is good to seek the advice of your agent should there be any questions or concerns. To learn more about Ramey King, what we do and how our services can be of benefit to you, give us a call today. You can reach a Ramey King Insurance agent at 800-453-9691, by emailing info@rameyking.com or by filling out the quick and easy form on this page. We look forward to hearing from you!
