Seven Property Insurance Claim Lawyers Secrets You Never Knew

When going through the aftermath of a disaster for example a hurricane, earthquake or fire, among the first steps you will take is to contact your house insurance coverage company so that you can file a claim. But having an insurance policy and filing a claim isn't a recipe for total reimbursement; sometimes, home coverage claims get denied.

A proven way to help make certain that your important claims are not denied is to learn the many various reasons that can cause an insurance company to deny it. While the following list is definitely not exhaustive, it does share many of the most typical reasons for denied claims.

Negligence: A home coverage policy is meant to protect against a variety of incidents but if a homeowner's negligence contributes to the damage, it could cause the company to deny the claim. Home insurance coverage is meant to provide benefits for accidental damages and losses rather than those that occur because a person has been negligent in maintaining his or her property. For example, if your roof falls into your house as result of a hurricane that will not be considered negligence but a mishap. But if your roof caves in because you've got termite damage that you neglected to treat then your insurance coverage will likely deny the claim.

Facts are not presented on the application: Insurance coverage applicants are anticipated to be truthful when attempting to obtain coverage. If, after making a claim, your coverage company finds that you're not honest on your initial application for coverage it's possible that the policy may very well be rescinded and also your claim denied. When policy is rescinded the premiums paid are generally refunded and it is as even though the policy was never issued.

The premium is unpaid: An insurance coverage company has a contractual obligation to make good on the protections guaranteed in the policies it issues. Policyholders have no contractual responsibility to pay their premiums; should they pay late or do not pay Recommended Looking at all, they're going to not be reported to the credit reporting agencies and also will not be sent to collections. However, policyholders must pay their premiums on time should they expect their insurance coverage company to hold up its end of the bargain. It will not matter how many years you have had your insurance policy, if you neglect to make the premium payment on-time and also the policy lapses your claims will be denied.

Damage was caused by an excluded event for example flood: Your home insurance coverage policy will not offer carte blanche coverage for virtually every disaster that may damage your home. Even when something is not because of your negligence, it still may not be covered on your policy. One example is damages that occur as a result of floods are not covered by home insurance coverage policies; instead, they're covered by flood insurance coverage policies. Other examples include earth movement for example sinkholes and earthquakes and damages that occur during times of political unrest or terrorist attacks. Your individual policy may have its own group of exclusions and those are a thing that you should understand. Your insurance coverage agent may even be able to help you locate a supplemental policy that will cover many of them.

The claim amount was less than the deductible: If your house coverage policy has a deductible, then that is the amount that you need to pay or absorb for damages that occur. Only damages that exceed this amount are reimbursed by the coverage company. Your policy could have many different deductibles for various incidents and types of damage.

The damaged property was used professionally not personally: If you operate a business out of your house or maybe if you store business property in the home during off hours, then that property could be excluded from coverage under your personal home coverage policy. Commercial insurance is necessary to cover property that is owned by or employed by a business. Even when you run a really small business out of your home, unless you've got a special endorsement your home insurance policy that specifies your business assets are covered, your claim could be denied.
One easy way to reduce the likelihood that the home insurance claims will be denied is to ensure that the policy is setup to meet your specific needs. Give us a call today and allow us to help you discover how your coverage should be designed to ensure that it affords you the very best protection.