Insurance basics: filing claims for home and auto


It’s smart to review insurance basics every now and again and the Insurance Information Institute has produced some quick, simple videos on what you need to do to file a home or an auto claim. One important first step is to take the time to review your policies each year and understand what your policy does and doesn’t cover – ask your local agent if you have any gaps or exposures that leave you vulnerable. For example, most homeowners policies don’t include flood coverage. Or if you have valuables such as antiques, jewelry, or special collections, you may want to add coverage for those because your standard homeowners has coverage limits.

As for autos, here’s an interesting post on Gap Insurance and when it might make sense. Today’s long-financing options mean that you might owe more than your car is worth and you could be stuck should you total your car unless you have Guaranteed Replacement Cost coverage or Guaranteed Auto Protection (Gap insurance).

One other option is an umbrella policy, which would boost your coverage on your home and auto should you have a large lawsuit. Umbrella policies typically kick in after your regular insurance is exhausted. Learn more here.

OK, with those reminders, here are some basics about filing home or auto claims.