Hurricanes, tornadoes, floods, and earthquakes all have one thing in common: They leave a trail of devastation in their wake. In some cases, rebuilding may not be an option, but if it is, there are many important steps to take. Some are critical well before the ground trembles or the winds howl.
It can be easy to assume a homeowner's policy will cover these events, but knowing for sure is a better approach. Read all pages of insurance policies carefully, and call the agent or company with any questions or concerns.
From an insurance company's perspective, there's a huge difference between flood damage caused by rising waters as opposed to water intrusion resulting from winds. Regardless of the cause, in many cases, some instances of flood damage are not covered by homeowner's insurance.
The question to be answered is: What exactly is covered? While the lender's interest is usually covered, the homeowner's interests may not be, making it imperative to read the policy carefully and consider securing additional coverage.
Personal safety comes first. Turn off the electricity and cut water supply to leaking or broken pipes.
Assess everyone's personal health; if there were any injuries incurred in the storm, now is the time to have them addressed. Don't put off having a medical professional assess and treat cuts, bruises, or worse, to help prevent infections or a minor injury morphing into a serious condition.
A common mistake is to not completely secure a damaged building by using tarps or plywood to help prevent further damage. Another is to do DIY repairs that may not comply with local building codes and could affect insurance claims. It's understandable to want to get things back to normal as quickly as possible, but taking shortcuts isn't a good idea in this scenario. Take a breath, go slow, and do it right.
While most roofing companies are legitimate, scammers posing as roofing contractors and mold remediation companies pop up like mushrooms after a storm, so be careful when choosing a contractor. Call home offices of out-of-state contractors to confirm their legitimacy, and ask the insurance company for referrals.
Carefully review all credentials, licenses, and insurance policies. If a deal seems too good to be true, it might be wise to pass on it. If possible, arrange for the insurance adjuster and restoration contractor to assess the damage together. Place orders for replacement appliances and construction materials as soon as possible; if the damage covers a widespread area, delays can be expected.
After the storm has passed, the decision to rebuild, or not, is an important one, so consider all aspects carefully before you move forward.