As long as you do it properly, claims filing doesn’t necessarily have to result in you wasting a lot of time and resources. Yes, you have to wait for a certain amount of time for your insurer to settle with you, but as long as you satisfy the requirements, you can rely on your policy to provide you with the coverage you need.
To make things easier for you, here are the strategies you shouldn’t fail to implement so that in the event you have to use your South Carolina homeowners insurance coverage, you can avoid hassles and troubles.
Remain on time with premiums payments
A lot of South Carolina homeowners insurance policy holders have made the mistake of forgetting about their premiums payments just because they await the settlement from their insurer. This is one of the things you should completely avoid doing, as this will actually just prolong the completion and finalization of the settlement. Besides, there’s also the fact that you don’t want to have your policy cancelled, resulting in having no protection for the investments you have worked so hard for.
Keeping an up to date home inventory
As the South Carolina Department of Insurance cited, a homeowners package policy, which consists of both property and liability insurance, is a great way to protect your home and its contents. However, this wouldn’t account for a lot if you don’t really have your most prized possessions insured.
This is where an up to date home inventory comes into play.
An annually-conducted and thorough home inventory will give you the opportunity to make certain all your new investments (new items, personal property, home improvements, and additions among many others) have sufficient coverage. With a regularly updated list, you can easily pinpoint the belongings you have insured and can make a claim for just in case a covered peril causes you to lose them or results in them sustaining damages.
Keeping abreast of all the new things added to your home inventory will also make it easier for you to figure out which ones have coverage. This is important, as you don’t want to file a claim for a property you don’t even have insured in the first place. Remember: just a single claim can already have a big impact on your claims history, something that has a heavy bearing on your insurance rates.
Organizing all important and relevant paperwork
You should properly store and organize all receipts and other relevant documents relating to your insured properties. One of the primary reasons for this is for evidence purposes, as your insurance company might ask you for paperwork when you file a claim.
File for the claim as soon as possible
You want your insurer to settle with you as soon as possible, so you should file for a qualified claim as soon as you possibly can. You should do this as insurance firms typically have a limited time frame on the number of days a policy holder should file a claim. Failure to do so can lead to you no longer meeting the qualifications and eligibility requirements for settlements.
As long as you choose a South Carolina homeowners insurance company that has a stellar reputation for providing exceptional services, you will get the most out of the money you spend on your premiums.