If something happens to your home, you have the right to call in a claim as a home insurance policyholder. At some point, the insurance company will want you to get an estimate for the work you need to have done so that they can pay the claim if they approve it. When you go through this process, it will be wise to get at least two different estimates for the damages. Here’s why you should do that:
Prevent Insurance Company Interference
You must never forget that insurance companies have secret agendas going on. One plan is not to pay a claim at all, and the other is to save as much money as possible when doing so. Thus, your insurance company may want to send you to their personal provider. The figure they give you for the damage might help the insurance company avoid paying a fair amount.
Even worse, it may give them the "proof" that the accident wasn’t as impactful as you said it was. You can protect yourself from this sort of incident by hiring at least one other company for an estimate. You might find that the two prices are vastly different.
Have Documentation for Court
You may need to have documentation for court if your insurance company vehemently refuses to pay your claim or provide you with a good benefit. In that case, the second or third opinion and estimate will give your lawyer a good idea of what to ask for in the settlement request. You have a right to take your insurance company to court if you don’t think they handled your case well.
Give Yourself Peace of Mind
The best reason to get another property damage estimate is to give yourself peace of mind. It’s not fair to continually put yourself in a position where you feel stress. You especially don’t have to do that if you request various estimates as a home insurance policyholder. You will have a much stronger leg to stand on with your insurance company, and you can even have the tools necessary to prevent provider bullying and interference.
Keep the Settlement Fair
It’s always better to have at least two opinions on anything you do, and it keeps the entire process 100 percent fair for everyone. Thus, getting that extra number will ensure that the whole process stays legitimate and not one-sided.
Ideally, you should want to get three estimates. Three estimates will give you a closer idea of the average cost for repairs a lot more than only two. If you can get a few more, you can solidify that average figure even more.
Now you know several reasons to get more than one estimate for the damages. Think about contacting a couple of companies in the area that can assess the damage to your home and how much it might cost your family. You can keep the playing field level by taking the time to get enough numbers from the providers to protect yourself.
Categorised in: General