Homeowners insurance is the most rejected insurance in terms of claims. More than one in five claims is rejected, or 79% percent of the claims are accepted.
The top three reasons why home insurance claims are rejected are:
The top three reasons why home insurance claims are rejected are:
- Damage due to lack of maintenance
- The value for claims is less than the policy excess
- Wrong coverage bought
For a smoother transaction, follow these five tips in claiming home insurance benefits:
Know Your Policy
You have to fully understand the terms and conditions of your home insurance policy. You need to know what events will and will not cover your policy.
Call the Police if Necessary and Inform Your Insurance Company
If you have been robbed or vandalized, call the police first and file a report. You will be given a crime reference number you'll need for your home insurance claim.
Do not delay in notifying your insurance company. The moment you have your policy number, call your insurance company and explain your situation.
Gather and Document the Evidence and Make Any Necessary Repairs
You need proof of purchase for the items you are claiming for. Receipts, credit/debit card statements, or bank statements will do. Also, take and send any photos as proof of your claim. The claim process will be smoother the more evidence and documentation you have.
Make the emergency repairs needed to prevent further damages to your home. Insurance companies are allowing it. Some may also require it. But before doing any repair, keep your evidence and proof.
What To Do If Your Claim Was Denied
A home insurance claim is the top insurance claim to be rejected. Because of that, you should also be prepared for the next steps if your claim is denied.
The first thing to do is to know why the claim was denied. The reason should not be vague. If you think your claim is unfairly denied because of legitimate reasons, file a formal complaint.
Conclusion
The ultimate goal of home insurance is to protect your home in case anything happens. Thus, it's only necessary for the insurance carriers to know the workaround in making claims.
At Valencia Insurance Group, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (772) 344-8899. You can also request a free quote by CLICKING HERE.
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