Three Things to Know About Filing Homeowner's Insurance Claims

When you own a home, you need to make sure that you have homeowner's insurance to protect your home. Homeowner's insurance is a great way to protect your investment; you just have to know how to use it when something goes wrong.

#1 Learn How Long You Have to File a Claim

There is a time limit for you to file a claim following the incident that caused the damage. The time limit varies based on what caused the damage, so be sure to talk to your insurance company ahead of time and learn how much time you have to file a claim after an incident.

#2 Don't Wait to File a Claim

Keep in mind that it is best to file a claim as soon as possible. Filing a claim as soon as you can after the damaging incident ensures that you get your claim in within the necessary time-frame.

Additionally, you don't want to wait too long and lose out on benefits. If you wait too long, and that wait makes the problem worse, all of the damage may not be covered. For example, if you have water damage in your home and you don't do something about it right away, and then mold shows up, the mold remediation may not be covered because you didn't report the incident right away and allowed the issue to get worse.

#3 Keep Good Records

When a damaging event, or lose, occurs, you need to make sure that you keep good records. Take pictures of the damage as soon as it occurs, then take pictures of anything that you to do mitigate the loss.

Don't just take pictures, write everything down as well. Write down the date and time the event occurred, and all the actions that you took after that. For example, you should write down any phone calls you made, any appraisals you got, anything you had to purchase yourself.

The more records you have of the event and all of the actions that you took to stop further damage from occurring, the stronger your claim will be. Remember to save all paper documents the event generates, such as receipts and contracts.

You need to know when to use your homeowner's insurance. Get a list of covered events and how long you have to report them from your insurance agent. When damage occurs, call your insurance company as soon as possible, and keep good records of everything that you do to deal with the damage.