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How to Understand a Homeowners Insurance Claim Process

A PRIME Insurance – National General Special 

PRIME’s partnership with the leading property insurance providers helps homeowners deal with losses and damages in an optimum manner. Below we list some of the most common questions posed to specifically to National General about related claims process, along with the clarifying answers.

Frequently Asked Questions about NatGen Premier Homeowners Claims Process – and the Answers!

Question: How are claim payments processed?
Answer:
NatGen issues a check immediately upon receiving the estimate of repair costs. In certain instances, NatGen can issue advance emergency payments so that additional living expenses or temporary protective home repairs can be made.

Question: What is the reason for placing the policyholder’s mortgage company on the claims payment check?
Answer: In regard to a larger loss, US law mandates that the policyholder’s mortgage company be placed on the payment check. This is because the mortgage company has an insurable interest in the repair of the damaged home. The policyholder must get directly in touch with the mortgage company in order to obtain instructions on how the funds will be released so that the repair work can start.

Question: Why does the payment reflect a lower amount than the estimated cost of repair work?
Answer:
The payment amount is lower than the estimated cost of repairs because the policyholder first pays an out-of-pocket deductible that is deducted from the balance. Should the policy deductible be $25,000 or less and the loss is more than $50,000, the policyholder will not be responsible for any deductible.

Question: How does the insurance company decide if a home needs to be repaired or rebuilt?
Answer:
NatGen confers with an engineer or builder in order to establish whether related repair work can be done without risking the building’s structural integrity. If the home structure’s safety is at risk or can be compromised due to the repair work, the insurance company will opt to rebuild instead.

Question: If the insurance company decides to rebuild, will the home need to be constructed precisely as it was prior to the damages?
Answer: No. The policyholder can implement any changes while the home is rebuilt. NatGen will pay for the restoration of the home to get its original state before any losses. Added costs for home improvement will be the policyholder’s responsibility.

Question: Who is responsible for the costs related to environmental friendly upgrading to the home during the repair process?
Answer:
If the policyholder selected the Green Upgrade Coverage Endorsement, he or she will be covered for up to $50,000 in approved environmentally friendly materials and means used to repair the home, without an increase to total limits.

Question: What does NatGen offer in the scenario when the policyholder’s home is verified as uninhabitable?
Answer:
In a case such as this, NatGen will help the policyholder and his or her family with immediate relocation to a suitable hotel. Should repair work be prolonged, the policyholder and family will be assisted in finding temporary housing in a convenient locale, close to the permanent home. Moreover, the insurance company will try to accommodate the policyholder with housing that complements his or her current standard of living.

Question: Is there a time limit that the policyholder can expect to be provided with temporary dwelling?
Answer:
As long as the policyholder’s permanent home requires repair work, the policyholder can expect NatGen to cover the costs of comparable temporary housing. Even if repair work exceeds the date of policy expiration, NatGen will continue the related coverage.

Question: In the event a home is deemed uninhabitable, how will the property be secured?
Answer:
NatGen will mitigate future loss by trying to secure the property. The policyholder’s adjuster can deal with any immediate matters in regard to future loss prevention.

Question: What is the manner in which NatGen determines the value of any contents that are damaged in the policyholder’s loss?
Answer: The NatGen Premiere Homeowner’s policy is designed to include replacement cost of a policyholder’s home contents. In the event an item was obsolete or was not in working or usable condition before the loss, NatGen will apply depreciation.

Question: How does NatGen ensure that the policyholder’s home contents are protected during the repair process?
Answer:
NatGen provides coverage for the transportation and storage costs associated with the contents of the policyholder’s home during the time it takes to repair the home.


Prime Insurance Agency provides all forms of competitively lowest quote coverage for NJ, NY, PA, TX, FL and other states. Tailored policies include auto insurance, commercial umbrella insurance, flood insurance, renters insurance, homeowners insurance, bonds, workers comp, life insurance and more. We invite you to experience what thousands of our satisfied customers vouch for - the PRIME excellence. Contact us via our insurance website, our email:  PRIME [at] primeins [dot] com or by phoning - 732-400-5242.

 

Summary: This homeowner’s claims guide is brought to you from Prime Insurance and NatGen Premier.

 

 


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