You have home insurance for two reasons. First off, if you have a mortgage, your mortgage lender probably made it mandatory to protect the risk they were taking in loaning you the money in the first place. The second reason, whether you have a mortgage or not, is that you want to protect your own investment. If your home gets damaged, you want to know that the policy is there to cover repairs.
With that in mind, make sure you think carefully about the main types of damage that homes endure. Some examples include:
- Damage caused by high winds, such as that caused during a hurricane or a tropical storm.
- Damage caused by hail, which is more abusive to your home than typical weather.
- Damage caused by theft, or the loss of goods in that theft.
- Water damage that either happens because of a storm or because of some other factor, such as a broken pipe.
- Damage caused by a house fire, which can spread through an entire home much faster than most people realize.
Certainly, these are not all of the ways that your home can get damaged, but they’re some of the most common ones that are seen every day. They spur countless calls to insurance carriers all over the state.
Unfortunately, that does not always mean that the insurance company is going to agree to pay. What can you do if they deny your claim or reject that coverage when you need it most? Make sure you are aware of all of the options you have.