Property insurance claims can be tricky! Insurance companies require you to navigate a maze of paperwork and policy fine print, just to receive the compensation you’re entitled to. Any misstep along the way, and you can end up getting smacked with a claim denial!
As public insurance adjusters, we negotiate property insurance claims every day on behalf of our clients. Property owners often make mistakes when dealing with insurance claims, here are 4 of the most common:
Not Reading the Policy Details
Have you ever actually read through your insurance policy? If you answered no, you’re not alone. Unfortunately, this is one of the most common mistakes property owners make. Coverages may be misleading – wording can be vague and include causes for denial that you may not be aware of.
Not Selecting the Right Coverage
Are you sure that you’re covered adequately? Insufficient coverage is a huge reason that many property claims are denied. Take the time to review your policy in detail. The time to find out that your policy does NOT cover everything you thought it did is before a disaster strikes, not after.
Failing to Document Items / Possessions Ahead of Time
We’ve said this before, but we’ll say it again – in addition to documenting damage after a disaster, it’s vital that you document and take inventory of all the items in your property BEFORE a disaster strikes. Without this evidence, it can be almost impossible to recover the true value of all items that were damaged or lost.
Not Following Up on a Claim
Follow up is key! Lack of communication from either the insurer or the property owner can cause issues with the claim. Stay on top of it! Make sure you’re providing all documentation and paperwork required in a timely manner to avoid any delays or issues. If your insurance company is dragging their feet – call them! Make sure they know that you are not going anywhere, and that your claim is a priority.
Have questions about your property insurance claim? Feel free to contact Stark Loss for more information about how a Public Adjuster can help.