An Insight Into Home Insurance Claim Strategies

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Home damage can potentially cost a lot to repair. Therefore, whether your claim is straightforward or complex you want to understand the right home Insurance Claim strategies to use. Some claims can be more complicated than others. For instance, in the case of flooding the type of damage can be hard to assess and repair and the claim may take longer than usual.

 According to the Association of British Insurers “water damage is claimed most often and accounted for over 30% of home insurance payouts in 2018.”

Any incident that causes damage to your home can be potentially stressful and having a home insurance policy is only half the battle. Knowing the best Home Insurance Claim Strategies and how to properly proceed with a claim is the other half. One of the general Home Insurance Claim Strategies is that the more documents such as receipts for items claimed and photographs of damage you gather the smoother the entire process will go. Another is always contacting the authorities and obtaining a report if the claim is the result of a crime like a theft. Also, make sure you have a copy of your policy and that you know what is covered and what isn't.

What are the most common home insurance claims?

The weather has become more unpredictable lately with stronger storms due to climate change and storm damage claims have increased but flooding, including burst pipes, is still the most common home insurance claim.  Others include fires, most often kitchen fires, accidental damage and burglary.

Water damage claims are common especially in colder months as pipes can freeze and burst releasing water. Keeping up good maintenance of the home is important so that the insurance company doesn’t deny your claim based on improper upkeep. Accidental damage, such as party guests ruining your carpet, usually requires the right type of coverage so if you claim for it make sure it is included in your policy. Accidental coverage is not usually a part of standard home policies.

Theft is included in any standard policy, but the correct Home Insurance Claim Strategy would be reporting it to the police promptly. Your insurer will need their report or reference number so make sure you have those details when you file. Fire claims are also common home insurance claims but can get complicated because of smoke damage which is not immediately noticeable and therefore can be difficult to assess. Engaging a Loss Assessor in those cases to help you properly assess all damage before you file is always a good idea.


How long do home insurance claims take?

Home claims can take anywhere between a few days to a over a year to settle and for this reason it is pivotal to adopt the correct Home Insurance Claim Strategies in order to ensure the claim is settled correctly and quickly. For larger claims an adjuster will need to inspect and investigate the damage, which can take more time. It can also be potentially uncomfortable for the claimant as they can be made to feel more like a suspect than a victim. The time a claim takes to settle depends on several factors but mostly it is the type of damage that determines it.

Certain types of damage such as water damage or smoke damage are more difficult to repair and there may be differences of opinion as to the value of such claims. Properly assessing the value of your loss is not always straightforward and it is this assessment before you file that’s the key strategy to a successful home insurance claim.

There is no way to know for certain how long your claim will take. However, engaging a Loss Assessor like Oakleafe Claims can shorten this time considerably since they are familiar with all types of claims and can make this process much smoother. Upset over a loss may prevent you from being accurate in your claim but a professional loss assessor will pay attention to these details and adopt the correct Home Insurance Claim Strategies, making it much less stressful for you.

What do home insurance adjusters look for?

What insurance company adjusters look for is whether the damage is covered by the policy in the first place and if there are any signs of fraud. Being honest in filing your claim and not exaggerating its value is important but you also do not want to under value your claim. A professional loss assessor can be of great help here as well since it is their job to know how to accurately assess your loss.

Filing the claim within the time specified and following procedures are good Home Insurance Claim Strategies for decreasing the risk of the claim being denied. Home insurance claims are still the most likely to be rejected among all types of insurance. This is mostly due to lack of appropriate coverage which is why it’s so important to know what your policy includes.

Another thing to keep in mind is not to organise home repairs before the loss adjuster has a chance to see the damage. The only immediate repairs you need to make are ones that prevent further damage to the home such as temporarily covering any damage to the roof. When the insurance company’s loss adjuster visits your property, they will need to be made aware of any immediate repairs done.

Does making a claim affect home insurance premiums?

Making any home insurance claim will typically raise your insurance premiums by 10-15% the following year. It’s also important to remember that you have to pay your set excess towards any claim at the time you file it. How much excess you pay depends on the terms specified in your policy.

Sometimes if the claim is small, such as a broken window, it may not be worth filing at all since the premiums will increase for any size claim filed and you may pay much more because of the increase than the claim is worth. Home insurance works best for larger claims, where the cost of repairs is much more than you could afford at the time.

Conclusion

Filing any home insurance claim can sometimes be a difficult process but knowing Home Insurance Claim Strategies can simplify it. Following procedures, filing on time and having the right kind of professionals on your side can make any claim hassle free. Having proper documentation is a proven home insurance claim strategy and the more there is of it the better.

Of course, you want your claim handled as quickly as possible and hiring a loss assessor can help to that end. If you follow these simple Home Insurance Claim Strategies your next home insurance claim will not cause any unneeded stress.