Make an insurance claim

Consider this scenario: You have renters insurance, the premiums have been paid timely each month and you are the victim of theft. Time for the insurance company to pay on the policy, right? Well, maybe.

When you make an insurance claim, it helps to know what is covered as well as the conditions under which a claim can be made. For example, your policy could limit the dollar amount of coverage for electronics, jewelry could be excluded, and you may have to notify the police in case of a loss. Reading your policy and understanding your responsibilities before something happens is key to making a claim.

To make a claim, follow these steps:

1. Call your insurance agent to walk you through the process. Have your policy numbers on hand and file your claim as quickly as you possible.
2. Keep detailed notes and records or all conversations or correspondence.
3. If damage is severe (as in a hurricane or other storm), put a sign on your property with your address so that insurance adjustors, police and other authorized personnel can identify your property.
4. Make a list of all losses with photo or video documentation. Save any receipts for temporary repairs, materials or living expenses. Be accurate and honest.
5. Meet with the claim adjuster to walk through the damages. The adjuster will investigate the event to determine if the claim is payable and to what amount. Any settlement will be paid according to terms in your policy.

Keep in mind that you may need to provide an estimate of the cost to repair or replace stolen or damaged property. Although it often is easier, you do not have to use the insurance company’s recommended contractors for repairing or replacing your property.

 

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