Last Updated on September 29, 2020 by Andrew Lee
A lot of people believe that New York homeowners insurance policy holders have to go through a lot of difficult steps during the claims filing process. This isn’t always the case. There are many things that homeowners in the state, such as yourself, can do in order to make the process a lot easier and smoother.
Keep in mind these things, and you can increase your chances of easily completing the filing of a claim and getting it over with.
Don’t stop paying your premiums
As you wait for your insurance company to finalize the claim, you should continue making payments towards your premiums. Just because you’re waiting for them to settle with you doesn’t mean your policy is on hold – it continues to provide you with protection for any future damage or loss.
NY Homeowners paid an average of $1,213 of premiums annually compared to the national average of $1,096
As long as you complete these strategies, you most likely will wait for your New York homeowners insurance provider for just a shorter period of time to settle with you. So don’t put off that home inventory nor that required payment: always practice timeliness and you will have greater chances of reducing waiting time for a claim.
Conduct a thorough inventory of your home and its contents.
One of the things that’ll help reduce the amount of time you need to spend in filing a claim, in the event the need arises, is to conduct a complete home inventory and keep your list up to date every time you make changes or additions. The New York Department of Financial Services (DFS) strongly recommends this strategy.
Making a list of everything you own will allow you to quickly determine a lot of useful information about the components of your house and the personal belongings you have. First, you can cross-check the list with your policy to figure out which of them has coverage. This will prevent you from wasting time in filing a claim for something you don’t have coverage for.
Doing this also eliminates the need for you to manually remember everything you own in case you experience a major loss after a covered peril.
You can use this home inventory checklist issued by the DFS to make things even a lot easier.
Keep all your receipts for back up
You should keep any financial documentation relating to your insured property, particularly receipts. Like with a warranty, your insurance company may also ask you to provide paperwork as proof of ownership before processing your claim. Organize and keep them in a safe place so that you can easily find them when your insurer asks you to present them.
Don’t delay filing the claim
As soon as you can start the filing process, do so. As long as you make it within the limit to the length of time or number of days for filing, your insurer will honor any qualified claim. Give the company a call right away, and then follow it up with a written note. Make sure you keep all forms of correspondence, as this will allow you to easily double-check any piece of information.
Your insurance company will ask you for the following: when and what kind of damage/loss occurred; specific details on the damage; injuries relating to the incident; other people involved; description of the contents damaged/lost; and/or if the damaged item may still require temporary repairs.