How to Properly Document Your Property for Insurance Claims
Recent events, both nationally and statewide, show how vulnerable all of us are to property damage. The key to a successful insurance settlement after a disaster often depends on how well you have documented your property.
When you need to make a significant disaster claim under your property and casualty insurance policy, a North Carolina property damage lawyer from Rhine Law Firm in Wilmington can help you get the largest reimbursements available–depending on your policy’s terms and conditions. We challenge low offers from claims adjusters and pursue every dollar a property owner is entitled to recover in order to rebuild.
Keep an Up-to-Date Inventory
By thoroughly inventorying your property and belongings, you can be prepared should the need for an insurance claim arise. Start by videoing your home or business room by room and documenting everything. Mention specifics during the video, such as “65-inch large screen smart TV,” with the brand name. Video or photograph the contents in your closets, pointing out the costlier articles.
Follow the same procedure with cabinets or drawers. Take advantage of home inventory apps, which make creating an inventory much simpler—and have the added benefit of saving it all to the cloud.
Finally, go outside and take photos or videos of the exterior of your property and yard. If there is extensive landscaping, provide plenty of pictures. Document any outbuildings, fencing, or other structures. Do not forget the contents of your garage, such as lawnmowers, bicycles, and power tools.
Create a Detailed Spreadsheet
Create a detailed spreadsheet to document your possessions, prioritizing high-value items and their replacement costs. While listing everything may seem overwhelming, having an organized record will make filing a claim significantly easier.
In the event of a disaster, you can quickly send photos, videos, and your inventory to your insurance provider for prompt processing. Attempting to reconstruct an inventory after a loss can be challenging and stressful, making proactive documentation essential for protecting your assets.
Eligibility for disaster assistance may hinge on substantiating your losses via an inventory. Having it on hand simply makes a difficult situation more manageable.
Keep Receipts for Major Purchases
In property damage claims, keeping receipts for major purchases is crucial for proving the value of damaged or lost items and securing fair compensation. Insurance companies often require this documentation to verify the cost, age, and condition of expensive property such as electronics, furniture, appliances, and vehicles before approving a claim.
Without receipts, insurers may depreciate the value of an item significantly or dispute its replacement cost, potentially reducing the payout. Having original purchase receipts, invoices, or bank statements strengthens your claim by providing clear proof of ownership and purchase price, making it harder for insurers to undervalue your loss.
Have Valuables Appraised
Having high-value items, such as jewelry, artwork, and antiques, professionally appraised is essential for accurately determining their worth and ensuring proper insurance coverage. Standard homeowners’ policies provide limited protection for these valuables, often imposing strict liability caps. For example, the Insurance Information Institute notes that jewelry theft is so common that most policies limit coverage to $1,500.
To adequately protect valuable possessions, homeowners can either increase their liability limit or obtain a floater policy, which offers broader coverage. While a floater policy is a more comprehensive solution, it requires a formal appraisal to establish the item’s value, ensuring adequate reimbursement for loss or theft.
How to Store Important Documents
To protect important documents from floods or hurricanes in North Carolina, store them in a waterproof and fireproof safe that is elevated above potential flood levels. For added security, place sealed plastic bags or waterproof pouches inside the safe to prevent moisture damage.
Consider digitizing essential records, such as property deeds, insurance policies, birth certificates, and wills, and store encrypted copies on a secure cloud service or an external hard drive kept in a separate, safe location.
If evacuation becomes necessary, keep a grab-and-go emergency folder with physical copies of vital documents in a waterproof case. Proper storage and backups ensure quick access to critical records and prevent permanent loss in the aftermath of a disaster.
Contact a North Carolina Property Damage Lawyer
Insurance companies are well known for disputing property damage claims or underestimating losses to limit payouts. If your home or business has sustained damage, an experienced North Carolina property damage lawyer at Rhine Law Firm can advocate on your behalf to ensure you receive full insurance benefits. Schedule a free, no-obligation consultation today.
About Us
Rhine Law Firm, P.C. serves clients throughout North Carolina and nationwide, specializing in complex civil litigation led by Joel Rhine. With expertise in personal injury, car accidents, property damage, sex abuse, and more, the firm is passionate about taking on challenging cases. They emphasize providing personalized legal representation, prioritizing their clients’ best interests while offering state-of-the-art legal strategies. Rhine Law Firm’s dedicated attorneys enjoy the fight for justice and are committed to guiding clients through complicated legal processes. The firm offers free consultations, flexible appointment scheduling, and Spanish language services.
