Getting Paid on a Claim

When you make a claim, it is important that you understand how to file that claim. Knowing in advance how to file and get paid can relieve a lot of the anxiety that is involved in the process.

Obviously the goal of filing a home insurance claim is to receive compensation, but some have this misconception that as soon as damage occurs to their home, they are going to make a phone call and a check is going to be sent. Unfortunately, it is not that simple. Although the claims process is not designed to be difficult, it is designed to be thorough. It is designed to ensure that the homeowner is compensated accordingly and that it is done at a reasonable amount of money.

Getting an Estimate

When damage occurs to your home, your home insurance agency may require that you have an estimate done on the damage. This is so they can compensate you for the right amount of money. They don't want to give you too much or too little.

The insurance company may choose the company to do the estimate. Yes, they want to resolve it at the lowest possible cost. They want you to still be able to obtain the repairs, but not for a lot of money. So an appointment will be made so that someone can come to the home and evaluate the damage that has been done. From there, the individual doing the estimate will send their official document to the insurance company and that is what they will reimburse for.

Don't be surprised if several companies come in to estimate the damages so that the insurance company can go with the lowest rate. And note that the person coming in and assessing the damage is specialized in their field. They may specialize in the repair of the type of damage that you have sustained or they may be an adjuster who is trained to assess and estimate damages.

Once all estimates are in, you don't have to accept the amount offered by the insurance company. You can tell them that you are not satisfied. Expect to have your own estimates done by a company that is not in agreement with the insurance company to show what others are showing in regards to estimates. Make your case as to why their proposed amount is not enough. You may be surprised at how convincing you are, especially if you can provide facts and figures regarding materials, as well as your own estimates.

Getting Paid

Once you have stated your case and you are offered a different amount, you can accept that amount. You simply tell the insurance company that you agree and they will then cut a check for the repairs. If the repairs are being done by a company, the check will be cut to the company.

However, the insurance company may do one of two things: They may agree with the contractors to do the repairs for a specific amount and that is it or they may have the contractors do the job and then the contractors send the insurance company the bill. If the second is the choice of the insurer, then the repairs cannot exceed a certain amount and that certain amount will be disclosed. The contractors will provide the insurance company with a detailed description of how the money was spent in making the repairs.

In the end, after getting paid on a claim the damage to your home can be fixed and you can go on with your life. The value of your home is preserved and you are not plagued with the damage that was done by an event that was in no way your fault.

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