There are quite a few reasons why your homeowners' insurance carrier can deny your claim for damaged or stolen property. The most common reasons are coverage lapses as a result of nonpayment and delaying the filing of your claim. As a public insurance claims adjuster in central Florida, we have seen many claims denied over and over again for the same, common reasons. Normally overlooked, here are the most common reasons your homeowners' insurance carrier can deny your claim.
When you purchase a policy, you need to make sure you are reading it thoroughly. Besides the insurance-speak, the details of what are covered can be tricky. Coverage for theft and specific damages are typically provided. These specific events can include smoke, lightning, fire, and hail. On that same note, you may find that there are perils that are not covered in your policy.
Flood damage that is caused by hurricanes or heavy rain isn’t normally covered on standard policies. Same can be said for earthquake insurance. You are able to purchase separate policies that cover these perils. Normally, the coverage from the specific peril policies is only necessary when living in a location prone to a specific type of peril.
Most insurance carriers require that a claim is filed within a specific time frame of the damage occurring. If you hesitate for too long, you are going to be met with denial. Your policy terms will reveal your deadline, but you should always file your claim as soon as you can.
Let's say hail knocks out a window. If you don't take measures to prevent any further damage, then your claim may only cover the window. If you could sustain any water damage or other issues that come about when the elements are exposed to the interior, then you need to make an attempt to temporarily fix the problem until a permanent fix is made.
If you don't present enough evidence to back your claim, they will consider it incomplete and you risk denial. How can you prove that your stolen laptop belonged to you if you don't keep any documents or receipts?
Failure to pay your premiums on time can result in a lapse of coverage. If you are behind on your payments, you won't have the coverage that you need in the event of an emergency. Automatic payments or paying up front can make sure you have your payments in order. Letting your insurance lapse is not only a good way to lose coverage when you need it most, but it can also result in higher payments.
If you are concerned with your property claim, you may want to hire your own advocate. Contact our public insurance claims adjuster in central Florida to hear more about our services today.