Q. If my neighbor’s tree falls on my house who pays for
the damage?
A. The only way this claim would be paid under you neighbor’s liability
policy is if you can prove that he or she is legally liable for the tree
hitting your home. However, negligence may not be easy to prove. Usually,
the insurance responsibility lies with the policyholder whose property
is damaged. You should file this claim under your own insurance.
Q. I have a dog. How will this affect my home insurance?
A. Some insurance companies specifically exclude liability claims that
stem from a certain breed of dog. Others may charge additional premium
for the exposure. Still others may not insure you at all. Call your
insurance provider for more information about what it considers to
be acceptable breeds.
Q. What is involved in the claims process?
A. After filing a claim you will be contacted by a claims adjuster, usually
within 48 hours. The adjuster will collect your information and determine
if the claim is covered and if an inspection is necessary. The adjuster
also will work closely with you to determine and arrange estimates
for contractors, payment of bills, reimbursement for out-of-pocket
expenses and other important steps in the recovery/rebuilding process.
Q. Will filing a single claim cause my home insurance rates
to go up?
A. Loss experience is a major factor in determining home insurance rates.
Loss experience consists of the frequency and severity of losses as well
as conditions of the property that favor losses, such as the presence
of a trampoline or swimming pool. A single claim should not have a drastic
affect on your premium as long as the loss does not expose some greater
risk on your property, indicate a trend in losses or identify serious
negligence on the part of the policyholder.
Q. Do I have to own a home to insure my personal property?
A. No. Renters insurance is available for those who need coverage for
their personal property (i.e., furniture, electronics, golf clubs,
etc.) but do not own a home.
Q. If my home is underinsured at the time of a loss will I suffer
a penalty?
A. If your policy includes a “coinsurance clause” (which
almost every home insurance policy does) then you will pay a penalty
for underinsurance. It is extremely important to review your policy limits
at least annually to adjust for changes in value.
Q. Does my home insurance include coverage for damage resulting
from a flood?
A. No. Flood insurance is sold separately and should be considered by
anyone who owns a home. The Federal Emergency Management Agency (FEMA)
says 25% of flood claims are filed by homeowners who do not live in a
designated flood zone.
Start shopping for a home insurance policy today by getting your free home policy quotes here.
