An Overview Of Making A Personal Property Claim With Your Home Insurance
Posted on: 24 April 2023
Your homeowner's insurance policy isn't just to protect the structure of the home itself. There is also protection for personal property inside your home. This covers incidents related to fires, theft, natural disasters, and other covered events where the property inside needs to be replaced. Here is what you need to know about making a personal property claim.
Document Your Property
The best way to have a personal property claim go through smoothly is to document your belongings. This can be done by taking photographs of the items in your home, and then storing them online in a secure place so that you always have access to them. If there is ever a dispute about something you are making a claim for, you can use those photos to prove that they were in your home.
Contact The Insurance Provider
You'll need to start the process by making a claim with your insurance provider. They'll walk you through the process of getting the claim started, assign you a claims adjuster, and give you a case number to reference. You'll need to fill out documentation about the personal property that was stolen or damaged, as well as provide a replacement value for those items.
Work With The Insurance Adjuster
You'll be working closely with an insurance adjuster throughout the process since they are the person that ultimately approves or denies your claim. They are going to evaluate the damage and what the appropriate payout would be. You may need to provide them with additional information to prove ownership, such as those photos or receipts.
The adjuster may also make alterations to how much an item will be worth if you replace it and how much you will receive if you don't replace it. It is common to receive a depreciated value of an item based on its age, which would be less than the amount you'd receive to replace it with a similar new item.
Sometimes the replacement item must be approved by the insurance adjuster as being similar to the item that was lost or destroyed. For example, if a TV was destroyed in a house fire, you would need to replace it with a similar model that is made today. You couldn't replace it with a high-end model that is much more expensive and with more features.
Reach out to an insurance agent if you have any questions about a personal property claim.
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