Home insurance is a crucial investment to protect your home and belongings from unexpected damages and losses. However, even with insurance, it’s important to understand the most common home insurance claims and take steps to reduce your risk. Making insurance claims can increase your insurance cost and you are likely to have additional expenses and charges not covered by your insurance. Here are the most common home insurance claims and ways to help reduce your risk:
Wind Damage
Wind damage is another common home insurance claim. It can be caused by severe storms, hurricanes, or tornadoes. Wind can cause damage to your home directly, but the damage can also come indirectly in the case of trees and branches that are broken by the wind. In many cases, the wind is accompanied by other factors such as hail and rain which can multiply the damage and increase the claim. Severe weather such as hurricanes and tornadoes can cause significant damage leading to a roof replacement. In these cases, your insurance should cover the roof replacement cost, as long as the roof was well-maintained and in good repair.
Because storms are unpredictable and unavoidable, it might seem that there is little or nothing you can do to prevent this kind of claim. However, one thing you can do is make sure that your house is in the best possible shape before a storm hits. To reduce your risk, make sure your roof and siding are in good condition, trim trees and bushes to prevent debris from hitting your home, and consider installing storm shutters. If you have any large trees near your home consider having a tree company inspect them to see how healthy they are. Although strong wind can cause any tree to fall, unhealthy or dead trees are the greatest threat.
Hail Damage
Together, hail and wind damage are the most common causes of homeowners insurance claims. The storms that cause hail and wind are often strong, dangerous storms that can cause damage no matter how prepared you are. These are also the storms that may produce tornadoes.
Again, in order to help protect your home against these threats, make sure that everything is in good condition. If you have frequent storms in your area, consider having a metal roof installed. Metal roofs are not impervious to wind and hail damage, but they are more resistant than shingle roofs, and in most storms will not suffer damage. If you live in an area that receives frequent storms consider having your siding and roofing inspected by a contractor before the beginning of each storm season.
Water Damage and Freezing
Water damage is one of the most common home insurance claims. This damage is usually caused by such things as a leaky roof, broken or burst pipes, faulty appliances, or flooding. In some cases, the damage is accompanied by other storm damage, but this isn’t always the case. Water damage can also be caused by old or improperly installed plumbing or freezing weather.
To reduce your risk, make sure your roof is in good condition and have it inspected after possible storm damage. Ask your roofer how often you should have your roofing inspected for leaks. You should also check to make sure your pipes are well-insulated so they will not freeze in cold weather. Finally, if your appliances are old you should consider having them replaced or inspected, and make sure that you keep them well-maintained. If you live in a flood zone, contact an expert to find out what steps you can take to mitigate your risk and reduce damage to your home, such as installing a sump pump in your basement or grading the land outside your home to prevent runoff from being directed toward your house.
Fire
Fire is another common home insurance claim. Home fires are usually caused by cooking accidents, electrical faults, or unattended candles. In many cases, fire damage can cause a home to be completely ruined. This is because even if the fire only damages part of the house, the smoke permeates the entire building, meaning it often needs to be gutted down to studs. In addition, the structural elements of the house such as the trusses and beams in the roof are usually damaged in a fire. Finally, water damage from firefighting efforts adds additional repair requirements.
To reduce your risk of fire, ensure you have working smoke detectors located in each sleeping area and anywhere fires are likely to start, including kitchens, laundry areas, and garages. The best smoke alarms are interconnected because when one is triggered it causes them all to alarm, helping to wake the whole family quickly. If your smoke alarms aren’t hard-wired, batteries should be replaced every 6 months. Also, keep a fire extinguisher near your kitchen and train everyone in the household on how to use it.
You should also never leave cooking food unattended, especially if the food is on a stovetop or you are cooking with oils or over open flames. Finally, be careful anytime you have candles or other open flames. When unattended, flames can start fires which can quickly grow before they are detected.
Theft
Theft is a common home insurance claim that can happen even in safe neighborhoods. Not only do thieves take valuable items that you have covered under your homeowners insurance, but in most cases, your home itself is damaged during a burglary or break-in, such as damaged doors and windows. In some cases, thieves also damage the inside of the home during the break-in, destroying what they cannot carry off.
To reduce your risk, ensure your doors and windows are secure by installing locks on your windows and deadbolts on your doors. Consider installing a security system, or at the minimum, loud alarms on your windows and doors. It’s also important that you don’t leave valuable items visible from the street. These items, whether inside or outside of your home, attract thieves and tell them that your home is worth the trouble of breaking in.
Final Thoughts
In conclusion, understanding the most common home insurance claims and taking steps to reduce your risk can save you time, money, and stress in the long run. Regular maintenance and inspections can help keep your property safe. Install safety features such as smoke detectors and security systems, and always keep your insurance policy up to date. By taking these precautions, you can protect your home and your family from unexpected damages and losses.