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.
Monday, April 26, 2010
Saturday, April 24, 2010
Who Does the Homeowners Insurance Claim Check Go To?
Who does homeowners insurance claim check be made out to? If you completely paid off your home mortgage the claim check will be in your name or in your spouse name as policyholders. On the other hand if you finance your home and still paying your mortgage you have to read the following lines to know how to easily deposit or cash your claim check and start repairs.
After you make a claim and before you receive the claim check from your homeowners insurance company you need to review your mortgage contract or call the company to find out whether the lender after endorsing the check will keep it until the contractor finishes the repairs or they will allow you to deposit the check or cash it immediately to pay the contractor.
Your mortgage lender has nothing to do with your home contents they only care about your home structure because they lend you money to buy the building not the contents. That is why the claim check requires only your name if you file a burglary claim or any other claim unlike claims concerning Structural damage to your home and in this case your mortgage firm has to endorse the claim check.
In Some incidents such as fire damage, your homeowners insurance company will reimburse you for loss of both damage to property and damage to home structure. In this case the claim check will go to you and your mortgage company before the repairs takes place.
The homeowners insurance company requires you to get the approval of your mortgage lender on the claim check before you start the repairs. And in order to insure that you will spend the money on restoring your home the mortgage company has to endorse your settlement check so you must have it signed by the lender.
After the mortgage company receive the check they should approved it within a few days vary from one state to another. In case the lender delays in the check payments you have to send a complaint to your state department of insurance.
The homeowners insurance company- as a rule- issues the claim check to you as a policyholder and to the mortgage bank to protect their investment and interest. Then the bank keeps the check and pay by installment as long as the home is undergoing repairs. In case you decide to undertake repairs yourself your lender will give you the approval if ONLY you are a professional licensed contractor.
After you make a claim and before you receive the claim check from your homeowners insurance company you need to review your mortgage contract or call the company to find out whether the lender after endorsing the check will keep it until the contractor finishes the repairs or they will allow you to deposit the check or cash it immediately to pay the contractor.
Your mortgage lender has nothing to do with your home contents they only care about your home structure because they lend you money to buy the building not the contents. That is why the claim check requires only your name if you file a burglary claim or any other claim unlike claims concerning Structural damage to your home and in this case your mortgage firm has to endorse the claim check.
In Some incidents such as fire damage, your homeowners insurance company will reimburse you for loss of both damage to property and damage to home structure. In this case the claim check will go to you and your mortgage company before the repairs takes place.
The homeowners insurance company requires you to get the approval of your mortgage lender on the claim check before you start the repairs. And in order to insure that you will spend the money on restoring your home the mortgage company has to endorse your settlement check so you must have it signed by the lender.
After the mortgage company receive the check they should approved it within a few days vary from one state to another. In case the lender delays in the check payments you have to send a complaint to your state department of insurance.
The homeowners insurance company- as a rule- issues the claim check to you as a policyholder and to the mortgage bank to protect their investment and interest. Then the bank keeps the check and pay by installment as long as the home is undergoing repairs. In case you decide to undertake repairs yourself your lender will give you the approval if ONLY you are a professional licensed contractor.
Sunday, April 18, 2010
How Much Does a German Shepherd Raise your Homeowners Insurance Premium?
In case you are in the market for a German shepherd dog and afraid that your homeowners insurance rate skyrockets or you already have a dog and looking for a German shepherd friendly homeowners insurance company, you have to know whether insurance companies consider this breed as a high-risk investment or not and how your insurer calculates your rate if you own such breed. And how much does your premium increases if you buy a German shepherd and finally how to keep your insurance rate low.
40% of American families own at least one dog. You as a homeowner consider your dog as a live burglary alarm and that may protect your home from theft, but homeowners providers deem your German shepherd as an important factor that determines – in most cases – the increasing in your insurance because one-third of all claims filed by homeowners all over the country are dog-bite liability claims.
Homeowners insurance providers deal with this issue in vastly different ways. The majority of insurers refuse in the first place to write an insurance policy for a homeowner owns dangerous dog breeds such as German shepherd and bit-bull. Other companies may cancel your policy if you buy a German shepherd or may cancel your liability coverage related to dog-bite.
In case your insurer keeps your policy valid your homeowners insurance premium will increase up to $50 – $250 per year. Most of companies accept your first claim but any further claims will be denied if your dog bites someone. The inadequate liability coverage in majority of homeowners insurance policies make the homeowners afford 70% of hospital expenses and lawsuits compensation related to dog-bite.
To find dog-friendly homeowners insurance provider you need to get quotes online. It’s the easiest way beside it’s free and takes no time. Some insurers don’t discriminate against homeowners and they don’t care if you own a dog or not let alone dangerous dog-breed like German shepherd. To prevent any liability claims you have to enroll your dog in CGC program. Show your agent the dog obedience school certificate to keep your rate low. You should socialize your dog and put him behind fence if you expecting a delivery man or guests to arrive especially with their kids. that will keep your dog from attacking people, and consequently make your claim history clean.
