Common Household Insurance Claims – and What You Can Do to Prevent Them
Homeowners face many risks to the safety of their homes daily. However, not all myths are realistic, and you may be worrying more than necessary.
Instead, why not take a look at the data discussing the most significant home risks and locate the areas about which you should worry?
Today, we’re looking at the most frequent homeowners’ claims to show you the common nuisances and the ways to deal with them. Make sure to calculate the value of your home contents before you make a claim.
Water Damage
Most water claims come from sources other than the weather – most prominently, pipes, appliance issues, drains, and valves. Such problems happen the most often during the winter months.
When it’s cold, the water in your pipes freezes, which can lead to cracks and leaks. Even the smallest of holes, in turn, can result in significant water damage to your property. What you can do is make sure your pipes are resilient and tackle any leak as soon as it happens.
Flooding is another frequent water damage. It tends to come, in mild flood zones, from road floods, breaks in communal pipes, and nearby bodies of water.
Remember, most home insurance policies do not cover flood insurance. So, if there’s a chance of it happening near your home, get separate coverage.
Weather-Related Damage
Wind, hail, and other weather damage accounts for up to half of the property loss claims in the US. You can’t prevent storms, so this damage is possible even if you maintain your home.
What you can do is inspect trees around your property to avoid falling limbs from damaging your roof.
In most cases, your insurance covers wind and hail. If you live in certain areas where tornadoes and similar weather catastrophes are common, though, you may need extra coverage.
Theft
Theft happens even in the safest of towns. Luckily, most policies cover this case, as long as you update your contents coverage regularly.
Other things you could do is install a home security system and display a sign for it in your yard, get a smart lighting system, have a friend keep an eye on your house while you travel, keep your spare keys safe, and always lock your door with high-quality locks.
Fire
Fires are not the most common of home incidents, but they make for the costliest claims because of the damage they cause. They can start due to overloaded circuits, wood stoves, cooking, thunderstorms, and so much more.
Luckily, in most cases, your insurance will cover the most considerable costs. These include your property and the contents of your home in case of a fire.
You can lower your risks by installing a lightning rod on your roof, staying alert of fire risks around the house, cleaning your chimney and stove, unplugging electronics, and being aware of the danger of unwatched lamps.
Personal Liability
Personal liability refers to situations where another person gets hurt or their property damaged in your home. It even applies to unwanted guests on your property.
Such claims are more common than you’d think, and they can be financial pitfalls if you don’t get proper coverage.
Other than that, keep your home safe by maintaining it well, with particular emphasis on stairs, sidewalks, and railings. Keep your pathways clean in bad weather, especially in winter.
Many insurers nowadays offer umbrella coverage against personal liability that covers your house and car. It could be a good option if people often drive in your vehicle or visit your home.
The Bottom Line
Finally, when you consider all this, it becomes evident that it’s a challenge to get adequately protected. In most cases, your policy will cover most of these cases, but the difference lies in the extra coverage you buy.
As the experts at https://www.brokerlink.ca/insurance/home/ontario say, you might need an expert to show you the ropes of getting insurance. That way, you’ll end up with a custom-made policy tailored to suit your particular needs. Such coverage is worth the extra time and money invested in it in the long run.
