Homeowners Insurance Claim Problems
Is your policy up to date? Do you know what specific events/disasters are covered under your policy? What is your deductible amount? Homeowners often do not know the answers to these questions until a disaster strikes. Keeping up to date on your policy and what is included is key to properly submitting a claim.
The Average Homeowners Insurance Policy
The average homeowners policy usually covers damage to the property from natural causes such as lightning, windstorms, rain, hail, snow, sleet, ice, or fire. It will also cover damage frozen or ruptured pipes, damage caused by air conditioning or heating systems, or electrical discharges.
Flood damage and earthquake damage are not usually covered by a standard homeowners policy. If you live in an area that is prone to either of these disasters, you will need to have separate policies to cover these two events.
Basic policies also cover theft and vandalism up to a certain dollar amount. If you have certain high priced items in the home, such as an expensive engagement ring, you can purchase additional insurance to cover their replacement cost.