Homeowners Insurance – All You Need to Know About Most Common Claims Types

By Adams Bridges

Filing home insurance claim is the main purpose behind buying your insurance policy. If you face unforeseen mishap like water, electrical, fire damage your homeowners insurance will protect you from financial disaster. On the other hand filing claims on minor damage will make your rate skyrockets. So avoid small claim unless your property suffer serious damage or high-priced items were stolen from your house.

Water damage claim: what types of damage covered and what is not?

Water damage related claims are huge burden on companies. That is because water damage is the most common type of claims. Usually homeowners insurance providers deny any claim caused by negligence, wear and tear and any loss due river overflow or sewer backup. On the other hand any sudden incident such as burst pipes, frozen pipes and damage related to roof leaks is fully covered by your policy and the company will reimburse you for your loss.

Theft claim: what to do if your home was broken into?

homeowner’s insurance protects you and your family against any loss due to burglary. Theft claims increase during Christmas season when the homeowner leaves his property vacant. If any of your property were stolen, first of all you must file a police report and give them full description of the stolen items. Then call your insurer agent to inform him about the robbery incident details, receipts of stolen belongings, police report number and your home contents inventory.

Electrical surge claim: a peril is covered under your Homeowners insurance.

Standard home insurance policy covers you against damage caused by electrical surge or loss related to voltage spikes. In other words if your washing machine was damaged from power surge your insurance provider will reimburse you on a basis of a replacement cost. On the other hand your insurer will compensate you not more than $2000 if you claim on expensive items such your laptop that was damaged by electrical surge.

Fire claim: make sure your policy adequately covers your dwelling.

Fire damage caused by power surge or wildfire is one of the most causes of insurance claims. Home owner’s insurance providers not only pay to repair the damaged dwelling structure and to reimburse you for destroyed home contents, but also to remove smoke damage from walls and ceiling. The company will cover your additional living expenses such as hotel, new clothes and medical expenses if your home was unlivable until repairs are done.

Filing a home insurance claim is a time-consuming effort unless you know your policy coverage limits and how to expand your settlement.