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Making a home insurance claim
When you make a major claim on your home insurance, it is quite possible
that the insurer will dispatch a loss adjustor. This person comes to
your house and assesses the situation, trying to work out if you have
done anything in breach of the terms of the policy.
This is the point when knowing the small print of your policy is essential,
and the accuracy with which you filled out the policy form comes back
to visit you. The following factors can be used by loss adjustors and
insurance companies to exclude some people from payouts. It is worth
being aware of them:
Inaccurate information provided: for instance, the model of the stereo
you have had stolen is different to the one listed on your contents
insurance. Falsifying a home insurance claim can lead to prosecution
for fraud.
Failure to secure your house properly: If you have installed a burglar
alarm and it is not switched on when your house is burgled, the insurance
company can use this as a loophole
.
Negligent care of a property can lead to a claim refusal. If you allow
your house to fall into disrepair and then claim for repair, you will
likely not succeed. Insured property should be maintained by proper
repair work.
Garden furniture is often not covered.
In some instances making a claim is simply not worthwhile, especially
if the excess is set to a higher than usual level.
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