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Tricks of the Trade: Two Things You Didn’t Know About Homeowners’ Insurance

hands on a chalkboard protecting a drawn on home from the elements meant to symbolize home owners insuranceIt’s likely been years—or even decades—since you last looked at your homeowners’ insurance policy. If you haven’t had to make any claims on it, you should consider yourself lucky. If you ever do need to make a claim, you may find that certain issues come up that you didn’t know about, which can prevent you from getting the treatment—and results—you deserve.

When choosing a homeowners’ insurance company, it’s always best to go with one that is well-known and has high satisfaction ratings. But even the best policies are often filled with loopholes or conditions you weren’t aware of when you signed on the dotted line.

What You Don’t Know Can Hurt You

Before you renew your policy or sign on with a new company, you should be aware of the surprises that can occur when you need the company’s help and are in no mood for the unexpected. Checking over your current policy is also ideal, so that you know what to expect in the event you need to make a claim.

Two points that often take policyholders by surprise:

  • Your mortgage company can hold up your payments. Your name isn’t the only one on the insurance payment check; your mortgage company is also listed. As a result, your payment may take some time. Often, banks require additional forms to be filled and other procedures to take place before it allows the check to be released to the homeowners.
  • Falling trees aren’t always covered. Trees offer protection, but can cause major damage if they happen to fall. A majority of homeowners’ insurance policies will cover damages when trees fall on houses, but they often don’t do much for trees that simply fall on your property. The thousands of dollars that are needed for tree removal and stump grinding will not typically come from your insurance; you may have to cover those costs yourself.

Is Your Insurance Company Treating You Unfairly?

The insurance company doesn’t always have the final say in matters relating to your home. If you feel you are being treated unfairly by yours, the Voss Law Firm may be able to help. Contact us today by calling 888-614-7730 to learn more.

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