Getting to Know Your Homeowners' Insurance Policy
Because mold growth can begin within twenty-four hours of water damage, stopping the incoming water and drying out the materials as soon as possible reduces the potential for mold growth. Your homeowners’ insurance policy allows you to protect your property from further damage without jeopardizing your coverage. It is also important to follow our water damage tips to ensure your safety.
Your duties, as outlined in most residential property insurance policies, include, but are not limited to:
- Notifying the insurance company immediately with details of the claim
- Protect the property from further damage
- Make reasonable and necessary repairs to protect the property
- Keep an accurate record of repair expenses
This means that you the homeowner have a responsibility to protect the property from further damage and make reasonable and necessary repairs; this should include hiring a professional company to mitigate the damages for you. You are responsible to see that the job is done properly; the insurance company is responsible for reimbursing you for the invoices as outlined in your policy.
Policy provisions require you to provide your company with a written notice of claim, but on most water damage claims your initial contact should be by telephone. Have your policy number available and be prepared to provide information on the extent and severity of the damage. Initial contact may be with your insurance agent, a claims office or the toll-free phone number included in the policy.
Under most loss settlement provisions, your insurer is responsible for paying the actual and necessary cost to repair or replace the damaged part of your home with material of like kind and quality, subject to your limit of liability and all other policy provisions.
There are times when these timelines may not be feasible, such as in the event of a major catastrophe.
Hiring a Professional Restorer or Structural Drying Firm
For typical water damage claims, it is appropriate for your insurance company to
- Make written or verbal contact within 24 hours or one business day of notice of claim, and share information regarding emergency repairs and mold prevention.
- In the case of an active leak, your company may verify that you have shut off the water and advise you to contact a qualified specialist (such as a plumber and/or drying company). Your company may provide a list of qualified specialists who can address the problem immediately. However, it is your right to select any vendor of your choice, including vendors not on the insurance company list.
- Your company may advise you of your responsibilities under the policy.
