How to handle a damaged home!
This post is provided by John May.
Securing a damaged home will be overall the most important step moving forward with your claim. Here is some helpful advice to guide you moving forward with your damaged home.
Most insurance companies will require you to take care of the damage to your home. You must secure your property to prevent any further damage. If something is a total loss, this shall be unnecessary and will be dealt with by the insurance company. However, if only one section of your home was damaged, be proactive and swift in securing the damaged location to prevent any further damage this is known as "mitigating damage," which is just a term for preventing further damage to the property.
This will include, covering holes in walls, protecting your roof from the elements, boarding up any damaged windows, building a fence to prevent any looters/robbers. Moving your property inside the home that may cause further damage is not advised. For example, moving a television that was underneath a hole in a ceiling.
Your insurance policy should include a clause called "loss of use," this means the insurance company will reimburse you for cost of living, any expenses needed while displaced from your home. However, you are not entitled to the difference between the cost while your displaced and what it has been costing you in your home. For example, your monthly living expenses are $5,000 per month, where you are now having to add hotel c...
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