1. Know the exact value of your home.

Getting an updated value of your home will help ensure you have adequate insurance coverage. For the most accurate value, work with a licensed home builder or appraiser.

2. Create an inventory list.

Creating a detailed inventory of your belongings, with photos or videos, is essential for homeowners insurance. This documentation acts as proof of ownership and the condition of your items. In the event of a loss or damage, it will expedite the claims process and ensure accurate compensation.

3. Know what the policy covers.

A standard policy typically offers financial protection in the unfortunate event of property damage or loss of possessions due to specific hazards such as storms, fire, theft, or vandalism. Policies also include liability coverage, shielding homeowners from potential losses through legal defense costs and liability claims. DTRIC’s homeowners insurance covers additional living expenses if the home is not fit to live in because of a covered loss.

4. Know what the policy doesn’t cover.

In Hawaii, specific policy coverage is required to protect against damages caused by hurricanes or flooding in low-lying areas. A standard policy may have exclusions for earth movements (landslides, earthquakes, sinkholes), power failure, government action, faulty zoning, bad repair or workmanship, or defective maintenance.

5. Get instructions on filing a claim.

Even before disaster strikes, learn the process of filing a claim. Knowing the steps to take in advance will allow you to move quickly on your claim and be compensated for your losses or displacement as soon as possible.

6. Document the damage.

To ensure maximum compensation, homeowners should document all aspects of a loss. This includes saving receipts, contracts, and appraisals and noting the names and dates of conversations related to your claim. It is also important to submit “before and after” photos and video (a smartphone works) of the damage to show proof of the extent of the loss. Detailed records should be stored in a safe place, including an electronic version as a backup in case hard copies are lost or damaged.