I've had an eventful last couple weeks and would like to see if I'm on the right track with everything and also ask for advice as well as next steps.
We were staying for a week in a Rental Home, when the home beside ours started to burn. In the process, our Rental Home was destroyed as well as all of our belongings we had for the week and our vehicle was damaged.
The owner of the home, where the fire originated (accidental fire, no malice intent), provided me with their home owners insurance and I promptly filled a claim. I spoke with the adjuster on Monday (9/22/08) and they were beginning with the case. I was able to give them contact information for the Realty company to prove I was there during this time and information to contact the owner of the home where the fire originated as well as a copy of the fire report.
Since then, I've been able to compile a detailed list of all items lost due to the fire with replacement value as well as acquire an estimate for the vehicle repair but have not been asked to forward these to the insurance company as of yet.
What else should I be doing? When should I call the adjuster to get an update if I don't hear from them soon. Do insurance companies typically give you a set value for personal items lost and then you can replace and if the value is more than the original reimbursement by the insurance company, you then simply send in a copy of the recipe for reimbursement of the difference?
Any other words of wisdom and advice would be much appreciated ... I've never been through a scenario such as this before.
Posted: 24 Sep 2008 05:54 Post Subject:
Forgot one further question ... I did inform my insurance company of what happened; however, I chose to file the claim with the liable parties insurance as to not file anything with my insurance unless all else fails. Is this the correct way to do things in order to prevent my insurance premiums from increasing, etc ... Even though my insurance company may be able to start reimbursement quicker and eventually get their reimbursement from the liable parties insurance ... Is this what's recommended ... if you can, file with the liable party not your own ???
Posted: 24 Sep 2008 06:43 Post Subject:
The other parties insurance is responsible for actual cash value, not replacement cost. You will want to note the ages of items as well.
If you file under your own policy, it would probably consider replacement cost and they would seek recovery for the actual cash value from the other carrier.
Posted: 24 Sep 2008 07:06 Post Subject:
Thanks for the response ...
For Example Sake, just so I understand everything ...
Say one of the Personal Items lost was a Pair of Ladies Dress Pants purchased 3 months prior to the fire at $60. The liable parties insurance would plug this into some sort of calculator to determine the value at time of the fire was approx. $45 due to depreciation but if filled by my insurance company, I would most likely get reimbursed the $60 (or some dollar amount and then allowed to replace and submit receipt for further reimbursement of difference) to replace the item ...
Is this correct?
If so, should I file under my insurance or continue with the claim with the liable parties insurance company? If filled with my insurance, I would have to pay my deductible, have a potential rate increase due to a claim until all is recovered by the insurance co. but we would be able to actually replace what we had ...
What would you do?
Posted: 24 Sep 2008 07:10 Post Subject:
Yes, that is correct... but unless the loss amount was substantial, and I don't think a weeks worth of belongings would be, I'd personally not file with my own carrier. I just don't trust property carriers and their rates (increases due to a claim).
Posted: 24 Sep 2008 07:31 Post Subject:
Ok ... Thank you ...
Is there any possibility that the insurance co. of the owner of the home where the fire originated may not want to pay for my damages because this fire was not intentional? Therefore, I may have to eventually file a claim with my insurance ...
I've been hearing that if a fire starts at a residence and then spreads to another residence that in some cases where the fire was not "intentionally" set then the home owner is not "liable" for the other homes and property burned ... is there any truth to this?
Posted: 24 Sep 2008 07:59 Post Subject:
In my above post I use the word "intentionally" maybe I should be using the word "neglectfully"
Posted: 24 Sep 2008 08:36 Post Subject:
It's possible but not likely. It does not need to be intentional, there just needs to be some negligence. Fires don't just happen to start. There is always a reason. If there is not a sudden accident that starts it, it's usually neglect to some degree.
Posted: 25 Sep 2008 03:54 Post Subject:
Just so I am clear: Just a portion of your personal possessions were lost?
Were you renting this place for a vacation or something?
You should consider Tcope's comment and determine how big your loss was and if depreciation is a concern or not. If the loss is small - just keep going like you are.
Posted: 25 Sep 2008 04:07 Post Subject:
Ontairo Broker ...
Yes, this was rented for a vacation ... Basically everything we had with us was lost, except the cloths on our back at the time ... We lost all of our clothing (pants, shoes, shirts, hats, etc ...), our electronics, our kitchen supplies that were taken, our bathroom supplies, etc ... along with damage to a vehicle (4 people total, 2 adult males and 2 adult females) ... All in all, the replacement costs for these lost items is just north of $10K plus approx $5K for the vehicle ...