Be sure to take steps before the hurricane to protect your property
Most states in the southeastern United States are prone to be hit with hurricanes. In recognition of that fact, homeowners should pay special attention to their homeowner's insurance.
Homeowners should know exactly what their insurance policy covers. The traditional homeowner's policy does not cover flooding. You can only purchase flood insurance through the national flood insurance program. In addition, there is typically a 30-day waiting period before flood policies take effect, so homeowners should buy their insurance well in advance of the hurricane season.
Proper Documentation is Necessary
Homeowners should keep proper and adequate documentation. This documentation should be kept away from the home in secure places such as a safe deposit box or in the cloud through your computer or smartphone.
Homeowners should create a home inventory by going room to room and writing down the brand name, description, estimated value and date of purchase of items in your home.
Homeowners should compile and keep receipts, appraisal documents, serial numbers and other information concerning the contents of the home.
Videos should be taken of the belongings.
All of the above items should be kept in a safe place away from the insured home itself.
After a disaster, an insurance company will insist on proof that you actually owned the property which has been damaged. The insurance company will require you to prove the value of those items before they will reimburse you for them.
Homeowners should have a "replacement cost" insurance policy which will provide funds for the actual replacement of items which have been damaged. Without a "replacement cost" policy, the insurance company will only pay the depreciated value of your items. Unfortunately, the “actual cash value” for used furniture and appliances will be heavily depreciated and the insurance company will only pay you a small fraction of the "replacement cost".
Even with a "replacement cost" policy, most policies require the homeowner to buy and pay for the replacement of destroyed items before the insurance company will reimburse the homeowner for the value above the “actual cash value”. The “actual cash value” is the value the insurance company places on an insured item after deducting the depreciation
When a homeowner's home has been damaged heavily by a hurricane loss, dealing with the insurance company can be difficult and emotionally taxing exercise.
In most cases, homeowners should have the assistance of a public adjuster or an attorney to help with an insurance claim. Insurance adjusters who work for insurance companies can be very difficult to deal with.
It is important to collect the full amount of the claim from the insurance company.
Raleigh Insurance Claim Lawyer and Bad Faith Insurance Attorneys
At Brent Adams and Associates we have spent the last 40 years helping homeowners collect the full value for their insurance claims.
Call us at Brent Adams and Associates (910) 888-8888 for a free no-obligation telephone call to discuss your insurance claims.