Homeowners face an uphill battle to get back on their feet after enduring significant property damage. While ideally homeowners would like to get back to a sense of normalcy after disaster strikes, it can sometimes take time to fully understand the scope of the damage and report a loss. However, insurance adjusters and insurance claims lawyers recommend notifying your insurance company as soon as possible after the damage occurs.
Why Wait to Report a Loss?
Homeowners might hesitate to report a loss for several reasons:
- They may worry about how the loss will affect their insurance rate
- They may consider the costs of doing some of the repairs themselves
- They may not understand the process of filing an insurance claim
- They may not understand what their insurance policy covers
Policyholders are urged to act quickly after experiencing property damage because there may be numerous deadlines in the course of resolving a claim that could hurt their case should policyholders miss these deadlines. The first step in any property damage claim is to notify insurers a loss occurred. The sooner this takes place, the sooner you’re looking to receive a settlement.
How Do I Know How Much Time I Have to Report a Loss?
It can be difficult to assess how much time you have to let your insurer know that you’ve suffered a loss. Many insurance policies are open-ended, requiring “prompt” notification or asking insureds to report damage “as soon as possible.” You should always check your policy or contact your insurance company for clarification.
Ideally, the sooner you alert your insurer to the damage, the more time the company has to review the incident while the evidence is fresh and available. The sooner a claims adjuster can review the damage, the more fairly they can assess the damage and issue a settlement. It is also wise to get a public adjuster on your side to evaluate the damage after it takes place.
Tips Following Property Damage
Your insurance company may be responsible for covering the immediate property damage that wrecked your home or business, but you are responsible for mitigating further losses while you wait for the insurance company to resolve your claim. You may need to make quick repairs to prevent further damage to your property.
If a powerful storm caused the damage, be sure to exercise storm safety measures. Report down power lines, gas leaks, and other hazards to the appropriate parties right away. If there is water damage inside your property, turn off the main water supply.
Don’t hesitate to contact a Vero Beach property insurance lawyer at any point in the claims process to advance your claim. Insurance companies may deny perfectly valid claims for seemingly any reason, or settle for less than the value of the claim. Don’t settle for less; contact William Terry of William Terry P.A. at (772) 217-6600 or reach out to our firm online for a free consultation.