1 / 6

Home Insurance 101

Knowing your responsibilities while claiming home insurance speeds up the whole process. Here is the complete guide to help you understand the process of filing a home insurance claim better.

AbeGTAssociates
Download Presentation

Home Insurance 101

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HOME INSURANCE 101

  2. Homeinsuranceisaform ofresidenceinsurance similarto condo insurance, thatcovers damagestoanindividual’s property, alongwiththe otherassets. It provides liability coverage foranyaccidents, interior/exteriordamage, anddamageofpersonal assetsontheproperty. Whenaclaimismadeonany incident, thepolicymakerwillbe requiredtopayadeductible, whichin effectistheout-of-pocketcostforthe insured. Whenviolentstormsdamage yourhome, aburglarbreaksin, or whenanunfortunateeventstrikes closetohome, youmayneedtofilea claimwithyourinsurancecompany. Aspartofthecontractbetweenyou andyourinsurancecompany assistant, bothinsurerandthe homeownermustfollowsomerules andprocedurestoclaimpolicy.

  3. Readyourpolicydocuments carefullytoknowwhat responsibilitiesyourhome insurancerequires. Herearesomestepstohelpyou understandtheprocessoffilinga homeinsuranceclaimbetter: 1. ReportCrimeImmediately: Ifyouareavictimofatheftor burglary, reportittothepolice. Geta policereportandthenamesofalllaw enforcementofficersthatyoudealt withandprovidethedetailsofthe eventtoyourinsurer. 2. CallYourInsuranceAgent: Askthefollowingquestionstoyour insuranceprovidingprofessional: AmIcoveredunderthe homeowner’sinsurance? HowlongdoIhavetofileaclaim? Willmyclaimexceedmy deductible? (Ifyourlossislower thanyourdeductible, you probablywouldn’twanttogo throughtheclaim’sfilingprocess.) Howlongwilltheprocesstake?

  4. 3. FillOutClaimForms: Ifyou’veestablishedthatyou’llbe makingaclaim, yourinsurance companyhastosendallthefilling formsrequiredintheprocedure (by law, companiesmustsendyouthese withinaspecifiedperiod). Sendthe filledoutformsassoonaspossible, withoutdelay. 4. AskToInspectDamages- Losses: Theinsurancecompanywillassignan insuranceinspector. Theinspectorisa representativewhoinspectsproperty damagetodeterminehowmuchthe insurancecompanyshouldcoverfor theloss. Heorshemightalso interviewthehomeownertoknowthe extentofdamageandloss. 5. PrepareForInsurance Inspector’sVisit: Notedownallstructuraldamagesand havealistofdamageditemsreadyso youcanmaketheinsuranceclaim processquick. Havingalistwillalso ensureyoudon’tmissanythingatthe timeoftheinsuranceinspector’svisit.

  5. 6. MakeTemporaryRepairs: Photographorvideotapethe damages, thentakereasonableand emergencystepstoprotectyour propertyfromanyfurtherdamage. Avoidthrowingoutdamageditems untiltheinsuranceadjuster (insurance inspector) seesthem. 7. ListLost-DamagedThings: Tosubstantiateyourloss, makealist ofalldamageditems. Also, makea copyofthelistforyouradjuster. Show himorherwithavailablecopiesof receiptsfromdamageditems. (Preparingahomeinventorywill speedupthispartoftheclaims process) 8. KeepReceiptsHandy: Ifyouneedtorelocate, keepyour receiptswithyou. Ifyourhomeis damagedsubstantially, youmight needtofindotheraccommodations. Keepreceiptsandrecordsofall additionalexpensesincurredwhile repairsaregoingon.

  6. 9. Don’tHesitate, AskQuestions: Nobodyknowseverything, sonever hesitatetoask questions forany confusion. Ifyouhaveanyquestions abouttheclaimfilinglaws, callyour insuranceprofessionaloryourstate departmentofinsurance. Followingthesestepsspeedsupthe processoffilingforhomeinsurance, andsomestepsareevencrucialtofile forhomeinsurance. Contactus or dropusyourdetails ifyouhaveany queryabout homeinsurancein Chicago, ourexpertswillbemore thanhappytohelpyou. 312-738-1384 www.abegtinsurance.com

More Related