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Your Policy Requires that You Act Promptly

Your insurance policy requires that you mitigate your damages. That means that you are required to do what you reasonably can do to protect your property from further damage. If you don’t mitigate your damages the insurance company could deny coverage for any additional damage due to the delay.

There are other good reasons to act promptly. As a part of your insurance policy you agreed to pay a deductible. That means that you have agreed to pay any initial covered costs up to the dollar amount of your deductible. If you have a $1000 dollar deductible, you will be required to pay any covered costs up to that amount. The insurance company will then pay any covered costs in excess of that amount. If the cost to restore any damage to your property is less than your deductible, you can save money by mitigating your damages. By acting promptly, you could help to reduce the damages and thereby save you from paying out of pocket costs.

Additionally, you might have possessions that are irreplaceable from a financial or sentimental viewpoint. By acting quickly you could make the difference between the items being restorable or a total loss.

Some of the things that you can do to mitigate your damages can include but are not limited to:

While the list above refers to actions that you can take after an event that causes damage, there are also things that you can do in advance to mitigate damages. Sometimes insurance companies reward mitigation efforts by offering premium discounts. Since mitigation may reduce the expected losses for the insurer, there may be a lower premium charged. Such discounts for wildfire mitigation are not uncommon. With regard to earthquake coverage, companies will often offer premium discounts for frame anchoring, securely strapping a water heater in place, or bracing cripple walls. Similarly, for hurricane coverage, insurers may offer discounts for roof bracing, hurricane shutters and straps, and retrofitted doors.

Additionally, prompt response to a water damage or a fire where water was used to extinguish the fire, reduces the possibility or the amount of mold and bacteria growth.