In part one of this series which was featured in the July issue, Dave explained the challenges of when to make a claim – and when not to, to avoid having too many claims on your policy. This month, he continues to explain how a few claims can make your restoration company uninsurable – and how to avoid that problem.
Last month, we talked about the issue with claims frequency. However, I don’t want any of this information to scare you away from making a claim when you need to. In this article, you’ll find a list of situations that should always be reported as a claim. This is by no means an exhaustive list or a rulebook on what to report and what not to report. You should always reference your specific policy documents for conditions, duties, and requirements imposed on you as a policyholder and it’s a good idea to chat with your insurance agent on what to do. If you selected your insurance agent solely based on the cheapest coverage available in the marketplace, I would get an opinion from someone else on when to submit a claim under your insurance policies.