Survive and Submit a Personal Property Insurance Claim

Category : Insurance

Nobody wants disaster to strike. Few people are emotionally or psychologically ready to cope with the aftermath. But many people have home insurance policies that cover their personal property.

This coverage only works if you file a claim, which might not be high on the list of what you want to think about after a fire, flood or earthquake has damaged or scattered your possessions. But if you want that insurance check, you'll have to work for it, and soon. Here are some helpful tips to remember during that difficult time.

Understand this: your insurance claims adjuster and salvage professionals are not part of your support system.

Unless you hire a public adjuster, the insurance company will send you one whose (bonus-driven) job is to save them money. Salvage professionals, if hired by insurance, might offer extravagant services. Insurance won't appreciate the charges if you accept too many of these services.

Survey the damage to your home's contents as soon after the event as possible.

Take a room-by-room, area-by-area inventory. List every little thing you can remember. Looking at recent photos will help. If the photos include valuable items that have been damaged, destroyed or lost, include them with your report.

The experts say to keep your receipts on file, but no one has receipts for all those little, everyday things lying around the house. Still, you should claim them. Find any receipts that you have. For all other items, research what it would cost to replace them. This can be a huge task. Be patient and persevere.

Make a comprehensive list and tally of all items and costs assembled. This can also be a huge task, not unlike preparing your income tax return. Take a deep breath and soldier on.

Explain any unusual circumstances in writing
Focus on apparently worthless things that are actually of great value, unusual items that a claims adjuster might dismiss out of hand, and anything that's missing. This is where photos will come in handy.

Present your adjuster with the report you assembled
Be prepared to defend your reasoning, but choose your battles carefully. Since the adjuster's mission is putting the lowest possible value on your claim, he'll expect a few compromises from you, too.

Even after your report satisfies the adjuster, she has to take it back to the insurance company. Wait until the company sends you a letter officially accepting your claim. Then you can celebrate and get on with rebuilding your life.