Insurers are tightening their standards and restrictions so before you call to file a homeowners insurance claim and have it denied, ask yourself these questions:
- Do you know specifically what your policy covers/excludes?
- Was the damage from a sudden, acute circumstance or from a chronic issue over time?
- Have you taken photos/videos to document the damage?
- Have you spoken with your insurance agent to get his guidance on how you should proceed?
It's very important you have this information BEFORE you contact your insurance company about the damage.
Let's take an example:
1) You had sudden water damage in the bathroom from a broken water pipe. You take photos and call the insurance company to file a claim. In the process the company asks a number of questions about the damage and finds out that the pipe has leaked before. Since there was a previous chronic condition, the company says it won't approve a claim, but notes are entered into your record about the call.
2) Then you lose a piece of jewelry and call the company to see if it's covered on your policy. You don't have a jewelry rider and it may not be covered on your standard homeowner's policy (depends on the exact circumstances) so you don't file a claim. But the notes about that conversation are recorded in your record.
3) Sometime later, you have a lightning strike on your house and lost a number of expensive electronics. You file a claim and it is approved.
A month before your renewal date, you get a notice from the insurance company that you are not being renewed. Why??
Because your history indicates a frequency of incidents that increases your risk, and the company chooses not to retain you.
This is why it's so important that you have an experienced independent insurance agent you can call BEFORE you call the insurer about filing a claim.
He knows what your policy covers and understands the company's history for approving claims and renewals and can help you with how to proceed.
Protect your home and your future. Call me today for a quote of a homeowners insurance plan tailored to your needs that provides peace-of-mind coverage: 706-726-1446.