Blogging important insurance stuff!
Blogging important insurance stuff!
Natural disasters bring a wide path of devastation in their wake. Long after the initial loss of life and injuries occur, homeowners who are affected are left handling the cleanup. From 1980 to 2018, the United States has had 230 weather and climate disasters with over $1 billion in costs, for a total cost of $1.5 trillion. In 2017 alone, natural disasters cost the country over $306 billion. Even smaller scale disasters can leave homeowners devastated. Thankfully, homeowner's insurance helps cover most of these disasters, but homeowners need to know how to get the most out of their policies.
Unfortunately, many homeowners do not have adequate coverage to help after a serious disaster. Those that do do not know how to get the most out of their coverage. While insurance companies do seek to help their customers, they are ultimately businesses and are working to make a profit. Also, after a disaster insurance companies are often overwhelmed by the sheer number of claims they face, which can lead to delays or denials. Homeowners need to know what they can do to ensure they are getting the most out of their insurance policies in the days following a disaster.
Being prepared for an insurance claim after a disaster starts before the disaster strikes. This guide will help you know what to do before, during and after a disaster to maximize your insurance coverage and ensure you have enough money to move forward and rebuild. With the tips in this guide, you can be confident that you are fully protected and fully educated on what you need to do should a disaster strike your home.
Before the Disaster – What You Need to Do
Sometimes, taking precautions to protect your home and ensure you have full homeowner's insurance protection starts before the disaster strikes. Unfortunately, close to 65% of all homeowners are inadequately insured, especially in relationship to natural disasters. Adding certain coverage types, reading your policy and ensuring you understand what is and is not covered, so you can take the right precautions to protect your home, will all help you come out in front after the disaster. Here are some tips that will help you make sure you are properly protected before a disaster strikes.
During the Disaster – What You Need to Do
When a disaster hits, either with or without warning, your main focus needs to be on protecting your family. There is not much you can do related to the insurance while the disaster is happening. Your primary focus needs to be safety. However, there are some steps to take to ensure you get the most out of your homeowner's insurance when the dust settles. Here are some tips to help.
After a Disaster – What to Do
If you have prepared well and have the right coverage, the real work of getting the most out of your insurance policy will start after the disaster is over. This is where swift action is important, and it's also where mistakes can be quite costly. Here is a guide that will help ensure that you get the full coverage you have paid for when the dust has settled after the disaster, all while keeping your family safe.
Preparing and Repairing the Property
Your first priority is likely going to be your home and belongings. Here are some tips that will help you start the recovery effort without jeopardizing your insurance claim.
Working with the Adjuster
Your insurance company will send an adjuster to research your damages before they make an offer for your claim. Here's how to work with one.
Getting Through the Claims Process
Here are some tips for getting through the sometimes tedious claims process:
Stay Informed and Alert, and Get the Most out of Your Insurance Policy
You have homeowner's insurance for a reason, and you have paid your premiums faithfully to ensure you are fully covered. If a disaster strikes and you nee to make a claim, understand your rights as it relates to your policy. Follow through to ensure you are getting the payments you deserve based on the policy you purchased, and you can move forward after a disaster rebuilding with confidence.