As a homeowner, there are many things that you need to know about your policy. In the event of an emergency, the last thing that you want to worry about is money. However, if you aren’t familiar with your homeowner’s insurance policy, you could end up with more questions than answers. Luckily, our public adjusters can help you get the most out of your property claim. Although we are always here to help, there are still many things you need to know about your policy. The following is a list of the most important things to know:
What your policy covers.
The most important thing to know about your policy is what it covers. Most policies typically cover property damage due to a variety of perils (e.g. fire, wind, etc.). Read your policy carefully to determine what exactly it covers.
What your policy won’t cover.
It’s just as important to know what your policy doesn’t cover as what it does cover. Most policies have exclusions, such as earth movements (like earthquakes and landslides), war, power failure, government action, bad workmanship, and flooding, just to name a few. Before you file a claim, make sure that you find out what your policy actually covers.
When to file a claim.
It’s important to ask your insurance company about how much time you have to file a claim. This is incredibly important because waiting too long to file a claim could lead to a loss of benefits.
Check out Part 2 for more homeowner's insurance policy tips!