If a natural disaster has damaged your home, you might assume your insurance will cover the repair costs. But if you’re not careful, these charges could come out of your pocket.
Your insurance will usually compensate basic repairs for home damages. Yet catastrophic, unforeseen natural disasters could cause more significant damage. This may mean your insurance company will not provide complete coverage. If you find yourself scrambling for solutions, you can keep these tips in mind.
Check your coverage
Most homeowner’s insurance policies cover predictable natural disasters like hurricanes and tornadoes. Yet many policies will not cover unpredictable disasters, like floods, earthquakes or landslides. Since Texas is a high-risk area for certain disasters, you may want to consider purchasing a supplemental insurance policy. In the event of floods or earthquakes, among other disasters, this policy will provide coverage you otherwise may not have had.
File a claim
Yet you may not have a supplemental insurance policy. And you may need more immediate relief from natural disaster damages. In this case, you can try filing a claim through your insurance company based on your current policy. Keep in mind that your neighbors will likely try and file claims right after a disaster, too. The odds of having your claim approved can increase if you document the damage completely and file as soon as possible.
Learn your lesson
Your claim could still face rejection for various reasons. You may have pursued compensation without having the proper insurance. And your homeowner’s insurance plan likely has a coverage limit. This means that it will only cover damages and repairs up to a certain amount. Your policy might also have deductibles for certain disasters. You must reach it before insurance covers costs associated with natural disaster damage.
Receiving insurance compensation for natural disaster damage can prove difficult. Yet it’s not impossible so long as you understand your plan and what extra coverage you may need. Consulting with an attorney can help you achieve the settlement you deserve.
