You may think the answer is simple. Make sure to get a home security system quote, choose the most comprehensive home insurance option, and pay your premiums on time. There is a little more to make sure that you can reclaim your losses after a burglary, though.
While we all like to think of insurance companies as faceless no-men, there are several legitimate and reasonable reasons that they may not reimburse you for your stolen goods. First, one must keep in mind the rampant propensity of insurance fraud. Second, insurance companies would be bankrupt in a day if they didn’t have some protective measures in place. Rather than focus on what’s already lost, the best measure is to take preventative action. So today, we look at the essential tips for ensuring that you can reclaim your losses and damages after a home burglary.
Proof That You Were Not Responsible
Suppose your kid went to college and had all their stuff stolen, and you later learn they had been leaving their dorm room door wide open when they went out partying. Who would you hold responsible for their stolen stuff? This is the thinking that you need to put into your security. But, of course, insurance is a must, and safety won’t always prevent a burglary. Still, when you can show that you took all possible precautions to avoid such an occurrence, you have a higher chance of seeing your claim paid out.
Similarly, insurance companies can’t always cover negligence. For example, suppose you left home without setting your alarm system. In that case, you could argue that you made the burglary easier to commit. So ensure always to take the maximum precautions to protect your home, and think of your insurance as a safety net if all else fails.
Read The Insurance Agreement
This sounds self-evident, but not everyone is 100% clued to the various terms and conditions that may affect an insurance claim. So be sure to read every bit of fine print. In all cases, it is best to know beforehand if there is anything that may render your claim defunct. These clauses are usually reasonable if you are with the right insurance company. They may stipulate the use of specific types of security systems, as well as other measures such as locking your vehicle parking bay at all times.
Receipts And Photographic Evidence
You should always specify items you want to have covered in your insurance policy, even if your insurance provider doesn’t require you. To avoid paying out on fraudulent claims, many insurance providers may require proof of purchase. This is just another reason to keep receipts for any valuable goods. Further evidence of ownership can be supported by photographic evidence.
Although it may seem like easy money, never submit a claim for items you no longer own. This is a severe legal infraction, and you can see you face prison time and hefty fines. Instead, it is best always to keep a receipt of sale. If you have not yet removed the item from your insurance coverage when the burglary occurs, notify your insurance company.
By informing them of items you do not need to claim on, you follow the law and create additional goodwill and credibility between yourself and your provider.