A person’s home is a sacred thing. It’s where they and their family live, and it’s also what stabilizes their long-term finances. Naturally, watching your home catch fire can be devastating.
It may not seem fair, but the very moment when a person can be excused for not feeling like their best self is precisely when you need to bear down and respond to the disaster correctly. If the unthinkable happens and your home catches fire, here are three reasons why you need to call your insurance company as soon as possible, and what you need to tell them.
1. Do not Give Them a Reason to Deny the Claim
Insurance companies use all kinds of tricks to minimize the size of the claims they pay out or avoid paying them altogether. There are usually strict conditions you need to follow, or they could void your claim.
The more time elapses between the fire and your first point of contact, the easier it’ll be for the insurance company to wash their hands of your claim. Naturally, in the immediate aftermath of a house fire, you need to make sure that you and your family are all safe.
Contact the police and the fire department. Once you’ve done that, take a breath, calm yourself down, and call the insurance company to report the loss and open a claim.
Read also From Savings to Payments: Comparing Offset Loans with Standard Mortgages
2. Schedule of Loss
There are many different types of home insurance coverage. No matter which you have, you’ll need to compile a list of property and belongings that are now non-restorable after the fire, known as a Schedule of Loss.
You need to provide this list to the insurance company. The fuller the documentation, the better odds you’ll have of getting a larger settlement. The schedule of loss should contain the belongings in the house that were destroyed and their value. The insurance company may want to restore or try to restore some items. Only the non-restorable items should be listed on the Schedule of Loss.
You may consider making a list of the expensive items in your home beforehand so you’ll be better prepared and won’t have to scramble as much in the event of a devastating house fire. It’s also great if you have photos and videos of the damaged property to support your claim. The more evidence you have, the harder it will be for the insurance company to push back against what you have submitted.
3. Insurance Lawyers Can Help
While you need to call your insurance company immediately, those aren’t the only people you can call for help. Leading insurance lawyers like Virani Law can help you file the paperwork correctly and promptly, guiding you in a vital process right when you need it most. Insurance lawyers use their expertise in this field to advocate for your best interests with the insurance company directly. If you feel you are being overlooked or taken advantage of by the insurance company, call an insurance lawyer to help fight for your rights.
When you call the insurance company, they will dispatch an insurance adjuster who works for them and is therefore incentivized to minimize your claim. Insurance lawyers help clients recognize and avoid the insurance industry’s dirty tricks and can negotiate a higher settlement than they would otherwise obtain on their own.
Seeing your home engulfed in flames is devastating, but that’s not the end of the story. Home insurance will save the day, but you need to contact them right away and provide them with the information described above.
