After a house fire, homeowners often times make claims to their insurance company. When talking with the insurance company, be sure to record your claim number, your adjuster’s name, and the name of the person you spoke with. The insurance company will send an adjuster to your home to assess the damage of your home. The adjuster may record a statement from you and give you an advance in money to pay for the necessities for the time being.
If you do not already have a copy of your insurance policy, ask the adjuster for a copy. Your homeowner’s insurance policy would cover damage to your home, damage to your personal property, and the cost of living while your home is being repaired.
Homeowner insurance policies are typically written on a replacement cost basis or an actual cash value basis. With the replacement cost basis, the loss is measured based on the amount of money it costs to replace the damaged house and property. The actual cash value basis pays the homeowner based on the value of the damaged home and property instead of the cost to replace the damaged items. The insurance company will prepare an estimate of what it will take to repair the home. The homeowner is typically responsible for creating an itemized list of property inside the house with their value. If the homeowner does not agree with the amount the insurance company comes up with, the homeowner can challenge their assessment though an appraisal or a lawsuit.
If you believe you have been treated unfairly by your insurance company regarding the processing and handling of your insurance claim, contact one of our attorneys to help you determine the options you may have.