Risks to Home Insurance Claims

There are different reasons why a home insurance claim is usually rejected. How do you assess if your property will still get insurance? Here are important elements that can put a big risk on your home insurance:

• False information. Most of the time, we are tempted to include some untrue information on our home insurance policy. This is so that we can get a cheaper premium. However, the desire to get more can be the very thing which can send our home insurance down the drain. If for example, you live in an area with a high crime rate, you may choose to claim that you have installed a burglar alarm, when in fact you don’t have one. Also, you may state a different address, probably one which has a low crime rate. Most home insurance companies send out loss adjusters to assess your report, so any false information will be bases to invalidate your claim.
• Not using installed security systems. Most people install home security devices such as burglar alarms, time-switch lights and mortise locks. This can give you a cheap home insurance. However, home insurance companies expect these devices to be used. If you fail to use them, you can even be liable for your loss and lose a claim on your home insurance services.
• Low maintenance. If you do not perform regular maintenance checks and repairs on your house, your home insurance company will most likely refuse to pay for its repair. It is your responsibility as a homeowner to keep your house in good condition. If a storm comes and the roof of your house gets blown off, it’s not a guarantee that you will get your home insurance claim. The insurer will first check if the disaster is a result of your lack of upkeep. If it gets proven that you did not take care of your property, you will not get your home insurance claim.
• Repairs. A past claim from your home insurance company could have given you a claim that you should have used for repairs. If you fail to use the money for repairs, then it is very unlikely that the home insurance company will grant you a claim again.

Do not jump on every home insurance claim that you can get. For minor repairs and adjustments in your property, you can just do these on your own. You can get a cheap home insurance policy instead, and choose to build up a no-claims bonus.