Does anyone have Home insurance? Can anybody know how to claim it?
Total Comments: 11
Posted: Tue Sep 11, 2007 11:04 am Post Subject: Don't file a claim for the sake of inquiry
Wilson, have you faced any such situation? I'm asking because, even if you enquire about a claim the insurance company will consider that as a claim and will count it later accordingly. This may even affect your premium as well as your insurability.
Posted: Tue Sep 11, 2007 11:08 am Post Subject: Contact your insurance agent
Your insurance agent can be your mentor and guide when you need to file a home insurance claim. If you suffer from a damage and need to file a claim with the insurance company, contact your agent. He will be able to guide you through the claim process. Along with document the damages, it will help you in establishing your claim before the insurance company and if required before the court of law.
Regards, fatman
Posted: Tue Sep 11, 2007 11:34 am Post Subject:
Wilson, Joshua is absolutely right in what he said about filing a claim. Well if you are required to file it anyway, you may have to opt for the following course of action:
1. First and foremost inform your insurance immediately after the disaster. Also inform your agent. Ask them about the steps to file a claim.
2. Make an account of the damages. If possible make a video of it. Also compile a list of the household items you have lost during this event. It always helps if you maintain an inventory list and time-to-time inform your insurance company about any valuable purchase.
3. Don't make any permanent repair….at least before the insurance adjuster comes and assess your damages. The insurance firm can even turn down your claim if you repair your home without their prior consent. Make only temporary repairs if necessary.
Hope this information will help you.
Juanita
Posted: Tue Sep 11, 2007 12:58 pm Post Subject:
Contact your agent or your insurance company directly and report your claim. If it is a small claim that is less than your deductible and doesn't include anyone else (someone falling in your house for example). Then you may not need to file a claim at all (if less than your deductible).
Typcially your adjuster will contact you quickly go over the facts of loss and tell you what they will need from you if anything. They may send their own adjuster out, they may need some proof of loss forms completed, it all depends on the loss.
Agree do not completely fix anything, but you do have a duty to mitigate your damage, so if you need to do some clean up, take pictures first.
If you could expand your question, I'll bet there is all kinds of help just waiting to assist you.
Posted: Tue Sep 11, 2007 04:48 pm Post Subject:
Hi,
First of all, if you could provide us some details as to what kind of loss you suffered, it would give us the additional information necessary to make sure you stay on the right path.
Secondly, under the "old" way of doing things, if you submitted a claim and for whatever reason the coverage didn't apply (under the deductible, coverage didn't exist for the loss, etc.) it could easily affect your potential future insurability (non-renewal or cancellation of the policy) or your rates. Keep in mind that homeowner losses will NOT normally affect your premiums like car insurance would.
Under the "new" way of doing things, many states currently have laws on the books that prohibit insurers from taking action on a policyholder if the claim is not payable for any reason. So...let us know the state that you are in and we can point you in the right direction!
In closing, there are many potential pitfalls out there surrounding property claims, and the senior posters answering your question are right on target. Make sure that you:
1) Keep a running documentation list of everything that occurs during the processing of the claim.
2) Keep your property from suffering any further loss (there is coverage in your policy that will pay for "removal" or reasonable costs that you incur to keep your property safe from further harm).
3) Are prepared for a lengthy settlement process if the claim involves a fire or high-end burglary loss. Liability claims can take forever to settle as well.
The standard homeowner's policy provides a host of other coverages that may apply to your situation, such as if you are temporarily displaced due to a fire- the policy can pay for your additional living expenses.
Lots more to it than contained in this post...give us some additional information and we can assist further! Good luck!
InsTeacher 8)
Posted: Wed Sep 12, 2007 12:04 pm Post Subject:
Clarification, I wasn't ascerting that a below deductible claim would increase his rates, just that nothing would be paid and why go to the trouble. (ie deduct is 500, full repair is 300). Just wanted to clear that up.
