Damages to the property can be extremely stressful for homeowners and business owners, so learning "How to file an insurance claim for property damage?" is essential to the success of your claim process. Whether it’s storm, fire, or leak damage, understanding the claims process is key to reducing the recovery timeframe.
How to file a property damage claim?
Step 1: Assess Damage
When you file an insurance claim for property damage, the first step in filing a property damage insurance claim is to have an evaluation of it. When everyone is out of danger, make sure to photograph all of the areas that were damaged; this visual evidence will be critical as part of your claim submission to your insurance provider.
Step 2: Evaluate Your Existing Policy
If you have existing policies, read them to find out what coverages are available. Coverages are widely different as well, with limit, exclusion, and deductible options. Business Property Coverage may cover damaged equipment or inventory, and Property Management Liability Coverage could be coverage for rental properties. Knowing what your policy includes can minimize miscommunications when it comes time to file a claim.
If you need help understanding what is or isn't covered, Summit Insurance offers expert guidance to explain exactly which coverages exist, as well as their claims process expectations.
Step 3: Contact Your Insurance Provider
Once you have assessed and documented the damage, the next step for filing a property damage insurance claim is contacting your provider as quickly as possible in order to report it; most insurers, such as Summit, offer 24-hour hotlines dedicated to filing claims. Be prepared when speaking to them with information such as this when discussing claims:
- Date and time of incident
- Damage details
- Photos or videos that demonstrate the extent of the damage
You will also need to keep in touch with insurance claims adjusters, who may send out someone to evaluate how much and how long it might take to repair certain damages, which will also help you know whether temporary repairs work within your budget.
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Step 4: Make Temporary Repairs
If your property is badly damaged, you may need to make immediate repairs to prevent further damage. For example, if your roof has been damaged by recent storms and there are holes where water can get in, or there are tiles or boards missing that leave areas exposed, you might think about covering these areas with a tarp to protect rainwater from entering and causing further damage.
Be sure to save receipts for materials or services you buy in order to make these temporary repairs, as your insurance company could potentially reimburse you for such expenses. Treat permanent repairs as if they won’t apply until after an assessor has signed off on them; any significant changes made prior to this inspection might invalidate your claim.
Step 5: Communicating With a Claims Adjuster
After you submit a claim to an insurance company, they’ll assign a claims adjuster to evaluate the cause of your losses. After they complete an on-site examination to determine how catastrophic its loss was, they’ll use this assessment to decide what percentage of your repairs or replacement costs the company will cover from the insurer. To make everything go as smoothly as possible, give your adjuster any documentation they request; that might include photos and repair receipts (photos are especially helpful for proving damage), and be present when he or she inspect the vehicle so that you can respond to any questions they may have about it.
Summit Insurance Kelowna can make the process more manageable by informing you what to expect from an adjuster and how best to prepare for an inspection.
Step 6: Get Estimates for Repairs
Once an adjuster has done their inspection, obtain estimates from contractors licensed to perform the work needed. It’s a good idea to shop around and make sure you are getting a fair deal, then present those estimates as part of your claim with your insurance company. Contractors are often referred by insurance companies, but you don’t have to use them. You’re free to select your own contractor; hiring one from the list might speed up the process, as they’ll already know what it entails.
Step 7: Review Your Settlement Offer
Once an insurance company has accepted both an adjuster's report and your estimates, it will present you with an offer that indicates its willingness to cover repairs for free. Review it thoroughly to ensure it covers your damages adequately. If the settlement amount appears insufficient to you, negotiate accordingly and submit any necessary documentation or estimates as evidence of inadequacy.
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Step 8: Completing Repairs and Submitting Claim
Once you have accepted a settlement offer, repairs can begin immediately. Be in contact with your contractor throughout to make sure the work is progressing as planned, then submit any final receipts to your insurance provider in order to process a reimbursement claim. Be certain you understand how the payment process for Business Property Insurance claims will unfold. Some insurers may pay directly, while others might reimburse after repairs have been completed.
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Final Thoughts
But knowing how to file an insurance claim for property damage could make a difficult situation much less stressful. You can get through this process by carefully documenting damage, scrutinizing coverage, and working with insurance carriers. At Summit Insurance, our staff of professionals will keep you on track throughout the entire process; compensation that corrects your property so business can resume as normal.
