If you’ve done some alterations, finished renovations, or just because you haven’t checked lately, now is a good time to look at your homeowner’s insurance.
I make no claim to be an insurance expert,but I have spent the past 25 years repairing buildings that have been damaged by fire, flood, storm or impact.
And in all those years I have never came across an instance where the insurer did not pay what he was supposed to pay in terms of the policy.
I’ll go further and say that in many instances the insurers, especially the major companies, bent over backwards to ensure that they had a satisfied client at the end it all. Remember they cannot afford to lose your business; every monthly premium is income for them.
There were many instances were disputes arose, but in the main these were caused by the homeowner not having the correct policy, being underinsured or claiming for repair work which was maintenance related.
Insurers are faced daily with claims for items not covered in policies.
Policies vary from company to company but basically if the damage caused to your home results from poor maintenance - such as leaks through the roof because your flashings are old and perished - don’t expect to have your claim settled, although the majority of insurers will pay for the resultant damage.
When I was still contracting not a day went by that we didn’t go out to incidents. They were not all major, but on average I would say we saw at least three claims a day.
So yes, it could well happen to you one day, and the best way to deal with that is to be prepared and ensure that your house is adequately insured.
Homeowner’s insurance is one of the cheapest forms of insurance available.. - Weekend Argus