Making a Home Insurance Claim: A Step-By-Step Guide
Making a home insurance claim isn’t anyone’s idea of a good time. In the unfortunate case that you do need to file one, it likely means some form of damage was done to your property and repairs can be costly. However, with the right insurance company, you can file a home insurance claim and receive the financial return you deserve.
At Archway Insurance, we are dedicated to providing clients with quality service that leaves them feeling satisfied. With our team of dedicated professionals, we have created a step-by-step guide to filing a home insurance claim so that you can feel confident in filing one yourself, should you ever have the need to do so.
What is a home insurance claim?
Home insurance protects you from unexpected damage done to your home. Most homeowners purchase home insurance to keep their most valuable asset safe. If your home is damaged, for example, by fire or severe weather, you can file a home insurance claim with your insurance company. They will help cover the cost of the damage done to your home. Depending on your specific policy, you may also be covered for things like theft, vandalism and liability.
If you need to make a home insurance claim, it can be a stressful experience. To help you through the process, we’ve put together five steps to making a home insurance claim. Keep reading to learn more about what you should do before, during and after you make a home insurance claim.
5 Steps to Making a Home Insurance Claim
1. Create a home inventory checklist
If you haven’t created one already, take the time to create a home inventory checklist. It’s simply a catalogue of all the high value belongings in your home. Taking the time to create a home inventory checklist can save you a lot of time if you are a victim of theft, vandalism, or any other kind of damage.
Creating a home inventory checklist allows your claims process to move faster, as it eliminates the hours otherwise spent tracking down items that have been lost or damaged in the event of an accident.
For more information on how to create a home inventory checklist, visit this page detailing a step-by-step guide or contact one of our brokers who can assist you in creating one.
2. Gauge the situation and whether it is worth filing a claim
As soon as the damage has taken place, it is important to first consider if it is worth filing a claim in the first place. If it is for a smaller item, such as a piece of furniture that is inexpensive and easy to replace, it is likely that a home insurance claim may be unnecessary. Ask yourself if it is possible to pay repairs out of pocket, or if it is worth replacing.
If you have not filed any claims for the past year, you may have also built up a no-claims bonus with your home insurance company that provides you with a discount on premiums. Once you file a claim, you lose this discount and you end up paying more each month on premiums. If the increased cost of premiums outweighs the coverage you would receive from your claim, it may not be necessary to file a home insurance claim. Your broker can help you determine if it’s worth it to file a claim.
3. Gather as much evidence as possible
Before you begin filing your home insurance claim, collect evidence of the damage done to your property to send to your insurance company. This is where your home inventory checklist, if you have one, comes in handy.
Evidence can be gathered by taking photos of the damage, keeping receipts of goods purchased, and collecting witness statements from people who were present at the time of the damage. If you are filing a claim on damaged items, you will want to keep those items somewhere safe until the time comes to claim them.
4. Contact your insurance provider
Next, call your insurance provider and tell them everything about what happened. For example, if your property was damaged in a fire, explain the details of how the fire started, who was present at the time of the fire, and which area of the property or goods became damaged. Your insurance company (in this case, Archway Insurance) will collect this information so they can provide you with service that matches your specific needs.
This is also the step in which you will want to discuss the details that you need to know on your end. This includes the amount of coverage you will receive, where you will be staying if there is a need to vacate the premises during repairs, and anything else they might need to tell you about how the claims process will go.
5. Complete a remediation form and activate your claim
The last step to making a home insurance claim is completing a remediation form that your insurance provider will give to you. Your insurance adjustor should also give you a report that includes details about your claim, such as the type of damage and how much it will cost to repair it.
After you have signed all the forms and settled everything with your insurance provider, you can activate your claim and begin receiving financial compensation in the form of a check to repair your home with the help of contractors and your insurance adjustor. As long as you follow the previous steps, this part should go smoothly.
Why file a home insurance claim with Archway Insurance?
At Archway Insurance, we take home insurance seriously. After all, your house should be your safe space, and having reliable insurance is an important factor in creating a happy, stress-free home.
If you are looking to file a home insurance claim, consider Archway Insurance as your gateway to finding the best rates from leading insurance companies. If you have any questions about the impact of claims on your premiums or other concerns, our brokers can help guide you through the process of filing a claim and help you achieve a better rate.
To learn more about purchasing home insurance in New Brunswick, Nova Scotia, and Prince Edward Island, call Archway Insurance at 1-833-536-0529 or contact us here.