FAQ: Will My Insurance Company Pay For The Repairs?

One of the most common questions our customers ask is, “Will my insurance pay for this?”. While the amount your insurance company will cover and the way they reimburse you varies depending on your policy, there are a few universal things you can expect.

What should I do first?

If your home has been damaged in any way, it can be overwhelming. You’re dealing with the shock of a loss and on top of that, you have to navigate the restoration and repair process. 

The best preparation is to get familiar with your homeowner’s insurance policy before your home has been damaged. 

Take your time reading through it, jot down any questions to ask your insurance agent, and gain a basic understanding of how it works.

If you don’t have a complete, current copy of your policy, ask for one from your insurance company. 

Keep a digital copy of the policy saved where you can easily access it from any computer or phone and keep a hard copy in a fireproof safe in your home.

It also helps to make a list of the contents in each room of your home and assign value to them, so you know exactly what it would cost to replace the items in your home.

How do I access the money to fix my home?

Most of the time, an insurance adjuster will inspect the damage to your property and offer a certain amount to cover necessary repairs. This amount is based on the terms of your homeowner’s insurance policy.

The way you receive these funds can vary depending on your policy and the circumstances, which is why you need to have a clear understanding of how your insurance policy works.

You could be offered an immediate settlement when your insurance adjuster completes their inspection or you may get multiple checks, one as an advance to get the restoration process started and then a final payment.

If your home is unable to be lived in while repairs are being completed, your policy might also cover additional living expenses.

Does renting or owning my home make a difference?

If you rent your home or apartment, then you will need to be familiar with your renter’s insurance policy and work with your landlord throughout the restoration process.

When you are a homeowner paying a mortgage, the funds for restoration might be made out to both you and your mortgage lender. 

If this is the case, be sure to talk to your lender and make sure you understand the process and what is necessary to move the restoration process forward.

When can repairs start on my home?

This depends on your homeowner’s insurance process. Some insurance companies will pay restoration contractors directly rather than reimburse the homeowner for necessary repairs. 

Your insurance company might have preferred contractors that need to be used or require anyone restoring your property to meet certain criteria.

Most insurance companies won’t authorize repairs to begin until after their adjuster has inspected your property and received an estimate for repairs from a restoration company. 

If you need to complete temporary repairs, be sure to keep every receipt so you can submit it to your insurance company for reimbursement.

Lake City Restoration Is Here To Help

In addition to being restoration experts, our team has years of experience helping homeowners and businesses navigate the insurance claim process. The process can feel overwhelming, especially on top of dealing with a damaged home. That’s why we’re here to help 24/7!

Our certified restoration experts can help you handle everything from working with your insurance adjuster to file a claim to getting your home restored as quickly as possible.

Originally published in 2021, this blog post has been updated to include the latest, most relevant information.