After the occurrence of a calamity that results to losses, you expect that your respective insurance cover policy to promptly compensate you. Having paid your total premiums in a timely manner to your respective insurance cover policy, you definitely expect that you are totally covered by the policy. After the occurrence of disasters such as floods or fire in your business or even at home, finding out that you can only be partially compensated or even fail to be completely compensated can be very frustrating. There are several reasons that might result in the denial or even being underpaid after a tragedy by your home insurance cover policy. The reasons for this might be due to the following:
Failure of Taking Preventive Measures That Resulted in the Loss
After the damage and loss of property, as the holder of the insurance cover policy, you are required to take a step so as to protect your belongings from experiencing further damages hence mitigating the extent of loss that could be incurred. Your failure as the policy holder to take a step and prevent further damage of the properties hence exposing yourself to more losses, this could be a basis for you to be denied the full compensation or even fail to be totally compensated.
Deductible
Every policy holder of a home insurance cover, possess a deductible. The deductible refers to the amount of total money you agree to pay in a claim. In cases where your total amount of the deductible is higher than the amount of losses incurred, then your cover policy fails to cover for the claim. In most cases, one thousand dollars is the deductible for the larger number of home owners. The hail and wind claims have different deductible. It is very significant for you to study your insurance cover policy so as to comprehend what your wind-hail deductible and your all peril deductible are. For example, people who live in California are always at risk of an earthquake destroying their home, or a wildfire breaking through the neighborhood. West coast residents would then consider searching online with a key phrase. Using insurance claims adjuster in Los Angeles as a search would work in order to find the correct provider in their location and determine what deductibles you qualify for.
The Condition of the Property
Insurance companies manipulate a special score by the name PropertyPredictR, which evaluates the property and also asses the risk for claims in line with the Insure.com. Factors that determine your home’s potential for insurance claims include the types of materials used for the construction of the house and also the shape of the materials and the structure. The conditions of the properties also entail the overall appearance of your property and how tidy or untidy your property is.
Property Location
If the house was built in an area with high risks of either crime or even weather, this forms the basis for your insurance cover policy to deny you the compensation. If the home is located in an area prone to hurricanes, hail, tornadoes, and wind storm exposes the house to high risk of destruction. According to the insurance specialists, properties located in high crime potential areas may be at the risk of claims that are related to vandalism and theft of the property leading to the damage or loss of the property. It is impossible to change the location but it is wise to come up with preventive measures which include installation of hurricane shutters and alarms.
