Property insurance is required for those who have private or government-sponsored mortgages on their property. Many people assume that if anything happens, the insurance company will take care of things and make up for the loss. These beliefs are correct but only up to a point as the insurance company requires following policies, procedures, and adequate proof. People often make critical mistakes that lead to their claims being denied. On average, 5.0% of property claims are filed every year with the insurance company to address damages from fire, wind, rain, theft, and injuries. Even though these levels are low, you never know when you will need to file property insurance claims in New Jersey.
The best approach is to understand the most frequent mistakes and avoiding them to ensure you are ready in the event something happens to you.
Read the Fine Print
Many people don’t know how to read their policy and place it in the drawer somewhere until they need it. These lax attitudes lead to challenges when it is time to file property insurance claims in New Jersey with the insurance company.
Inventory
Another big mistake is not having a list of your personal possessions on the property and keeping them in inventory. Many property owners assume that they will remember what they have and don’t plan for possible contingencies. When there is significant damage, the insurance company will ask you for an itemized list and its costs. Doing things by memory is more complicated, time-consuming, and there is a high probability you will not cover everything. Having an inventory list is a way of keeping track of these things and it ensures you are ready for anything that happens.
Lack of Maintenance
Many property owners put off doing maintenance for later and assume that it is not a problem when it comes to their insurance. They don’t realize that neglect will not be covered under their policy and is not applicable on property insurance claims in New Jersey. The effects are that when they do have damage, the insurance company’s adjuster will look for these issues and file them in their report.
We Can Help!
These are some of the most significant mistakes many people make regarding property insurance claims in New Jersey. Crestview Public Adjusters can help you to avoid these challenges by serving as an advocate for you. Anytime you have a loss, they will evaluate it using their team of trained adjusters. Call today at 212-481-0100 to learn more!
