Homeowners insurance is necessary to protect your home and personal property in case of disaster. The basic reasons that a home owner needs insurance is to pay for the costs of repairing damages on the home and property, replacing stolen property, and for personal liability.
There are specified circumstances that policies protect against, and the policy clearly outlines these. The insurance company has a clear responsibility when a claim is made by one of their policy holders. The insurance company very specifically details everything in a home insurance policy. They want to make sure they have a valid contract that spells out your rights and when you will be given or denied coverage.
In most cases insurance claims are valid and go through, but they can be denied as well. It's important to be aware of situations that will cause a denial, at least the more common reasons, in order to ensure that you are protected and that any potential claim you make is a good one.
The premiums you pay each payment cycle are an important part of your obligation to the insurance company. Home insurance is a service, just like any other service. The payment is made, and the protection is in effect. The result of not paying your premiums can be very expensive for you. Providing ongoing coverage is done with the expectation that they are going to received their payments according to the contract and agreement you both entered into willingly. If you neglect to make the premium payment on time and the policy lapses your claims will be denied.
Misrepresentation on the original application, failure to notify the company of a change in the use of the property, or the failure to advise the company that you have made some major renovation are all just causes for claim denial.
Take the time to go over your policy so that you accurately understand your rights, and if you have a claim denied, you will have an idea if there is cause or not. It may be a simple human or computer error in the filing system that resulted in your claim being denied incorrectly. In some cases, a newer claim adjustor may have made a mistake when interpreting the stipulations in your insurance policy.
Be sure to get your insurance company's denial of your claim in writing, complete with a written explanation as to the denial. Look at your insurance policy and compare the denial reasons to the policy language. If you see something that you believe is a mistake by the insurance company regarding your claim, put it in writing, and cite the particular sections of the policy that you believe to be significant to your case.
In the case where a significant discrepancy is found, it may be up to you to prove your side of the argument. Before you can file an appeal, gather evidence to support it. If you believe your claim was denied without reason and should be covered under your existing policy, you can try to file an appeal with your insurance company directly. They will provide details on how to make an appeal if you wish to do so. Make sure you document all evidence to support your claim.
There are specified circumstances that policies protect against, and the policy clearly outlines these. The insurance company has a clear responsibility when a claim is made by one of their policy holders. The insurance company very specifically details everything in a home insurance policy. They want to make sure they have a valid contract that spells out your rights and when you will be given or denied coverage.
In most cases insurance claims are valid and go through, but they can be denied as well. It's important to be aware of situations that will cause a denial, at least the more common reasons, in order to ensure that you are protected and that any potential claim you make is a good one.
The premiums you pay each payment cycle are an important part of your obligation to the insurance company. Home insurance is a service, just like any other service. The payment is made, and the protection is in effect. The result of not paying your premiums can be very expensive for you. Providing ongoing coverage is done with the expectation that they are going to received their payments according to the contract and agreement you both entered into willingly. If you neglect to make the premium payment on time and the policy lapses your claims will be denied.
Misrepresentation on the original application, failure to notify the company of a change in the use of the property, or the failure to advise the company that you have made some major renovation are all just causes for claim denial.
Take the time to go over your policy so that you accurately understand your rights, and if you have a claim denied, you will have an idea if there is cause or not. It may be a simple human or computer error in the filing system that resulted in your claim being denied incorrectly. In some cases, a newer claim adjustor may have made a mistake when interpreting the stipulations in your insurance policy.
Be sure to get your insurance company's denial of your claim in writing, complete with a written explanation as to the denial. Look at your insurance policy and compare the denial reasons to the policy language. If you see something that you believe is a mistake by the insurance company regarding your claim, put it in writing, and cite the particular sections of the policy that you believe to be significant to your case.
In the case where a significant discrepancy is found, it may be up to you to prove your side of the argument. Before you can file an appeal, gather evidence to support it. If you believe your claim was denied without reason and should be covered under your existing policy, you can try to file an appeal with your insurance company directly. They will provide details on how to make an appeal if you wish to do so. Make sure you document all evidence to support your claim.
About the Author:
Click on the following website link to compare home insurance prices. See more at: http://www.squareoneinsurance.ca/tenant-insurance.
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