A Step-by-Step Guide for Homeowners

Experiencing property damage due to water, flood, or fire can be overwhelming for any homeowner. In these moments, filing an insurance claim is a crucial step towards recovery. A key component of this process may include creating a comprehensive property claims list. This list is not just a collection of damaged items, but a detailed document that can significantly affect the outcome of your insurance claim.

 What is a Property Claims List?

A property claims list is an itemized record detailing all the items damaged or lost due to an incident. It should include photographs, descriptions, estimated values, and, if available, receipts of the items. This documentation is essential for insurance carriers to assess and reimburse your loss accurately.

Step 1: Document Water Damaged Property/Contents

As soon as it’s safe to re-enter your property, start documenting the damage. Take clear photographs of all damaged items from different angles. If you’ve already created a property asset list using tools like Google Docs or Company Cam, this process will be more efficient.

Step 2: Create a Detailed Item List

Begin compiling an itemized list of all damaged or lost property. For each item, include:

– A detailed description (brand, model, age, etc.)

– The location of the item in your home

– The estimated cost or purchase price

– The current estimated value (consider depreciation)

Step 3: Gather Proof of Ownership

Attach any available proof of ownership to your list, such as receipts, warranty cards, or bank statements. If receipts are not available, use credit card statements or photographs of the items before the damage occurred.

Step 4: Estimate Contents Lost by Water Damage in Dollars and Cent

For items without receipts, research online to find similar items and their current market value. Be realistic in your estimations; overvaluing items can complicate the claims process.

Step 5: Organize and Backup Your Documents

Organize your list and supporting documents systematically. Use digital tools for backing up your documents. Cloud-based services like Google Drive offer easy access and security.

Note to Homeowners Experiencing Water Damage

Creating a thorough property claims list is an indispensable part of the insurance claim process. It not only ensures fair compensation but also helps in keeping the process transparent and efficient. Remember, the effort you put into documenting your loss accurately can make a significant difference in your recovery journey.

Regularly updating your property asset list even before any incident occurs can save time and stress. It’s a good practice to review and update your list annually. This guide is aimed at helping homeowners navigate the often daunting task of insurance claims after property damage. By following these steps, you can ensure that your claim is processed smoothly and effectively, helping you to rebuild and recover more quickly.

Maximizing Your Insurance Benefits:

Getting Reimbursed for Property Damage Assessment

Following our previous guide on creating a property claims list for insurance purposes, we bring you encouraging news: most insurance carriers cover the costs associated with compiling this list. This means you, as a homeowner, can comfortably afford to hire a professional, like a water/fire damage project manager, to meticulously document and assess your property’s damage.

Insurance Coverage for Damage Assessment

Insurance policies often include coverage for the time and effort it takes to create a detailed property damage list. This coverage is a significant relief for homeowners, as it allows them to seek professional assistance without worrying about the additional financial burden.

Professional Water Damage Contents Assessment Notes

1. Benefits Professional Water Damage Contents Assessment?

Hiring a water/fire damage project manager or a restoration professional offers several advantages:

– Expertise in identifying salvageable items.

– Detailed documentation of each item’s condition.

– Assistance in estimating the value of damaged goods.

2. Billing for the Service

Most contractors in the water and fire damage mitigation field are not familiar with billing for these specific services, as it’s typically not listed as a separate item in Xactimate, the industry-standard estimating software for restoration projects.

– Separate Invoice: Contractors can issue a separate invoice for the time and effort spent on documenting property damage.

-Using ‘General Service’ Line Item in Xactimate**: Contractors can include this service under a ‘general service’ line item in Xactimate, with a clear description of the services provided.

Communicating with Your Insurance Carrier

1. Inform Your Insurance Carrier: Let your insurance company know that you intend to work with the water damage mitigation professional to create a property damage list. Provide them with the estimated costs for this service.
2. Documentation Is Key: Ensure that the contractor provides detailed documentation of the services provided, as this will be crucial for insurance claims.
3. Review Your Policy: It’s always wise to review your insurance policy to understand the specifics of what is covered under these circumstances.

Conclusion

The option to hire a professional for property damage assessment and have the costs covered by insurance is a game-changer for homeowners dealing with the aftermath of water, flood, or fire damage. It ensures a more accurate and professional approach to documenting damages, ultimately leading to a more seamless and fair insurance claim process.

Note to Contractors: Familiarize yourself with the billing process for these services. Offering this service can not only add value to your clients but also set your business apart in the competitive field of water and fire damage restoration. This addendum aims to highlight the often-overlooked aspect of insurance coverage that can significantly benefit homeowners during distressing times. Understanding and utilizing this benefit can make a world of difference in managing the aftermath of property damage.

Exciting Expansion of Services at Metrix Restoration

We are thrilled to announce an exciting expansion of our services at Metrix Restoration. In our continual effort to provide comprehensive solutions for our clients, we have now added Contents Processing, Move Out, and Storage services, made possible through our strategic partnership with Top Notch Moving Services.

Contents Processing:

Our skilled team, now in collaboration with Top Notch Moving Services, will meticulously handle your personal belongings affected by water damage. Using advanced techniques and equipment, we ensure that your items are carefully restored, preserving their value and memories.

Moving Services:

Understanding the complexities involved in water damage scenarios, our new Move Out service facilitates the safe and efficient removal of your possessions from the affected area. This service is designed to minimize disruption to your daily life, allowing our team to conduct restoration work more effectively while ensuring the security of your belongings.

Secure Storage Solutions:

In partnership with Top Notch Moving Services, we now offer secure, climate-controlled storage solutions. Whether it’s short-term or long-term, our storage facilities are equipped to protect your possessions from further damage, giving you peace of mind as we work on restoring your property.

This expansion reflects our dedication to offering a full spectrum of high-quality restoration services. We understand the stress and challenges that come with water damage, and our goal is to provide seamless, end-to-end solutions to make your restoration experience as smooth and worry-free as possible.

For more information about our new services or to schedule a consultation, please contact us at Metrix Restoration. Our team is ready to assist you with any questions you may have.

Metrix Restoration – Your trusted partner in restoration and beyond.