Prof. Daniel Schwarcz Provides Key Steps When Filing Insurance Claims After Natural Disasters

Professor Daniel Schwarcz, Fredrikson & Byron Professor of Law and Distinguished University Teaching Professor, provided some crucial steps on CNBC for homeowners who are filing claims after natural disasters like hurricanes. He said that in the event of a loss, homeowners have to give prompt notice to their insurer and have a duty to protect their property from further damage after the storm, make reasonable repairs, and have an accurate record of repair expenses. The receipts needed to be kept are for purchased materials used to prevent further damage on the property that’s already been damaged by a covered peril, meaning wind and trees, but not generally flooding unless the homeowners has a flood insurance policy. If homeowners don’t take such measures after the storm, and that inaction results in further damage, the insurer is not obligated to cover the loss, he said.