FYI, I was SHOCKED to learn recently (and I'm a long time adjuster and worked for ten years with this particular company). When I had a hail loss on my home, (significant one I might add), the adjuster that I had also worked with said that this company (don't mind naming, but not sure that it is ok, or appropriate, let me know if you want to know), had changed their 'structure' and you get 'one free' weather related loss, in a given period, (long time, think five years), if a second, third etc, occurs in this time frame, a rate (significant) increase would occur !!
When I was employed with this company (1986-1997), that was NOT the case, in fact you could NOT be rated up for a cat./weather related losses, s(fyi in Missouri).........
Do you know, Ins Teacher about this and what states allow this? (I've been strictly auto/boat since 97)....Just thought this might be an interesting topic to explore.........
Thanks........
lori
Posted: Thu Sep 13, 2007 05:16 pm Post Subject:
Hi Lori,
Great question. I can give you a little info on this. We're starting to see more and more states be proactive in watching cancelation and non-renewals of insurance contracts, especially homeowner policies.
For some reason, call it global warming or whatever you like, weather related cat losses are increasing at an alarming rate nationwide. Many laypersons are under the false impression that "acts of God" type losses aren't covered... they are! What do you think a windstorm is, or a hurricane? Due to the large frequency and severity of these losses, carriers now have a tendency to non-renew their insureds after only one loss.
I can see whereby an insurer would tend to non-renew an HO policy in which loss has occurred if the loss was preventable to a certain degree. Losses that fit into this category would be theft/burglary, fire loss, liability problems, and every state has rules as to how and when a carrier can get off of the risk.
Weather and related cat losses are almost never preventable...how can you stop the hurricane, earthquake or flood? Granted, earthquake and flood are not covered by the standard HO contract, but more and more insureds are adding the coverage. In any case, states are beginning to pass rules and statutes that protect the insured from a non-renewal for single losses that are weather related.
I would suggest looking at your state insurance website and search for legislation that affected weather-related losses. It could be a couple of things: it could be that there are now rules that prevent insurers from non-renewing after one loss, or it could be that the insurer is simply being generous. If you ask nice, maybe I will dig up the info for you! :D
Just some rationale...hope I helped!
InsTeacher 8)
Posted: Fri Sep 14, 2007 10:27 am Post Subject:
Thanks InsTeacher for the info, glad you signed it! I think you forgot to log in...(I did that too earlier)......aghhh....
What I was told was not that I would be non-renewed, but the first weather loss was 'free' any thereafter (in a specific time frame), would generate a rate increase. I already pay about 1200.00 a year !!! I'll dig that policy out and check I'm sure it is in there, or they've sent an addendum, that I didn't pay attention too!!
Thanks again for the assistance, very kind of you to offer to look up, I'll pull the policy. I was wondering do you reakon this to be company/state/country (doubt the last one) specific?
lori
Posted: Sat Sep 22, 2007 01:31 am Post Subject:
Hi Lori,
Yep...forgot to sign in and just typed away!
Cat and weather related losses are different kinds of animals. It's tough to understand an insurer whacking a customer for losses that are totally out of his control, but unfortunately, they do.
I am not familiar with carriers increasing rates due to losses on HO contracts. Normally, they will non-renew you, increase your deductible if you've had a series of small losses, or attach an exclusion for certain types of loss.
After researching, I've found out that a number of states now allow premium increases for weather and cat related losses. I've found that insureds are commonly allowed one "free" weather loss within a 36-month period, and that subsequent losses within that time-frame are subject to anywhere from a 10% - 25% increase at renewal. That stinks.
InsTeacher 8)
Posted: Sat Sep 22, 2007 09:32 am Post Subject:
Thanks! That was exactly what I was told, first one was free, (weather related claim) but another within a certain time frame would generate an increase. As I said, when I left the 'H.O.' claims that wasn't the case, and absolutely could not increase rate no matter how many (cat losses). But apparently someone in authority has 'taken pity' on all the cat. payouts, is all I can figure. Has been about five years since I had mine, but I do need to look at that policy and see what the time frame is! Wouldn't you think somone in the biz would pay more attention ! ha......thanks again.
