Handling a Loss

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No one expects a loss to occur. But when you suffer a loss to your home or business property, knowing what to do can make the experience less stressful. Follow the steps below and you will be on your way to recovering from the loss in just a short time.

Here are some things to do before a loss ever occurs:

1. Keep a list of all the contents in your home, and put it in a safe place not in the home. A safe deposit box works well.

2. Take pictures and update the list annually.

3. Review your policy annually. The cost of replacing your home rises each year. Make sure you have enough coverage. Also, you may have recently acquired some belongings in the last year which need more coverage than the standard coverages provide.

Here are the things to do when a loss occurs:

1. If the loss is caused by theft, notify the police immediately.

2. If the loss involves a credit card or bank transfer card, notify the credit card company or bank immediately.

3. Report the loss to your agent immediately. When reporting the claim, please have as much of the following information as possible:

a. Policy number
b. Date of loss
c. Description of Damage
d. Cause of Damage
e. Police report number if loss was caused by theft

4. Protect the property from further damage or loss.

5. Make reasonable temporary repairs to prevent further damage and protect the property.

6. Keep and accurate record of these repair costs.

7. Make a list of everything that has been damaged or stolen. List as much detail as possible. Receipts, canceled checks, and credit card bills are especially helpful.

No one wants a loss to occur. But by following the steps mentioned above, you can reduce the stress you will experience if a loss does occur.