How To Claim Insurance For Home - Duties After Loss

How To Claim Insurance For Home

This is an extensive group of conditions comprising eight sections, that further encompass thirteen subparagraphs. All of these are highly important policy provisions standard to all homeowners policies and merit your attention.

The introductory paragraph to this section states that the insurer has no duty to provide coverage for an otherwise covered loss if the insurer is prejudiced by the failure of the named insured, another insured, or a representative of an insured, to comply with the list of duties that follows.

Affordable Insurance Company Claims - Comparsion Shopping For Insurance

Affordable Insurance Company Claims

The exclusions of homeowners policies are another area in which comparison shopping may help you make an informed choice of insurer. Homeowners insurance policies may vary widely in terms of how particular exclusions are worded or exceptions to exclusions are worded that have the practical effect of providing broader coverage. 

The subject of exclusions is one in which homeowners insurers seek to compete with each other, although their competition is often not very transparent to the insurance consumer. It often requires actual comparison of specimen policy forms from various insurers to discern the differences in the scope of exclusions. Unfortunately, some insurers will not give out specimen copies of their policies and too few consumers take the time to ask for them.

House Insurance Cost Estimator - Additional Insurance Exclusions To Take Note

House Insurance Cost Estimator

ADDITIONAL EXCLUSIONS 

The next group of exclusions in the ISO HO 2 and HO 3 is essentially the flip side of several of the exceptions to certain of the personal property named perils, and/or of certain of the Additional Coverages.

Collapse

The first of these exclusions is for loss involving collapse, except as is provided in the Additional Coverages peril of collapse. As discussed, the collapse coverage is essentially a named perils coverage, which, under the ISO HO 2 and HO 3 policies, requires an actual collapse of the building or parts of the building for coverage to arise. This collapse exclusion is also modified by an ensuing loss clause that provides that coverage exists for loss ensuing from an otherwise noncovered collapse if that ensuing loss is caused by a covered peril.