When dealing with a McAllen home insurance claim, one of the very first steps to take is to make contact with the provider of your home insurance. Owning a home insurance policy and making a claim does not necessarily lead to full reimbursement. Your claim could be denied.
In order to reduce the chances of this happening, it’s best to learn about the reasoning behind the denial. The following list covers some of the most common reasons why insurance companies deny claims.
The facts are not correctly represented on the application
Should your insurance company find that you’ve been dishonest on your initial application, your policy can be rescinded, and the claim will be entirely denied. When a policy is rescinded, all premiums paid previously are refunded, and the policy is seen as void.
The deductible is greater than the claim
Should your insurance policy have a deductible, then this is the amount that you must absorb at your own expense.
Should the homeowners’ negligence contribute to the damage, the claim may be denied. For example, if a hurricane causes the roof to fall in, that’s considered a pertinent claim. However, should the roof fall in due to termite damage, then this may be regarded as negligence on the homeowners’ behalf.
An excluded event caused the damage
A home insurance policy does not provide for carte blanche coverage. For example, flood damage is not covered by home insurance, and a separate flood damage policy is required. Earthquake damage also requires supplemental coverage. Your home insurance may have its own set of exclusions, and it is worth discussing this with your agent at the time of purchase.
The damage occurred to professional property
Should you operate a business from your home or store property belonging to your business at home, it may be excluded from your insurance coverage. Commercial insurance is normally required for property owned and used by a business.
Premiums paid late or unpaid
If a home insurance policy holder is late with a premium payment or neglects to pay it altogether, the claim will be denied.
In order to ensure that your home insurance claims will be upheld you need to ensure that the policy is set up in order to meet your specific requirements. Give us a call at 888-296-0345 for more information about insuring your home today.