HOW TO FILE A PROPERTY DAMAGE INSURANCE CLAIM
How to file a property damage insurance claim – When disaster strikes you need to know how to file a property damage insurance claim! This can be the result of experiencing fire damage, water damage, or storm damage. MidSouth Construction is Nashville’s leading expert on insurance restoration services and can help you through this overwhelming process. Here are a few steps to help you navigate through the confusing process of filing an insurance claim for property damage to your home of business!
- Take an inventory with photographs and video of your damage. If you have sustained storm damage, it is very helpful to have documentation of any hail stones that have fallen around your property. Our project managers are happy to assist you in this documentation process.
- Secure your property to prevent an additional damage. This is especially important after a fire! Once the fire has been extinguished, it is critical to start the water removal process and board up your home or commercial property to prevent additional damage! MidSouth Construction offers emergency board-up services in the Nashville, TN and surrounding area.
- Review your policy! It is very common for homeowners to be unaware of what is actually covered by their insurance policy. Do you have code endorsement? If your roof covered under replacement cost of actual cost? What is your deductible? If you have any questions regarding your insurance coverage, our knowledgeable staff if always here to help! Our staff even includes licensed public adjusters if needed to help answer any questions you may have regarding your insurance claim.
- Submit your claim! Once you have documented your damage, secured your property and reviewed your coverage, it is time to submit your claim! This step is very easy and generally just requires a phone call to the claims line of your insurance carrier or some companies even allow claims to be filed online. Warning…do not open a property damage insurance claim unless you are convinced that your damage meets the criteria for replacement and is a covered event! Again, our staff of expert project managers can help you determine if an insurance claim should be filed or if the repairs are best paid for out of pocket.
- Meet with the adjuster! This step is so critical to the final outcome of your insurance claim! The insurance adjuster is there to represent your insurance company. It is always in your best interest to have your own contractor on site who can meet with the adjuster. This is important because it is helpful to have two sets of eyes inspecting your property damage to ensure ALL damage is covered. It is also important to ensure that the claim is paid correctly and no line items are missing. At MidSouth Construction we use the Xactimate software program which is the same estimating program used by your insurance company. This is important because we never argue over pricing – that is determined by the insurance company and the Xactimate program. But we DO ensure that all damaged items are properly entered into the system and paid correctly.
- Receive your approved claim estimate and payment. Typically the insurance company will release your total property damage claim payments in more than one payment. The first check will cover the ACV or actual cash value, and the second payment will be the depreciation amount. In addition, if the insurance adjuster has left off anything from your claim, there may be a third payment for any supplement items. The depreciation funds can only be released if the work has been completed. If you keep the initial ACV check and fail to complete the approved repairs the insurance company will not release depreciation. In addition, the items covered in the ACV check will not be covered under future damage if they are not repaired.
This brief video from Atlas Roofing Products is a great simple explanation on the steps you needs to take to tile a property damage insurance claim. And remember, we are always happy to provide free roof inspections, and property damage inspections before you file an insurance claim! Together we will educate you on How to File A Property Damage Insurance Claim! We are certified Commercial roofing contractors and residential roofers as well as experts in water damage, fire damage, and all types of storm damage including commercial roofing contractors and residential roofing! MidSouth Construction truly wants to be the only call you need to make when tragedy strikes! We are restoring lives one property at a time!