Homeowners Insurance - How Long does it Take to Receive a Claim Check?

By Adams Bridges

After you filed a claim and the home insurance company adjuster investigated your property and the claim was processed and you get the approval. How long should you wait until you receive your insurance settlement check? It may take a few days or a few weeks. It depends on many factors such as the homeowners insurance provider, how many claims you filed later and the type of claim. But the following factors are the most important:

1- File your claim immediately and don’t waste a crucial time.

The date when you file a claim is one of most important factor that has a great impact on how much time you should wait to receive your claim check. That is why you should start quickly to contact your homeowners insurance agent to submit your claim before the filing claim time expired. Furthermore some incidents such as water damage require immediate repairing before the damage becomes a serious problem.

2- Fill out your claim forms and paperwork accurately.

In order to decrease the time needed to get your claim processed and to receive your check in short time, you should fill out the claim forms precisely and completely. If your homeowner’s insurance company found any missing information in your paperwork the settlement check may take longer time. Providing the adjuster with all information needed to investigate the property damage is a good approach to receive your check in a short time.

3- The ownership proof is important to receive the check without delay.

Home owners insurance fraud is a widely-spread problem. That’s why most of home insurance providers get so suspicious when it comes to settle an insurance claim. Especially if you have no proof of ownership such as receipt of purchase or at least a photo of the damaged or stolen property. If that is the case the claim settlement may take longer time to be processed and consequently the check will be delayed for weeks.

4- make sure you have copies of your claim form and paperwork.

After you fill out the claim form and before sending it to the insurance company you should keep copies of all forms, paperwork and other receipts related to the claim. They may ask you about any unclear provided information. Besides, having these copies as backup documents is very important to you if your claim documents have been lost or damaged. Your home owner’s insurance claim check will be delayed if your paperwork was mislaid.

You will receive your home insurance claim check in short time if you bear in mind the above-mentioned tips.

Auto Insurance in Louisville KY

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Dick Watts Insurance
502-245-3625
Louisville KY

Auto Insurance in Louisville KY

Auto Insurance in Louisville KY

• Safe Drivers
• Multiple Accidents
• No Prior Auto Insurance
• Speeding Tickets
• SR22
• DUI
• Suspended Drivers License
• Call us today for a free Auto Insurance quote in Louisville KY
  

Dick Watts Insurance
502-245-3625
Louisville KY

Homeowners Insurance Company Ratings Financial Strength

When buying homeowners insurance, choosing the right company may be significant along with imply the particular distinction involving homelessness along with expectation during a crisis. So that you can make certain that the month to month premium money exist once you require these, it is best to choose a professional insurance company, one that is usually financially sound and also has no

FEMA Flood Insurance Program Allowed to Expire

Greetings all, and sorry it's been a while since I have posted. But there has not been a whole lot of news to report until now. 

The Federal Government, in its infinite wisdom, has allowed the FEMA National Flood Insurance Program (NFIP) to expire as of yesterday, March 1 2010. This is due to the fact that one senator from Kentucky is currently blocking ALL legislation. The Flood Insurance Program has often been used as a political 'football', with senators and congresspeople in non-flood prone areas using renewal as leverage to get things they want.

The good news is that if you currently HAVE flood insurance, it will stay in force until your renewal date. We expect that Congress will take action very soon. The bad news is that if you were getting ready to buy a house, you can't currently buy FEMA flood insurance here on Long Island or anywhere else.

This will probably be taken care of within a few days, but if it's not, there are alternatives to the FEMA program that would enable you to go through with the purchase of your home. Contact us for more information.

How to Review Your Homeowners Insurance Renewal Statement

For most of us, our home is our single largest and most important investment. Many of us have poured thousands of dollars and countless hours into maintaining, improving and (hopefully) paying off our homes. Many people own their homes free of any mortgage. These assets are pure equity. Certainly its worthwhile to invest 15 minutes a year to be sure it's properly insured.

Thankfully, the insurance company offers you a perfect reminder and opportunity in sending out your annual renewal statement. Even if your insurance is paid by your mortgage company as part of your impound account, the insurance company still mails you a statement of renewal every year to update you with your current coverage limits and deductible.

Here's a few important steps you can take to be sure that HOME SWEET HOME is properly protected.

1. Check the basics. Check your name, address and any other description of the insured property. Make sure there's been no change of vesting or ownership that needs to be updated. Check your address to be sure no numbers are transposed.

2. Check the mortgagee clause. Here's where you can be sure that the current mortagee on your home is listed correctly. Check the lender, address and your loan number. Be sure there's no old information there. Maybe you had a HELOC (Home Equity Line of Credit) or a second mortgage that no longer applies. Be sure to get them removed.

HEADS UP: Whenever you have a significant claim, the mortgage company will be one of the payees on your claim settlement check. Just that alone can be an inconvenience. But it becomes a major hassle when one of the institutions listed no longer has a vested interest in your home. The insurance company is bound by contract to include the mortgage company on all settlement checks beyond a stated threshold.

