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ServiceMaster Restoration By Simons – Water Damage Restoration – Fire Damage Restoration – Homeowner’s Insurance

Suppose one thing has been clear from our recent homeowner’s insurance guide and blogs. In that case, policies and carriers vary widely, leaving homeowners with much misinformation and a big headache.  Here at ServiceMaster Restoration by Simons, we know clients are often under-informed about what their policy does and does not cover. We’ve made it our mission to help consumers demystify the insurance process.  We understand that talking to insurance agents can be intimidating, especially when you are unsure what questions to ask (or when you don’t realize what questions you should be asking).  That’s why we created this list of 5 questions we recommend asking your insurance agent to better understand your coverage.

FAQ

1. Is my home covered for the total replacement cost?

This is probably the most critical question you can ask!  You’ll want to find out if your home is only covered for market value or if it’s covered for the amount you paid upfront.  In some cases, it might only be covered for your loan value. If it’s covered for anything other than the amount it sold to you, you’re likely underinsured, and you’ll want to explore additional coverage options with your home insurance agent.  

2. How much coverage do I have for the contents of my home?

Usually, contents are covered as a percent of the home’s overall value. For example, some policies cover up to 50 percent of the home’s value, while others cover as much as 70 or 75 percent.  You can discuss your particular percentage with your agent and possibly add more coverage in the case of contents whose combined value exceeds your current policy coverage.

3. Am I covered for earthquakes?

You’ll want to find out if you are covered for earthquake damage because many policies do not include it as a standard. The same goes for coverage for flood damage. You can discuss the need for these types of coverage with your insurance agent, who will have location-based statistics and can advise you whether or not to add them to your plan.

4. Am I covered for water damage caused by sewer overflows or water pressure from below ground?

Like earthquakes, water damage from these sources is usually not covered by standard homeowners insurance policies.  But that doesn’t mean they are real problems you might face! In our opinion (after working hundreds of water damage jobs in the last year alone!), it’s worth a conversation about adding this coverage to your current policy.

5. How much is my Homeowner’s Insurance policy deductible?

The deductible is the amount of a loss you are responsible for. Your premium is how much you pay upfront for your homeowner’s insurance policy.  Finding out your deductible amount is vital to understanding your policy; that way, there won’t be any surprises if you file a claim.  Your agent can also help find the right balance between premium and deductible prices (usually, as one goes down, the other goes up).

How ServiceMaster Restoration By Simons Can Help

ServiceMaster Restoration by Simons professionals has dealt with our client’s insurance agents, carriers, and policies for years. Still, ultimately, your agent is your resource for understanding your homeowner’s insurance policy. We strongly urge you to give them a quick phone call. Take the first steps toward becoming an expert on your specific coverage. As always, feel free to call us for all your water damage restoration and fire damage restoration-related needs. Our professionals are on standby for your questions and concerns; dial 773-376-1110!

ServiceMaster Restoration By Simons is an MBE/WBE certified minority, women’s, and family-run company serving the Chicago Area. The business provides disaster restoration services for damages caused by tornadoes, water, fire, flooding, mold remediation, and a wide range of interior specialty cleaning (hoarder/clutter, post-construction) to residential and commercial customers. For more information, give us a call at 773-376-1110.