Saturday, November 2, 2013
Your Home Insurance And Making A Claim
When an individual takes out a home insurance policy, he or she will usually think that they are wasting their money. Most home insurance policies are only taken out of habit and that niggling doubt at the back of the mind that if home insurance is left to lapse then something will almost certainly happen. The course of life is never smooth and things will go wrong, but at least with home insurance you can make a claim. Homeowners insurance claims, however, are nowhere near as straightforward as they sound and so this is your guide to making a claim.The first thing you should do when taking out home insurance is to make a home inventory. A home inventory is essentially a list detailing all of your belongings. Whilst this may sound like a hassle to compile, it can be a vital aid if your house is destroyed in a flood or a fire, or even if it is burgled. It is the only sure fire way to keep track of what you own. An inventory should be kept up to date at all times so that you are prepared for the worst from the start. A list with all of the necessary facts is only the basic beginning of an inventory. You should also take pictures or a video, keep receipts and store them all in a safe deposit box away from your home. This will help no end if you do need to make a homeowner's insurance claim because there is no way that you will remember all of the details otherwise.The first step in making a homeowners insurance claim is actually filling in the necessary paperwork. You will need to obtain the form direct from the company and fill it in completely or else it will be returned to you. They will ask for complete details of any items damaged, destroyed or lost. This includes but is not limited to brand, price, age and description. The form is a legal document and so only the facts should be documented on it, rather than speculation. If need be, the specifics can be determined by experts.Home insurance companies will often need proof of any items lost or damaged when making a homeowners insurance claim these days as a result of the rise in home insurance fraud in recent years. This actually costs home insurance companies millions of pounds every year and makes it a lot more difficult for genuine homeowner insurance claims to get through the system. If a household item is damaged, an oven for example, the company may insist that an agent comes into your home to assess the damage to make sure that your claim is valid. As a result, your claim may take up to a month to resolve so be prepared for a wait.Once homeowners insurance claims are settled, payment can come through in a few days because it is only the actual paperwork that takes time. As long as you deal with your claim in a logical way and contact the home insurance company if you have any queries then you shouldn't have a problem. Just be honest with home insurance companies and you will not go far wrong.