What is a Property Damage Claim? - Atlantaluxuryrentals
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Property Fire Damage Claim

What is a Property Damage Claim?

As a property owner, seeing severe damage being inflicted to your home or business is stressful and tolling. Regardless of whether it was an accident, or a result of a natural disaster, it can be heartbreaking to find that you’re left displaced until repairs are completed. At this point, your next step should be to file a property damage claim, so the payments on property repairs aren’t all out-of-pocket. However, you may have to deal with a property damage claims adjuster before you can earn compensation.

But what is a property damage claim, and what does the process entail? And for that matter, what is a property damage claims adjuster? Below, we answer all of these questions and more. 

What is a Property Damage Claim?

Although your insured property may have been damaged by a recent fire, a falling tree, or a recent accident, there is some form of compensation you can look forward to when you file a property damage claim. “What is a property claim?” you may ask. 

A property damage claim, or a property claim, is a formal request for compensation that you file if valuable property, one covered by an insurance policy, has been damaged. Here, the term ‘damage’ encompasses plenty of things, from a broken window to a flooded basement. It can also cover somewhat intentional acts such as acts of vandalism such as graffiti. Regardless of the scale and extent of the damage, you are still entitled to some form of compensation when these actions result in some damage to your property.

What is a Property Damage Claims Adjuster?

Now that we’ve answered the first question, “what is a property claim?” Let’s move on to the following question: “What is a property damage claims adjuster?”. 

A property claims adjuster represents the insurance company and is sent over once a claim is submitted to verify each claim. During the investigation process, they perform several tasks, including inspecting the extent of the damage to the property, reviewing police reports (if any), speaking to witnesses to verify claims, and talking to property owners to discuss the specifics of a claim. 

Types of Property Damage Claims

There are four types of property damage claims that you can file and receive compensation for, which include:

  • Residential Property Damage Claims. Claims on damage to residential property are one of the most common types of claims being filed at insurance companies. In the event of a natural disaster such as a fire, or a tree falling on your home due to strong winds, then most insurance companies should cover this immediately. However, when the damage occurs as a result of someone’s negligent actions, then you may need to head to court to seek compensation from the other party.
  • Commercial Property Damage Claims. Damage to commercial property is typically included in most business insurance policies. These can include damage to the actual property, general liability, and loss of income due to business interruption. In most cases, however, the goal of each insurance company is to pay as little of it as possible, making commercial property claims more tedious to deal with.
  • Motor Vehicle Damage Claims. When you get involved in an accident while on the road, the responsible party should be obligated to compensate you for the cost of repairs or pay you the current market value of your vehicle. Otherwise, your auto insurance should cover the damage. 
  • Personal Property Damage Claims. Aside from damage to real property and your car, you can also seek damage claims for damage to personal property. These can include personal items like electronics, jewelry, furniture, and decorative items, among other things.

What Does House Insurance Cover?

We’ve talked about the claims process. But what does house insurance cover, exactly? Well, most home insurance policies provide comprehensive coverage when it comes to damage to your property, regardless of the source of the damage, as long as it’s not intentional. These can include a variety of reasons, as mentioned above.

Liability coverage also covers different aspects of your home, such as your bedroom, kitchen, or bathroom. This cover can also extend to your possessions such as your furniture, clothing, and even your home heating and cooling system. Outdoor possessions such as your fireplace, swing set, garden, fences, or lawn are also covered in your house insurance policy.

In most cases, most home insurance policies also cover swimming pools and other recreational equipment. However, you may need additional liability coverage for such items, so it’s best to check your policy to know what is covered and what is not.

It is also important to note that if you have been displaced due to the damage to your home, you can seek reimbursement for expenses incurred while renting a living space while your home is being repaired or rebuilt. Most home insurance policies cover living expenses during home repairs, so it is important to check your policy details to know how much coverage you can expect.

Find a Luxury Dwelling While You Wait

Being displaced by significant damage to your property can be incredibly difficult and stressful for you and your family. Having to deal with repairs to your home and an arduous property damage claim process can further add to your stress. 

One way to relieve the stress during the waiting period is to find a luxury rental space so you and your family can rest comfortably during this challenging time. Atlanta Luxury Rentals offers comfortable rental spaces for you to have a space that you can call home while you wait for the claims process to push through and the repairs on your home to complete.