Insurance Claims: Myth vs Fact

Dealing with insurance claims can be tricky.

There are many myths and misunderstandings when it comes to insurance policies and insurance claims that can confuse homeowners.

In this article, we shed light on some of the most common misconceptions and provide clear facts about handling insurance claims, making the process less intimidating for homeowners.

Understanding these key points can help you make informed decisions.

Whether you’re dealing with damages, choosing a contractor, or simply assessing your coverage – we’re sharing this information to help ensure you’re well-prepared when it comes to your insurance.

Here are the 7 most common myths.

Myth 1: All Natural Disasters are Covered Under Standard Homeowners Insurance

Fact: Standard homeowners insurance policies typically cover damage caused by some natural disasters such as windstorms and fires.

However, floods and earthquakes usually require separate policies.

Always review your policy or consult with your insurance provider to understand your coverage.

Myth 2: Filing a Claim Will Always Increase Your Premiums

Fact: This is not always the case.

The impact of filing a claim on your insurance premiums can vary depending on your insurer’s policies, the nature and frequency of claims, and other risk factors.

Not all claims will result in increased premiums.

Myth 3: The Insurance Company’s First Offer is the Final Amount

Fact: You have the right to negotiate with your insurance company.

If you believe the settlement offer does not fully cover your losses or the cost of repairs, you can present your evidence and negotiate for a higher payout.

Hiring a public adjuster can be beneficial in these negotiations.

Myth 4: You Must Use the Insurance Company’s Recommended Contractors

Fact: While insurance companies can recommend contractors, you have the right to choose your own.

It’s important to select a contractor you trust to perform the repairs to your satisfaction.

Myth 5: Minor Damage Isn’t Worth Claiming

Fact: Even minor damage should be assessed for potential underlying issues.

What appears minor on the surface could have deeper, more serious implications.

Documenting and filing a claim for minor damage can also establish a history of the property’s condition, which might be relevant for future claims.

Myth 6: You Can Only File a Claim Immediately After the Damage Occurs

Fact: While it’s best to file a claim as soon as possible, most insurance policies allow for claims to be filed within a specific timeframe after the damage has occurred.

Check your policy for these timelines, but don’t delay unnecessarily, as waiting too long can complicate the claims process.

Myth 7: Personal Property Inside the Home Isn’t Covered

Fact: Many homeowners’ insurance policies include coverage for personal property inside the home, subject to the policy’s limits and deductibles.

This includes damage from covered disasters.

Inventory your belongings and review your policy to understand your coverage.

Don’t navigate the complex world of insurance claims alone.

Understanding your coverage, knowing your rights, and recognizing the importance of timely and accurate claims filing are crucial steps toward safeguarding your home and financial well-being.

We understand that even with this knowledge, the process of dealing with insurance claims can still be overwhelming.

That’s why we’re here to help.

Whether you’re unsure about your coverage in the face of natural disasters, concerned about the implications of filing a claim, or in need of assistance with negotiating a fair settlement, our team of experienced public adjusters is ready to provide you with the support and guidance you need.

Contact us today for a free policy review or for expert help with your claim.

We’re committed to helping ensure you receive the full benefits your policy offers, providing peace of mind in your time of need.

Let us help you turn policy confusion into claim resolution.

Book an appointment online or call us at 1-954-874-3563. We pick up the phone!