Home Insurance. Thursday , March 01st , 2018 - 17:06:19 PM
Losing a home to a wildfire can be a frightening and emotional experience. Knowing what your homeowners insurance policy covers and being prepared with a home inventory can help with your peace of mind, particularly if you live in an area that is at a higher risk.
Those 70 percent may enhance their coverage moving forward, but for them, it’s already too late. The uninsured damage has been done. If history is any indication, the key for consumers is to avoid being among this 70 percent left staring at a claim that will never be processed or only partially paid.
The first, and easiest, step for policyholders to avoid an unpaid natural disaster claim is to call their insurance agent or company and ask about their coverage. If a policyholder is in an area where hurricanes are prevalent, they should be asking questions specific to hurricane scenarios. Are they covered in the event of water damage from a flood? What about wind damage? What are the policy’s limits on rebuilding or repairing? Additionally, the consumer should confirm that the full value of their home is properly insured.
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