Tips for Flood Insurance Claims
Floods are devastating disasters that can cause damages year-round. Unfortunately, one of the most damaging and common myths about flooding is that damages and losses will be covered by commercial property or homeowner’s insurance. Instead, you will need to have a flood insurance policy in place. Our experts on property claims in Central Florida offer the following tips for handling flood insurance claims:
When you experience flood damage:
- If your business, apartment, or house has suffered damage due to a flood, call your flood insurer or agent right away to start the claims process.
- In the event of a catastrophic flood disaster, file a claim with your commercial or homeowner’s insurance immediately, even when you do not have a flood insurance policy.
- When flood areas are declared federal disaster areas, you may need proof of claim rejection from your commercial or homeowner’s policy to be determined eligible for federal assistance.
- If a denied claim is later accepted, you will have to reimburse any FEMA funding or financial assistance not exceeding your settlement for the claim.
- Flood-related damage to commercial or personal vehicles, even when garaged, is not covered under a commercial or homeowner’s insurance policy. However, your auto insurance's comprehensive coverage usually covers vehicle damages due to disasters like floods, subject to your applicable deductible.
Tips for facilitating settlements for flood claims
- Be sure to keep a detailed property inventory on hand before a disaster occurs. This should include video recordings and photos when possible. Do your best to keep receipts from any major purchases and store this information outside of the insured premises as a precaution.
- You are required to take specific steps to prevent additional damages following flood-related property damage, including boarding your house up to discourage looting.
- Get estimates for structural damage repairs.
- Be sure to keep detailed records of incurred additional living expenses resulting from other accommodations while your home is being repaired to previous living conditions.
- After your insurance company determines that your claim is a covered benefit, they will assign an adjuster to verify the claim and decide the loss amount. Most claims get settled quickly, but some require an investigation.
- Like with any insurance claim, it is always best to understand your policy fully and know you have proper coverage before a disaster or accident happens.
Although most insurance companies have policyholder service representatives available to handle questions about your policy, experts encourage individuals looking for further information on flood insurance coverage to visit their state’s Division of Insurance website for valuable information.
These are just a few tips for handling flood insurance claims. Contact us today for property claims in Central Florida. Our public insurance claims adjusters are here to help manage your insurance claim, work with your insurer on your behalf, and get you the entire settlement amount for your property loss claim. We have the experience and expertise to handle complicated insurance paperwork, provide proof of your loss, negotiate with your insurance company for you, and secure a settlement in line with the actual value of your loss.