Riddle noted that there may be questions about which section of the policy certain items — like a pool — fall under, and insureds should ask their representative to clarify the policy in writing.
The panelists repeatedly underscored the importance of documenting all communications with insurance representatives, and Riddle suggested that if a company requires policyholders to communicate via an app on a smartphone, or through an online portal, policyholders should screenshot and store all exchanges in a file on a smartphone or computer so that they have their own record of the discussion in case it’s inaccessible after logging out of the app or online portal.
The panelists also noted that fire victims should retain itemized copies of all receipts from restaurants, hotels, and any living expenses as they navigate the claims process, and take pictures of the receipts in case the ink fades over time.
What to Expect From Insurance Payouts
Insurance companies are required to provide policyholders at least four months of displacement expenses upfront for homes that are considered a “total loss” or uninhabitable. Insurers calculate that amount based on the monthly fair market value of the dwelling, or how much it would cost to rent your home for a month if it hadn’t been damaged, according to panelists.
