It is important to know what your policy covers, but also what is not covered. Asking these questions up front will help you avoid any surprises in your coverage.
Maintaining your property can help with avoiding issues that could have been preventable, such as conducting roof checks and removing dead tree limbs.
Once an incident occurs, you should contact your insurance agent to go over your options to better understand the scope of the damage. We even recommend getting a repair estimate prior to filing the claim.
If the monetary value of the loss of property is close to the amount of your deductible, consider paying it instead of filing a claim. This will help you avoid your premium being increased in the future.
- Posted: 09/30/2019When replacing lost or damaged property, understanding the difference between replacement cost and actual cash value is a vital distinction.