What Are the 5 Most Common House Insurance Claims?

Of the many investments you may make in your lifetime, home ownership might be the biggest. Insurance, though a complex beast, is an important coverage investment that a homeowner will hope never to file. When it comes to your home, you want to be protected from incidents outside your control. Policies vary across providers and plans, so understanding the most common house insurance claims will help you know what to look for in a plan.

1. Theft. One disaster that may befall your home is burglary. More than 2 million burglaries occurred in 2010 alone, causing property owners and upward of $4.6 billion in loss, explains the Federal Bureau of Investigation. You can take measures to prevent theft in your home, such as
   • closing and locking windows and doors;
   • trusting a close family member or friend with the spare key, not the welcome mat outside your door;
   • purchasing a home security system; and
   • requesting a trusted neighbor or the police to watch your home if you’re away.
2. Damage from water and freezing. If you live in the part of U.S. that experiences extremely low temperatures, you may want to ensure your insurance policy covers water and freezing damage. Water damage can also occur during flooding or rainfall (e.g. roof leak). Fortunately, most home insurance plans cover damage like this. A good way to prevent having to file this kind of common house insurance claim is to
   • check pipes regularly,
   • insulate pipes during winter months,
   • use warm water occasionally to prevent freezing pipes,
   • repair or replace roofing every couple decades, and
   • water seal doors and windows if you live in flood areas.
3. Damage from wind and hail. Tornadoes, hurricanes, and other severe storms can lead to this common house insurance claim. While most insurance policies include wind and hail damage claims, you may have to purchase an additional plan if you live in a region that often experiences bad weather from hurricanes or tornadoes.
4. Damage from fire and lightning. House insurance claims caused by fire and lightning may be rarer, but still important to ensure coverage. Fire damage can occur from any variety of accidents, from cooking, smoking, electrical overload, candles, to unsupervised children playing with fire. Lightning strikes can occur during a thunderstorm and severely damage the electrical wiring in your home.
5. Other sources of property damage. The above common house insurance claims aren’t the only costly problems homeowners may face. Vandalization, such as egging or toilet papering, defacing the home’s exterior, tampering with locks, or breaking windows, can be included in an insurance policy.

Check that your insurance policy includes these common house insurance claims and you will be extensively covered for the most likely misfortunes. Hopefully, you will never need to worry about such problems.

For more advice and tips for homeowners, continue following the Ryan Roberts Realtor blog! For your real estate needs, contact Ryan Roberts at 334-750-9872 or [email protected]!