How to File a Renter's Insurance Claim

Renter's insurance is a must-have for apartment dwellers and anyone else who rents his or her home. A good renter's insurance policy will protect your belongings in the event of fire, theft, vandalism, etc. Your policy will also provide liability coverage if you are at fault for any injuries or damage to others or their property. Though many renters have such insurance policies, very few actually know how to go about filing a claim. In the event that disaster strikes and you need to file a claim, here is how you should go about it.

1. As soon as you become aware of a loss, contact your insurance agent or company immediately. Many insurance agencies have 24-hour numbers you can call to file a claim at any time. However, if your claim involves a crime of any kind, such as a burglary or vandalism, you should first contact the police. File a complete police report on the incident.
2. Ask your insurance company for an estimate of how long it will take to process the claim. This is important information, as you could be without certain important belongings for a considerable period of time if your insurance company is not efficient. Also inquire about the requirements for repair estimates.
3. Complete the claim form your insurance company sends you. You may wish to supplement the claim form with pictures or video, if possible, of the damaged belongings. This will strengthen your claim.
4. Include a detailed inventory of the damaged items in your claim report. The more thorough you are, the faster your claim will be processed. Keep in mind that, depending the type of renter's insurance you have, you may be reimbursed for the replacement value of the item (the cost to buy the item new) or the actual cash value of the item (the worth of the item less depreciation).
5. If the covered loss prevents you from living in your home until repairs are complete, some policies may cover your living expenses in the interim. Keep copies of your hotel bills, rental bills, restaurant receipts, and other living expenses while your property is being repaired or rebuilt.
6. Once the claim is settled, payment should follow shortly.