Posted: Tue Sep 11, 2007 11:04 am Post Subject: Don't file a claim for the sake of inquiry
Wilson, have you faced any such situation? I'm asking because, even if you enquire about a claim the insurance company will consider that as a claim and will count it later accordingly. This may even affect your premium as well as your insurability.
Posted: Tue Sep 11, 2007 11:08 am Post Subject: Contact your insurance agent
Your insurance agent can be your mentor and guide when you need to file a home insurance claim. If you suffer from a damage and need to file a claim with the insurance company, contact your agent. He will be able to guide you through the claim process. Along with document the damages, it will help you in establishing your claim before the insurance company and if required before the court of law.
Regards, fatman
Posted: Tue Sep 11, 2007 11:34 am Post Subject:
Wilson, Joshua is absolutely right in what he said about filing a claim. Well if you are required to file it anyway, you may have to opt for the following course of action:
1. First and foremost inform your insurance immediately after the disaster. Also inform your agent. Ask them about the steps to file a claim.
2. Make an account of the damages. If possible make a video of it. Also compile a list of the household items you have lost during this event. It always helps if you maintain an inventory list and time-to-time inform your insurance company about any valuable purchase.
3. Don't make any permanent repair….at least before the insurance adjuster comes and assess your damages. The insurance firm can even turn down your claim if you repair your home without their prior consent. Make only temporary repairs if necessary.
Hope this information will help you.
Juanita
Posted: Tue Sep 11, 2007 12:58 pm Post Subject:
Contact your agent or your insurance company directly and report your claim. If it is a small claim that is less than your deductible and doesn't include anyone else (someone falling in your house for example). Then you may not need to file a claim at all (if less than your deductible).
Typcially your adjuster will contact you quickly go over the facts of loss and tell you what they will need from you if anything. They may send their own adjuster out, they may need some proof of loss forms completed, it all depends on the loss.
Agree do not completely fix anything, but you do have a duty to mitigate your damage, so if you need to do some clean up, take pictures first.
If you could expand your question, I'll bet there is all kinds of help just waiting to assist you.
Posted: Tue Sep 11, 2007 04:48 pm Post Subject:
Hi,
First of all, if you could provide us some details as to what kind of loss you suffered, it would give us the additional information necessary to make sure you stay on the right path.
Secondly, under the "old" way of doing things, if you submitted a claim and for whatever reason the coverage didn't apply (under the deductible, coverage didn't exist for the loss, etc.) it could easily affect your potential future insurability (non-renewal or cancellation of the policy) or your rates. Keep in mind that homeowner losses will NOT normally affect your premiums like car insurance would.
Under the "new" way of doing things, many states currently have laws on the books that prohibit insurers from taking action on a policyholder if the claim is not payable for any reason. So...let us know the state that you are in and we can point you in the right direction!
In closing, there are many potential pitfalls out there surrounding property claims, and the senior posters answering your question are right on target. Make sure that you:
1) Keep a running documentation list of everything that occurs during the processing of the claim.
2) Keep your property from suffering any further loss (there is coverage in your policy that will pay for "removal" or reasonable costs that you incur to keep your property safe from further harm).
3) Are prepared for a lengthy settlement process if the claim involves a fire or high-end burglary loss. Liability claims can take forever to settle as well.
The standard homeowner's policy provides a host of other coverages that may apply to your situation, such as if you are temporarily displaced due to a fire- the policy can pay for your additional living expenses.
Lots more to it than contained in this post...give us some additional information and we can assist further! Good luck!
InsTeacher 8)
Posted: Wed Sep 12, 2007 12:04 pm Post Subject:
Clarification, I wasn't ascerting that a below deductible claim would increase his rates, just that nothing would be paid and why go to the trouble. (ie deduct is 500, full repair is 300). Just wanted to clear that up.
