Preparation key to filing a claim
The president of a New Hampshire investment advisor firm told WMUR-TV that residents ought to know the ins and outs of their policy before they file a homeowners insurance claim.
Marc Herbert of The Harbor Group told the station it's important for homeowners to have a firm grasp of what their policy covers before it's time to file a claim. For instance, standard homeowners insurance does not cover flood damage, so consumers should secure that coverage elsewhere before an incident arises. Additionally, homeowners should document their belongings well ahead of time. Herbert suggests videotaping the contents of the home.
If damage or a theft occurs, homeowners should immediately contact their insurer, verify that their policy covers the incident, confirm their deductible, and ask for repair estimates. Herbert also cautioned that insurance adjusters normally come to investigate a claim with a number of forms that require detailed descriptions and estimates of the damaged items.
"Be prepared to show the adjuster the damage. Provide the adjuster estimates of the repair bills. Show the adjuster the receipts and invoices for any temporary repairs you may have made," said the report.
Damage to a home may also have tax implications, and the Internal Revenue Service provides information to help homeowners report and possibly deduct their losses.
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- Total costs from Minneapolis tornado reach $80 million May 21, 2012
- Analysis shows more than $2B of insurance claims from Joplin tornado May 18, 2012
- Recovery continues for Michigan tornado victims May 17, 2012
