You have bought a house in Oregon and obtained insurance for it. A natural disaster occurs and you suffer massive losses in terms of property. What do you do next? File a claim of course.
Understand your policy: Before you incur a loss, sit down and carefully read your insurance policy. If you have any questions at all about what is or is not covered, call your agent or company.
Make an inventory: List out all your household goods. Photos and videos can help document the things that you own and their value. It is important to list even small items such as kitchen utensils and clothing accessories.
Protect your property: Be responsible and prevent damage to your house and property. In order to collect on a claim, you must demonstrate that you tried to prevent further damage.
Notify your insurer: After a loss, tell your agent or insurance company as soon as possible. You will find the telephone number on your policy. Your insurer will tell you whether the loss is covered by your policy.
Sign a proof-of-loss statement: Within a month or two of the disaster, you will need to sign a sworn proof-of-loss statement and to provide a list of lost items and their values. The insurance company will pay you the actual cash value, save receipts for items that you replace. If you have replacement-cost insurance, you can estimate the cost to make repairs with new materials or to replace lost items with similar products within the next three months.
Evaluate the damage: An insurance adjuster will probably look at the damage to your property and estimate of losses incurred. The amount of money that the company pays t\you to compensate for the losses will be based on this estimate. Consumers should make sure that the estimate of loss covers all their losses and repairs necessary to restore the home’s structural soundness, environmental safety, and appearance. The estimate may address mold, mildew, and structural damage due to contact with water, although many policies exclude such coverage.
Need a second opinion?: If you disagree with the adjuster’s estimate of loss, you can always get an independent appraisal of the damage at your own expense. If you do, see to it that you hire a licensed contractor with a good reputation in the community. You can find out whether a contractor is licensed by the Oregon Construction Contractors Board from its Web site, www.ccb.state.or.us, or by calling (503) 378-4621. The Better Business Bureau, (503) 226-3981, is another source of information.
How to file a claim
Most states, including Oregon, use the safety net to protect consumers from financial loss if an insurance company becomes insolvent and is unable to pay claims. Oregon’s safety net is called the Oregon Insurance Guaranty Association. The association was established by state law and comprises of licensed insurance companies doing business in the state. It pays covered claims of Oregon resident policyholders and other claimants up to $300,000 if an Oregon-licensed insurance company becomes insolvent. Claims are paid according to terms of the original insurance policy and the association won’t pay any claim the insurance company would not have paid.
Another feature of Insurance is Oregon is that insurance carriers here also offer Manufactured-home coverage: This is done under a standard homeowner policy or under a manufactured home policy. There will be extreme differences and variances in both insurance covers and premiums. Compare products carefully before you select one.
The criteria for insurance coverage being extended to a manufactured home encompasses:
- High-quality continuous skirting
- Continuous concrete foundation or a manufacturer-approved pier system
- Anchors or tie-downs
- Age and quality of the home (usually 10 years or less)
- Pitched composition roof
Many companies will not insure the following risks:
- Homes with a wood-burning device not installed by the manufacturer
- Homes in unprotected areas
- Homes occupied by tenants
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