We have all made them. We have all promised ourselves we would make some big improvement beginning January 1 of the new year. Blue Sky would like to suggest a new years resolution that may really benefit you and your family and is easily reached.
Review your Homeowners Insurance Policy
It is possible that your policy has gaps in coverage or limitations in coverage that could be costly. Insurance is the ultimate “out of sight, out of mind” situation. We only think about it when we need it. Unfortunately, when you need insurance, it’s too late to make changes that improve your situation. Once you report a loss and the claim is filed, any change you make to your policy only impacts future claims.
Many people find out when they file a claim that they did not have the scope of coverage they believed they had. This is also a bad time to realize that you do not fully understand how a claim works.
- What is your deductible?
- Who collects it?
- What is your responsibility?
- What work can you have done prior to meeting with an adjuster?
Once you have a claim you will have these questions and others. In fact, you will have so many questions that come to mind so fast, you may forget them before you ask them. So, ask them now.
Call your agent or insurance company if you do not work with an agent. Have your policy reviewed to make sure it covers any upgrades to your home, any additions, new decks, the hot tub you had installed over the winter, the expensive gifts that were Christmas presents, and the list goes on and on. Find out what your insurance company requires of you and expects of you in the event of a loss.
Ask what their process is when you have damage. What is their turn around time? Ask them if they have an approved vendor list. Research those vendors now so you can make an educated decision as to whether or not you want to use their vendors (YOU DO HAVE A CHOICE). Save yourself a lot of time and trouble later by resolving to get the facts you need—NOW.