When you have been the victim of a terrible fire, you will be turning to your insurance for financial relief in the restoration process. Depending on the accuracy of your insurance claim, you may discover varying degrees of success. At KW Construction & Restoration-Colorado Springs, we offer assistance with fire insurance claims that can help streamline the claims process for customers in Manitou Springs, Castle Rock, Colorado Springs, Canon City, and throughout our service area.
Our IICRC-certified restoration professionals understand that the last thing you need when you have fire damage to your home is additional stress. That is why our proven professionals will handle your emergency fire damage clean-up and fire damage restoration services promptly and to your 100% satisfaction. At KW Construction & Restoration-Colorado Springs, we will estimate the extent of your fire damage, bill your insurance, and take care of content restoration and storage. For years, we have set the industry standard for comprehensive fire damage restoration services throughout the Central Rockies. To learn more about our company and services, call 719-873-6040 or click here to make an appointment!
If you were forced to evacuate your home or office because of a fire-related emergency, you may be able to ask your company for an advance against the eventual total of the claim to assist with day-to-day expenses throughout the restoration process. You will need proper documentation, including receipts for everything that you buy to address the displacement. Stay true to what you lost, and stay within your means.
Double-check your policy. Even if you have “replacement” coverage for the house itself, you may have “actual cash value” for the personal items that were in your home. A good agent will alert you to this and will suggest buying an endorsement so that your contents will also be covered under a replacement policy.
Each policy requires you to take reasonable steps to minimize the harm done to your property. In legal terms, this is known as your duty to “mitigate damages.” That includes providing emergency board-up services for your property during the restoration process. To mitigate damages, you may also take these additional steps:
Every policy requires homeowners to report their losses ASAP. You can comply either by calling your agent or sending an email. After that, you’ll be asked to submit a “proof of loss claim,” in which you itemize your losses and list each item’s value. If you delay notifying your insurance company, you may find yourself far down the priority list when it’s time to send an adjuster to handle your claim.
Your policy will most likely include a “loss of use” clause, which entitles you to reimbursement for living expenses while you’re out of your home. Unfortunately, you are entitled only to additional living expenses. This means that you are only entitled to the difference between what it costs you to live on a daily basis at home and what it costs now. For example, if you ate most meals in your own home before the terrible fire, and regularly spent about $300 a week on groceries, but are now spending $400 a week at restaurants, you can only claim $100.
Even though you can’t live at home, you still have to pay your mortgage, taxes, and insurance.
If there’s an “actual cash value” clause in your policy, you’re entitled to the full amount of money it will take to return your home and its contents to its market value before the fire. If you have “replacement cost” coverage, you’re entitled to the amount it would take to replace the home or contents, up to a limit that was fixed in advance and stated in your policy.
For either type of coverage, you’ll need an estimate of the prior market value or the cost it will take to replace the damaged items or parts. Your insurance company may offer its own estimates supplied by its own adjusters. Because the adjusters work for the insurance company, it’s always in their best interests to get you to accept a modest settlement as quickly as possible. Remember that you are not, in any way, obligated to accept their initial numbers if you don’t like them.
If you are in need of assistance with your fire insurance claim, the restoration & insurance experts at KW Construction & Restoration-Colorado Springs can help. To learn more, call us at 719-873-6040 or click here to make an appointment ASAP at your home or office in Manitou Springs, Castle Rock, Colorado Springs, Canon City, and other cities within our service area.