Before I began working at Mammoth, I thought I had a pretty good idea of how insurance worked: If you had a fire, they gave you money to fix what was damaged. If you got robbed, they gave you money to replace the stolen items. And … that was about it, right?
My time here has absolutely made me realize that it’s much more than that. There are so many things in my home that could misbehave at any moment – the ice maker, the washing machine and the furnace, just to name a few. But it has also made me more aware of how my home owner’s insurance policy works, and how to make it best work for my family and its needs. Remember, the only person who knows the specifics of your policy and your coverage is your insurance agent. Because the best time to know what your policy covers is before you need it, here are some things to talk to your insurance agent about before purchasing or renewing insurance:
Deductible — When a covered claim is filed, usually the only cost to the homeowner is the deductible. Because a higher deductible often yields a lower insurance payment, the temptation may be to sign up for a larger deductible in the hope that you will never have to file a claim. But, can you afford to pay the higher deductible amount if tragedy does strike?
Coverage caps – Some policies may cover certain less common specific perils, but there may be a cap, or maximum, on the total dollar amount covered. If you have a $10K maximum payout on trauma cleanup, and your total for cleanup and restoration is $15K, the difference could wind up coming out of pocket.
Sump Pump – If you have a sump pump, make sure you are covered in case it malfunctions and causes flooding.
Replacement costs – A house built in 1970 would cost less than building a new home today, thanks to the rising costs of materials. What would have cost $15,000 in materials and labor in 1972 may run $45,000 in 2016. If your policy does not include replacement of like, kind and quality, in this scenario, you would receive only one-third of the amount from insurance needed to put your home back the way it was.
Mammoth’s trained technicians will work with you and your insurance carrier to make sure you and your home are returned to normal with as little inconvenience, stress and cost as possible. So whether you file a claim or not, whether you’ve got water in your basement or a leaky roof, remember that Mammoth is here for you 24 hours a day, 365 days a year to tackle all of your restoration needs.