Budget Concerns: How Much Insurance is Enough?

Budget Concerns: How Much Insurance is Enough?

Home Vandalism: Steps To Take Before Making A Homeowners Insurance Claim

Dustin Duncan

If your home is vandalized, then you may wish to make a claim to your home insurer, such as Greg Thomas Insurance Agency Inc, for the damage. However, contacting the insurance adjuster isn't the only thing you should do. Here are other essential measures you should take:

 Report It to the Police

The first step is to report the vandalism to the authorities. Get a police report and ensure that you also have the names and contacts of the officers involved in the report. This step serves several purposes, for example:

  • It validates your vandalism claim
  • It may help in catching the perpetrators
  • It gives you documentary evidence for your claim
  • It meets your insurer's requirements

Preserve Evidence of Damage

Before you start cleaning up or repairing any damaged items, you need to take their photographs or video records for the insurance adjuster. For example, don't fix your broken doors before photographing them. Also, don't throw away damaged items, for example, you need to keep your broken fine china until the adjuster arrives.

Check Your Policy

It is advisable to read your policy and know what it demands in these circumstances; there may be a specific procedure you need to follow. For example, you may be required to contact a specific contractor even for temporary repairs. There may also be a time limit within which you have to file your claim. This last step is especially important if the damage occurs while you are living away from home.

Protect Your Properties from Further Damage

Next, you need to act to limit the damage to your property. The initial destruction may have exposed your house to different risks. For example, broken windows can let in rainwater into your house, which can damage your furniture, electronics and even encourage growth of mold and mildew. If you don't carry out temporary repairs and measures, then your insurer may not be liable for the additional damage:

Examples of temporary measures you may execute include:

  • Boarding up windows
  • Covering furnishings
  • Drying metallic furniture to prevent rusting
  • Taking your valuables elsewhere for safe keeping

In case you need some emergency money for these measures, contact your insurance adjuster. You may also need to contact the adjuster first (depending on your policy) before contracting any of these repairs, even if you have the money. Whatever the case, keep all the receipts of expenditures for the repairs.

These are helpful tips, but the guiding document should be your insurance policy. Something like calling the police or keeping photographic evidence is helpful in all cases. However, other things (such as making temporary repairs) may be handled differently depending on the insurer.


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Budget Concerns: How Much Insurance is Enough?

Insurance is something that I carry in the hopes that it never has to be used. Along with life coverage, I also have low cost auto insurance and a health plan through my employer. I'm toying with the idea of adding some additional coverage, just in case something happens and I'm no longer around to take care of my family. The question that is on my mind is how much insurance is enough? Do I really need more, or would it be better to cultivate other assets that my loved ones can draw on if needed? If you are in the same boat, let's journey together for a while. Read on and I'll explain what I'm trying and why. Together, we can figure out when it is time to add more coverage and when enough really is enough.

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