Get the Most from Your Homeowner’s Insurance
Ever have a problem getting an insurance claim paid on your home or property? James Walsh, co-author of Get Your Claim Paid: A Pro-Active Guide for handling the Most Difficult Part of Insurance, offers some advice. Always keep an inventory of everything in your house so you can provide detailed information if you ever have to make a claim. Never accept a claim offer that you consider too low, Walsh says. Ask contractors for detailed estimates of what needs to be done to repair damage, and send the estimates to the insurer. If an insurer denies your claim or tells you to go to court, ask for the language in the policy or state law that allows the denial, he says. Ask your state insurance regulator for help.
Walsh cautions homeowners to have special riders for electronic equipment, collectibles, fine art, jewelry and furs, since you may get little or no coverage for these items under a standard policy.