Insurance Claims Flashcards
1
Q
What is the first step in submitting a claim
A
Provide written notice of claim to warranty provider and homebuilder
2
Q
Is a homeowner responsible to mitigate any damage once claim is made?
A
Yes
3
Q
What are warranty providers responsible for once claim is made?
A
Handling the claim
4
Q
How is a claim handled?
A
Homeowner is contacted, the claim is evaluated, and repairs are lined up
5
Q
What guide do insurance companies follow to decide whether or not a claim is covered?
A
Residential Construction Performance Guide
6
Q
What can a homeowner do in the event of a dispute?
A
Compel the warranty provider to take part in mandatory mediation session
