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While we consider our homes a safe space, the reality is that a home invasion can happen to anyone. Knowing about the types of coverage offered by your homeowners’ insurance plan is one of the best ways to prepare for potential losses. There are several insurance policies that can help you recover after a burglary: personal property coverage, dwelling coverage, and other structures coverage.
Personal Property Coverage After a Home Invasion
Personal property coverage covers the cost of your stolen or damaged personal items. There are two types of personal property coverage to be aware of. The first, “replacement cost” coverage, covers the amount to replace damaged or stolen items. For example, if you had a laptop stolen during a home invasion, replacement cost coverage reimburses you.
The second, “actual cash value” coverage, covers the value of the stolen or damaged items. For example, if the laptop that was stolen was an older model, actual cash value coverage would only cover what you could sell that laptop for today; since items often depreciate, this value may be less than what it would cost you to replace the laptop.
Dwelling coverage helps pay for repairs caused by the break-in. In most cases, this would include replacing broken windows or door frames. Most dwelling coverage policies ensure that any damage to the dwelling receives repairs with the same quality materials.
Other Structures Coverage
Other structures coverage helps pay to repair damage to detached structures. For example, a detached garage or a shed if the damage occurred during a home invasion. Many home insurance policies include other structures coverage as a standard part of the standard policy, but it may be limited to a percentage of your overall dwelling coverage.
What to Do After a Home Invasion
If you have experienced a home invasion, it can be hard to think clearly about the next steps. Following these steps will ensure that the claim process goes smoothly:
File a Police Report
It is important to contact the authorities as soon as possible after a home invasion. That way your insurance provider may ask for the case number or a copy of the police report to start on the claim.
Take Pictures or Video
It is a good idea to take pictures or record a video of any damaged property. This includes windows and door frames, as well as any damaged items in and around the property. This expedites the claim process and helps get those repairs done more quickly. If you need to make any emergency repairs, such as replacing a broken window, save the receipts for any expenses related to the repair.
Make a list of the items that were stolen or damaged during a home invasion. Be sure to write down estimated values and include receipts whenever possible, especially for more expensive items, Thus, your insurer can more quickly process the claim. In some cases, insurers may ask for serial numbers, warranties, or bank statements to verify purchases, so keeping these documents in a secure location as well as preparing a home inventory list is a great way to be prepared in advance for a potential break-in.
File a Claim With Your Insurance Company
You can contact your insurance provider right away. However, filing a police report and documenting any damaged property and stolen items help your insurance agent process your claim quickly. Your insurance provider uses the information provided to review your coverage. Then, they help you recover your losses after a home invasion.
Protect Yourself After a Home Invasion
If you have questions about your current coverage, or if you would like to learn more about the type of homeowners’ insurance you may need, contact an IMA representative today.
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