3. Mitigating Further Damage
by Admin
Posted on 26-06-2023 07:15 AM
Many are shocked to
find
out that it is their responsibility post-storm to protect their property from any further damage. Failure to comply with this obligation could result in denial of coverage.
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Below are just a few points that may need to be addressed in order to fulfill this obligation:
hiring security guards to protect the property
demolition of damaged building components – if proven to be unsafe
boarding up windows, doors, entryways
mitigating any water damage or mold by removing carpeting, drywall, etc. Relocating to a temporary location.
5. Understanding Your Policy
We supplied tips for water damage insurance claims process in florida; however, here are the key bullet points if you are in a rush:
water damage claims must meet requirements of standard home insurance policies, such as needing to be sudden or internal with no ground contact. Homeowners should know three types of water damage commonly covered: sewer/water backup, overflow and discharge, and flood. Gradual damage from things like seepage, lack of repair, and poor repairs typically won’t qualify for coverage. Before filing a claim, homeowners need to document the damage with photos/videos and keep any damaged items as evidence.
There's no doubt water is powerful. It can create spectacular waterfalls and carve exquisite canyons — hopefully not in your living room. Most people don't realize that even just a few inches of water can cause tens of thousands of dollars in damage to a home. Unfortunately, not all water damage is covered by a homeowners insurance policy. Understanding the limits of your insurance policy, as well as the risks of water damage and how to prevent it from happening, can help ensure you have the coverage you need — no matter what happens.
There are no hard-and-fast rules around rate hikes. What one company forgives, another won't forget. Because any claim at all may pose a risk to your rates, understanding your policy is the first step toward protecting your wallet. If you know your first accident is forgiven or a previously filed claim won't count against you after a certain number of years, the decision of whether or not to file a claim can be made with advance knowledge of the impact it will or won't have on your rates. Talking to your agent about the insurance company's policies long before you need to file a claim is also important.
When it comes to making a successful water damage insurance claim, you must understand the rules of the process. You wouldn’t ever try to play a game of chess without understanding the rules, as quite simply, you would lose very quickly, and the same applies to insurance claims. Before you commence the process, read everything and ensure that you have a firm understanding of all that is required of you. Often when you try a make a claim, insurance company staff will quote a specific part of the policy, which invalidates your claim. However, these can often be standard rebuttals, and the part of the policy being quoted by the insurance company staff member may not even form a part of your policy.
6. Know Your Policy Coverage Limits
Each type of coverage has a dollar limit. Make sure you have enough coverage to replace your home and property if you have a total loss. If you don’t have enough coverage, you’ll have to pay the difference yourself. Most companies require you to insure your house for at least 80% of its replacement cost. Some companies require you to insure your house for 100% of its replacement cost. The first page of your policy is the declarations page. It has a summary of your policy, including your coverages, dollar limits, and deductibles.