Is there anything on the list of homeowners' nightmares worse than being welcomed by the sight of a broken-in house? Or a fraction of tree that somehow forced its way inside thanks to Mother Nature's tantrums? Clearly not. However, it's in such instances that you thank your instincts for showing you the need for home insurance Houston Tx.
It's comforting to know that your coverage is offering you financial protection, but here's the thing: filing a claim isn't always in your best interest. Yep, that's right -- there are times when you're better off not seeking compensation. Should you ever find yourself in a situation that (seemingly) necessitates making a claim, there's a number of considerations you'll need to go over:
Evaluate: After the initial shock now comes the need to understand the extent of damage you've suffered. As long as it won't expose you to potential hazards, a simple visual assessment of the scene will do. If necessary, contact the police and notify them of your situation.
Gather Evidence: A few photos documenting the damage will come in handy later on, but there's nothing to keep you from recording videos as well. This is one of those rare moments when your decision to splurge on a high-end smartphone seems justified. If you don't have one, however, just borrow a camera from a friend or neighbor.
Review Your Policy: The guarantees included in your policy are contingent on the relevance of an event to the covered instances. Also crucial is the level of coverage defined within. Added up, these two form the obvious need to read through your insurance contract to see what is and what isn't covered.
Be Mindful of Liability: It's commonplace for cases involving an injured party to mature into expensive lawsuits. As such, it's recommended to file a claim when someone sustains injury on your property. Your insurer will also want to be notified as soon as possible.
Look at Your Claims History: How many times have you been through the claim process over the last 5 years? If it's more than 2, filing another claim could see you get flagged as a serial claimant. This would in turn lead to a sudden rise in your premiums, or the inability to obtain coverage in future.
Weigh the Cost: To be more specific, this involves comparing the cost of recovering from the damage to the deductible defined in your policy. If the claims process will require you to pay more money than what you'd get, you're better off covering the latter out of pocket. In other words, launching a claim only becomes necessary when the damage exceeds the deductible.
All in all, it's in your best interest to avoid filing any claim that could be considered as frivolous. Failure to do so will not only lower your chances for obtaining coverage, but also leave you exposed to potential disasters. You don't want to find yourself in either of these positions in years to come, do you?
It's comforting to know that your coverage is offering you financial protection, but here's the thing: filing a claim isn't always in your best interest. Yep, that's right -- there are times when you're better off not seeking compensation. Should you ever find yourself in a situation that (seemingly) necessitates making a claim, there's a number of considerations you'll need to go over:
Evaluate: After the initial shock now comes the need to understand the extent of damage you've suffered. As long as it won't expose you to potential hazards, a simple visual assessment of the scene will do. If necessary, contact the police and notify them of your situation.
Gather Evidence: A few photos documenting the damage will come in handy later on, but there's nothing to keep you from recording videos as well. This is one of those rare moments when your decision to splurge on a high-end smartphone seems justified. If you don't have one, however, just borrow a camera from a friend or neighbor.
Review Your Policy: The guarantees included in your policy are contingent on the relevance of an event to the covered instances. Also crucial is the level of coverage defined within. Added up, these two form the obvious need to read through your insurance contract to see what is and what isn't covered.
Be Mindful of Liability: It's commonplace for cases involving an injured party to mature into expensive lawsuits. As such, it's recommended to file a claim when someone sustains injury on your property. Your insurer will also want to be notified as soon as possible.
Look at Your Claims History: How many times have you been through the claim process over the last 5 years? If it's more than 2, filing another claim could see you get flagged as a serial claimant. This would in turn lead to a sudden rise in your premiums, or the inability to obtain coverage in future.
Weigh the Cost: To be more specific, this involves comparing the cost of recovering from the damage to the deductible defined in your policy. If the claims process will require you to pay more money than what you'd get, you're better off covering the latter out of pocket. In other words, launching a claim only becomes necessary when the damage exceeds the deductible.
All in all, it's in your best interest to avoid filing any claim that could be considered as frivolous. Failure to do so will not only lower your chances for obtaining coverage, but also leave you exposed to potential disasters. You don't want to find yourself in either of these positions in years to come, do you?
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