12/11/2023
Hey there, Clarksville!
One of the insurance agents at Encompass Financial Services emailed me this quick blurb of things to be aware of, that you can take in into consideration in the unfortunate event that your home or business is affected by a major loss.
“When you have a major claim, a lot of pieces have to move in order to address it. Your insurance policy has some stipulations in it that outline the insurance company’s responsibilities, as well as your own. I’m just going to focus on things from the client’s perspective, for the sake of time.
First, let’s go over some of your responsibilities:
1. Claim Communication: You have a responsibility to notify your insurance carrier as soon as (reasonably) possible when you have a loss. You also have a responsibility to communicate honestly, promptly, and thoroughly to your adjuster throughout the claim process.
2. Documentation: You have a responsibility to document as much as you possibly can – this may include photos of the damage, receipts and estimates for repairs, and a complete list of items affected by the loss. If the loss is related to anything legal (theft, vandalism, or liability), you must notify police and obtain a police report within a relatively immediate timeline.
3. Loss Prevention: Many people aren’t aware of this, but you also have a responsibility to minimize the possibility of further losses – whether that be from further weather damage or even bodily injury. In situations such as catastrophic weather, broken windows could leave glass that may injure a service worker, and the open space may let rain water into the home that could damage flooring. An example of “loss prevention” would be to tape or board the window up, and to clean up the debris – if you have the means to do so safely. Most of the expenses associated with preventing further loss will be reimbursable by your insurance company, because it could ultimately save them more money in the long run.
Cutting to the chase, here are several tips to keep in mind to help get you through this situation:
1. In an ideal world, every homeowner, business owner, or tenant would keep a working inventory of their belongings before a major loss, which would make calculating a total for the damages much easier on the adjuster. (That’s a lot of work upfront, but it’s much more convenient on your schedule to keep a running tally before disaster strikes, rather than trying to calculate everything after the fact. Something to keep in mind for future reference!) Since we don’t live in an ideal world, we’ve created a spreadsheet that will help you itemize your losses, receipts, and any estimates that you might get to repair damage. If you are interested in a copy of this spreadsheet, please email [email protected] – there’s no obligation or cost to you whatsoever to receive this spreadsheet, and nobody will harass you or put you on a contact list.)
2. Your adjuster has a lot of work on his or her plate, and adjusters generally have to prioritize higher-risk losses. For example, a displaced family is going to take priority to address over a few shingles coming loose. If your loss is more minor or cosmetic, please try to be more patient with communication from your adjuster.
3. Insurance adjusters are people too! They are going to tend to respond better to clients who:
a. Communicate promptly – this includes responding to texts, voicemails, and emails
b. Provide all relevant or requested information upfront, and in a clean format
c. Are proactive in resolving the claim
d. Show them respect
4. If you own a business and your business is unable to generate revenue due to a covered loss, your business insurance policy may contain Business Loss of Income coverage to help out with the financial loss. If it does not, we strongly encourage you to ask your insurance agent about this.
5. For coverage questions, you are welcome to reach out to your insurance agent or your insurance company’s customer service department. However, your insurance agent is not going to be able to tell you whether a claim will pay out, how much, or when you can expect a check – until the adjuster has reviewed all relevant material and made a determination.
6. Stay positive where you can – it’ll make this situation easier for yourself and those around you. 😊”
