A Financial Rant: Our First Insurance Claim
This is the first of many moments where my perfect executed financial plan does not go perfectly. There is no such thing as perfect; and my family, like most others, will have days/weeks/months where nothing is going according to plan.
Most recently we had a huge wrench thrown in our monthly budget. Our basement flood. Not the easy clean up flood. The full sewer, get out your rubber gloves, send the crew kind of flood. The whole experience was a first for me. And the smell…. let’s just say a night at a local hotel was needed.
This situation was just the beginning of a downward spiral of unfortunate events. Lots of confusion involved.
We decided to go through insurance. The deductible was less of a hit then the overall cost of the damage. A first for our family. We have never gone through insurance for anything. This includes our vehicles. I did some extensive research and even though our insurance payment will increase, our out of pocket with insurance was still going to be less of a hit.
There was more to come….
Dealing with insurance was not a joyous experience. There was no, “oh yay we get everything newer and nicer”. No it was they come in assess the damage, make everything you have seem like it is worthless, and make a decision on how much they think your damage is worth. Remember they are the professionals and have been at this for way longer. So trying to inform them how much you think something is worth is a waste of your breath.
Finally the final assessment came from the insurance company. Yippie! Wrong they sent us a small amount to get us going. They would not send us the final payment till all work was completed. Yes, this means we had to pay out of pocket for EVERYTHING! I of course called and questioned why they wouldn’t cover the rest. Their response “Well currently your house’s value has decreased by this amount, so therefore you will not receive the remainder of the funds till you bring back the value of your home”. I was picking up what she was putting down. So I sucked it up and moved on with my day. Luckily we have our safety stash and I knew I would be reimbursed shortly.
Buying carpet was miserable. I hated every moment of it. I would rather have a cavity filled. Carpet dealers are hustlers just like most salesmen. I get they work for commission but I just had a basement smelling like poop cause my appearance in your store, not like I was in there to remodel anything exciting. So after multiple discussions with carpet people. P.S. Go to different companies, shop around, they are all willing to drop the price if they know you are looking elsewhere. Once again, salesmen.
Carpet was selected and installation was scheduled. I felt like I was right at that finish-line!
Wrong again…. That dang insurance lady with her curve balls. Please send pictures along with the invoice??? Like the invoice wasn’t good enough. I am honestly shocked they didn’t need to come over and inspect every corner. Anyways, I send the pictures over with the invoice. She sends back a message with the final payment details.
WHAT!!!! My insurance company does not cover installation cost, only material. ARE YOU KIDDING ME????
Moral of the story… read the fine print, ask a million questions and never, I repeat NEVER flush baby wipes down the toilet. Buy flushable ones here!
Thank you for reading my first of many financial rants. Please Contact me for any questions about my page or this post!