Auto Insurance Claims

Before You Have a Claim Be sure you know the answers to these questions before you have to file a claim:

At the Scene

Home Insurance Claims

Before You Have A Claim

Be sure you know the answers to these questions before you have to file a claim:

• Is your home insured for at least 80 percent of its replacement value? (If you have less coverage, you may not be fully reimbursed for any partial damage.)
• Are your belongings insured for actual cash value (replacement cost of an item minus depreciation) or replacement cost (the amount it would take to replace the item at current prices)? Most policies provide compensation on an actual cash value basis rather than a replacement cost basis. Talk with your agent to determine whether purchasing replacement cost coverage is worth the extra premium.
• What liability coverages are provided in your homeowners policy? If you have questions, now is the time to ask your insurance representative for answers.
• What amount of medical payments coverage is included in your homeowners policy? This type of coverage pays for medical expenses of a guest injured in your home, regardless of fault. A medical payment claim begins, as do others, with a call to your insurance representative.

• Report any burglary or theft to police.
• Phone your agent or company immediately. Insurance policies place a time limit on filing claims. Ask questions. Am I covered? Does my claim exceed my deductible? (Your deductible is the amount of loss you agree to pay yourself when you buy a policy.) How long will it take to process my claim? Will I need to obtain estimates for repairs to structural damage?
• Follow up your call with an explanation of what happened in writing, at the request of your agent or company.
• Make temporary repairs and take other steps to protect your property from further damage. Save receipts for what you spend and submit them to your insurance company for reimbursement.
• Prepare a list of lost or damaged articles. Save receipts from any additional living expenses you incur if your home is so severely damaged that you have to find other accommodations while repairs are being made.
• Provide needed information to the insurance representative assigned to handle your claim.

Talk things over with your agent and adjuster if you are dissatisfied with the settlement offer. Check your policy to see what settlement steps it outlines.