Property Damages: 3 Tips for Filing a Claim
Are you aware that nearly 40% of people living in the United States are renters?
If you manage one or more properties, then there’s a chance that you’ll have to deal with unexpected damage at some point. In this occurs, it’s important to handle the situation with as much professionalism as possible. That way, you have a much better chance of getting compensated.
Are you wondering what you should do? Keep reading to learn all about 3 tips for filing a claim related to property damages.
1. Gather Evidence and Stay Organized
When filing a claim, you have to be ready for questions from the property damage insurance company. If you can’t produce evidence, for instance, then the chances of your claim getting accepted are quite low.
As soon as you notice any damage, it’s crucial to document it with photos from various angles. Be sure to file an official report with the police if you suspect criminal damage to property.
It’s often the case that tenants must sign off on the condition of the property before moving in, so having that paperwork handy will also be helpful.
2. Enlist an Expert
An expert can help with negotiating an insurance settlement. This will expedite the process and ensure that you complete every step without any mistakes.
Are you asking yourself, “How much is property damage?” An expert can work with you to determine the exact costs involved with the damage so that you get every penny you deserve. They might even find further damage that’s not noticeable at first glance.
The last thing you’d want to do is fix the surface of a wall but not the damaged pipes beneath, for example.
3. Be Timely
There’s a good chance that your insurance provider has a property damage claim time limit. This is why it’s important to act as soon as you notice something is wrong.
Be sure to get in contact with your provider and ask them if there’s any time limit. That way, you won’t encounter any unpleasant surprises down the road.
Another reason you need to be timely is that the provider needs send a representative to assess the damage in person. This means you shouldn’t fix anything until after that happens. If you fix the damage and then try to file a claim, you could end up forfeiting the money you’re owed.
Are You Ready to Get Compensated for Property Damages?
Now that you’ve learned all about 3 tips for filing a claim related to property damages, you can have the responsible party cover the costs of the damage instead of paying for it out of your own pocket. From then on, you can be extra careful about the tenants you screen.
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