Farmers Insurance is committed to making sure customers have a positive claims experience. It is hard to say when you may need to make a claim; it may be in a year or it may be in twenty years. Either way, we understand that you want to feel that you’ve made the right insurance choices when it’s time. So, here are a few tips to ensure that you have a positive claims experience.
First, make certain you understand the insurance that you have purchased. Are you aware of what all it covers and the dollar amount of your deductible? If you are not sure, ask your agent. And, periodically remind yourself of these specifics so that you are not surprised years later when you realize you have to pay a certain deductible.
Next, make sure you know the real value of your possessions. For example, a jeweler may sell you a ring for $10,000 when in reality; it’s only worth $6,500. The opposite can happen as well. Some people may insure their building for $120 a square foot, but they may not be considering all their customized features and not have enough insurance to rebuild.
Also be aware that items replaced by insurance may not be immediately replaced dollar for dollar but by a “depreciated value.” In other words, if your roof is ten years old and its estimated lifetime is 30 years, then we will have to depreciate your roof. However, if you have replacement cost on your policy, as soon as you replace your roof (and after submitting your receipt) we will repay you the balance.
We understand that there can be a lot of paperwork involved when you sign up for insurance. Always know your coverage, the amount of your deductible and know the real value of your possessions. And, the first step in any claim is to call 1-800-HELP-POINT because the sooner you let us know, the sooner we can help you.