*3. Check the coverage on your home (dwelling or building). This is without question the single most important coverage to examine, consider and adjust whenever necessary. Having been an agent during the two raging firestorms in San Diego, CA in this decade, I can tell you that underinsured homes are just NO FUN! Two of my clients lost their homes in the 2003 fires and fortunately they were both adequately insured. (we call all our homeowner clients once a year to review their coverages and suggest improvements and adjustments) But I can tell you that there were literally hundreds of people in the area that were not so fortunate. Many were underinsured by over $100,000! Contractors were giving rebuilding bids on homes for $400,000 with insurance policies with limits less than $300,000. See if that doesn't tweak your financial well-being just a little. Here's the solution.

Get an accurate rendering of the square footage of your home. Check county records, take a look at zillow.com, call your favorite Realtor, or get a tape measure and do your thing. Usually you don't include the garage in this calculation. Once you get your square footage, then you need to determine the building cost per square foot in your area for a home like yours. Call a local contractor for a quick estimate or you can call your insurance agent. Average costs in San Diego run about $200 per square foot. With that, a 2000 square foot would take about $400,000 to rebuild. Custom homes can be significantlly more. For a more complete discussion of this, check out: How Much Homeowners Insurance Do You REALLY Need?

Your contents coverage is usually 75% of the amount you have on your home. For example, if you have $400,000 on your home, you'll have an additional $300,000 to cover your personal property (furniture, clothing, dishes, TV, collections, shoes, tools, etc) Usually this is enough, but think through it anyway. If you have antiques, art, collections of any kind then you may need more. Ask your agent for help if you need to.

4. Look at your Personal Liability Coverage. This is the coverage you need when you get sued. Little Johnny runs across your front yard and trips on one of your sprinklers and ruins his chances to become America's Next Top Model and his parents sue your for $250,000. Make sure you don't scrimp here. It's not too expensive to get $500,000 or even $1 Million of liability coverage. If you have $100,000 or less, you could be setting yourself up for a mess just waiting to happen. Put a really big checkbook between your assets and someone who sees an injury as a lifetime paycheck. You might even consider a Liability Umbrella.

5. Check your 'special limits'. This is a REALLY BROAD subject that I just can't do justice to here in this post. Simply stated, there's limits on many things such as cash, computers, cameras, jewelry, furs, goldware, silverware, tools, etc. Call your company and ask for a review. You can increase many of these limits for just a few dollars a year. Sometimes the available increase isn't enough. That's the perfect time to consider a Personal Articles Floater (or it's called many different names) It's a policy that's designed to place stated amounts of coverage on many items from jewelry, business tools, iPods, hearing aids, cameras, musical instruments and on and on. If you have more than 'the average Joe' of ANYTHING, then check this out FOR SURE!

6. Check your deductible! This can be a tremendous cost-control tool in your insurance spending. Simply stated: The larger your deductible, the greater your savings. Usually you can save close to $100 per year just by going from a $500 deductible to $1000. Pick the largest number you can stand without losing sleep at night and ask your agent or company the savings you'd realize by changing. If you have a $250 or smaller deductible, it's definitely time to change it UP! Keep in mind that you usually hit a point of 'diminishing returns' once you get to $4000 or more. This means that you'll save less and less for each additional $1000 you choose. It might make sense to go from $1000 to $2000 if you save $85 a year by doing so, but not from $5000 to $6000 if you only save another $21 by making that jump.

Monitoring your insurance costs and coverages can result in a lot of savings AND peace of mind. Be sure you keep notes and file your thoughts and changes from year to year. These recoreds will make your annual call quicker and easier each year.

Feel free to contact me anytime if you have questions.

Till next time...


It's a Good Life !






Dennis Volz Insurance Agency
10791 Jamacha Bl, Suite 1, Spring Valley, CA 91978
OFFICE: (619) 670-1000 - FAX: (619) 670-1121
eMail:Dennis@DennisVolzInsurance.com
Websites: Company Site: DennisVolzInsurance.com

Driving on Snow and Ice- 10 safe driving tips

Driving on the Snow and Ice 10 Safety tips

""The best tip for winter driving: Sometimes it's best to stay home, or at least
remain where you are until snow plows and sanding crews have done their work. If
you crash on a snowy or icy road, you'll certainly be late — or worse. But since
you can't always call in to work claiming a "snow day," it's better to learn how
to correctly deal with driving in the snow.

Get a grip. To have adequate
snow traction, a tire requires at least 6/32-inch deep tread, according to The
Tire Rack. (New passenger-car tires usually have 10/32-inch of tread.)
Ultrahigh-performance "summer" tires have little or no grip in snow. Even
"all-season" tires don't necessarily have great snow traction: Some do, some
don't. If you live where the roads are regularly covered with snow, use snow
tires (sometimes called "winter tires" by tiremakers). They have a "snowflake on
the mountain" symbol on the sidewall, meaning they meet a tire-industry standard
for snow traction. ...." Driving on Snow and Ice 10 safe driving tips

Louisville Auto Insurance quote

Dick Watts Insurance

12200 Shelbyville Rd 112

Louisville, KY 40243

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