An insurance claim is a formal request by a policy holder to an insurance company to acquire compensation for a loss covered in the policy. The insurance company validates the claim and once it gets approved, issues payment to the insured person on behalf of the insured. There are many types of insurance claims. Some are to be filed with your own insurance company while others are filed with someone else’s insurer, known as third-parties file claims. It is always better to consult an Insurance Claim Attorney to know the complexities involved in each type of claim. Let’s learn more about different types of homeowners’ insurance claims.
1. Personal liability Claims: Personal liability refers to a situation where you are found mistaken for the injury, for example- auto and car insurance, health insurance, dental insurance, etc. These are first-party claims since they are filed under your own insurance company. These typically cover an approximate amount of $100,000 in personal liability including both bodily injury and property damage, which is not actually enough. An Insurance Claim Attorney recommends purchasing an umbrella policy along, which adds little extra liability coverage to your home and auto insurance.
2. Wind and Hail damage claims: Wind and hail are the most common damages that home insurers have to face. These storms are hard to prevent even if you sustain your home regularly. These can cause severe damage to the structure of your home which can bring about a severe hollow in your wallet. Homeowners’ insurance usually covers wind and hail damage claims. However, you may need an additional coverage if you live in areas where high winds prevail.
3. Water damage claims: Water damage caused by plumbing failure is a common domestic trouble. During winter months low temperatures often cause water in the pipes to freeze, which results in a leakage. Even a small leak can bring huge damages to the structure of your house. Most home insurance policies cover accidental water damage caused due to plumbing failures or rainwater.
4. Burglary and theft: It is always recommended to purchase a separate property insurance policy to cover the costs associated with burglary and theft since thefts take place everywhere no matter how safe a place is.
5. Fire and smoke damage: Fire is the most expensive insurance claim type you will run into. Make sure you buy a separate one if your basic homeowner’s policy does not provide coverage against it.
There are several other types of insurance claims, including those for floods, earthquakes, title issues, boating accidents, pet injuries, and many more. Check with your policy provider to understand the related compensation and process of each.
It is important to know about your rights during the insurance claim process. Despite the type of insurance claim you put forward, insurance companies have a compulsion to work in good faith and process your claim in a tidy manner. If you are facing difficulty getting your insurance company to abide by the terms of the policy, contact us now to hire Insurance Claim Attorney who can defend your privileges during the process.
