It would be wonderful if your homeowner’s insurance covered everything, but in reality, there are limits to homeowner’s insurance coverage. It is extremely important to understand these limits and what is and isn’t covered.
Here is some helpful information about homeowner’s insurance coverage, along with what you can do if your insurance provider decides to deny your claim in bad faith.
What Does Homeowner’s Insurance Actually Cover?
Most insurance companies cover a few key components. These include:
Dwelling Coverage: This form of coverage is what most people think of. It covers physical damage to your home itself, and generally offers coverage in cases of fires, hurricanes, lightning, and other disasters.
Personal Property Coverage: This form of coverage covers the things inside of your home, which may include furniture, clothing, electronics, appliances, and more.
Other Structures Coverage: This covers structures that are on your property but are not part of the main building. This includes detached garages, fences, sheds, and more.
Liability Coverage: This form of coverage covers injuries that occur on your property. It can help to cover medical expenses and legal fees if an accident occurs (for instance, someone slipping and falling).
Additional Living Expenses (ALE): If something catastrophic happens to your home and it is no longer inhabitable, this form of insurance kicks in to cover things like meals, hotel bills, and more.
What Is Often Not Covered?
Homeowner’s insurance can be extremely helpful and can provide you with coverage when it comes to a variety of different disasters, but it doesn’t always cover everything. Here are some things your homeowner’s insurance may not cover:
- Natural Disasters: This includes floods, earthquakes, and more that require separate policies.
- Maintenance Issues: This may include things like termite damage or roof leaks.
- High-Value Items: Certain items that are particularly expensive may not be covered. This includes art, jewelry, and other expensive collectibles.
- Negligence: If it’s found that damage has come to your property due to your own negligence, the damage may not be covered.
What If My Insurance Provider Decides to Deny My Claim?
If you have filed a legitimate claim on time and properly, your insurance provider is obligated to pay that claim. If they decide to try and underpay your claim or even deny it outright in bad faith, reach out to Colucci Law Group for support.
Colucci Law Group consists of legal experts who provide clients with support to fight bad faith claim denials. We will provide you with an outstanding property insurance lawyer to represent you in a suit against your insurance provider. We are also able to file your claim for you and defend your rights, so you get the settlement that you deserve.
For more information about our property insurance legal services, reach out today. We’d be happy to help you to file your claim or represent you in a lawsuit against your insurance provider.
If you suspect that you are the victim of a bad faith insurance claim denial, we can help. The Colucci Law Group has the resources to assess the validity of your claim at no cost to you. For a free consultation, email us or call our Dunedin office at 727-733-9438. You may also call our Fort Myers office at 239-378-7800. Our team assists victims of bad-faith insurance claims across the state of Florida.