The top homeowners insurance mistakes policyholders make

Homeowners insurance mistakes - hand holding house in bubble
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This coverage can be complicated, resulting in errors frequently made while filing claims.

Homeowners insurance mistakes are more common than many policyholders may think. Unfortunately, when errors are made during the claims process, the result can be quite expensive.

Policyholders are advised to review their coverage annually and when large changes occur.

Beyond making sure they have the right coverage in place, it’s also important to understand the claims process. This helps to avoid some of the most common and potentially expensive homeowners insurance mistakes.

As climate change brings an ever-growing risk to property owners, understanding proper claims filing is also becoming increasingly important. Hurricane seasons are rising in activity and severity, as are wildfires, tornadoes and many other forms of natural disaster. Regardless of where an American calls home, it is wise to understand risks, coverage, and claims filing strategies.

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Avoiding common homeowners insurance mistakes can ensure faster and more accurate payments.

The following are some of the top errors that property owners make when filing a claim.

  •  Purchasing the wrong type of coverage, inadequate coverage, or a policy with exclusions where coverage is needed.
  •  Failing to understand the coverage in advance by reading the policy and/or having it explained by an insurance agent.
  •  Failing to keep an inventory of the possessions and contents of the home.
  •  Being slack about property maintenance which could have prevented potential problems.
  • Providing unclear descriptions of the property damage in a claim filing.
  •  Waiting too long to file a claim.
  •  Attempting to file a large, complex and expensive claim without the assistance of a skilled and experienced public insurance adjuster.
  •  Failing to document the damage with pictures, video and written descriptions from the moment it is discovered.
  •  Beginning the cleanup process too soon.’
  •  Filing too many insurance claims over time on home, auto and other policies.

By understanding and avoiding these homeowners insurance mistakes, the claims process can proceed much more smoothly for policyholders. Careful regular coverage review is Homeowners insurance mistakes - hand holding house in bubblealways recommended and speaking with an agent to have questions answered in advance can make a substantial difference in a policyholder’s preparedness if disaster strikes.

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