Should I File a Property Damage Claim? Three Questions to Help You Decide!
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Preferred Mutual can help protect you and your family from the unexpected. If your home is damaged or your belongings are stolen, we can help cover repairs or replacement, temporary housing and more! What happens if there is an incident and you are not sure whether to file a claim? Here are three questions to help you determine what to do next.
Scenario: If a tree falls through your roof, you will likely file a property damage claim under your Homeowner’s policy. However, there are incidents that could occur that might make you question whether you should file a claim.
Is My Loss Covered Under My Policy?
Preferred Mutual provides several ways to file a claim, 24 hours a day, 7 days a week.
You can report a claim at any time by:
- Phone: Call 1.800.333.7642 and follow the prompts to report a claim
- Email: firstname.lastname@example.org
- Online: Our secure online customer service center lets you enter a claim and check its status 24/7/365. To get started, register and/or log onto MYPreferred; or
- By Agent: contact your independent agent to file a claim for you
However, before you file a claim, understanding what caused the damages to your home or belongings and whether that damage is covered is key to determining whether to file a property insurance claim. Statistics compiled by the Insurance Information Institute (III) show that wind and hail damage is the most common homeowners claim!
Your policy with Preferred Mutual sets forth what is covered and to what extent, so be sure to read your policy carefully or speak with your agent to go over your policy with you!
Here are other common causes of damages that are likely covered by your Homeowner’s Insurance policy:
- Water damage (burst pipe*)
*Typically, water damage like floods, or normal wear and tear and earth movement are not covered by your standard policy.
What’s My Deductible?
Although you may have a covered loss, the cost of the damages may not exceed your deductible, so filing a claim might not be the right choice. Minor damages, such as a few roof shingles that blew off in a windstorm, will often cost less to repair or replace than the total amount of your deductible. Generally, if you decide to file a claim that is paid, then your deductible will be subtracted from the total amount of your covered loss!
Are There Special Policy Limits That May Apply to My Loss?
Typically, unless you extend your standard policy to include valuables, payment for damage to certain types of property may have a special limit. Items such as jewelry, comic books, collectibles, or other valuables, may be limited. This is something to consider when thinking about whether to file a claim.
If You Decide to File a Claim with Preferred Mutual
If you decide to file a claim, using any of the options provided above (email, phone, online or by your agent), promptly notify Preferred Mutual that you are filing! Getting the process started as soon as you have had time to assess the damage, we can work quickly to resolve it! In the meantime, if you make temporary repairs, you should keep a copy of all receipts and provide them to your Claims Representative.
If you are confused about what is covered, be sure to ask your agent or Claims Representative to help you determine what the limits are on your policy, if any.
Preferred Mutual is always here for you with fast, helpful service when you need us most to Live Assured!
This information is intended for educational purposes only and is not legal advice and/or an authoritative guide.