How to Successfully File a Claim for Your Rental Property

Are you a rental property owner who needs to file an insurance claim? 

Filing a property insurance claim can be daunting, but don't worry! Knowing where to start is often the most challenging part of filing a claim.

In this article, we'll walk you through the steps to successfully file an insurance claim for your rental property.

Locate the Insurance Company on Your Policy

The first step is figuring out which company handles your policy. Most people go about this by calling their broker. However, it's important to note that you or your agent will need to  contact the insurance provider directly to report any claims.

You can find the name of your insurance company provider by looking at your policy’s declarations page or the insurance certificate your broker or agent provided when binding your policy. 

The declarations page, or “dec page,” of an insurance policy is a concise summary outlining the coverage details and limits of your specific policy. It usually appears at the beginning or end of an insurance policy packet.

Search Online to Find the Insurance Company’s Website

Once you have the insurance company’s name, do a Google search using a phrase like “[insurance company name] file a property claim.” Most insurance companies have a dedicated page for filing a claim that will provide additional details and step-by-step instructions on starting the process. 

If you’re uncertain about any part of the claims process, don’t hesitate to contact the insurer directly via phone or email so they can answer any questions or concerns you may have.

Refer to the Declarations Page of Your Policy Document

The declarations page typically includes information such as named insureds, property address, types of coverage, limit amounts for each type of coverage, deductible amounts, and policy effective dates. 

When filing a rental property claim, refer to the declarations page which will outline what your policy coverage includes and how much you might recover after any losses are sustained to/at the rental property (e.g., dwelling loss due to fire). 

You should review all aspects of this section carefully. You will want to ensure that the coverage provided by your policy is sufficient to cover the potential cost of damages or losses.

Store the Declarations Page for Easy Reference

Finally, keep a copy of the declarations page in an easily accessible place, like on Google Drive or Dropbox. This document will be necessary if you decide to switch insurance carriers or if there are any changes to your existing policy. Doing this will also ensure that all your insurance information is up-to-date and accurate when filing a claim for your rental property.