FYI, I was SHOCKED to learn recently (and I'm a long time adjuster and worked for ten years with this particular company). When I had a hail loss on my home, (significant one I might add), the adjuster that I had also worked with said that this company (don't mind naming, but not sure that it is ok, or appropriate, let me know if you want to know), had changed their 'structure' and you get 'one free' weather related loss, in a given period, (long time, think five years), if a second, third etc, occurs in this time frame, a rate (significant) increase would occur !!
When I was employed with this company (1986-1997), that was NOT the case, in fact you could NOT be rated up for a cat./weather related losses, s(fyi in Missouri).........
Do you know, Ins Teacher about this and what states allow this? (I've been strictly auto/boat since 97)....Just thought this might be an interesting topic to explore.........
Thanks........
lori
Posted: Thu Sep 13, 2007 05:16 pm Post Subject:
Hi Lori,
Great question. I can give you a little info on this. We're starting to see more and more states be proactive in watching cancelation and non-renewals of insurance contracts, especially homeowner policies.
For some reason, call it global warming or whatever you like, weather related cat losses are increasing at an alarming rate nationwide. Many laypersons are under the false impression that "acts of God" type losses aren't covered... they are! What do you think a windstorm is, or a hurricane? Due to the large frequency and severity of these losses, carriers now have a tendency to non-renew their insureds after only one loss.
I can see whereby an insurer would tend to non-renew an HO policy in which loss has occurred if the loss was preventable to a certain degree. Losses that fit into this category would be theft/burglary, fire loss, liability problems, and every state has rules as to how and when a carrier can get off of the risk.
Weather and related cat losses are almost never preventable...how can you stop the hurricane, earthquake or flood? Granted, earthquake and flood are not covered by the standard HO contract, but more and more insureds are adding the coverage. In any case, states are beginning to pass rules and statutes that protect the insured from a non-renewal for single losses that are weather related.
I would suggest looking at your state insurance website and search for legislation that affected weather-related losses. It could be a couple of things: it could be that there are now rules that prevent insurers from non-renewing after one loss, or it could be that the insurer is simply being generous. If you ask nice, maybe I will dig up the info for you! :D
Just some rationale...hope I helped!
InsTeacher 8)
Posted: Fri Sep 14, 2007 10:27 am Post Subject:
Thanks InsTeacher for the info, glad you signed it! I think you forgot to log in...(I did that too earlier)......aghhh....
What I was told was not that I would be non-renewed, but the first weather loss was 'free' any thereafter (in a specific time frame), would generate a rate increase. I already pay about 1200.00 a year !!! I'll dig that policy out and check I'm sure it is in there, or they've sent an addendum, that I didn't pay attention too!!
Thanks again for the assistance, very kind of you to offer to look up, I'll pull the policy. I was wondering do you reakon this to be company/state/country (doubt the last one) specific?
lori
Posted: Sat Sep 22, 2007 01:31 am Post Subject:
Hi Lori,
Yep...forgot to sign in and just typed away!
Cat and weather related losses are different kinds of animals. It's tough to understand an insurer whacking a customer for losses that are totally out of his control, but unfortunately, they do.
I am not familiar with carriers increasing rates due to losses on HO contracts. Normally, they will non-renew you, increase your deductible if you've had a series of small losses, or attach an exclusion for certain types of loss.
After researching, I've found out that a number of states now allow premium increases for weather and cat related losses. I've found that insureds are commonly allowed one "free" weather loss within a 36-month period, and that subsequent losses within that time-frame are subject to anywhere from a 10% - 25% increase at renewal. That stinks.
InsTeacher 8)
Posted: Sat Sep 22, 2007 09:32 am Post Subject:
Thanks! That was exactly what I was told, first one was free, (weather related claim) but another within a certain time frame would generate an increase. As I said, when I left the 'H.O.' claims that wasn't the case, and absolutely could not increase rate no matter how many (cat losses). But apparently someone in authority has 'taken pity' on all the cat. payouts, is all I can figure. Has been about five years since I had mine, but I do need to look at that policy and see what the time frame is! Wouldn't you think somone in the biz would pay more attention ! ha......thanks again.
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