Hopefully, you will never have to deal with fire or storm damage to your multi-family property. However, if damage does occur, knowledge of the insurance claims process can help you get problems fixed as efficiently as possible. You should always keep a copy of your policy in a safe place. Read through the policy thoroughly so that you understand your protection.
Do not wait to take action when your property has been damaged. The property could become further compromised. The first thing you should do is thoroughly document all the damage that you can find. Take multiple pictures for your records. These will help you with the process of filing your insurance claim. Make note of the date of the damage.
Contact your insurance agent immediately. This will help you get started with the claims procedure. There are many facets to the insurance process. It’s a good idea to get in touch with a reliable, qualified contractor immediately. They can help you with the documentation process. Experienced contractors understand the types of damage that typically occur during fire and storms. They can help document damage that you may not find on your own.
It’s important to get a thorough estimate on repairs and rehabilitation from your contractor. This can help you compare estimates among service providers. Make sure your contractor is experienced with working on multi-family units. This way, they will understand the complexity of the job thoroughly. It’s a good idea to work with a contractor that has multi-faceted experience so that they can help you with all aspects of the repair project.
What if your insurance company provides a settlement that is less than the repair estimates that you receive? This is a common problem. Sometimes, insurance company data on the cost of repairs is out of date. In other cases, the insurance company misses some of the property damage that has occurred. An experienced contractor can help you in this situation. They will be able to negotiate with your insurance company to get the appropriate settlement for your repair needs. Your contractor can be an advocate for you during the settlement and repair process.