Should I File a Property Damage Merits? Iii Questions to Aid You Make up one's mind

homeowner talking to someone on the phone about whether they should file a claim homeowner talking to someone on the phone about whether they should file a claim

Homeowners insurance tin can protect you from the unexpected. If your home is damaged or your belongings are stolen, it tin can assist cover repairs or replacement, temporary housing and more. For example, if a tree falls through your roof, yous'll probable file a holding harm claim nether your homeowners policy. But what if you accept an incident where you're non sure whether to file a merits? You might non know what is covered under your policy or whether your policy volition cover all of the amercement. Here are three questions to help yous decide what to do side by side.

Is My Loss Covered Under My Policy?

According to Jim Wucherpfennig, Travelers Vice President, Claim Holding Product, understanding what acquired the damages to your home or belongings and whether that impairment is covered is key to determining whether to file a property insurance merits. Statistics compiled by the Insurance Information Establish (III) evidence that wind and hail damage is the nearly common homeowners claim.

Your insurance policy sets forth what is covered and to what extent, then read your policy documents carefully. Once yous sympathise how the damages were caused, you can explore if information technology might exist covered under the policy. Some common causes of damage to your home, belongings and property include wind, hail, theft, burn down, vandalism and water (burst pipe). Typically, flood, normal habiliment and tear, and earth movement are non covered by a standard homeowners policy.

What's My Deductible?

Although you may have a covered loss, the toll of the amercement may not exceed your deductible, so you lot may non want to file a merits. Small damages, such as if a few roof shingles blew off in a windstorm, volition often cost less to repair or supercede than the total amount of your deductible. Generally, if you lot decide to file a claim that is paid, then your deductible will be subtracted from the corporeality of your covered loss.

Are There Special Policy Limits That May Employ to My Loss?

Payment for harm to certain types of property may have a special limit that applies to that type of property. For example, jewelry, comic books, collectibles or other valuables, may be express. These sub-limits could be less than the total amount of damage to that belongings. This is something to consider when thinking near whether to file a claim.

If You lot Decide to File a Merits

If yous have decided to file a claim, y'all'll desire to notify your insurance visitor as promptly as possible. Getting the procedure started will permit your insurance company to assistance you faster. In the concurrently, if you make temporary repairs, you should proceed a copy of all receipts and provide them to your Claim professional.

If you lot're reading through your policy and are confused about what'due south covered, know that you're probably non alone. "Am I covered for this?" is typically the number one question asked past customers. And then if yous are also struggling with this question, ask your insurance company to help with the answer.

If you're a Travelers customer and you lot don't know whether to file a homeowners claim, contact u.s.a..

More Set up & Prevent