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So if there is damage done to your home and personal belongings, how do you get the money from your home insurance claim? Well, you may actually get more than one check. In most cases, an adjuster will assess the damage and then your provider will offer you a settlement. If you accept, what you will receive initially is more than likely going to be an advance on the overall settlement, not the entire amount you will receive. Don't worry, the rest is coming. That will be the next check as the claim is processed.
If you had personal belongings damaged or lost in addition to the structure of your house, you will receive separate checks for the building and the possessions. You may also be entitled to receive a third check for any additional living expenses incurred as a result of the damages and renovations being conducted. Make sure to keep receipts of hotel bills, clothing or any other items you may need to purchase during that time. Submit these to the insurance company promptly so you can be reimbursed quickly.
If you miss something the first time around, like damage that was not initially notice by the adjuster, contact your insurance provider about filing for additional money to take care of those issues. Make sure to do this quickly, though. The longer you wait, the greater the chance of setbacks becomes.
|Jennifer Mathes, Ph.D.|