The Top Five Things People Wished They Had Known Before They Had An Insurance Claim
- KEEP A VIDEO RECORD OF YOUR HOME AND YOUR POSSESSIONS . This can be as simple as taking an hour to "scan" the inside and outside of your home, including all closets, storage, etc., should a major loss occur. This becomes invaluable!!
- DO YOU HAVE COVERAGE FOR A HOME OFFICE OR BUSINESS ? Do you have a home office or work out of your home? There are specific endorsements to cover these types of exposures. Without them, you may have a related claim denied.
- SCHEDULE ANY OF YOUR "BIG TICKET" ITEMS . If you have any jewelry, artwork, collections, one of a kind or hard to replace property, your existing policy may limit the amount you are paid as a result of a loss, unless the item has been appraised and scheduled.
- HAVE AN UMBRELLA LIABILITY POLICY TO PROTECT YOUR ASSETS . This will provide coverage over your underlying liability policies, and given the legal climate we live in, where suits are filed at the drop of a hat, they can provide a layer of protection that you can't afford to be without. (see #5)
- DO YOU HAVE COVERAGE FOR PERSONAL INJURY ? WARNING- This has nothing to do with someone falling and hurting themselves. Personal injury has to do with lawsuits for libel, defamation, slander, and invasion of privacy. Since it is not automatically included in many personal liability policies, you must request that it be added. Nowadays, this coverage is highly recommended, especially if you own any tenant occupied or income property.