what to do after a fire loss

Suppose your house is demolished and non-livable. In that case, your homeowner's insurance has a 'loss of use or extra living cost' policy that helps you to maintain your quality of living when coping with this loss. That ensures that your insurance policy will protect you from renting something similar in the interim if you're used to staying in a McMansion. This proposal would also include laundry facilities, dinners, etc. However, the trick to getting the best out of this strategy is to maintain accurate records and receipts of your expenses. Also, you would be wise to retain the services of an experienced fire damage lawyer. Insurance companies are notorious for underpaying valid insurance claims.

So that takes care of your immediate needs, but what's going to happen to your mortgage?

Let's say you have a $300,000 home with a $150,000 mortgage. This is protected by your home coverage scheme. When you first paid homeowner's insurance, your house was priced at a certain amount, which is your home's replacement value. There are a few caveats to this scheme, but what's crucial to note is that the bank will be compensated first. What's left is going to you. This is what you're using to restore your house or to buy something new. Some plans often cover closing expenses or a monthly stipend payment to cover a rise in interest rates.

All of this attention, and we haven't yet learned how to replace all of your things. Personal property coverage is what makes you pay for a new sofa, kitchen appliances, and shoes. You've got to have shoes. But how is personal property coverage working? Typically, it's a percentage of your home number. If your house is priced at $300,000 and you have 50 percent personal property coverage, you'll get $150,000 to repair it.

Your policy can also be broken down into a replacement expense or cash value. Replacement cost means that if you purchased your sofa for $1,000 10 years ago, you'd still get $1,000 to repair it today. Cash value means you're only going to get $100 because that's what your 10-year-old sofa is worth today. Your best bet for the smoothest transition possible after a tragedy is to provide a thorough list of all your belongings. You can contract a company to do this, or you can do it yourself. Either way, once registered, the information needs to be kept in a secure place other than your own home.

While all this is good stuff, it doesn't matter if you don't investigate your policy. It is invaluable to consider what coverage you have and what you should anticipate in the event of the unthinkable. Take this as an opportunity to contact your agent today. Increasing your coverage to where you feel safe may make you spend a little more than a few dollars a month, but knowing that you're going to be taken care of in a difficult situation is worth it. It's up to you and your agent to decide.

Checklist for House Fire

There are so many emotions and so many questions after a house fire that it's hard to know what to do next and who you call, where do you start, and when is it safe to get back home? There is the hope of redemption, of a new start, of a restored home, and Dick Law Firm is here to help. With so much experience fire claims, we know first hand how challenging this time is.

That's why we built this house fire guide to help you take the first steps towards recovery. Print this guide to keep you and your family secure while taking the required measures to recover safely.

After you have suffered from a fire loss, it is crucial that you:

• Do not enter your home until you have been permitted to be safe.
• Do not turn on the gas, water, or electrical services until they are considered secure by a specialist.
• Don't start or drive your vehicle if it has been hurt.
• Don't try to clean up some of the smoke or hurt the soot. Leave this to experts who have the right protective equipment and experience.

Here is a checklist of what to do after your house burns down:

• Get permission from Fire Department officials before you get back to the fire-damaged building.
• Contact family members and loved ones to let them know about the accident.
• Take care of scared pets and maintain their safety and comfort.
• Call all service companies (electric, gas, water) to let them know about the fire.
• Contact your homeowner's insurance agent to start the claims process. You can also contact an experienced home insurance attorney to file the claim for you.
• Texas law requires that a notice of an insurance claim be in writing. An experienced fire damage lawyer can do this for you.
• Understand and accept the details of the fire report provided by the fire department and make sure you have a copy of it. Having a copy depends on the state in which you reside and the cause of the blast. The fire report is an official document documenting the details of the incident. It is crucial for insurance purposes.
• Document all damage to the flames. Take pictures and detailed observations of property loss.
• Get precious possessions and irreplaceable heirlooms before you leave the house.
• Please call your local police department to let them know that your home will be temporarily empty.
• Let your children's school know that your children are going through a difficult period.
• Contact the post office to keep or forward your mail.
• Start the process of replacing essential documents lost during the fire (licenses, passports, birth certificates, etc.)
• Fires can be traumatic to the whole family. Take care of everyone's emotional needs and plan guidance, if applicable.
• Contact your nearest Red Cross or Salvation Army for disaster relief.