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Cleaning Up After Sandy- 5 Tips to Follow When Submitting Your Insurance Claims

When natural disasters like Hurricane Sandy hit and property damage is sustained, it is important to follow appropriate steps to make sure your claim is tended to and paid as promptly as possible. Insurance agents are good resources during these difficult times, and the best ones make themselves accessible to their customers.

Here are a few steps to follow when submitting your claims:

1. Report homeowner’s and flood insurance companies of your claim as promptly as possible if you’ve experienced damage to property. It’s important to note that standard homeowners insurance does not cover flood damage arising from hurricanes and other weather-related damage. Thus, you may have to contact multiple parties during this process.

2. Try to make sure that further damage doesn’t happen to your property if possible. Most insurance carriers would rather write a smaller check than a larger one. However, these should only be temporary repairs, not permanent repairs. For any repairs that you make to protect, be sure to save all receipts to be reimbursed by your insurance company.

3. Get scheduled for an adjuster to come to your property. Due to the massive amounts of claims post Sandy, some companies are using adjusters in-house in addition to flying in adjusters from outside their company walls from all over the country to deal with this surge. Record the name, company, and number of everyone you speak with during this claims process, as multiple parties may be involved.

4. Document the damage before you start cleaning up and do not dispose of property until an insurance adjuster has reviewed it for your claim. This is even more critical for consumers who have coverage through the carriers who cater to the general markets (Liberty Mutual, State Farm, etc.) and for flood insurance claims, since that is provided through the government. With technology these days, it’s very easy to photograph or videotape the damage and send it to the insurance adjuster. When in doubt document more rather than less!

5. If you need to find other lodging, keep records of expenses and all receipts. Many policies generally provide some coverage for expenses that include lodging, meals, rent, and transportation if the reason you must leave your home is due to a covered loss.

We all hope you and your loved ones are safe, and that the property damage you may have experienced is minimal.

 

Important Disclosure Information

Please remember that different types of investments involve varying degrees of risk, including the loss of money invested. Past performance may not be indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or undertaken by RegentAtlantic Capital, LLC (“RegentAtlantic”) will be profitable. Please remember to contact RegentAtlantic if there are any changes in your personal or financial situation or investment objectives for the purpose of reviewing our previous recommendations and services, or if you wish to impose, add, or modify any reasonable restrictions to our investment management services. A copy of our current written disclosure statement discussing our advisory services and fees is available for your review upon request. This article is not a substitute for personalized advice from RegentAtlantic. This information is current only as of the date on which it was sent. The statements and opinions expressed are, however, subject to change without notice based on market and other conditions and may differ from opinions expressed in other businesses and activities of RegentAtlantic. Descriptions of RegentAtlantic’s process and strategies are based on general practice and we may make exceptions in specific cases.

Please remember to contact your insurance agent directly, as RegentAtlantic is not an insurance agent.

Important disclosure information

Please remember that different types of investments involve varying degrees of risk, including the loss of money invested. Past performance may not be indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or undertaken by RegentAtlantic Capital, LLC (“RegentAtlantic”) will be profitable.

Please remember to contact RegentAtlantic if there are any changes in your personal or financial situation or investment objectives for the purpose of reviewing our previous recommendations and services, or if you wish to impose, add, or modify any reasonable restrictions to our investment management services. A copy of our current written disclosure statement discussing our advisory services and fees is available for your review upon request.

This article is not a substitute for personalized advice from RegentAtlantic. This article is current only as of the date on which it was sent. The statements and opinions expressed are, however, subject to change without notice based on market and other conditions and may differ from opinions expressed in other businesses and activities of RegentAtlantic. Descriptions of RegentAtlantic’s process and strategies are based on general practice and we may make exceptions in specific cases.

RegentAtlantic does not provide legal or tax advice. Please consult with a legal and or tax professional of your choosing prior to implementing any of the strategies discussed in this article.

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