40% of American families own at least one dog. You as a homeowner consider your dog as a live burglary alarm and that may protect your home from theft, but homeowners providers deem your German shepherd as an important factor that determines – in most cases – the increasing in your insurance because one-third of all claims filed by homeowners all over the country are dog-bite liability claims.
Homeowners insurance providers deal with this issue in vastly different ways. The majority of insurers refuse in the first place to write an insurance policy for a homeowner owns dangerous dog breeds such as German shepherd and bit-bull. Other companies may cancel your policy if you buy a German shepherd or may cancel your liability coverage related to dog-bite.
In case your insurer keeps your policy valid your homeowners insurance premium will increase up to $50 – $250 per year. Most of companies accept your first claim but any further claims will be denied if your dog bites someone. The inadequate liability coverage in majority of homeowners insurance policies make the homeowners afford 70% of hospital expenses and lawsuits compensation related to dog-bite.
To find dog-friendly homeowners insurance provider you need to get quotes online. It’s the easiest way beside it’s free and takes no time. Some insurers don’t discriminate against homeowners and they don’t care if you own a dog or not let alone dangerous dog-breed like German shepherd. To prevent any liability claims you have to enroll your dog in CGC program. Show your agent the dog obedience school certificate to keep your rate low. You should socialize your dog and put him behind fence if you expecting a delivery man or guests to arrive especially with their kids. that will keep your dog from attacking people, and consequently make your claim history clean.
Sunday, April 4, 2010
Homeowners Insurance – How to Get an Adequate Jewelry Rider Coverage?
By Adams Bridges
Jewelry rider is an endorsement insurance policy protects you as a homeowner from being underinsured. Jewelry is theft-prone items and it has a greater sentimental value than its material value. You have to be cautious when you decide your jewelry rider’s coverage amount. And how much do you get reimbursed if you file a claim.
Buying jewelry rider is a must for you to protect your jewelry.
Jewelry is a burglar’s favorite, because it’s expensive and easy to be stolen. Homeowners insurance providers limit the coverage of basic policy to $300-$2500 for expensive items. Hence jewelry is the most possessions need to be insured under a separate policy. Which is an additional policy beside your standard homeowners insurance coverage. Jewelry rider will cost you an additional premium, but you will be reimbursed for your jewelry if it is stolen.
Before you buy a jewelry rider, know how much coverage you need.
Homeowners insurance company calculate your premium based on how much is jewelry that you need to insure worth. For that reason you should hire a professional independent jewelry appraiser who will provide you with a document or a proof of ownership if your jewelry is damaged or stolen. Homeowners insurance companies put their trust in Appraisal made by GIA certified gemologist who will spare you unnecessary hassle if you file a claim.
Insure your jewelry on the basis of replacement cost not actual cash value.
To maximize the benefit of your homeowners insurance policies especially your jewelry rider you must insure your belongings at a replacement cost. That guarantees replacing your valuable gems if they’re stolen in theft with brand new identical items at the same price. On the contrary, having your possessions insured on the basis of actual cash value most likely limit your coverage and makes you underinsured.
Take an inventory of your jewelry to make sure you have enough coverage.
All homeowners insurance providers encourage the policyholders to make documented inventory and to continually update it. The inventory list is considered as reliable proof of ownership beside it’s one of the ingredients to determine your homeowners insurance rate especially if you buy more jewelry and consequently need more insurance coverage. It’s recommended to document your valuable belongings and its purchase receipts on a video tape and keep it in fire-proof safe.
Before you put your signature on the rider policy read the contract fine print. Decide precisely the coverage amount you need by having detailed inventory list.
Jewelry rider is an endorsement insurance policy protects you as a homeowner from being underinsured. Jewelry is theft-prone items and it has a greater sentimental value than its material value. You have to be cautious when you decide your jewelry rider’s coverage amount. And how much do you get reimbursed if you file a claim.
Buying jewelry rider is a must for you to protect your jewelry.
Jewelry is a burglar’s favorite, because it’s expensive and easy to be stolen. Homeowners insurance providers limit the coverage of basic policy to $300-$2500 for expensive items. Hence jewelry is the most possessions need to be insured under a separate policy. Which is an additional policy beside your standard homeowners insurance coverage. Jewelry rider will cost you an additional premium, but you will be reimbursed for your jewelry if it is stolen.
Before you buy a jewelry rider, know how much coverage you need.
