Highlights
- Safety should be prioritised over saving material property.
- Take photos and videos of the damage.
- It's important to call your insurance provider right away in the event of water damage.
'May PERAan' is SBS Filipino's podcast series which features financial experts seeking to answer the most common questions about money and finances.
Listen to the audio
"When you buy a house and you have a loan with the bank, you are required to take out insurance on your home. Not having insurance is a breach of your loan agreement," insurance broker Richard Labrador shares.
With this in mind, he also emphasises that there is a 72-hour clause included in home insurance plans wherein the provider will not reply to claims during bushfires; floods; severe rainwater and wind; earthquakes; explosions; and escape of liquids from pipes, tanks or drains."
Before doing anything
Prior to checking on the damage on your property and trying to fix it, Richard shares that it's important to make sure everything is safe and secure.
"Check if the area is safe first. Check if there are electricals that need to be turned off.
"If it's safe to remove some of the water so as there is less damage to the house, use a pail to catch any leakage and wipe down any wet areas."
Photos, videos and dehumidifiers
Richard says that when filing a claim, include photos and videos of the damage in your house.
"Call for emergency repairs. The insurance provider will cover this.
"Remember that in times of calamity, it might be difficult for you to find help when it comes to emergency repairs."
He says that an important tip in quickly drying an area is with a dehumidifier.
"This will help prevent mould in the home."
Call right away
Call up your insurance provider as soon as you can, so as to get immediate help.
"Keep calm and be patient," he shares, adding, "But expect that an assessor will come and check on the damage after 24-48 hours; after which, a report will be given to the insurance company for repair approval. "
Repairs
After the report has been filed, Richard says that the insurance provider will begin coordinating with you regarding scheduling repairs.
Hes says that the length of repairs will depend on the magnitude of the damage.
What can providers cover?
According to Richard, an insurance provider will typically cover emergency repairs (includes calls to handymen, roof repairs and plumbers); dehumidifiers and other materials used to tend to the damage; and repairs to damage on the property."
"If your property is unsafe, insurance will also cover your temporary stay somewhere else.
"If the contents of the property are insured, the provider will also cover the ones damaged."
Richard says that defects and normal wear-and-tear are not included in the cover.
"This is why it's important for you to do property maintenance, such as cleaning out gutters."
