When a tenant calls about a broken pipe, your immediate concern is getting the water shut off to limit the damage. Then, you want to get repairs and any remediation started. At the same time, you are likely dealing with a displaced tenant whose mood is understandably dampened and other tenants who want to know when the water will be turned back on and if you’re planning to pay for them all to move into a hotel in the meantime.
It is understandable that your instinct in the moment is to put off filing your insurance claim until things settle down. But moving that to the top of your to-do list could have several benefits:
Your liability for injuries on your property can be affected by notice. If you were not aware of the hazard, you could not be expected to fix it. For example, once someone trips over your broken sidewalk and tells you about it, you become aware of the hazard. You need to file your insurance claim as quickly as possible so an adjuster can document the sidewalk, and you can begin repairs before someone else falls and gets hurt.
Your liability insurance includes coverage to help defend you from lawsuits, but legal actions have time limits. Reporting an incident to your insurance company before a lawsuit is filed can provide some legal advantage for your defense.
When part of your property’s roof blows off in a storm, you’ll want to get the structure dried in as soon as possible – so immediate repairs make sense. But before you begin working with a contractor, file your insurance claim. Your coverage has specific procedures to follow for property damage and repair, and everything starts with filing that claim.
Some policies limit the amount of time you have to file a claim. If you wait too long, the insurance company will not be obligated to pay for the damages. A timely claim will prevent you from running up against these limits.
If your property manager is injured at work, an insurance claim will initiate the workers’ comp process of treating and monitoring progress. Your workers’ comp coverage may also pay lost wages for the time the manager is unable to work. Filing your claim right away will keep your injured employee from having to wait for the help they need.
Peace of Mind
Once you file a claim, you will have the support of your professional insurance team to guide you through the claims and recovery process. Your experienced insurance agent can help coordinate communication with the adjuster, remediation team, and other contractors. Millers Mutual specialists will work with you to settle your claim as painlessly, reasonably, and quickly as possible. A timely claim means we can get to work for you right away.
An incident that causes damage to your rental property or an injury to a tenant or employee can be unsettling. It’s not a bad idea to make yourself an emergency to-do list and be sure filing your insurance claim is near the top of that list.
One of the best ways to contain the damage from an insured incident is to get the insurance company involved right away. Contact Millers Mutual to learn more about how we streamlined the claims process to make it easier and more convenient for you to file your claim and get our claims specialists working with you to resolve the damages.