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Loss Prevention Corner


"Loss Prevention Corner" is a compilation of hundreds of practical tips to help you reduce your chances of having a loss, or to minimize your damage if you do. The tips are divided into categories such as Fire, Water Damage, Burglary, Identity Theft, and many more!

 
Tips for Consumers: Filing A Homeowner's Insurance Claim
 
1.

Promptly notify your insurance company or agent of your loss.


2.

Make a detailed list and description of damage, including photographs if possible. Collect your canceled checks, receipts and other documents to help the adjuster set a value on damaged or destroyed property.


3.

Review your coverage. You might not be aware, for example, that your homeowners or renters policy pays for such things as debris removal, emergency housing, and "additional living expenses" if your loss forces you to move temporarily. If you can't find your policy, ask your agent or company for a copy.


4.

Do not make permanent repairs before an insurance adjuster inspects your home. Make only temporary repairs to protect your home from further damage or looting. The insurance company might deny your claim if you make permanent repairs before the adjuster inspects the damage.


5.

If possible, be present during the insurance adjuster's inspection and take notes on the discussion. You might want your own contractor/builder present to represent your interests.


6.

Keep good notes on all contacts with your insurance company and adjuster. Your chance of getting a satisfactory settlement improves when you are well prepared with the facts. Write down names, dates, and who said what. Remember, good records help your cause if you want to complain to the Department of Insurance about an insurance company's decision or contest it in court.


7.

Don't agree to a final claim settlement until you are satisfied that it is fair. You're entitled to obtain independent estimates if you wish.


8.

After major claims events (disasters, storms, etc), “public adjusters” offer to help victims pursue their insurance claims – for a price. You are not required to hire a public adjuster, but if you hire one, be sure about their fee. Usually, it's a percentage of your claim payment.


9.

Get more than one bid for construction or repair work. Try to use a local contractor with a good reputation. Large claims events like storms often attract fly-by-night operators who do shoddy work or skip town after receiving advance payments.



    





DISCLAIMER

During my 27 years as a Property and Casualty Insurance Agent in the Greater Boston area, I have been collecting, from many sources, lists of dos and don'ts related to various areas of Loss Prevention (also known as "Risk Management"). "Loss Prevention Corner' is a compilation of those Risk Management tips that we offer as POSSIBLE SUGGESTIONS. Each of these tips may or may not be appropriate at all times, since every situation is different. The tips are here for your consideration. You must decide which of them is right for you.

Michael A. Norman
Our Video Legacy / Owner
 

9

Fire

9

Burglary

10

Storm

8

Explosion


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Weekly Tip: Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. That way you will know what you had in your wallet and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place!