No one wants to imagine the worse befalling your rental yet the reality of natural disasters and crime is too prevalent to ignore. Don’t wait until it is time to file a renters insurance claim to learn the best course of action; a bit of early preparation can make the process easier and more efficient.
1. Take inventory. Assess your belongings and get an accurate understanding of their value. Take depreciation into account as well; the TV you purchased for $800 three years ago is no longer worth $800.
2. Create a portfolio of your belongings, accompanied by photographs and brief descriptions. Save these to a cloud or off-site location. This portfolio will be valuable if you ever need to file a claim.
3. Use the assessment of your property to determine the best coverage package for your needs. Your renters’ insurance representative will be able to assist you.
4. File claims wisely. Not all incidents are worth a call to your insurance company. For instance, a relatively inexpensive yet sentimental piece of jewelry stolen during a house party is less significant than an numerous electronics stolen while you’re away on vacation. File what would be considered a significant financial loss and minimize petty claims to avoid being considered a risk.
5. When you have encountered a problem, document it using photographs, descriptions, and any other pertinent information. Create an electronic document of all the necessary information while it is still fresh on your mind. Contact your insurance representative as soon as possible.
6. If you must make repairs in the interim of the proceedings, contact your insurance company for recommended businesses in your area. Get details of what you need to do to be fully reimbursed. Keep all receipts.
7. Your complete cooperation is needed to process your claim quickly and correctly. Be sure to return phone calls and answer questions promptly.
