Homeowners insurance is extremely difficult to navigate—especially without the assistance of a professional. At FP Property Restoration, we offer water damage restoration, fire damage restoration, storm damage restoration, mold remediation, and more. But just as importantly in many ways, our experts will help you deal with insurance providers. Keep reading for things you may not know about the homeowners insurance process, and if you have recently experienced a disaster, we promise to help you get your property up and running again as soon as possible.
5 Surprising Facts About Homeowners Insurance
- You May Be Able to Reopen a Claim After You Receive a Check from Your Insurance Company: If your house has experienced fire damage, water damage, or another disaster, your insurance company will most likely be willing to cut you a check for your losses. However, if you detect more losses that you didn’t catch initially, you may be able to reopen the initial claim you filed with your insurance company. Typically, this will have to be done within a year of the initial loss. We suggest contacting your state department of insurance for more information on this process—or contacting our experts at FP Property Restoration for assistance with maximizing your claim.
- An Insurer Cannot Cancel Your Policy Without Providing a Sufficient Reason: If your home insurance company attempts to cancel your policy without providing a good reason, you have good cause to protest. Typical reasons policies get canceled include failure to pay the premium, untruths on the original insurance application, abandonment of property/letting the property falling into disrepair, and active fraud.Your insurance provider may also choose not to renew your policy, usually within one year. Every state is different (some states require insurers to give you 30 days’ notice,) but in general, your insurance company must provide you some time or reasonable justification before canceling your policy.
- Water Damage Coverage Does Not Necessarily Cover Storm Damage: Water damage covers a lot of different things, including plumbing damage, roof damage, damage caused by putting out a fire, and certain types of storm damage. However, if you live in an area that is prone to experiencing hurricanes, you may need to purchase separate insurance in addition to the coverage you receive from your homeowners policy. Storm surge damage and catastrophic flood damage is typically not covered by homeowners insurance companies, so make sure you know what your policy covers before assuming your home is safe.
- Mold Is Covered by Home Insurance Companies, but Sewage Damage May Not Be: One of the most common problems that stems from water damage is mold growth. The good news is this is usually covered by home insurance companies. However, if you experience water damage related to a sewage leak, this is less likely to be covered. Homeowners insurance companies expect you to maintain your plumbing system and larger property, so if your home has experienced a break in your sewer line, you will need to take care of it before back-ups, flooding, or ground seepage occurs.
- Wildfire Coverage Varies Greatly from State to State: Oftentimes, wildfire damage is covered under home insurance policies. However, this risk is more likely to be covered in areas that are more prone to wildfires. Moreover, your insurance may cover certain types of damage caused by wildfires while not covering other types, so do not automatically assume that if your home is destroyed by a wildfire, your insurance will take care of the whole thing.