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- Review your homeowners insurance policy and its coverages in order to understand what is and, more importantly, what isn't covered. All homeowners insurance policies have exclusions and limitations and it's best to know what they are prior to a loss. Often, coverage for an exclusion can be obtained through an endorsement.
- Evaluate the general condition of your property. Make repairs that might prevent future losses. Check sidewalks for deterioration and major cracks that could create a safety hazard. Roofs should be checked annually for leaks. Steps that are left in disrepair could potentially lead to a major lawsuit if someone were to fall and be injured.
- Prepare a home inventory of your personal property and belongings. Include as much detail as possible such as the date, cost, where the items were purchased (receipts are a good source for this information), brand name, model and serial numbers. Such an inventory can be a time-saver after a personal property loss and will help to speed up the claims process.
Use a video camera to visually document each room, closet and even contents in drawers. Provide a narration while walking through each room, detailing high-ticket items such as computers and home electronics. A video serves as documentation of your possessions and the items contained in a room, especially if damaged by fire, theft or severe storm. Be sure to keep a copy of the tape off-premises in a secure place such as a safe deposit box. Photographs can serve as an alternative or as an addition to a videotape and should also be stored off-premises. - Track all expenses associated with the loss. They may be reimbursable under your homeowners insurance policy. Examples could include mileage and meal expenses if called into court for the claim or temporary repairs made to protect against additional damage.
- Keep copies of all your paperwork for future reference.
- Don't start permanent repairs until the insurance company claims adjuster has assessed the damage and you've been given the go-ahead.
- You have the right to choose the contractor. Your insurer may provide you with a list of pre-approved contractors to save time and hassle, or you may be asked to obtain written estimates from a few licensed contractors of your own choosing. Regardless of the procedure, the policyholder has the final say in contractor selection.
In the event you are unfortunate enough to experience a major loss such as a fire or severe windstorm which has badly damaged or destroyed your home, and you are not in a position to negotiate a settlement with your company, you may want to consult an attorney or call a licensed public adjuster to act on your behalf with your insurance company. Public adjusters are licensed by the Minnesota Department of Commerce. They represent you and not the insurance company. They will help you in taking inventory of your loss, securing your home from vandalism, contacting your insurance company, advising you on the extent of your coverage and help you secure the services needed to repair or rebuild you home. They will negotiate on your behalf with the adjuster from the insurance company. -
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Disasters happen, are you covered? -- Natural disasters happen. Minnesotans have their share. You never know when you could suffer property damage or loss from a flood, tornado, wind, hailstorm, or fire. These tips will help you be "insurance-ready." -
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Basic Homeowners insurance information -- Your insurance policy will specify what perils your home and belongings are insured against. The following are descriptions of the various insurance policies available for homeowners, renters and condominium owners. Not all insurers use these exact terms to describe their home insurance policies; however, the coverage provided will be similar. -
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