Common Reasons Why Your Home Insurance Claim Would Be Rejected
When disaster strikes, you turn to your homeowners insurance for assistance. Making a claim on home insurance is often a relatively straightforward process. However, for a number of reasons, it’s not uncommon for a claim to be rejected and the policyholder left empty-handed. To help you understand why a claim could be denied, read on.
Wear and tear on a home
Homeowners have a duty to keep their properties in good condition if they want their home insurance to remain valid. If it is not, and you make a claim for property damage, the insurer may find the reason the problem occurred was due to the homeowner’s negligence. Claims are often rejected when the roof has not been maintained, pipes have not been insulated, or trees were left to grow without being trimmed.
Incorrect levels of cover
Your home and belongings need the right level of cover in order to be protected. Maximum claim limits that are below the value of your property and belongings could mean you lose out. For example, if your home burns to the ground and it is going to cost $350,000 to rebuild it, but you have only agreed to a maximum cover of $300,000, then you are going to be $50,000 out of pocket.
Non-disclosure of facts
You would be surprised to hear that many claims are rejected because the policyholder hasn’t been truthful with the insurance agency, either knowingly or unknowingly. Although you may be tempted to bend the truth in order to land cheaper premiums when applying for home insurance, you risk your insurer finding out when it comes to filing a claim. Not only would the insurer not cover the claim, but they could drop you from coverage altogether.
Secure a policy that works for you. Find your quality homeowners insurance by contacting the team at Mayer Insurance today. We serve Apple Valley and neighboring cities in Minnesota with quality coverage.