What To Know About the Insurance Claims Process

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If a major storm or fire affects your Dallas, TX, house, you should contact your homeowners insurance provider right away. Ideally, your local contractor will work with your insurer to repair the damage to the property. They may also get a restoration invoicing company involved, as well.

To ensure the insurance company pays for this remediation, you will have to file a claim. Here are some things you should know about the claims process.

1. The Insurer May Directly Pay Your Contractor.
Some contractors ask customers to sign a "direction to pay" form. This essentially states that the insurance provider will pay your contractor directly instead of sending the money to you. However, before you sign the document, you should read it carefully and make sure you are not assigning your entire claim to the contractor. Otherwise, you could end up cutting yourself out of the process.

2. You May Receive More Than One Check.
Your homeowners insurance provider may send you multiple checks. The first payment should come shortly after the inspection. The amount of the check is based on your specific policy and is usually an advance against the total settlement.
You should also receive separate checks for the damage to the structure of your home and the harm to its contents. You may get another check for additional living expenses, as well. This money should cover any costs you incur while living outside your home during the repairs process.

3. To Receive Full Reimbursement for Your Belongings, You Need To Replace Them.
If you want to receive full replacement value for any damaged possessions, you first need to replace those belongings. Each replacement item should be similar to the destroyed one in both quality and size. The insurer will then pay you the difference between the initial cash value of the item and the cost of the replacement.

Filing a claim with your homeowners insurance company can be a bit complex. The above tips should help you understand what to expect.

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