Dealing With Your Insurance After Water Damage
When you suffer water damage, it can cause severe financial strain. You need to make sure you take the proper steps to do no further damage to your property and repair the damage efficiently.
This article will discuss typical insurance policies for water claims and what you should do after such an event. We'll also provide examples of mistakes some homeowners make, leading to unnecessary costs, time-consuming repairs, or even lawsuits.
The Most Common Insurance Policy
As a general rule, water damage to your home is covered by your homeowner's insurance policy. The policy covers the repair or replacement of damaged property and may also cover any additional living expenses you incur due to the damage. While there are a few other scenarios in which water damage claims are covered, it usually is.
What you should do after water damage
If you have a water-related claim, it's important to know how to proceed. The following information provides an overview of the steps you should take when your property becomes damaged until necessary repairs are made.
Step 1: Contact Your Insurance Agent Immediately
You must contact your agent as soon as possible after discovering that your house has suffered any water damage. You should also include details of the extent of the damage when you call so that your agent can initiate the appropriate procedures.
Step 2: Take Photos and Video Footage
Take photographs and video footage of the damaged area so that your insurance company can understand exactly what you're saying. You should also provide as much detail as possible about the incident, such as when it occurred, how severe it was, when you found out, and what steps you took to clean up.
Step 3: Collect Estimates from Contractors
Your insurance company will evaluate your claim and provide you with enough money to make the necessary repairs. You'll need to hire a contractor who will handle the repairs for you. It's best to get at least three quotes for the services so that you can ensure you're getting a fair price.
Step 4: Wait for the Contractor to Begin
It may take several weeks for your contractor to complete your repairs. If you have any concerns or questions regarding the claims process, contact your agent immediately.
Step 5: Check Your Bank Account for the Insurance Money
Your insurance company should deposit the money into your bank account within a few weeks of completing the repairs. As soon as you receive it, make sure to pay off any debts you have relating to this claim not to have to worry about it later.
What To Do If Your Claim Is Denied
It's important to know what to do if your insurance company denied your claim since this can happen in some cases. You can either appeal the decision or file a lawsuit.
If you have evidence that proves your insurance company made a mistake, you should appeal the decision. You can include the evidence that proves your claim was legitimate when you appeal.
For example, if you were sure you had your water heater serviced in the last few months, and your claim was denied, it would be helpful to provide a copy of a recent bill showing that you did indeed have your water heater serviced recently. The proof may help your case.
If you cannot provide your insurance company with sufficient evidence, a lawsuit may be a better option. You'll need to meet with an attorney who can help you build your case and prove why your claim should be approved.
In some cases, the insurance company may offer money for the repairs if they believe there could be an expensive lawsuit pending. Speak with an attorney if you want legal assistance in this situation.
How Much Can You Receive for Water Heater Repair?
Your insurance company may pay for the claim, but the amount they pay may be well below the cost of replacing your water heater. This is because they want to have a chance to save their money if you end up filing a lawsuit.
In some cases, your insurance company will include the cost of replacing the water heater in your repairs. However, this can vary by state and is not guaranteed.
Having a water heater that no longer works can be inconvenient at best and pretty scary at worse. You want to get it fixed so you can have hot water again. If the insurance company does not pay for your repairs, you may have the right to sue them