How to Survive and Submit a Personal Property Insurance Claim
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 or contents of their home. 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 will have to work for it, and soon.
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Instructions
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1
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.
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2
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.
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3
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.
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4
Make a comprehensive list and tally of all items and costs assembled in Steps 2 and 3. This can also be a huge task, not unlike preparing your income tax return. Take a deep breath and soldier on.
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5
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.
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6
Present your adjuster with the report you assembled in Steps 4 and 5. Be prepared to defend your reasoning, but choose your battles carefully. Because the adjuster's mission is putting the lowest possible value on your claim, he will expect a few compromises from you, too.
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7
Wait until the company sends you a letter officially accepting your claim. Then you can celebrate and get on with rebuilding your life.
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Tips & Warnings
The insurance company technically owns the damaged items for which it pays you. The adjuster probably won't take them away for resale, but he may threaten you with the possibility.
Understand the difference between the actual value of a damaged or lost item and its replacement value at current prices. Read your policy to see which amount insurance will reimburse.
If you care about any of the photos you plan to submit with your claim, make copies for your report. You will probably never see them again.
Prepare to take a loss on things with emotional value. For instance, that lovely handmade quilt might only be worth whatever you'd spend on fabric and thread to make another one.
References
- Photo Credit Hemera Technologies/AbleStock.com/Getty Images
