How to Handle Submissions to Insurance Company


29 May
29May

Were you involved in a recent flooding? Have you considered submitting a claim through your home owner's insurance? 

Here is what you need to know:

First and foremost, you have to properly asses what the cost would be to repair the damage. Do you need to remove walls? Do you have to repair any ceilings that were effected by the flood? Does the water need to be removed?

The best way to get these questions answered, is by bringing a 3rd party restoration company (such as Mold Star) that would be able to asses the damage and give you a quote for the total job. This will include the emergency service, the repair and of course the restoration. 

Once you have a quote or two, figure out if it is in your best interest to submit a claim to your insurance company. Most insurance policies will have a deductible in place that you will have to pay prior to receiving any monies from your policy. This could range anywhere from $500 to $5000, depending on your policy. 

Once you have all that information- do the math: is it really worth dipping into your policy for restoration that would only cost $4000 if you have a deductible of $3,800? You need to keep in mind that every time you make a claim to your insurance, chances are that your premium cost will increase. 

If your home damage is much greater than your deductible, your best bet would be to submit a claim and go through the insurance company.

If you've ever been involved in any case involving insurance, such as a motor vehicle accident for example, than you already know that the insurance company's best interest is not neccaserly what is best for you. Their goal is to get rid of the problem at the lowest cost possible to them and highest to you

Once you've decided to submit a claim, your adjuster would likely send someone from their preferred restoration companies to your home to asses the damage. These companies are very familiar with your insurance providers and know that they need to give certain quotes in order to get the jobs and thus saving the insurance company's money, which sometimes come on the account of the quality of the work that is done to your house.

These restoration companies work directly under the instruction of your adjuster form your insurance company and are in most cases on their side- not yours. 

This is why I urge you to get at least 2 quotes and do your research before committing to the work being done at your home. After all is said and done, this is YOUR space and you need to have trust in the crew that is coming to restore it back to the way to was. 

When you hire a restoration company outside of the insurance preferred vendor, you have a few advantages- First and foremost, when you hire the company of your liking, you have the advantage of being able to trust the professionals working in your home. You will likely save the deductible and you will be able to have things restored YOUR way. For example- the insurance company may only provide you with the most basic hardwood flooring, as the other restoration company that you've hired will work with you to get the exact flooring style that you want.

If you do choose to hire your own restoration company, don't forget to ask and make sure that they've done insurance jobs before, as submitting claims to insurance companies is very specific. The right restoration company, will have all the experience needed to ensure a smooth transition and direct communication with the insurance company, taking away all your stress and having to do it yourself. 

Still have more questions? Don't hesitate to contact us and we would be happy to give you consultation over the phone or in person.

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