Homeowners insurance is necessary to protect your home and personal property in case of disaster. There are a few main things that home insurance is meant for, these are to protect from loss or damage to the property, and to cover personal liability, or theft.
Insurance policies specify what is covered, and they are required to protect against specified losses in these instances. Insurers also owe a duty of good faith to each policy holder in handling their claim. Insurers are very thorough when they write their homeowners insurance policies. The goal is to make a contract that is valid and has the rights of the company, policy holder, and the exceptions and conditions.
The majority of the time, a home insurance claim is accepted as it is legitimate, but at times, there are some claims that are denied. Study your policy carefully so that you understand fully what might result in your claim being denied, and be sure that you take this into consideration to ensure your claim will be accepted.
The payment that you make on your insurance each month is one of the more basic requirements that a home insurance policy holder must meet. Having home insurance is a service that is provided, similar to other services available to the consumer. The coverage is put in place when payment is made. You don't pay, and you could be in a world of trouble. The protection you receive as a home owner comes at the cost of the payment that you owe for the service that the company provides, this is your part of the contract. 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. There are cases where an error in the filing of your claim has actually led to an incorrect claim denial. 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.
You may be called upon to prove your case if there is a major discrepancy involved with your home insurance claim. If you are going to file an appeal for your denial, you need evidence, so be sure it is in order. When it appears that there has just been a mistake at the insurance company, filing an appeal with them may be all that is necessary to come to a solution. In this case, ask your insurance provider how to file an appeal with them. Before you file the appeal, take the time to prepare your case, and gather all applicable evidence.
Insurance policies specify what is covered, and they are required to protect against specified losses in these instances. Insurers also owe a duty of good faith to each policy holder in handling their claim. Insurers are very thorough when they write their homeowners insurance policies. The goal is to make a contract that is valid and has the rights of the company, policy holder, and the exceptions and conditions.
The majority of the time, a home insurance claim is accepted as it is legitimate, but at times, there are some claims that are denied. Study your policy carefully so that you understand fully what might result in your claim being denied, and be sure that you take this into consideration to ensure your claim will be accepted.
The payment that you make on your insurance each month is one of the more basic requirements that a home insurance policy holder must meet. Having home insurance is a service that is provided, similar to other services available to the consumer. The coverage is put in place when payment is made. You don't pay, and you could be in a world of trouble. The protection you receive as a home owner comes at the cost of the payment that you owe for the service that the company provides, this is your part of the contract. 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. There are cases where an error in the filing of your claim has actually led to an incorrect claim denial. 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.
You may be called upon to prove your case if there is a major discrepancy involved with your home insurance claim. If you are going to file an appeal for your denial, you need evidence, so be sure it is in order. When it appears that there has just been a mistake at the insurance company, filing an appeal with them may be all that is necessary to come to a solution. In this case, ask your insurance provider how to file an appeal with them. Before you file the appeal, take the time to prepare your case, and gather all applicable evidence.
About the Author:
Save money on your home insurance at www.squareoneinsurance.ca or visit http://www.squareoneinsurance.ca/tenant-insurance.
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