Filing Insurance Claims | Clearwater Credit Union
Filing Insurance Claims
Accidents, fires, floods, windstorms, leaking toilets, and more can all cause a lot of damage to your home. If you ever need to file an insurance claim, our Mortgage Servicing team can help you walk through the steps to get your home repaired.
Where to Start
First, contact your insurance company and report the damage. To file a claim, you’ll need the following information:
- A copy of your insurance claim showing line-item damages, repair costs, and the adjuster’s contact information.
- A copy of the signed contract with your contractor, if applicable. Be sure it includes an itemized budget for repairs.
- Plans and specs for the repair(s), if applicable.
Hire a Contractor, If Needed
If you hire a contractor, please ensure they’re licensed and that you get and keep an itemized list of the repairs and their associated costs. You’ll need this for your insurance claim.
Clearwater Will Hold the Insurance Money
Because your mortgage loan is with Clearwater, once your insurance company disburses a check, they’ll make it payable to both Clearwater and you. We’ll hold those funds in your savings account and release them to you or the contractor once repairs are complete. That’s why it’s very important to keep our Mortgage Servicing team informed throughout the entire process.
Getting Your Home Repaired
Once we’ve approved the budget and repairs, your contractor can then begin work on your home. Be sure to keep track of expenses and save EVERY receipt, including small items associated with the repairs. If your contractor requires a deposit, if there are additional repairs or add-ons needed, or if you have any questions, give us a call at 406-523-3360 or email reservicing@clearwatercreditunion.org.
Final Inspections May Be Necessary
Depending on the complexity of the repairs, we may require an inspection to ensure the work was completed satisfactorily. This is for both your and our protection. Once complete, we’ll process a final disbursement, which can be deposited directly to your Clearwater savings account, or you can choose to receive a cashiers check.
In addition to your insurance claim, you could qualify for federal aid if you live in a FEMA-declared disaster area. Visit disasterassistance.gov for more information.
Have additional questions? Just contact your Mortgage Servicing team at 406-523-3360 or email reservicing@clearwatercreditunion.org