It can be alarming when a natural disaster of any kind strikes. But after it’s over, the victims are frequently left wondering how to pick up the pieces. Is there anything they should do to ensure that their insurance claims are processed quickly and thoroughly? This is crucial for people who lost everything and had their homes destroyed. Even though disasters typically happen without notice, there are various ways that you can protect your cash and property both before and after they happen.
What Should You Do?
Whether you have owned a home for a short time or many years, you presumably want to be able to pay to rebuild or repair it in the event of a disaster. The first step in planning for natural disasters is comprehending your insurance coverage’s scope. If you live in a region with frequent hurricanes or floods, you may be in danger because homeowner’s insurance policies do not include flood insurance. Many homeowner’s insurance policies have exclusions, and some coverage types would need to be added by obtaining an endorsement or a separate policy. In high-risk locations, earthquake coverage is a distinct policy rather than a standard house insurance endorsement. One of the most crucial actions you can do to prepare for a natural disaster is to understand what is and isn’t covered by your homeowner’s insurance policy. Before a calamity strikes, speaking with your agent and examining your homeowner’s insurance coverage may make you feel better prepared.
If a natural disaster impacts you, you can use these steps to take back control of your life and begin to rebuild it.
Ensure Everyone is Safe
Following a crisis, your family’s health and safety should be your top priority. Every family member should have an emergency kit, and you should be aware of where valuables and essential documents are kept.
If you need to leave quickly, a battery-operated or hand-cranked radio is an excellent tool for locating nearby shelters and medical facilities so that you know where to go. Make a plan for your dogs as well. It is probably unsafe for them to stay in your home if it is dangerous for you to do so. Making a list of pet-friendly shelters in advance is advised because not all shelters accept animals. You should put together an emergency bag for your pets with food and other needs, just like you would for your human family.
Assess the Damages
You will need to evaluate the condition of your house and determine whether it experienced any damage once you and your family are secure and can return to it. You must be ready to talk about the scope and gravity of the harm you have sustained, even if it may be upsetting. Try to take pictures of your damage if you can. While taking photos and videos is a terrific idea, it will eventually be essential to create a list of the things that were harmed by the disaster. Depending on the nature of the natural disaster that occurred, your home may sustain several types of damage. While earthquakes can create fractures and damage your walls or foundation, hurricanes are more likely to damage the roof.
File a Claim with Your Insurance
You should submit a home insurance claim as soon as possible if a natural disaster damages your property. Include pictures and supporting evidence for your claim. You can call your insurance provider and tell them your home is damaged. A claims adjuster from your firm will perform a more detailed inspection of the property.
Refrain from throwing away any damaged items before your insurance adjuster can assess the situation. It’s as though it doesn’t exist if they don’t see it. Always make an effort to be present when someone comes to examine your property, so you know what they looked at and can be confident they didn’t miss anything. Take plenty of pictures during the inspection.
Find a Contractor and Begin Repairs
Depending on the scenario, you might need to perform temporary repairs to safeguard your property or remove the threat of additional harm. For instance, you might need to apply a tarp over a hole in the roof to keep the rain out, or you might need to fix a door that has been blown off its hinges to protect the house from burglars.
After receiving approval from your insurance provider, you should rebuild or perform long-term repairs. Once the go-ahead has been given, you should perform these repairs as soon as possible to prevent additional damage that your insurance policy might not cover. It would help if you waited to make these repairs until the insurance company had evaluated the damage. Get as many quotations as possible for any required repairs, and watch out for contractors who suddenly boost their costs when there is much demand. Use only regional, insured, bonded, and licensed contractors.
Keep a record of correspondence with the contractor, and take pictures of the repairs. Make sure that any agreement is written down, including the initial contract to hire the contractor and any later adjustments or revisions.
Track Your Expenses
Take care of emergency repairs as soon as possible, but save all your receipts and invoices. If an insurance adjuster comes to inspect your house, have a secure location where you can store these until your insurer needs them, and discuss any actions you have previously taken.
When planning for an emergency, you can speak with an agent to see if you have coverage for emergency repairs and living expenses while you are away from home. Additional living expenses coverage is the element of your insurance that can cover these charges. It can assist you in covering costs for temporary housing, such as a hotel, as well as other expenses that might arise while you are relocated.
The many benefits and privileges granted to disaster victims are another factor many overlook after the fact. If you had insurance, your provider could negotiate exceptional savings on your behalf, thanks to their connections with other companies. You can also qualify for insurance benefits to help with additional living costs.
You might also be eligible for catastrophe tax deductions. In some cases, public and private groups can provide you with further financial aid. Ask your lawyer, insurance adjuster, and insurance provider about these programs, and conduct independent research. You can seek catastrophe loans to pay for rebuilding and living expenses while you get back on your feet.
To learn more about your home insurance coverage, give Hometown Financial Group a call today!