People are sometimes scared to get insurance involved when they need flood damage restoration services, such as homeowner’s insurance because they’re afraid about their premiums going up. They think they can vacuum it up and that the problem will just go away. Hopefully, this kind of information will be helpful to homeowners to know that they need to review their policy and make sure they’ve got the right coverage so that they are prepared when they are in need of flood damage restoration services.
The fear of premiums going up can happen with any sort of water damage situation. Say you just had a flooded basement and it costs you around $10,000 to fix the damage and rebuild. Even if your premium is a hundred dollars a year, it’s going to take a long time to get to that $10,000 Mark. People purchase homeowner’s insurance and in my opinion, they shouldn’t be afraid to use it. It’s there for a reason.
Should I call my insurance company first or a flood damage restoration services contractor?
Most insurance policies say that you have a duty to mitigate the premises, which means stopping the damage from getting worse. Homeowners will definitely want to call a flood damage contractor for mitigation regardless of what your insurance company says. At the end, they’ll take the bill and settle up with it. If you have coverage, they’ll pay for it. If not, we can work with you on payment options:
- Financing options
How does a flood damage restoration company decide pricing for damage restoration?
The pricing is determined by an industry-standard system called Xactimate. A flood damage restoration company that works with an insurance company will use Xactimate to determine cleanup costs. It’s a per zip code pricing situation and most of the company’s using this system have similar prices. Only difference there may be is if it is an emergency situation. There is an emergency service charge and the overtime rate would apply. It’s a bit more expensive.
If you are concerned about the pricing and what coverage you will have can be found on your declarations page. The declaration page is going to explain if you have coverage for:
- Flood water
- Sump pump damage
- Sump pump overflowing
- Sewage backup water
Most policies do not offer those options unless you go to your insurance agents and say that you’d like to add extra coverage. If somebody has a sump pump and if their basement is finished, you definitely want to talk to your agent and let them know that you have a livable space down there and you have it draining with a sump pump. Finding out what coverage you have or can get will let you know what you would pay for if damage occurs.
Flood Damage Restoration Services
Have you had a recent flood and need help with flood damage restoration services? Give Excel Fire And Water Damage Restoration Services at call at (224) 412-5222 or click here to contact us.