When your home suffers extensive damage, having an insurance policy through a place like Hackett Valine & MacDonald Inc can be the only way to protect you against these expenses. However, if you have limited experience with filing these insurance claims, you may be unsure of what to expect from this process. For those that have never filed an insurance claim, having a few basic concerns addressed will make this process less confusing and intimidating.
What Happens When The Insurance Adjuster Visits Your Property?
One of the first steps in this process will be for the insurance adjuster to visit your home and inspect the damages. During this visit, the adjuster will take detailed notes and pictures of the damage as well as ask you questions about it. Typically, the adjuster will be able to complete this inspection within a couple of hours, but the exact time will vary based on the extent of the damage as well as the size of your home.
Will You Receive The Full Value For Your Home If It Is Completely Destroyed?
In extreme instances, your entire house may be destroyed or too damaged to be repaired. In these instances, it is important to understand that the amount of compensation you receive will largely depend on the details of your policy. For example, there are many homeowner's insurance policies that provide market value for the home. This compensation will consider the depreciation of your home's value, and as a result, you may not receive enough to fully replace your home. To ensure that you get the most compensation possible, you should make sure that your homeowner's insurance policy uses replacement value.
How Will You Pay For Lodging While Repairs Are Made?
During the period of time where your home is being rebuilt or repaired, it may not be possible for you and your family to remain in the home. Not surprisingly, this can be a tremendous source of stress for those that are concerned about paying for lodging during this process. Luckily, your insurance policy likely includes additional living expenses coverage. This is a type of protection that is designed to pay for your accommodations in the event that your home is not habitable for extended periods of time.
Filing a homeowner's insurance claim can be complicated but necessary for recovering the financial losses that damages to your home may cost. By understanding what you should expect when the property is being inspected by an insurance adjuster, the difference between market value and replacement costs as well as the fact that your policy may pay for your lodging expenses, you will find yourself better positioned when filing your insurance claim.