Homeowners insurance company calculate your premium based on how much is jewelry that you need to insure worth. For that reason you should hire a professional independent jewelry appraiser who will provide you with a document or a proof of ownership if your jewelry is damaged or stolen. Homeowners insurance companies put their trust in Appraisal made by GIA certified gemologist who will spare you unnecessary hassle if you file a claim.
Insure your jewelry on the basis of replacement cost not actual cash value.
To maximize the benefit of your homeowners insurance policies especially your jewelry rider you must insure your belongings at a replacement cost. That guarantees replacing your valuable gems if they’re stolen in theft with brand new identical items at the same price. On the contrary, having your possessions insured on the basis of actual cash value most likely limit your coverage and makes you underinsured.
Take an inventory of your jewelry to make sure you have enough coverage.
All homeowners insurance providers encourage the policyholders to make documented inventory and to continually update it. The inventory list is considered as reliable proof of ownership beside it’s one of the ingredients to determine your homeowners insurance rate especially if you buy more jewelry and consequently need more insurance coverage. It’s recommended to document your valuable belongings and its purchase receipts on a video tape and keep it in fire-proof safe.
Before you put your signature on the rider policy read the contract fine print. Decide precisely the coverage amount you need by having detailed inventory list.
Thursday, March 18, 2010
Homeowners Insurance - How Long does it Take to Receive a Claim Check?
By Adams Bridges
After you filed a claim and the home insurance company adjuster investigated your property and the claim was processed and you get the approval. How long should you wait until you receive your insurance settlement check? It may take a few days or a few weeks. It depends on many factors such as the homeowners insurance provider, how many claims you filed later and the type of claim. But the following factors are the most important:
1- File your claim immediately and don’t waste a crucial time.
The date when you file a claim is one of most important factor that has a great impact on how much time you should wait to receive your claim check. That is why you should start quickly to contact your homeowners insurance agent to submit your claim before the filing claim time expired. Furthermore some incidents such as water damage require immediate repairing before the damage becomes a serious problem.
2- Fill out your claim forms and paperwork accurately.
In order to decrease the time needed to get your claim processed and to receive your check in short time, you should fill out the claim forms precisely and completely. If your homeowner’s insurance company found any missing information in your paperwork the settlement check may take longer time. Providing the adjuster with all information needed to investigate the property damage is a good approach to receive your check in a short time.
3- The ownership proof is important to receive the check without delay.
Home owners insurance fraud is a widely-spread problem. That’s why most of home insurance providers get so suspicious when it comes to settle an insurance claim. Especially if you have no proof of ownership such as receipt of purchase or at least a photo of the damaged or stolen property. If that is the case the claim settlement may take longer time to be processed and consequently the check will be delayed for weeks.
4- make sure you have copies of your claim form and paperwork.
After you fill out the claim form and before sending it to the insurance company you should keep copies of all forms, paperwork and other receipts related to the claim. They may ask you about any unclear provided information. Besides, having these copies as backup documents is very important to you if your claim documents have been lost or damaged. Your home owner’s insurance claim check will be delayed if your paperwork was mislaid.
You will receive your home insurance claim check in short time if you bear in mind the above-mentioned tips.
After you filed a claim and the home insurance company adjuster investigated your property and the claim was processed and you get the approval. How long should you wait until you receive your insurance settlement check? It may take a few days or a few weeks. It depends on many factors such as the homeowners insurance provider, how many claims you filed later and the type of claim. But the following factors are the most important:
1- File your claim immediately and don’t waste a crucial time.
The date when you file a claim is one of most important factor that has a great impact on how much time you should wait to receive your claim check. That is why you should start quickly to contact your homeowners insurance agent to submit your claim before the filing claim time expired. Furthermore some incidents such as water damage require immediate repairing before the damage becomes a serious problem.
2- Fill out your claim forms and paperwork accurately.
In order to decrease the time needed to get your claim processed and to receive your check in short time, you should fill out the claim forms precisely and completely. If your homeowner’s insurance company found any missing information in your paperwork the settlement check may take longer time. Providing the adjuster with all information needed to investigate the property damage is a good approach to receive your check in a short time.
3- The ownership proof is important to receive the check without delay.
Home owners insurance fraud is a widely-spread problem. That’s why most of home insurance providers get so suspicious when it comes to settle an insurance claim. Especially if you have no proof of ownership such as receipt of purchase or at least a photo of the damaged or stolen property. If that is the case the claim settlement may take longer time to be processed and consequently the check will be delayed for weeks.
4- make sure you have copies of your claim form and paperwork.
After you fill out the claim form and before sending it to the insurance company you should keep copies of all forms, paperwork and other receipts related to the claim. They may ask you about any unclear provided information. Besides, having these copies as backup documents is very important to you if your claim documents have been lost or damaged. Your home owner’s insurance claim check will be delayed if your paperwork was mislaid.
You will receive your home insurance claim check in short time if you bear in mind the above-mentioned tips.
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