12 Awesome Tips About Property Insurance Lawyers From Unlikely Sources

When going through the aftermath of a disaster such as a hurricane, earthquake or fire, one of the first steps you will take is to contact your home insurance coverage company to be able to file a claim. But having an insurance coverage policy and filing a claim isn't a recipe for total reimbursement; often times, home insurance coverage claims get denied.

One way to help ensure that your important claims are not denied is to learn the a variety of reasons that may cause an coverage company to deny it. While the following list is definitely not exhaustive, it does share many of the most common 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 someone has been negligent in maintaining his or her property. For instance, if your roof falls into your home as result of a hurricane that will not be considered negligence but an accident. But if your roof caves in because you've got termite damage that you neglected to treat then your insurance will likely deny the claim.

Facts are not presented on the application: Coverage applicants are anticipated to be truthful when submitting an application for coverage. If, after making a claim, your insurance coverage company finds that you're not honest on your initial application for coverage it's possible that the policy may be rescinded and your claim denied. When policy is rescinded the premiums paid are typically refunded and it's as though the policy was never issued.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; if they pay late or don't pay at all, they're going to not be reported to the credit reporting agencies and may not be sent to collections. On the contrary, policyholders must pay their premiums on time if they expect their insurance company to hold up its end of the bargain. It doesn't matter how many years you've 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 coverage policy will not offer carte blanche coverage for just about any disaster that could damage your home. Even when something is not as a result of your negligence, it still might not be covered on your policy. One example is damages that occur due to floods are not covered by home insurance policies; instead, they're covered by flood coverage policies. Other examples include earth movement such as 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 an issue that you should understand. Your insurance agent may even be able to help you locate a supplemental policy that can cover some of them.

The claim amount was less than the deductible: If your house insurance coverage policy has a deductible, then that's the amount that you need to pay or absorb for damages that occur. Only damages that exceed this amount are reimbursed by the insurance company. Your policy could have several unique 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 if perhaps you store business property in the home during off hours, then that property insurance representation may be excluded from coverage under your personal home coverage policy. Commercial insurance is essential to cover property that is owned by or utilized by a business. Even when you run a very small business out of your house, unless you have a special endorsement your house insurance policy that specifies your business assets are covered, your claim could possibly be denied.
One easy way to reduce the likelihood that the home insurance coverage 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 learn how your coverage should be designed in order that it affords you the top protection.