Storm damage? Here’s how to maximize your insurance coverage payout

WASHINGTON (DC News Now) — As several neighborhoods experience flooding Tuesday evening in the D.C. area, homeowners who face damage will review their insurance policies.

From flooded basements and ground floors to trees damaging roofs and siding, industry analysts say homeowners should review their existing policies whilst documenting damage.

“Keep your paperwork, keep your receipts, document, take pictures of everything,” said Shannon Martin, an analyst at Bankrate.

Of course, check your policy to renew your deductible – your out-of-pocket costs for repairs.

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If water floods into your basement, submersible pumps will help dry it out. Consider stretching your dollar by price-checking similar products before checkout.

While insurers utilize their own adjusters during the claims process, homeowners may consider hiring a public insurance adjuster.

“Most homeowners are going to benefit from using the adjuster provided by their insurer. If they’re unhappy by the settlement amount, or maybe there’s a catastrophic loss where they’ve lost their home and there’s a really high payout amount, that’s when they’re going to want to look into getting a public adjuster,” Martin said.

Martin added that homeowners should keep receipts, especially for any new items they’ve bought to help maximize their payout.

To ensure you are getting paid out what you are owed for potential future storm damage, Martin adds, “If you need to get tarp, nails, wood to board up your windows, usually you will get that money back through your home insurance payout regardless of whether it’s a federal disaster or not.”

Business Insider says public adjusters may charge between 5% to 20% of your final settlement depending on the scope of work.

In Maryland, the amount adjusters can charge is negotiable..

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