Filing an insurance claim can be a daunting process, especially when you’re dealing with the aftermath of a disaster or a significant loss to your home. The last thing you want is to make mistakes that could jeopardize your chances of receiving a fair settlement. In this blog post, we’ll delve into some common insurance claim mistakes homeowners make and discuss the valuable role of a public adjuster in avoiding these pitfalls.
Procrastinating on Reporting the Claim
One of the most common mistakes homeowners make is delaying the reporting of their insurance claim. Some policyholders assume that they have plenty of time to file, but waiting too long can lead to complications. Many insurance policies have strict deadlines for reporting claims. Failing to report promptly may give the insurance company reason to deny your claim. To avoid this, report your claim as soon as possible after the incident. Most insurance companies frequently advertise that they should be called first, but do not be fooled! The correct first step is to call a trained professional from Trusted Public Adjusters Inc. Without the knowledge of a public adjuster assisting you from the very start will impact the overall recovery on the claim.
Inadequate Documentation
Insufficient documentation is another common mistake. After an incident, take detailed photographs and videos of the damage. Document everything, from structural damage to personal belongings. As the saying goes, if there aren’t pictures then it didn’t happen. Keep all receipts related to temporary repairs and expenses incurred due to the incident. By calling TPA first, your public adjuster will make sure to document the property in detail and collect all pictures and documents that you might have.
The more evidence you have, the stronger your claim will be.
Underestimating the Full Extent of Damage
Homeowners sometimes underestimate the true cost of repairs or replacement, which can result in receiving a lower settlement than needed. It’s crucial to get multiple professional estimates to ensure an accurate assessment of the damage. A public adjuster can be particularly helpful, as we have experience in evaluating property damage and can negotiate with the insurance company on your behalf. Trusted Public Adjusters has over 14 years of experience in the insurance claim industry.
Not Reading and Understanding the Policy
Who wants to read all the mumbo jumbo? Unfortunately, many homeowners fail to thoroughly read and understand their insurance policies and we know they can be complex and filled with jargon, making it challenging to know what is covered and what is not. To avoid surprises, take the time to read your policy and seek clarification from your insurance provider if needed, better yet we can also assist in interpreting the policy terms to ensure you get the maximum coverage you’re entitled to. Our job starts when you first purchase your policy; Correct coverage is everything!
Making Recorded Statements Without Guidance
Insurance companies often request recorded statements from policyholders during the claims process. While it’s essential to cooperate with your insurer, making a recorded statement without proper guidance can be risky. The words you choose may inadvertently affect your claim negatively. We can help you prepare for and navigate these statements, ensuring you provide accurate information without compromising your case.
Settling Too Quickly
Insurance companies may offer quick settlements to minimize their payouts. Accepting a settlement before fully understanding the scope of your losses and future expenses can be a costly mistake. A public adjuster can help you evaluate whether the initial offer is fair and negotiate on your behalf for a more advantageous settlement.
Filing an insurance claim can be a complex and intimidating process, but avoiding common mistakes is crucial to securing the compensation you deserve. Trusted Public Adjusters are always here to help you!