Home insurance is a crucial and wonderful investment, especially if you know how to use it. If you don't, paying monthly for something that you will never file a claim on can feel like a waste of money. Here are a few tips to ensure that you will have the coverage you need when you need it most.
Know What Coverage You Have. If you are unaware of what your homeowners insurance covers you will not know to file a claim when you need one. For example, imagine that you have just taken your 15 year old out on the road to teach them to drive. You were quite surprised by how easily they seemed to take to the wheel, that is until they drove right through your garage door, taking out some of your siding with it. Off the top of your head, do you know if you are covered? Another example is if one of your windows were to be broken by hail. How would you respond? Depending on your insurance coverage, one or both of these examples may or may not be covered. Read your insurance policy in depth or ask your insurance rep in order to understand what you are paying to cover.
Know How To File A Claim. The next step is to know how to file a claim should you need one. The first step in filing a claim is to document the accident with pictures and text in order to prove your case. The more you can document, the better. You are basically trying to prove that this incident occurred despite your best efforts to protect your home. You should then call your insurance company with your policy number and report the damage. They may send out an insurance adjuster in order to verify the facts and make sure that there really is a problem. This is done because some people try to file fake claims, saying that they need reimbursement for damages that have never occurred. This is fraud and should obviously never be done.
Pay Your Deductible. The final basic step to getting your claim paid is to pay your deductible. Not every insurance policy will have a deductible, but if you have one, that is the amount you must pay before the company will pay out what you deserve. That being said, it is important to weigh what will be more expensive: your deductible or fixing the damage on your own.
For more information, contact your homeowner's insurance company.