When tragedy strikes your home it can leave your world completed rattled, and having to deal with filing your insurance claim is stressful enough without adding complications. Unfortunately, there are many mistakes that homeowner’s make that render their claims null and void, right at the worst possible time.
However, the savvy and smart homeowner knows how to avoid these mistakes at all cost, follow procedures, read the fine print, and have that insurance check delivered without any delays. If you’re interested in being one of these homeowners, here are a few things to check off of your homeowner to-do list!
Read Your Policy’s “Fine Print”
When obtaining a new policy, for any form of insurance, there’s quite a bit of paperwork involved and it’s easy to cut corners. However, taking a few extra minutes to actually read through the policy could potentially save you the cost of a house—worth it, huh?
Pay extra attention to your policy’s “Exclusion Clauses” and note what is not covered by your policy; typically this is flood and earthquake damage. Other common exclusions that many homeowners may not be aware of include: sewar line backup, claims related to running a business from you home, dog bites, and trampoline related injuries. You can obtain coverage for these by paying extra, and if you live in an area that floods or gets rattled by earthquakes frequently, it’ll be a good idea to get that coverage.
Don’t Lie On Your Insurance Application
This is applicable advice for any form of insurance application, as all insurance companies want to save their money. The second that they receive your claim, they’ll begin investigation procedures to try and discredit it, so they don’t have to deliver a payout.
So, not only will you not receive your claim, but if you’ve gotten away with having previous claims fulfilled without them catching the lie, the insurer will usually sue you for the amounts previously paid—yikes!
Pay Your Premiums—and On Time!
Unfortunately, tragedy can strike at any time and doesn’t it always seem like it happens right at the worst possible time? Don’t let this be the case with your homeowner’s insurance policy. Keep up with your premiums, and pay them on time.
Let’s say you’re a month behind on your payments, and tragedy strikes; your insurer has the ability to deny your claim, regardless of if you paid on time for the last ten years.
Don’t Be a “Negligent” Homeowner!
You might think, “Whew! My house was destroyed by a hurricane, so now I don’t have to deal with that old worn out roofing problem and can just buy a new house with the insurance money!”, and you’d be wrong.
Your insurance company will absolutely conduct a full investigation of your home and if they stumble upon your poorly maintained roof, your claim may be adjusted due to negligence—even if the hurricane would have destroyed the house regardless.
Readers: Have you filed a homeowner’s insurance claim recently? How was the experience?