Although filing a property insurance claim can be a significant, life-altering moment in your life, it is just routine business for your insurer. When you file a property insurance claim, it is important to remember that you are entering into a business negotiation, which means you need to treat this process like you would any other business transaction involving large sums of money. Below, we explain what you need to know about filing a residential property claim so you know what to expect from the process and how to protect your interests.
Residential Property Insurance Policies
Most residential property insurance policies offer the following:
- Ordinance: This coverage applies if building codes are enacted after your home was built that require you to add additional features that weren’t covered at the time of your loss.
- Additional Living Expense: This coverage pays for cost of living expenses at a temporary location if the covered damage to your home makes it unlivable. This includes things like hotel bills, rent, and other increased costs of living you incur while your home is being repaired or rebuilt.
Dealing with Insurance Adjusters
Whenever you have to file a property insurance claim, you want to make sure that the insurance company sends a licensed adjuster to inspect your property and interview you. If an adjuster shows up at your property, ask for a business card that has their first and last name and all of their license numbers. You should also write down their name and the specific reasons they said they are visiting your property.
Insurance adjusters will try to push you to sign various documents pertaining to your policy and claim, which is why you should be cautious and consult with an experienced attorney to make sure your best interests are fully protected.
Do you need help filing an insurance claim for your residential property? Call (203) 583-8299 to schedule your free case consultation with our real estate lawyers in Waterbury.