WHAT TO DO- AFTER THE FIRE!! 

 

 

 

We all hope that we never have to experience a fire in your home, but the possibility does exist. The following is part II of our “guideline” to assist you after the fire. Please remember that these are guidelines and just as each fire is different, your situation will dictate your actions.

Valuing Your Property

You will encounter different viewpoints on the value of your property in adjusting your fire loss or in claiming a casualty loss on your federal income tax. Knowing the following terms will help you understand the process used to determine the value of your fire loss:

• Your personal valuation: Your personal loss of goods through fire may be difficult to measure. These personal items have SENTIMENTAL VALUE to you; however, it is objective measures of value that you, the insurer, and the Internal Revenue Service will use as a common ground for discussion. Some of these objective measures are discussed below.
• Cost when purchased: This is an important element in establishing an item's final value. Receipts will help verify the cost price.
• Fair market value before the fire: This concept is also expressed as ACTUAL CASH VALUE. This is what you could have received for the item if you had sold it the day before the fire. The price would reflect its cost at purchase minus the wear it had sustained since purchase. Depreciation is the formal term used to express the amount of value an item loses over a period of time.
• Value after the fire: This is sometimes called the item's salvage value.

Restoration Services

There are companies that specialize in the restoration of fire damaged structures. Whether you or your insurer employs this type of service, be clear as to who will pay. Be sure to request an estimate of cost for the work to be done. Before any company is hired check their references. These companies provide a range of services that may include some or all of the following:

• securing the site against further damage
• estimating structural damage
• repairing structural damage
• estimating the cost to repair or renew items of personal property
• packing, transportation, and storage of household items
• securing appropriate cleaning or repair subcontractors
• storing repaired items until needed

Replacing Documents & Records

Here is a check list of documents you will need to replace if they have been destroyed, and who to contact for information on the replacement process.

 

Replacement Documents and Contact Information
ITEM	WHO TO CONTACT
Driver's license, Auto registration	Department of motor vehicles
Bank books (checking, savings, etc.)	Your bank, as soon as possible
Insurance policies	Your insurance agent
Military discharge papers	Department of Veterans Affairs
Passports	Passport service
Birth, death and marriage certificates	Bureau of Records in the appropriate state
Divorce papers	Circuit court where decree was issued
Social Security or Medicare cards	Local Social Security office
Credit cards	The issuing companies, as soon as possible
Titles to deeds	Records department of the locality in which the property is located
Stocks and bonds	Issuing company or your broker
Wills	Your lawyer
Medical records	Your doctor
Warranties	Issuing company
Income tax records	The IRS Center where filed or your accountant
Citizenship papers	U.S. Immigration and Naturalization Service
Prepaid burial contract	Issuing company
Animal registration papers	Humane Society
Mortgage papers	Lending institution

 

The following checklist serves as a quick reference and guide for you to follow after a fire strikes.

1. Contact your local disaster relief service, such as The Red Cross, if you need temporary housing, food and medicines.
2. If you are insured, contact your insurance company for detailed instructions on protecting the property, conducting inventory and contacting fire damage restoration companies. If you are not insured, try contacting private organizations for aid and assistance.
3. Check with the fire department to make sure your residence is safe to enter. Be watchful of any structural damage caused by the fire.
4. The fire department should see that utilities are either safe to use or are disconnected before they leave the site. DO NOT attempt to reconnect utilities yourself.
5. Conduct an inventory of damaged property and items. Do not throw away any damaged goods until after an inventory is made.
6. Try to locate valuable documents and records. Refer to information on contacts and the replacement process inside this brochure.
7. If you leave your home, contact the local police department to let them know the site will be unoccupied.
8. Begin saving receipts for any money you spend related to fire loss. The receipts may be needed later by the insurance company and for verifying losses claimed on income tax.
9. Notify your mortgage company of the fire.
10. Check with an accountant or the Internal Revenue Service about special benefits for people recovering from fire loss.

Robert Gentile; A.S., C.F. I.

Fire Investigator

Palm Beach County Fire Rescue